Robert Kiyosaki is a extremely well-known financial guru from the USA. His major claim to fame was to author the book "Rich Dad, Poor Dad" which is one of the most popular and best selling business books of all time. The book has sold over 26 million copies and has been on the New York Times bestseller lists for over 6 years.
If you haven't already I highly recommend reading Rich Dad, Poor Dad. It is a story about Robert and his 2 fathers, one is real father and the other a friends father. The book discusses their 2 different approaches to the subject of money and the effect both viewpoints had on him from childhood. The book is real wakeup call to most people as its main premise is the "Rich do not work for money, the rich have their money work for them.
The full title of the book is: Rich Dad, Poor Dad. What the rich teach their kids that the poor and middle class do not.
The title sets the scene for the book and there is a strong emphasis on education is the book. There are many mantras repeated throughout the book such as:
Instead of saying "I can't afford it" Say "How can I afford it?
By saying "I can't afford it" instantly stops your mind from working on solving the probelm. Asking "How can I afford it" puts your mind to work.
"The Rich Don't Work from money, The Rich have their money work for them"
Essentially this means that the Rich do not trade hours of their time for money. Very few people can ever get rich simply working in a job. The rich have their money work for them in businesses and investments so that they do not physically have to work. The rich also use many forms of "Leverage" which is the ability to do more with less. Such Leverage through OPT, Other Peoples Time and OPM other peoples money.
Other books in the series written by Robert Kiyoskai are: Rich Dads Cashflow Quadrant, Rich Dad's Guide to investing, Rich dad's Rich Kid Smart Kid, Rich Dad's Retire Young, Retire Rich, Rich Dad's Prophecy, Rich Dad's Success Stories, Rich Dad's Who took my money.
Auckland, New Zealand
Monday, December 17, 2007
Review - Presidential Inner Circle
Presidential Inner Circle is a company under the Richmastery umbrella. The PIC is a private club that provides unique experiences for their members with a success and business focus. Some of their events include Lunches with the worlds top business people and celebrities, Ferrrari/Porsche days and other one-off special elite events.
The club looks like a lot of fun with a good variety of events to cater to a wide a range of tastes. Membership cost is in the $10,000 region. Which I think is quite reasonable considering some of the heavyweights they have secured in their first year such as Richard Branson, Donald Trump and Bill Clinton.
They run a range of events with internationals celebrities as well as local events with local business people and personalities such as Grant Dalton, Dean Barker, Michael Hill, Ian Taylor.
Essentially the group is just a networking opportunity for wealthy/success minded people but obviously the deals you can strike can be worth a significant amount. The other purpose of the group is to provide elite experiences not available anywhere else. The kind of events that other a select few people will ever attand. You have to be a person of stature, famous or personally know the celebrities but Inner circle groups the world over are meeting the need of very successful people to network and socialise with like-minded people.
The club looks like a lot of fun with a good variety of events to cater to a wide a range of tastes. Membership cost is in the $10,000 region. Which I think is quite reasonable considering some of the heavyweights they have secured in their first year such as Richard Branson, Donald Trump and Bill Clinton.
They run a range of events with internationals celebrities as well as local events with local business people and personalities such as Grant Dalton, Dean Barker, Michael Hill, Ian Taylor.
Essentially the group is just a networking opportunity for wealthy/success minded people but obviously the deals you can strike can be worth a significant amount. The other purpose of the group is to provide elite experiences not available anywhere else. The kind of events that other a select few people will ever attand. You have to be a person of stature, famous or personally know the celebrities but Inner circle groups the world over are meeting the need of very successful people to network and socialise with like-minded people.
Review - Subway
Lots of New Restaurnants
I thought it a good time to give a review on Subway Restaurants. In the area I live there seems to be more and more restaurnats opening per suburb. Sometimes several in the same suburban street! One of the the worlds most successful and well known franchises, Subway has literally taken the world by storm. Now with over 28,000 Restaurants in 86 countries including 197 in New Zealand.
