BBQ's Around Australia Were A Big Success!

I've just finished going around the county in January seeing our members and investors at open BBQ's in the parks. This finished with about 60 people visiting my home at a BBQ last Saturday. It is a great opportunity for new people to mingle with past investors and ask them searching questions about their success. Also, for those who are new to investing to come along and seek advice from those more experienced and talk about the many problems that can pop up such as; body corporates, accounting, tax, onsite managers, vacancies, trusting letting agents information. Time to get the good oil from experienced investors.

This opportunity is provided by the Club and from no others anywhere else in the world! That is why we create more millionaires than all the rest combined. We believe this is a world wealth creation record.

As with the other BBQ's, I took the opportunity to let attendees know the traps out there that will confront us in 2018 and how to avoid them. The measures that are planned in our next budget they will affect your investments and how to win from these changes.

On the socialising side, we did a French champagne tasting and gave our investors a chance to taste them all and work out which ones they preferred. As a plant, I put in an Australian sparkling that was less than $20. While it wasn't number 1, it did come in equal number 2. Interestingly, the dearest French champagne didn't get a vote!

The whole day was a fun despite the rain. We had enough room indoors for everyone and I guess it encouraged them, even more, to mingle and talk with a stranger.

My thoughts then turned why the many, many "experts" out there don't do this. Why don't they host open events where everyone is invited? Is it out of fear? "if I did that there would be blood all over the floor and it would be mine!"

How can you protect yourself? Over the years we've seen many property "experts" come and go and in the wake leave shattered lives from their doubtful advice. I thought in this week's insights I would give some tips on how to test and avoid these people.

Test their credibility - Part 1 Ask for the details of all the properties they own in writing before you proceed further. You would need the property address, the date they bought it and the amount they paid and the value now, and whether do they still own it. Why in writing?

The relevant State authorities want someone who is exposed and would love to taken action, however, to find that everything is verbal. Nothing in writing. So request something in writing and it lets you know that you can trust these people and they have a long experience of success in property.

Other professionals I recommend this process whether you're going to a new mechanic, solicitor, barrister or financial planner. What is their background? How successful have they been? Get the results in writing.

Test their credibility - Part 2 So you've done the first step and you're reasonably sure they are talking from a position of knowledge and not out of a sensational American textbook that they read. Now ask for testimonials. They should have a list of people that they have successfully helped going way back. They should happily give you social proof or show you this extensive list at least. In the Club since its inception, we encourage our past buyers to share their investment journey ups and downs, to new members and potential buyers to give them the opportunity to test our success rate.

The Club has countless member success stories of people that we have helped. We have well over 5,000 members that have created wealth through property with our assistance. I believe this is a world wealth creation record. How many can your "expert" show you?

My local mechanic has proved to be extremely reliable which has protected me and my car! He's happy to give out past performance to a future client.

Evasive tricks Be prepared by the "expert" who will have some devious tricks to try and get past giving you the above facts. They will say they have bought their properties in a Trust. They still can give you the name of the Trust, and the location of the properties. I would sincerely doubt the long-term knowledge of real wealth creation when they propose a Trust structure. This feeds accountants and solicitors annually for their returns that are necessary. But as the property grows in value and this value is borrowed it is only tax-free to the Trust. When you receive this money you have to declare it as a taxable income.

Invasion of Privacy They will use this excuse to say they can't give you the names and details of their past clients. Balderdash! It simply requires the client to agree to be contacted by future respective clients of theirs. We do and everyone happily ticks the box. You can ask them to go back and make this request of people they have helped, say five people from 5 years ago, or 3 years ago and even 1 year ago. This would give you a reasonable cross-section of people and they have to be real. With it being in writing then the relevant State authorities can take action because they now have written evidence of misrepresentation and possibly criminal actions if these "testimonials" are plants.

Is this good manners? They'll make you feel like this is an unreasonable request of yours and "everyone else". They are totally are unreasonable. They are asking you to put your future in their hands. Wrong advice can wreck your future. I've had numerable people who have followed "experts" into mining towns and far-flung regional areas that on the surface the figures look fantastic. When the main employer shuts down or lays off disaster strikes. No rent coming in and high mortgages to pay. The result is inevitably mortgagee in possession and a bad credit rating. So you have every right to demand the above protections before you put your future in their hands.

Kevin Young Club Founder