Hi Ben Kingsley - Property Investment Adviser of the Year

Will it be 3 months before he returns again lol

 

Welcome back @Ben Kingsley
Any new movies you have upcoming?

 

Yes. He is playing something he is not - > AN Ordinary Man

 

plot summary: a war criminal fooling around with the maid...haha
I gotta see this movie.

 

Ben is the chairman of PIPA. I like what they stand for - better quality and regulation of property advice.

I enjoy his podcast. He was actually giving credit to Jan Somers in the latest podcast..,

Jokes aside, he is one of the "good" ones and i think members should welcome him.

 

Agreed @Greyghost he is in much the same vein as Margaret Lomas with his views on property education and more regulation of the industry which should be applauded IMO

 

I agree.
Not that I am a user of such services, but he was saying a property plan to do correctly with his team takes approx 20 hours, 6-7 of which is client facing.
He said there is cash flow forecasting software for business, not nothing powerful enough for property investors so he has developed in house software (looking to even put to market within 24 months).

IMO as far as advisors go, I think he is one at the forefront of the industry..

Anyway I'm pumping his tyres up here (lol I only have listened to 4 or 5 podcasts haha)..

Forgetting Ben for a second, if an investor is going to seek out advice rather than education, 8-10 times IMO it is fraught with danger and hidden agendas/motives of the advisors..
Given the size of the transactions taking place ($450k plus) it is amazing there is not more regulation on advisors and people flogging otp property at seminars..

 

Welcome back Ben. Don't you ever leave us hanging like that again!

Ps Your podcasts are great!

 

I have used his service and I also think he is one of the good ones. I think people didn't like his introduction, fair enough, but to trash someone of whom most of the posters have never deal with and have no knowledge of their service is to me plainly rude.

 

I don't think anybody is trashing him, just some light hearted banter.

 

I bought my first property at the age of 23, over 20 years ago now. Like others I have made some mistakes, I bought it within the suburb I grew up in, not really knowing what I was doing. These days my wife and I have properties in Vic, NSW & Qld, with a goal of further purchases in other states as we role out our plan to be retired by 50.

My best tip is research, research, research or get professional advice if you don't have the many, many hours you need to build your knowledge to the required level to be a great DIY investor.

 

Hi @Ben Kingsley

Hope you've been well. Was going through this thread you started and saw you've labelled yourself as:

*Property Investment Adviser of the Year
*Founder and CEO of Empower Wealth
*Passionate about educating property investors

On your LinkedIn profile you are: 'Professional Advisor for clients to improve their money management, property investment, finance and overall wealth outcomes.'

May I kindly refer to your previous 'Your Investment Property Mag Article' here from 2012. I wanted to get your feedback on how your $1MIL property portfolio is progressing?

I believe you stated that the first purchase to creating this would be - "A married couple starting with a 3-bedroom house with an upgraded kitchen and bathroom in Dysart, Qld." You stated "Dysart is one of several mining driven housing markets within central Qld. It is known for having a spectacular rental market, with the average rental yield close to 14%, according to RP Data figures. There is also a strikingly low rental vacancy rate of 0.2%. What’s more, mining projects are expected to continue in the area for at least the next 20 years."

Considering the average house price in Dysart has fallen from high $500's to around $90k - how is this going for you? Second purchase was buying in "Rockhampton or Kalgoorlie" then for the third purchase my personal favourite:

"The third property will see us spreading the couple’s risk and diversifying their portfolio somewhat. I’d like to see them picking up a house in a WA mining town. Kalgoorlie would be a good option."

I'm just going to stop right there. "Property Investment Advisor of The Year" I hope your clients "overall wealth outcomes" are not a by-product from your advice.

Kind Regards,
RD

 

He also had:

A couple of these YIP awardees around now:
YIP investor of the year - Steven Ryan

 

@Ryan Donnelly wouldn't hold my breath for a reply. This guy's extremely busy!

I think it's safe to say his portfolio has taken a hit. It justifies my reason not to invest in mining towns. Far too risky.

 

Hi Ben
Welcome to the forum

 

Welcome. Loved you in Sexy Beast. Looking forward to the release of Jungle Book.

 

Wasn't too bad in Ghandi as well.

 

Haha well played @Ryan Donnelly !
I too am surprised how one can recommend investing in mining towns, it has always been known as a very risky proposition and in recent years we certainly have seen this risk materialise.

 

Hi Ryan,

Thanks for your critique.

For the record I nor any of my team have never bought a property for a client nor ourselves in any of these locations. The article in question was, as I noted in my piece - a highly aggressive and high risk strategy and something that I nor anyone of our team wouldn't recommend to our clients.

If you want to learn more about my approach, check out the property couch podcast, our book or the countless videos, articles I have produced.

Would I ever invest in a mining town or area - never have, but I'm a realist and if my research gives me buying signals then never say never, but it would have to pass my lifestyle test first.

All the best for your own investing.
Cheers,
Ben

 

Where is it noted in the article that the strategy isn't something that yourself or your team would recommend to clients? You mention adopting an aggressive strategy but the phrase "high risk" doesn't appear anywhere in the YIP article.

Aggressive or otherwise you were called on to provide "professional advice" and now you are saying that it isn't even something that you would recommend for your clients? What about the hundreds, if not thousands of people that paid for their copy or subscription of YIP, are they not entitled to the same advice you would reserve for your clients?

If the achievable goal was to send a young, low income couple bankrupt then it would have been a roaring success.