Eat Fresh
The menu at Subway has always been funny to me. I would go thru stages of buying Subway 3 times a week then go thru periods of not eating it for months because I didn't like the last time I ate it. Subway can leave a funny taste in your mouth (no pun intended). Their mantra is of course "Eat Fresh" and while the food looks fresh, it looks very uniform and possibly processed.
Genetic Engineering
In New Zealand there was an item on the news several years ago that Subways baker Yarrows used GE wheat in their bread. Subway do promote in each store now that their bread is baked fresh daily on site. But baking dosen't necessarliy mean they make the actual dough. So I assume that Yarrows stil make thedough and each store "bakes" as in puts the dough in the overn every day. So I believe that their bread still contains GE wheat. Their vegetables are all so uniform it makes you wonder if they are GE as well to get the consistency.
Business Model
As a business model though I believe a Subway franchise would be quite a good money spinner. A typical Sub costs around $8.00. The ingredients to make that can't be more than $4.00
Auckland, New Zealand
I thought it a good time to give a review on Subway Restaurants. In the area I live there seems to be more and more restaurnats opening per suburb. Sometimes several in the same suburban street! One of the the worlds most successful and well known franchises, Subway has literally taken the world by storm. Now with over 28,000 Restaurants in 86 countries including 197 in New Zealand.
Eat Fresh
The menu at Subway has always been funny to me. I would go thru stages of buying Subway 3 times a week then go thru periods of not eating it for months because I didn't like the last time I ate it. Subway can leave a funny taste in your mouth (no pun intended). Their mantra is of course "Eat Fresh" and while the food looks fresh, it looks very uniform and possibly processed.
Genetic Engineering
In New Zealand there was an item on the news several years ago that Subways baker Yarrows used GE wheat in their bread. Subway do promote in each store now that their bread is baked fresh daily on site. But baking dosen't necessarliy mean they make the actual dough. So I assume that Yarrows stil make thedough and each store "bakes" as in puts the dough in the overn every day. So I believe that their bread still contains GE wheat. Their vegetables are all so uniform it makes you wonder if they are GE as well to get the consistency.
Business Model
As a business model though I believe a Subway franchise would be quite a good money spinner. A typical Sub costs around $8.00. The ingredients to make that can't be more than $4.00
Auckland, New Zealand
Review - Auckland Property Investors Expo
November 2007, Auckland Showgrounds
I attended the Auckland Property Investors Expo on day 1. I was expecting a little more from a prestigious sounding event. The expo was extremely small and I would have thought there would be more exhibitors and patronage. A possible reason for the small scale is the fact that the property boom and surrounding hype has died down stopping Property Investing from being investing flavour of the month. At least to Mom and Dad investors.
The first seminar I attended was the Ron Hoy Fong hour. Ron has been featured on many Investing programs on TV and he is a well known Richmastery Graduate. I have always liked Ron Hoy Fong after meeting him at a Richmastery seminar. He expressed some insightful concepts about the property cycle. In particular he talked about the wave of property price rises during the last boom in Auckland. He says that in the last 2 year boom period, the first rise of prices in Aucklands Central suburbs (Parnell, Mt Eden etc) took 2 years for those same rises to hit the outermost Auckland suburbs like Pukekohe. Essentially a ripple effect of prices rises, from the CBD, outwards in all directions. It is a very intriguing concept.
The next seminar I went to was a short presentation by GRA (Gilligan Rowe and Associates). They discussed Propert Investing Structures such as trusts and LAQC companies. They also covered tax minimisation techniques. I had seen the bulk of a standard GRA presentation before so the info was nothing knew but they have some interesting insights on immigration and property price rises.
I attended a presenation by How2 which seem to be an amateur developers advisory service. They talked alot of about different ways to develop property and how to assess possible development options prior to purchasing a property. I was alittle confused at how their business works but from what I understood they sell software to help you manage the development process and run a few seminars for more intensive techniques.
Hotspace was an interior design agency. Essentially they send a consultant around to the property you'd like to sell and advise on various design aspects that could be applied to give the property a lift in preparation for selling to obtain a higher price. Their before and after hptos did show dramatic improvements in interior and exterior changes which really did lift the appeal of the properties. Hotspace are not contractors or project managers, simply just consultants that come in and advise on how to decorate.
Sue Tierney, President of the Auckland Property Investors Association was up next to talk about her mortgage broking business Mortgages by Design. She had some interesting takes on banks and how they assess loan applicants. She explained the ratios they apply to applications such as (LVR) Loan to Value and (UCM) Uncommitted Monthly Income. She also fielded lots of questions from audience members on aspects of mortgage broking fitting their personal circumstances.
Sue also spoke in the next section about the Auckland Property Investors Association and the benefits to be gained by joining. Quite a convincing presentation and I know of a few people that signed up. Essentially the networking and industry news aspect of belonging to an association are great selling points.
All in all the Expo I found to be vsmaller than I expected and light on good content. It With 2 seminar rooms they were only ever each half full. I suppose the expo was really just a showcase of the support businesses to the private mom and Dad investors market.
Auckland, New Zealand
I attended the Auckland Property Investors Expo on day 1. I was expecting a little more from a prestigious sounding event. The expo was extremely small and I would have thought there would be more exhibitors and patronage. A possible reason for the small scale is the fact that the property boom and surrounding hype has died down stopping Property Investing from being investing flavour of the month. At least to Mom and Dad investors.
The first seminar I attended was the Ron Hoy Fong hour. Ron has been featured on many Investing programs on TV and he is a well known Richmastery Graduate. I have always liked Ron Hoy Fong after meeting him at a Richmastery seminar. He expressed some insightful concepts about the property cycle. In particular he talked about the wave of property price rises during the last boom in Auckland. He says that in the last 2 year boom period, the first rise of prices in Aucklands Central suburbs (Parnell, Mt Eden etc) took 2 years for those same rises to hit the outermost Auckland suburbs like Pukekohe. Essentially a ripple effect of prices rises, from the CBD, outwards in all directions. It is a very intriguing concept.
The next seminar I went to was a short presentation by GRA (Gilligan Rowe and Associates). They discussed Propert Investing Structures such as trusts and LAQC companies. They also covered tax minimisation techniques. I had seen the bulk of a standard GRA presentation before so the info was nothing knew but they have some interesting insights on immigration and property price rises.
I attended a presenation by How2 which seem to be an amateur developers advisory service. They talked alot of about different ways to develop property and how to assess possible development options prior to purchasing a property. I was alittle confused at how their business works but from what I understood they sell software to help you manage the development process and run a few seminars for more intensive techniques.
Hotspace was an interior design agency. Essentially they send a consultant around to the property you'd like to sell and advise on various design aspects that could be applied to give the property a lift in preparation for selling to obtain a higher price. Their before and after hptos did show dramatic improvements in interior and exterior changes which really did lift the appeal of the properties. Hotspace are not contractors or project managers, simply just consultants that come in and advise on how to decorate.
Sue Tierney, President of the Auckland Property Investors Association was up next to talk about her mortgage broking business Mortgages by Design. She had some interesting takes on banks and how they assess loan applicants. She explained the ratios they apply to applications such as (LVR) Loan to Value and (UCM) Uncommitted Monthly Income. She also fielded lots of questions from audience members on aspects of mortgage broking fitting their personal circumstances.
Sue also spoke in the next section about the Auckland Property Investors Association and the benefits to be gained by joining. Quite a convincing presentation and I know of a few people that signed up. Essentially the networking and industry news aspect of belonging to an association are great selling points.
All in all the Expo I found to be vsmaller than I expected and light on good content. It With 2 seminar rooms they were only ever each half full. I suppose the expo was really just a showcase of the support businesses to the private mom and Dad investors market.
Auckland, New Zealand
Review - Fastway Couriers
Worst Courier Company in New Zealand
Fastway Couriers have got to be the worst courier company we have ever dealt with. Their customer serivce is the absolute pits. I really do wonder how they have survived at all. I suppose because they are probably the cheapest courier service around. They seem to win lots of awards for franchising. Easy to sell a franchise, hard to run the business well.
Whenever we had an issue with a delivery that had gone missing. I.e. a customer complains that their order hasn't arrived yetr. We would ring the office and sometimes it would take us about 6 attempts over 2 days jsut to speak to an actual person, let alone get even close to resolving the issue.
This wasn't a one-off incident. Everytime we had an issue with a delivery we would ring them. If you were able to speak to a person within 3 attempts over the day it was a good day. All the while you're customer is asking you what is happening, where is my order!
Once you actually speak to a person you'd think your problems would be sorted but its just the beginning. The staff or better still the systems are rubbish and it takes about 3 days to get an answer. Not good enought for a business that wins all these supposed franchise awards. Franchise awards are for good systems, and Fastway couriers is rubbish. Now don't get me wrong we haven't sampled any other office, other that Auckland main head office. But hey, in the businest office you'd expect the fastest result. They need to hire more staff but are obviously trying to cut costs
Review - PBT Couriers
PBT Couriers Auckland
After giving such a bad review about Fastway Auckland, I need to offer an alternative! PBT are the best courier service we have used. Reasonable Pricing, Signature Delivery and some of the best courier customer service around.
Background
The company was started as Peter Baker Transport in 1972 by Peter Baker. Originally a trucking company they added the courier arm in the late 90s. PBT Couriers have grown to be a major player in the National Courier market.
Online Package Tracking
PBT have a comprehensive online tracking systems where you can track the progress on your package on its way to you. You are given a tracking number and each time the package changes hands (ie from pickup driver to depot, from depot to truck) the operator will scan the barcode on the package. Each time the barcode is scanned the transfer shows up on the online tracking record. This way you can see the exact times when the package moved thru each stage in transit.
Customer Service
On the odd occasion we need to check up on a delivery the PBT staff are always great to talk to. And hey you can actually speak to someone on your first call! They have the systems in place to deal with an query. Their online tracking systems are excellent and you can actually see each change of hands with the package. Not just the latest change like on the "Courier Post" Website.
Also when a staff member follows up on a delivery for you, they stick to their word and do call you back. They really do go out of their way to help!
I highly recommend looking at using PBT Couriers if you are sending 5 or more packages per day!
Auckland, New Zealand
After giving such a bad review about Fastway Auckland, I need to offer an alternative! PBT are the best courier service we have used. Reasonable Pricing, Signature Delivery and some of the best courier customer service around.
Background
The company was started as Peter Baker Transport in 1972 by Peter Baker. Originally a trucking company they added the courier arm in the late 90s. PBT Couriers have grown to be a major player in the National Courier market.
Online Package Tracking
PBT have a comprehensive online tracking systems where you can track the progress on your package on its way to you. You are given a tracking number and each time the package changes hands (ie from pickup driver to depot, from depot to truck) the operator will scan the barcode on the package. Each time the barcode is scanned the transfer shows up on the online tracking record. This way you can see the exact times when the package moved thru each stage in transit.
Customer Service
On the odd occasion we need to check up on a delivery the PBT staff are always great to talk to. And hey you can actually speak to someone on your first call! They have the systems in place to deal with an query. Their online tracking systems are excellent and you can actually see each change of hands with the package. Not just the latest change like on the "Courier Post" Website.
Also when a staff member follows up on a delivery for you, they stick to their word and do call you back. They really do go out of their way to help!
I highly recommend looking at using PBT Couriers if you are sending 5 or more packages per day!
Auckland, New Zealand
Review - New Zealand Herald
I had always wanted a subscription to the New Zealand Herald. I enjoyed reading it on weekends for years. I deceided to go the whole hog and subscribe to the daily service. It went well for about 3 months, then I started running out of time to read it all.
