Two days ago, I was at Singapore Expo for Steven Molnar’s Real Estate Mastery Course. The event was scheduled to run from 9am to 9pm. Real estate investing is something that I’m inexperienced in, so I had hoped to learn something useful from the course.
The morning part of the course was a bit slow starting. We were taught by Steven about wealth and he also scratched the surface on some financial planning.
Then he gave an overview of different investment options, using “7 commandments” to highlight why property investment is a good option. It wasn’t quite what I came for and at times, I was close to dozing off.
Steven next shared a ten year plan whereby we could make an income of $180k from property every year. The plan works like this:
The refinancing option allows one to extract cash from the property without having to sell it. This would be good for avoiding the payment of capital tax gains. In Singapore where there is no capital gain tax, we could possibly just sell the property and pocket the entire $300k instead of refinancing it. 🙂
In my view, the success of this plan would depend on a few factors:
The 10-year plan would probably be too risky for most investors, but trying to do it for one or two properties might be viable.
How is it possible to buy property with no money down? We can’t obtain a 100% loan in Singapore but Steven suggests a few methods:
A few other tips I picked up from Steven include:
The last part of the seminar was on some of the risks of real estate investing.
Steven also promoted his 5-day Advanced Real Estate Mastery Course and an upcoming property development project to us. Are they good?
If you recall my earlier post on Steven Molnar, there seemed to be a couple of websites with negative feedback on Steven. Most of it was directed to his association with Henry Kaye.
However, if you look carefully at the posts in this forum, most of the negative posts were made by people who were new users to the forum. It seems that their sole purpose in registering seems only to discredit Steven Molnar. I can’t confirm this though.
Other than one other site, I couldn’t really find much feedback on Steven Molnar or his Advanced Real Estate Mastery Course. That site gave a good review for the course but a negative feedback on Empowernet. You might find them interesting:
With regards to the Ecoville project that Steven was promoting, I can’t really comment much on it without more research. If you are considering to invest in it, do check the valuation of the land (among other things) to make sure you are not overpaying for it. Remember what Steven taught us – do your own independent valuation.
Personally, I don’t like the idea of depositing $1k just for the chance to find out more about it.
I would like to end this post with a small bit of advice.
Attending a real estate course does not automatically make you an expert at real estate investing. Nor does it guarantee you wealth. It forms just one part of your preparation. The knowledge you acquire has to be put into practice and continously worked on for your saw to be sharp. This is no shortcut in investing. Great investors always do their homework.