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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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    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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    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?)
     
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  6. D.T.

    D.T. Specialist 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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    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 Well-Known 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 Active Member

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    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 Well-Known 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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  14. adelle

    adelle New Member

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    Hi Gonz45

    Thank you for your post on Empower Wealth. We to are a family with small children and small portfolio. I've been hunting high and low for someone trustworthy to help us develop a plan/strategy for the next 5/10/15 years but haven't found anyone that ticks the boxes? Did you eventually find someone to help you with your plan? Thank you Adelle
     
  15. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    DIY is the way to go.
    Learning and experiencing new things is what life is about.
    If you just want someone to tell you what to do then you don't really learn or feel anything, any they don't really care about you anyway..
     
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  16. Ben Kingsley

    Ben Kingsley Active Member

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    We'll keep sharing our knowledge and insights on the podcast. Feel 100% free to DIY, we seriously don't care. All the best
     
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  17. Ben Kingsley

    Ben Kingsley Active Member

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    Melbourne
    Christian the funds come from all income being generated from the household, inc wages,other investment income, rent, negative gearing etc, etc, less all household and investment costs. Calculated monthly over 40 years with all taxes and indexation applied. Sounds simple doesn't it, yet it's just not that easy to do when have multiple properties, multiple loan splits, and multiple offsets. But that's best practice so we don't cut corners or downplay how powerful knowing this cashflow story is for our clients.
     
  18. HR23

    HR23 Member

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    QLD
    How does 40 years lead to early retirement? Am I missing something?
     
  19. Al1979

    Al1979 Well-Known Member

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    Victoria
    It's a 40 year plan, you might retire 15 or 20 years in depending on your risk profile / income / age / growth rate etc.

    These guys give great knowledge through their podcast. I am looking forward to learning more in 2017!
     
  20. Linda888

    Linda888 New Member

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    Location:
    Sydney
    Hi @Ian87 , Did you end up going ahead with the property plan?
    I just started the process myself and am curious to see what your feedback is so far?