Then the bad news starting coming. Doom and Gloom. Not want you want to read when you are about to start the business day!
So I cancelled the subscription. Perhaps in boom market time I will re subscribe :)
Auckland, New Zealand
Then the bad news starting coming. Doom and Gloom. Not want you want to read when you are about to start the business day!
So I cancelled the subscription. Perhaps in boom market time I will re subscribe :)
Auckland, New Zealand
Review - Burger Fuel
Introduction
Burger Fuel is a gourmet Burger chain located in New Zealand. Aimed at the higher end of the fast food market prices for their burgers are typically $8-12, and a combo can set you back $17+. Burger Fuel has become extremely popular and now has 20 stores in New Zealand and 2 stores in Australia.
History
The concept was invented by founder Chris Mason in 1995. The first store opened in 1996 on Ponsonby Road. Soon 2 stores were operating with the second in Takapuna. Steadily they grew and now have 20 stores with at least 10 in Auckland and the rest in the North Island.
Food
While pricey, the food is extremely good. They use quality fresh ingredients and the burgers are a quite large. Generally you will be fine with just a burger. Burger and fries is a big effort. They are based on the Burger Wisconsin style with big buns and salad with relish. They have an extensive selection of Burgers with Fish, Chicken, 1/3 Pound Beef. They also have lots of vegetarian options and even Vegan options. Recently they have added Gluten Free Buns to their menu further extending their appeal.
They use their own special Garlic Aioli in their burgers and also as a condiment along with their chips.
The Business
Burger Fuel is run by the franchise model. Each store is independently owned by Franchisees under the head office. (except their 2 company owned stores, 1 in NZ 1 in Aus) Franchisees pay 6% of monthly turnover the head office and also contribute 4% of turnover towards a company wide marketing fund.
Going Public
Burger Fuel has recently gone public and listed on the NZAX Alternative exchange. Unfortunately their float was not as successful as they had hoped. This is for 2 main reasons.
1. The Shares Were Extremely Overpriced.
They were offering 25% of the company for 15 million dollars, valuing the company at 60 million. With no turnover! I believe the shares were at least 4 times overpriced possibly more. At 15 million the offer is stomachable. They have been singing the praises of it being a long-term growth stock which of course is the answer fools accept. They only managed to sell half of the 15 million shares on offer.
The share price opening at $1 is now around the 60c mark. Burger Fuel aggressively targeted their die-hard customers to purchase shares because they knew real investors wouldn't touch an overpriced risky stock with no earnings guidance. I feel sorry for the loyal "non business thinking" customers who shelled out their hard earned cash - $1000 minimum for 1000 shares thinking they were going to make moeney. Their "investment" is now worth $600. Would they still think Burger Fuel was so great? Its also a shame for the franchisees who independently run each store and of course bear the commercial brunt first hand of any customer backlash. Why rip off your best customers?
2. No Earnings Guidance.
To list they created a brand new company called Burger Fuel Worldwide Limited. This company is the head company that oversees the stores and holds the intellectual property. They do not own the 20 stores or the stores turnover. The directors would not give an indication of either turnover or when they would make a profit. If fact they mentioned that they would not make a profit for several years.
It's interesting because they only receive 6% of stores turnover. System wide sales were only 15 million during the 2006/2007 year so 6% of this figure would net the head company only $900,000 in turnover. Hardly great earnings for a $60 million dollar company as they suggest. These figures would give a Price to Sales ratio of 1.5%. Let alone Price to Earnings. They still need to cover all their costs out of that 900K including staff costs for all the extensive number of head office staff they profiled in their prospectus.
They would also receive a 4% marketing contribution from each store but this cannot be counted as income because a) it is to be spent of advertising and b) they shouldn't be making a profit off the marketing contribution fund. Their accounts would be scrutinised as they will be public knowledge. Not a good idea to rip off or under market the franchisees.
