Another Investment Group!

On the weekend, we went to the Penrith Home Show. While there, we came upon a booth for an investment group, which was run by two women. I got talking, because I'm very curious, and like to see what they've got to say. Whether it's total crap, or somewhat decent.

The first woman asked me if I had any investments, and I said yes, I've got a couple. "Wow! That's great", she said. "I've got 4" The other woman then piped up "I've got 10. We can help you be successful, just like us, because it's all about women doing it for the family and helping each other."

I noticed some books that were sitting on the desk, and asked how much they were. They were free if you joined them and joining them was free! I had to give my email address (I've got one I don't use, which is perfect for this sort of thing), and your name & phone number. I really wanted that book!

They announced that there was a seminar by the same ladies, so I went up to the seating area to wait. There, one of them was talking to the four or so people sitting in the chairs, so I went & joined them. This was apparently the 'seminar', I found out later, which I felt like I should have stood up, grabbed the mic & started speaking, because nobody in that little group had any clue about ANYTHING and that included the 'speaker'.

Now, I've read a few dodgy books in my time, and I always get a bit of a laugh out of them. Well....OMG! I'm not sure if they were trying to copy Jan Somers with her Story by Story book but...well....where do I start? The title sounds inspiring, maybe. "Jouneys Along the Property Path, 12 Investors Stories.

So, the very first story, the one which SHOULD have been somewhat good, being the first one, tells of a family who have bought one of everything. A one bedroom unit under 50m2 at the top of the boom in 2003, which needed a reno & had termites. An Off-the-Plan holiday let in Qld with 49.5% management fee (NO, that is not a typo), the following year, a furnished duplex in Mt Isa because they were chasing the mining boom, student accommodation in Frankston.

And on it goes.....none of them making much in the way of gains, none of them making a decent yield. Even as I write this, I am totally gobsmacked. I'm not even half way through this book yet. If I remember, I'll bring it along to the meetup tomorrow.

 

Can I borrow it sounds great!

 

This seems to be the book:
Journeys Along The Property Path - 12 Investors Stories

 

I will give them one thing that is diversification...

 

Thank you for sharing....it is frightening to think of the carnage their 'investment advice' will leave behind

 

There was one group who had a chocolate wheel. I 'won' $50. When I asked where was my $50, they said it comes off their consultation fee. There was no talk of consultation fees at all, they were just pulling people in to have a spin of the wheel. That name sounds familiar, but couldn't say for sure if it was the same group.

 

I hope there's a sequel!

I am yet to see anything misleading. 12 stories in a book.... no mention they were going to be good stories

 

You can all join the davem renovating for profit programme for free today only. Please note that all members have a monthly administration fee of $499

You will also receive a copy of my latest book, Journeys along the KFC path - 12 piece bucket stories

 

They want $17.15 for it! Im tempted but yeah, nah!

 

It would be tempting if they threw in the steak knives

 

if they chuck in free dinner then im in.. i got lots of dummy emails to share. they can bombard it with spam emails to their hearts content.

 

It's been on OzBargain for $7 a few times

 

It's worth every cent I paid for it.

 

Wonder what their end goal was... were there paid seminars to attend? Or actual investment...err, property buying opportunities for you to take part in?

 

Dave , so that's your Bucket List ?

Cliff

 

After reading this post, I decided to look at the newsletter they gave me as well. Kevin Young is behind it all. It used to be The Investors Club, now it's called Property Club. There's property you can buy through them, and Property Club approved professionals galore.

While it is only my opinion, I would suggest that any newbies do their due diligence when presented with groups like this. Come here, ask questions of people that are successful without being a part of any 'one-stop' property group or club.

 

I will be stealing your book when I'm up there in a couple of weeks...

Funnily enough I was shopping today for my investment night tomorrow and stumbled upon Jan Somers "Story by Story", and had a little chuckle because of this one

 

Sounds like we can get 12 stories together after midnight tonight at Wenty and do better than that

 

I am very keen to know what kind of holiday let property has 49.5% management fees .... Must be coming with its own butler and masseurs ....

 

There is a difference though. Story by Story is a GOOD book to read.