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"Where's the money gone ?" - brilliant set of 4 Aussie videos + board game.
Adrian has pointed us to a brilliant set of 4 videos explaining how people who get into Real Estate investing on their journey to wealth can end up confused and asking: "Where's the money gone?"
See the first video inset into his webpage at:
http://7million7years.com/2008/12/14/a-journey-with-george/
Personally I think it's worth taking the time to watch all of them in sequence, but if you're in a hurry, go straight to the third one, and take it from there.
Video 1 - The 'Great Financial Freedom' Myth that keeps millions broke
http://www.onesherpa.com/personal-finances/the-great-financial-free...
Video 2 - Are You Making These ”Money Burning” Financial Mistakes?
http://www.onesherpa.com/personal-finances/are-you-making-these-mon...
Video 3 - How George set himself free of money worries
http://www.onesherpa.com/personal-finances/how-george-set-himself-f...
Video 4 - Wheres the money gone ?
http://www.onesherpa.com/products/wtmg-christmas-special
Sadly, after watching all the videos, they don't give you a blueprint which tells you how to do Real Estate investing correctly. Nevertheless, it is useful because they do highlight the problems you may be unaware of before you get started. For most people only come to feel: "Hey there's something's wrong here!" once they're in the middle of Real estate investing.
They point out that although you seem to be rich, (for you have a car, a house, and houses to rent), because your expenditure connected to all these things is so high, you're not increasing the number of dollars you actually get to see. And actually the finance house owns 80% of your stuff anyway, so your own equity in the whole operation is rather small.
So video 2 says: "Have you gone too quickly?" Have you taken on so much debt, that generates so much expenditure in itself, that if you then add in the bills associated with the upkeep of the properties, then it's inevitable that there are very few dollars left over to actually put in your wallet.
I get the impression that the onesherpa website, and its proponent Andee Sellman in the videos, have encountered people in this fix, and are willing to give advice on how to get out of this hole.
Think you can teach yourself? Then they'll sell you a game ("Where's the money gone?") so you can come to understand where you're going wrong. With a special half-price Christmas price for the next 7 days only, on just 100 copies of the game - just $200 and it's yours! Click the link for video 4 to read more.
If that's Aussie dollars, then AUS$200 equals US$132 (or UK£89).
See the first video inset into his webpage at:
http://7million7years.com/2008/12/14/a-journey-with-george/
Personally I think it's worth taking the time to watch all of them in sequence, but if you're in a hurry, go straight to the third one, and take it from there.
Video 1 - The 'Great Financial Freedom' Myth that keeps millions broke
http://www.onesherpa.com/personal-finances/the-great-financial-free...
Video 2 - Are You Making These ”Money Burning” Financial Mistakes?
http://www.onesherpa.com/personal-finances/are-you-making-these-mon...
Video 3 - How George set himself free of money worries
http://www.onesherpa.com/personal-finances/how-george-set-himself-f...
Video 4 - Wheres the money gone ?
http://www.onesherpa.com/products/wtmg-christmas-special
Sadly, after watching all the videos, they don't give you a blueprint which tells you how to do Real Estate investing correctly. Nevertheless, it is useful because they do highlight the problems you may be unaware of before you get started. For most people only come to feel: "Hey there's something's wrong here!" once they're in the middle of Real estate investing.
They point out that although you seem to be rich, (for you have a car, a house, and houses to rent), because your expenditure connected to all these things is so high, you're not increasing the number of dollars you actually get to see. And actually the finance house owns 80% of your stuff anyway, so your own equity in the whole operation is rather small.
So video 2 says: "Have you gone too quickly?" Have you taken on so much debt, that generates so much expenditure in itself, that if you then add in the bills associated with the upkeep of the properties, then it's inevitable that there are very few dollars left over to actually put in your wallet.
I get the impression that the onesherpa website, and its proponent Andee Sellman in the videos, have encountered people in this fix, and are willing to give advice on how to get out of this hole.
Think you can teach yourself? Then they'll sell you a game ("Where's the money gone?") so you can come to understand where you're going wrong. With a special half-price Christmas price for the next 7 days only, on just 100 copies of the game - just $200 and it's yours! Click the link for video 4 to read more.
If that's Aussie dollars, then AUS$200 equals US$132 (or UK£89).
Comment
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Comment by Adrian on December 16, 2008 at 10:11pm -
I'd like to see another video outlining the 'solution' then I wouldn't mind seeing a product offering - in fact, I'd be delighted that there was an easy way to find out more, albeit for a fee: 1. Problem (videos 1 to 3), 2. Solution (Video 4), 3. Offering/s (board game, etc.) ... just one suggestion to get your vision out of Melb. into the wider world :)
KC points to an excellent video on Internet Marketing (Google the 'Million Dollar Napkin') that you also might find useful.
BTW: Video 1 was awesome ... amazing what you can do with some good info, a HD camera, and a whiteboard :)
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Comment by Andee Sellman, One Sherpa on December 15, 2008 at 8:52pm
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Hi Adrian and Kevin,
Thanks so much for viewing our videos and I'm glad they gave you some insight.
Would love to chat further and can I point you to a further post on our blog which answered a comment more specicf to real estate.
http://www.onesherpa.com/personal-finances/why-some-of-the-rhetoric-of-property-investment-gurus-doesn%e2%80%99t-quite-make-sense
We have a growing problem in Australia with so many people who have been trying to focus completely on GROWTH and forgetting YIELD and as a result have become ASSET RICH and CASH POOR. The Financial Fence is a technology which was invented about 8 years ago and we have also developed a whole educational programme around it. We're now looking to share it with people online rather than simply those around our home city of Melbourne. Love to chat with you guys more about it
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Comment by KC on December 15, 2008 at 2:14pm -
Yes Adrian, I'm with you about precisely how you are supposed to use "the fence". I get the impression that their intention is to highlight that they're familiar with people getting into a bit of a pickle on their journey to wealth, and these videos could help you realise that you're not alone in feeling you may be in a bit of a fix, through becoming over-extended.
But the "way out" of the difficulty isn't addressed - unless you discover it spontaneously by playing that game - but they don't actually say that's what you should do.
I've told them I like the videos and that I've done a blog-post, so maybe they'll get back to us with clarification.
I see there's a book with the same title by the guy in the video, Andee Sellman, which you can buy from their website, or pay more through second-hand booksellers on Amazon.
It would be fascinating to see "the whole picture" that they would paint on how to build your wealth without getting into the sort of pickle they describe so well in the videos.
Thanks for bringing them to our attention - they raise some thought-provoking issues.
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Comment by Adrian on December 15, 2008 at 1:45pm
- Thanks KC ... I like video # 1; the rest are pretty repetitive. I didn't understand the 'fence' in Video # 3; I must be thick as two planks :)) Don't bother watching the other videos (but, DO see video # 1) if you're looking for the 'answer'; there isn't one, except: "buy my board game" ...
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