To make an decent money say $15 million in turnover for the head company (not 1.5 million) received from stores the system wide sales would need to be 150 million. And say 200 stores. Its a big jump to go from 20 stores to 200.
Now of course time will tell whether the shares turn out to be successful but I have my hunches the cream has been taken by the directors at IPO already.
Auckland, New Zealand
Burger Fuel is a gourmet Burger chain located in New Zealand. Aimed at the higher end of the fast food market prices for their burgers are typically $8-12, and a combo can set you back $17+. Burger Fuel has become extremely popular and now has 20 stores in New Zealand and 2 stores in Australia.
History
The concept was invented by founder Chris Mason in 1995. The first store opened in 1996 on Ponsonby Road. Soon 2 stores were operating with the second in Takapuna. Steadily they grew and now have 20 stores with at least 10 in Auckland and the rest in the North Island.
Food
While pricey, the food is extremely good. They use quality fresh ingredients and the burgers are a quite large. Generally you will be fine with just a burger. Burger and fries is a big effort. They are based on the Burger Wisconsin style with big buns and salad with relish. They have an extensive selection of Burgers with Fish, Chicken, 1/3 Pound Beef. They also have lots of vegetarian options and even Vegan options. Recently they have added Gluten Free Buns to their menu further extending their appeal.
They use their own special Garlic Aioli in their burgers and also as a condiment along with their chips.
The Business
Burger Fuel is run by the franchise model. Each store is independently owned by Franchisees under the head office. (except their 2 company owned stores, 1 in NZ 1 in Aus) Franchisees pay 6% of monthly turnover the head office and also contribute 4% of turnover towards a company wide marketing fund.
Going Public
Burger Fuel has recently gone public and listed on the NZAX Alternative exchange. Unfortunately their float was not as successful as they had hoped. This is for 2 main reasons.
1. The Shares Were Extremely Overpriced.
They were offering 25% of the company for 15 million dollars, valuing the company at 60 million. With no turnover! I believe the shares were at least 4 times overpriced possibly more. At 15 million the offer is stomachable. They have been singing the praises of it being a long-term growth stock which of course is the answer fools accept. They only managed to sell half of the 15 million shares on offer.
The share price opening at $1 is now around the 60c mark. Burger Fuel aggressively targeted their die-hard customers to purchase shares because they knew real investors wouldn't touch an overpriced risky stock with no earnings guidance. I feel sorry for the loyal "non business thinking" customers who shelled out their hard earned cash - $1000 minimum for 1000 shares thinking they were going to make moeney. Their "investment" is now worth $600. Would they still think Burger Fuel was so great? Its also a shame for the franchisees who independently run each store and of course bear the commercial brunt first hand of any customer backlash. Why rip off your best customers?
2. No Earnings Guidance.
To list they created a brand new company called Burger Fuel Worldwide Limited. This company is the head company that oversees the stores and holds the intellectual property. They do not own the 20 stores or the stores turnover. The directors would not give an indication of either turnover or when they would make a profit. If fact they mentioned that they would not make a profit for several years.
It's interesting because they only receive 6% of stores turnover. System wide sales were only 15 million during the 2006/2007 year so 6% of this figure would net the head company only $900,000 in turnover. Hardly great earnings for a $60 million dollar company as they suggest. These figures would give a Price to Sales ratio of 1.5%. Let alone Price to Earnings. They still need to cover all their costs out of that 900K including staff costs for all the extensive number of head office staff they profiled in their prospectus.
They would also receive a 4% marketing contribution from each store but this cannot be counted as income because a) it is to be spent of advertising and b) they shouldn't be making a profit off the marketing contribution fund. Their accounts would be scrutinised as they will be public knowledge. Not a good idea to rip off or under market the franchisees.
To make an decent money say $15 million in turnover for the head company (not 1.5 million) received from stores the system wide sales would need to be 150 million. And say 200 stores. Its a big jump to go from 20 stores to 200.
