M.Y's Thrive, not just Survive Seminar.
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Totally agree Francesco. I have seen MY a few times, the last time a couple of years back in Sydney and other than a couple of powerpoints showing current median prices, almost all of the rest of the slides seemed very familiar. Might have been useful for first timers but otherwise from my perspective not the best use of 4 hours or so.Also getting more than a little peeved with the sales pitch for things like his new book or the mentorship program - you know the usual 'special offer just for tonight', 'cross out the cost for your spouse/partner', 'first 10 people to sign up get dvds worth xxxx',etc. Just say the cost for 2 of you is xxx , take it or leave it. Just my 2c worth
lol it was funny when he made the joke about his coach helping him because he is blind. As he said this he literally tripped over something on the stage lmao
How funny was that.Found him to be very motivational. I got a lot out of the day!
MY confused the begeezus outta my folks, going against EVERY grain in the stuff i've been telling them for the past two years.
they now think they know it all because one behind-the-times dpsht spent an hour glossing over his "basics" for property investing.
*sigh*
they now think they know it all because one behind-the-times dpsht spent an hour glossing over his "basics" for property investing.
*sigh*
My My....to whom are you referring ??
i refer to Michael Yardney.
"don't buy strata"
"only buy large houses on large blocks - this is best for max CG"
"public transport isn't essential if you live close to a highway"
blahblahblah
when i've been saying
"location location location"
"buy something with a yard close to schools, shops and no more than 5 minutes walk to a train station or bus stop"
"strata or green title is fine - it doesn't matter in the end"
"look for solid yields and new-er homes to max your depreciation"
"avoid satellite cities (this was the height of the boom) - any correction will hit there first".
this was after a long and drawn out risk analysis assesment of their goals and comforts.
now i'll have to carry my parents in their old age. yay.
"don't buy strata"
"only buy large houses on large blocks - this is best for max CG"
"public transport isn't essential if you live close to a highway"
blahblahblah
when i've been saying
"location location location"
"buy something with a yard close to schools, shops and no more than 5 minutes walk to a train station or bus stop"
"strata or green title is fine - it doesn't matter in the end"
"look for solid yields and new-er homes to max your depreciation"
"avoid satellite cities (this was the height of the boom) - any correction will hit there first".
this was after a long and drawn out risk analysis assesment of their goals and comforts.
now i'll have to carry my parents in their old age. yay.
I checked it out. A very long 4 hours (starting at 6pm with only a tea and biscuits break).
Explained about the 4 levels of investor - basically everybody listening was probably a level 3 - the only way to become a level 4 is to do a mentorship or be very skilled.
Investing at the top level is all about mindset.
Talked about the state of the economy, how finance is getting harder to get and we are in another cycle. Recessions are not new!
Ed Chans presentation was good. Interesting info about the various kinds of trusts and SMSF.
Overall ...
a bit long,
pushed the seminars a bit hard,
good general motivational presentation.
Explained about the 4 levels of investor - basically everybody listening was probably a level 3 - the only way to become a level 4 is to do a mentorship or be very skilled.
Investing at the top level is all about mindset.
Talked about the state of the economy, how finance is getting harder to get and we are in another cycle. Recessions are not new!
Ed Chans presentation was good. Interesting info about the various kinds of trusts and SMSF.
Overall ...
a bit long,
pushed the seminars a bit hard,
good general motivational presentation.
Out of fairness in MY's (oddly he isnt defending himself), his mantra is buy something (including strata-ed IPs) you can add value to in inner blue chip areas where there's a large tenant pool and infrastruc. But I didnt attend his latest seminar, and he might have changed his tune. Even so, his recommendations have remained pretty consistent thru the years.
By and large I agree with what he says but I think equally good and in some cases better prospects exist in middle/outer ring. That's something he doesnt espouse.
By and large I agree with what he says but I think equally good and in some cases better prospects exist in middle/outer ring. That's something he doesnt espouse.
Yeah its harder to go wrong in the inner blue chip suburbs buying older median priced stock.
May be better opps further out, but more risk especially for beginners.
1. This is the "mutual fund" version of property investing. Easy, steady - a no-brainer; a given. However; not necessarily.
Buy something, keep pouring money into it each month (neg geared) and wait a while.
2. This is the level 4 investor version - requires more work, more skill, can be far less cash input needed, potentially better returns.
