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Empower Wealth experiences?

Discussion in 'Property Experts' started by miked, 5th Aug, 2015.

  1. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Perth WA
    How confident are you in pinpointing good areas? You could look at using a BA in the area you're interested in along with an investment/portfolio orientated broker with similar effect. In reality, portfolio planning too far into the future is a little pointless as there are too many variables within personal circumstances, lending environment, property market etc.

    Starting with a set outcome in mind (ie - I need 'x' to retire) and a good idea of borrowing capacity will give you a the framework for the types of properties you need to purchase to get there.
     
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  2. Alfiesausagedog

    Alfiesausagedog Well-Known Member

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    Brisbane
    Hi Jess,

    At this stage I'm very early on in my journey and thus am not confident enough to pin point an area for investment. When looking to buy my first house, I will definitelty use a BA.
     
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  3. Ian87

    Ian87 Member

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    Just bringing this thread back up, has anyone had any experiences with Empower Wealths buyers agent services? Would love to hear from you.
     
  4. MTR

    MTR Well-Known Member Premium Member

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    I would ensure I understand markets before I employed a BA, they are going to give you their spin on the patch which may/may not be the way to.... so you don't know what you don't know if you understand what I am saying.

    There is no rush markets are close to peak or peaking, time to learn less risk IMO.
     
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  5. Hwangers

    Hwangers Well-Known Member

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    Love their property couch podcasts, simple and informative - but like they keep on repeating, should outsource the effort but never outsource the knowledge! end of the day its my money so at least should have an understanding of what they are recommending

    imo have a sneaky suspicion ben/bryce are sussing out WA and far north QLD for themselves (think ben bought in townsville recently?)
     
  6. D.T.

    D.T. Adelaide Property Manager Business Member

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    Adelaide, SA
    I can confirm (inside knowledge :p) they've bought properties for clients in the inner fringe Adelaide recently.
     
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  7. Hwangers

    Hwangers Well-Known Member

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    they sure are! they let that one slip as well :)
     
  8. Jaye Kershler

    Jaye Kershler Well-Known Member

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    Location:
    Caloundra
    In regards to the property plan how are they paying the loans down

    I understand interest only but. Do they ever retire the debt ?
     
  9. Jaye Kershler

    Jaye Kershler Well-Known Member

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    IMG_4629.PNG IMG_4630.PNG See pictures below how to retire on 2000 a week
     
  10. Propertyman

    Propertyman Active Member

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    I too am interested in how they retire debt if all loans are IO over the period?
     
  11. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    They simply won't be able to continually roll over IO periods to be IO forever any more. There will have to be a plan to reduce debt, either by paying it down via P&I payments, or selling.

    That said, if you read the words in the above picture, it does say 'the debt being paid down over time'. Maybe they assume a revert to P&I at some stage.
     
  12. Christian

    Christian Member

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    Sydney
    They pay down debt by filling up all the "offset buckets/accounts" attached to the loans.
    Where the funds come from to fill the buckets, I don't know.
     
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  13. Danyool

    Danyool Active Member

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    I like the "free" Podcasts, but can't help keep thinking of the cost of subliminal messages - "use our services!" :)
     
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