Now of course time will tell whether the shares turn out to be successful but I have my hunches the cream has been taken by the directors at IPO already.
Auckland, New Zealand
Review - Richmastery Ltd
Richmastery in an Auckland based company that specialises in Financial Education, namely Property Investing Education. Started by Phil Jones and David Hows in 1999 it has grown to be the largest property education company in the country with revenues of $9 million per annum.
Their main business is running seminars, with additional mentoring groups as a side earner. They seem to get mixed reviews in the media. The first time I heard about them was on a TV program which labelled their 3-Day Property Seminars almost as cult-like in their management. The TV show did a really good job at giving them bad publicity! They showed a hidden camera inside the venue and people on their feet clapping. It really did look like something in a cult! So much so that I stayed away and cringed whenever I heard Richmastery.
The funny thing is that when I finally went to a teaser seminar from an ad I saw in the newspaper I was really impressed with the presentations and content! All the years I had avoided the company, they were really quite good! There 4 Hour seminars covered a lot of basic property strategies and we a great teaser to learn more. I think Phil Jones is a great presenter and a great salesman. Fascinating to watch with his comedic presenting style and his ability to break down the complex strategies into easy to understand pieces.
Richmastery's model is to invite the public to attend a FREE (Used to be $79 a head) Seminar to learn investing strategies from "Property Millionaires". The Free Seminar is essentially a 4 Hour Sales Pitch for their extensive 3-Day Seminar costing $2999. In addition they also provide optional mentoring services to guide and support you thru your property investing.
I must admit I have not attended their 3-Day Seminar but I have listened to numerous audio recordings put out by Richmastery and I have a fair idea of what happens at the property seminars and how they are structured. With this Blog being called Review Post I am not able to review the 3-Day seminar but if anyone would like to add even a few lines on their experience please do so at the bottm of this post. I love to hear first hand accounts, as opposed to the testimonials the the company puts out.
Did you gain your moneys worth from the seminar? Would you recommend others go? What did you like about the format of the weekend? What did you hate? What was missing?
Any comments are greatly appreciated in helping others decide whether to attend. Richmadstery's website can be viewed at: www.richmastery.com
Their main business is running seminars, with additional mentoring groups as a side earner. They seem to get mixed reviews in the media. The first time I heard about them was on a TV program which labelled their 3-Day Property Seminars almost as cult-like in their management. The TV show did a really good job at giving them bad publicity! They showed a hidden camera inside the venue and people on their feet clapping. It really did look like something in a cult! So much so that I stayed away and cringed whenever I heard Richmastery.
The funny thing is that when I finally went to a teaser seminar from an ad I saw in the newspaper I was really impressed with the presentations and content! All the years I had avoided the company, they were really quite good! There 4 Hour seminars covered a lot of basic property strategies and we a great teaser to learn more. I think Phil Jones is a great presenter and a great salesman. Fascinating to watch with his comedic presenting style and his ability to break down the complex strategies into easy to understand pieces.
Richmastery's model is to invite the public to attend a FREE (Used to be $79 a head) Seminar to learn investing strategies from "Property Millionaires". The Free Seminar is essentially a 4 Hour Sales Pitch for their extensive 3-Day Seminar costing $2999. In addition they also provide optional mentoring services to guide and support you thru your property investing.
I must admit I have not attended their 3-Day Seminar but I have listened to numerous audio recordings put out by Richmastery and I have a fair idea of what happens at the property seminars and how they are structured. With this Blog being called Review Post I am not able to review the 3-Day seminar but if anyone would like to add even a few lines on their experience please do so at the bottm of this post. I love to hear first hand accounts, as opposed to the testimonials the the company puts out.
Did you gain your moneys worth from the seminar? Would you recommend others go? What did you like about the format of the weekend? What did you hate? What was missing?
Any comments are greatly appreciated in helping others decide whether to attend. Richmadstery's website can be viewed at: www.richmastery.com
Subscribe to:
Posts (Atom)