Join Australia's most dynamic and respected property investment community

Dymphna Boholt

Discussion in 'General Property Chat' started by tegs77, 28th Jan, 2016.

Tags:
  1. tegs77

    tegs77 Member

    Joined:
    24th Jun, 2015
    Posts:
    12
    Location:
    Sydney
    I went to a 1 day seminar today to see Dymphna in Sydney. I have been receiving emails from her "I Love Real estate "and "Knowledge Source" companies for a while now so I thought I would go along to see what she had to say and offer.
    She speaks very well and had everyone's attention all day just because of the way she delivers her message. She could pass as a motivational speaker for sure.
    Basically the day was about her promoting her coaching programs and showing many video testimonials from current students with examples of what they had done since taking on the coaching program. Some of the student outcomes were very successful (obviously she is only going to show the good ones ).
    The thing that got me though was the fact she is only interested in positive geared properties and if they are not positive you have to be able to make them positive with reno straight away.
    She believes the best way to invest is to work out how much you NEED to live on, then aim to replace that amount twice with positive geared income. Now that sounds great but we all know to get positively geared property it is generally in slower capital growth areas. Now I believe that most people invest for capital growth, this is what gives you your financial freedom. She was not interested in the capital growth, it was just a bonus if you got it!! Now to me this goes against what most of us think and most of this industries investment advisers think?
    Another point she made which has worried me a bit is that ALL real estate investment purchases should be bought through a trust (beneficiary) and definitely not in your name. This is to protect you from litigation etc. My properties are not bought through trusts, just in mine or my wifes name. Maybe this is something I need to look into? My accountant never brought trusts up with me.
    Just for the record I did not purchase her coaching program never had any intention to, was just interested on her thoughts. Many people did purchase the program though, she sells it very well, she would have made a motza today.
    Did anyone else attend this today?
    What are people thoughts on her and her strategy?
    cheers
     
  2. CosmicTrevor

    CosmicTrevor Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    117
    Location:
    Sydney
    Last edited: 28th Jan, 2016
    Taku Ekanayake and mrdobalina like this.
  3. MTR

    MTR Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    7,345
    Location:
    Perth, Melbourne, USA
  4. Xenia

    Xenia Adelaide Property Manager Business Member

    Joined:
    21st Jun, 2015
    Posts:
    2,343
    Location:
    4/136 The Parade Norwood, South Australia
    It's all just a view point, it's all interesting and ads to your knowledge.
    Never take general view points as being specific advice for you because it is never going to be.
     
    Beanie Girl likes this.
  5. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,970
    Location:
    Sydney
    This is legal advice which I don't think she is qualified to give. Don't believe it.
    Her book on asset protection was also pathetic. Beware.
     
  6. geoffw

    geoffw Moderator Staff Member

    Joined:
    15th Jun, 2015
    Posts:
    2,126
    Location:
    Canberra
    There was a lot raised in the old forum- www.somersoft.com - it's worth doing a search.
     
  7. New Town

    New Town Well-Known Member

    Joined:
    8th Sep, 2015
    Posts:
    96
    Location:
    QLD & NSW
    She was an accountant like Steve McK so can't be too bad right ;)

    Mind you whenever I see the "divorced mum becomes millionaire" line I think you've been saying that for 10 years - haven't you found a bloke yet - go speed dating already
     
    Last edited: 29th Jan, 2016
  8. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,501
    Location:
    Sydney
    I listened to her seminar and she was trying to sell me her products.
     
  9. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    1,693
    Location:
    Brisbane..
  10. geoffw

    geoffw Moderator Staff Member

    Joined:
    15th Jun, 2015
    Posts:
    2,126
    Location:
    Canberra
  11. willair

    willair Well-Known Member Premium Member

    Joined:
    19th Jun, 2015
    Posts:
    1,693
    Location:
    Brisbane..
    How quick does 10 years go,i posted that so some may get a better understanding of who is standing in front you and the way they work,and when to walk and say nothing.
     
  12. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    4,677
    Location:
    Perth
    I don't agree. There are many ownership structures, personal name, company, multiple types of trusts, SMSF etc. The reason there are so many ownership structures is that this is not a 'one size fits all' solution. You need specific legal and tax accounting advice because the answer will depend on your goals and your personal situation.
     
    dabbler, MRO and Leo2413 like this.
  13. Kangaroo

    Kangaroo Well-Known Member

    Joined:
    21st Aug, 2015
    Posts:
    254
    Location:
    Sydney
    I went to DB seminars( free one) twice and found it had lots of good information. At the end of the day, it is a type of education, it is up to the individual's effort to understand it with good depth.

    No lecture or education can replace your own effort to understand and study about it. Advice or education is always as such. How many people got rich or burnt in mining towns, resource shares or even mining startups. Some made lots and some lost lots. Same advice can lead to different result for different people.

    Thinking back, I feel like property advice or seminars are just someone pointing to a window and asking you to open it because you did not know it was there. Knowing the fact that there is a window is always a good thing, but opening it or not depends on your past experience, study and understanding. Behind the window could be cool breeze or a monster lurking under.

    People don't go broke by spending seminar money, they go broke because of other things. The seminar money is a peanut compared with the potential gain or loss.

    If you examine the life of those people going broke due to following someone's advice, probably you will find that these people had stopped learning long before the disaster, and they will deny that they have stopped learning if asked.
     
  14. dabbler

    dabbler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,668
    Location:
    Sid en e - olympic city
    I do not know her or what she says, but.....

    Even when returns are high, there is growth, if you get 3% a year for 6 years or another property in a capital that is flat then 3 years of 6%, is same thing, but if you ignore the CG side for a min.....

    If you buy cheaper positive gear properties AND you pay them off instead of this constant never ending debt, or at least pay the eqv of P&I into an offset, you will over time have places giving cash income with zero debt.

    If you go the mainly CG and negative cash route, you really need to be timing things and turning places over most likely.

    A persons income and abilities will also be a factor in what is best for the individual or couple.

    The puzzle really is figuring out what works for you.
     
    samiam, JenJen and Subodh Shirodkar like this.
  15. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,897
    Location:
    Sydney
    Good post Dabbler. Some people need capital (so aim for a deal that will result in a large capital injection), but others need serviceability, so they need to do a cashflow deal. Its all unique to each individual. You need to know what can get you to the next purchase and to not trap yourself into a corner. A balance is needed and it will change from one deal to the next. Dymphna actually says this.
     
    JenJen likes this.
  16. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane