Steve McKnight Webinar today

Discussion in 'Property Experts' started by MTR, 9th Aug, 2020.

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  1. MTR

    MTR Well-Known Member

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    Anyway watch or listen to this today?
     
  2. MTR

    MTR Well-Known Member

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    I listened to this...... it was quite depressing, let me slit my wrist

    He is basically saying that pandemic is going to get much worse in Australia and not to rely on the government as a long term plan/savior.


    He quoted graph below - seeing increase in wages today due to government handouts and it will all drop off.


    https://www.google.com.au/amp/s/amp.news.com.au/finance/economy/jobseeker-payment-pandemic-sparked-wage-loss-but-rise-in-bank-deposits/news-story/9ec5816d6adc24b08d7530ab24fad5ec


    H
    e stressed the need to look at an exit plan to ensure you have money to survive

    Now is not the time to grow wealth, its time to protect what you have. Its important not to be a forced seller in a downturn

    He spent 6 hours looking at covid data, he believes this may take years before we see some form of normality, ie borders open etc.
    We may see more waves and in different States
     
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  3. PropDir

    PropDir Well-Known Member Business Member

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    Hi MTR - yep, I did see part of it. He gave examples of historic 'black plague' and other such examples of worldwide pandemics and now the comparison with COVID.

    It will take years to recover, mainly from an economic standpoint.
     
  4. MTR

    MTR Well-Known Member

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    yes

    Warning for investors to get their finances in order now before the **** hits the fan

    I really am hoping he is wrong
     
    Last edited by a moderator: 11th Aug, 2020
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  5. ellejay

    ellejay Well-Known Member

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    It's the first time I've seen one of his webinars and I was a bit shocked by all the biblical references, prayers and the very sombre mood. It think if anyone watching was already very worried by covid it could have tipped them over the edge it was so intense.
    I think like a lot of us he's separated from family, and it's very tough emotionally.

    It was a good reminder though, to keep your financial house in order.

    This reminds me of the GFC, I understand that alot of people are hurting financially but I'm not and I don't personally know of anyone who is. It's easy to be complacent, so it was a good reminder that now isn't the time to go out on a limb or try something radical...and to make sure you have a plan B and a buffer.
     
    Last edited: 9th Aug, 2020
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  6. AndyPandy

    AndyPandy Well-Known Member

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    So what action will you be taking in light of this prophecy?
     
    Last edited by a moderator: 11th Aug, 2020
  7. MTR

    MTR Well-Known Member

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    Cashing up
    I have 5 houses under contract in US just to mitigate risk. One settled on Friday, others this week

    USD is weakening against AUD still at around 71, good time to bring some money back.
    will still hold 12 properties in US for cashflow

    I wont be buying any properties in Oz until dust settles or jumping into shares. Be watching markets closely

    I will still develop my 3 villas, plans with council at the moment. I will hold these for cashflow

    He also said we will now see a shift in Wealth, winners and losers

    I guess plan for the worst and hope for the best
     
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  8. The lucky duck

    The lucky duck Well-Known Member

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    Is there a recording?
     
  9. MTR

    MTR Well-Known Member

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    Face book, I am not on this
    Not sure if he is sending me something. Perhaps someone here has a link
     
  10. The lucky duck

    The lucky duck Well-Known Member

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    Did he say what to do? What sorts of falls is he predicting?
     
  11. MTR

    MTR Well-Known Member

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    The one thing I note about Steve is he is always ahead of the crowd, a very smart cookie. Not full of BS, everything is well researched

    In saying this he is working on worse case scenario why he said investors should do the same

    His not at all impressed with Premier of Melb, some serious errors here. Also the longer this goes, there will be more unrest
     
  12. MTR

    MTR Well-Known Member

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    He would not do this

    However, He is basically seeing a train wreck as we have no control.

    Stimulus package a temporary fix
     
  13. PropDir

    PropDir Well-Known Member Business Member

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    I agree, I am a big fan of his. I'd recommend reading from 0 to 130 properties in 3.5 years. This is one book I read early on when I started property investing.
     
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  14. MTR

    MTR Well-Known Member

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    yes I read this years ago
     
  15. The lucky duck

    The lucky duck Well-Known Member

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    I’m hearing that some are so freaked out that they are selling everything
     
  16. MTR

    MTR Well-Known Member

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    Really? Wow that sounds like panic

    Its business as usual manage risk, in other words debt. Rents are falling in some States and also property in some markets, how does or will this impact on you

    If things go pear shaped can or how will you survive?
     
  17. Player

    Player Well-Known Member

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  18. Trailblazer

    Trailblazer Well-Known Member

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    So that suggests now is the time to focus on high cash flow assets.
     
  19. MTR

    MTR Well-Known Member

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    Where do you get cashflow properties in Australia?
     
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  20. Trailblazer

    Trailblazer Well-Known Member

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    Boarding / Rooming
    Regional block of units