Steve McKnight $10 training events - any good?

Ah Ok, me too but I didn't go to any physical workshops with him.
Have met him in person though.

 

Nice to hear some good stories like this, been hearing too many bad stories about gurus ripping people/investors off.

I went to his USA seminar in Melbourne around 2011/12?? Glad I did, it was the stepping stone for me.
The course was good and we all got information on how to structure, buy cash flow properties in USA at a cost of around $900, relatively cheap for what we learnt



MTR

 

Good on you.
Fortunately you found one of the good ones.
Imagine if you had gone with one of the other people!?!

 

A few months ago my wife and I made the decision to attend more free/cheap webinars/seminars. Without doubt I feel this was one of the best we've attended so far. Most are subtle segways into selling a master product or service and while I guess Steve was plugging his mentorship programs I feel he also gave away a lot of great information.

Others may have got certain things from this seminar but for us this included:
- discussion about Kate Moloney - author of Bright Yellow Happiness / investor of the year who is now battling bankrupcy. 5 lessons of Kate Moloney.
- investor vs speculator mindset
- market bubble blowing vs market bubble popping
- negative gearing misconceptions (most should already know this) - eg. making a certain loss today for a concessionally taxed profit later
- discussion about Labours proposal
- Herron Todd White property clock
- capital city matrix (median house values through to job growth, unemployment to building approvals)

Specific topics I think my wife and I need to study/research more so include:
- structuring for success (trusts, etc)
- building relationships
- commercial property

 

Agree, fantastic speaker and motivator. His scores are (from F to A):

Sydney: C
Melbourne: C (houses) / D- (units)
Brisbane: B-
Perth: D
Adelaide: C-

Units: no go
Mining towns: no go
Townhouse: maybe
Automotive will hit the market
Bubble will pop, the question is when
Good debt doesn`t exist
Debt currently at highest levels. Interest up -> guess what

800 properties / 200k income per month. No bad. Started from zero, he did well!

 

I thought he said 900 properties. It all seems a little irrelevant when its that many eh...!?

@Luca - are you going down to Melbourne for the free 3 day conference? EDIT - your profile says you are in Melbourne (winning). My wife and I think we will go. I haven't been to Melbourne and thought it would be a good opportunity to look around at the same time. 3 days free (just the cost of travel and accom) - can't really argue with that...

 

I will, and my wife is coming too. Not sure she will enjoy...ahahah.

 

Did anyone go to the market update in Sydney on Tuesday night?

 

Lol... Sounds just like my wife...! Look forward to seeing you there

 

He did raise some good points and delivered some decent information. Was definitely worth the 10 bucks and Tuesday evening. But I definitely took his bubble to PPP spiel with a grain of salt. I mean he is wanting us to invest in America with him so he does need to rubbish the Australian market somewhat.

 

Don`t agree. He said: "Yes, I am buying in Australia at the moment". Also showed properties he was interested in, AU and not USA. I think he is more driven by passion than $$, he probably has enough already.

 

So you think he is flying around the country spending lots of money booking auditoriums to book participants to come to his Melbourne session for passion? If you understand anything about business at all you would realise that this is his business model. People pay only $99 for $1995 of value is qualifying the leads and gaining commitment from people while they are feeling inspired from his talk. The smart people left as soon as his talk stopped

 

Well, business model or not, I enjoyed the speech for 10 bucks. The three days at $99 bucks, which will be refunded, include good speakers. You can leave whenever you want. If you spend money because you are "emotionally" involved you are probably not a good investor. He will sell something for sure, up to you if you want to buy it or not.

 

I believe his fund raising for US is fully subscribed, doubt he is selling or promoting US at the moment. I recall he raised $50M and he takes % for managing this, I doubt he needs the money. At the end of the day its irrelevant what matters is whether he knows what he is talking about with regards to the markets.

Markets don't boom forever and most are peaking at the moment or falling.

MTR

 

So no State received an 'A' which I takes means a strong buy.

 

Yep, that`s right.

 

Thanks for the update.
Will be interesting to compare with the last couple of years.

 

I think we wont need to wait a couple of years, 2017 seems to be tipped at the year property goes on the nose. Perhaps Brisbane will dodge a bullet??

 

Well he did announce he is moving to the US for at least 18 months and maybe longer, I would be surprised if it wasnt investment related. Maybe he knows what he is talking about and maybe he is wrong, he is not an economist. I have seen plenty of experts be wrong more often than not.
Of course markets don't boom forever, thats not really what he was saying. He was saying very clearly that there is a bubble and it will burst and he was using the US market as a comparison, which if im totally honest put me right off him. He spent much of the time showing us pictures of himself with his family to prove to everyone how 'normal' he is, even mentioned that he doesnt cheat on his wife. Guess he must be super trustworthy right? Some people ate it up and purchased his $99 tickets and I took it with a grain of salt and left. I suppose we will see what happens if the supposed bubble bursts.

 

We went along to the Sydney night.
Really he is a great speaker and that's the main reason we went. It's engaging and interesting to property people like us.

The topics list were pretty much covered above already.

He's bearish on Sydney and in particular the apartment glut which I think is smart. He's quite strong about selling assets that are at the top (marker timing) although I don't agree with this due to transaction costs and CGT and long term plans. But with the APRA changes, these ideas have more merit to lock in your profit if you can't access via equity finance.

He does not consider equity gains a profit and states it's not profit until it's cash (sold). Prices can come down.

He's still an accountant at heart, focuses on cashflow and managing risk which can be smart and safe.

It is refreshing in a way to see a property industry participant not talking up the market and not pushing more buying. He pushes the fact that people don't know what they are doing and they need the education.

Our main takeaway is to avoid buying apartments at all costs, and consider selling if we do get any nice offers above marker value.