Wealth build

Discussion in 'Property Experts' started by tomlemke, 4th Apr, 2017.

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  1. tomlemke

    tomlemke Well-Known Member

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    Hey Property chatters,

    My mate invited me to a seminar last night in Newcastle held by a company called Wealth build.

    I enjoy going along to these free events because I usually pick up something useful and always make sure leave my wallet at home.

    It was all the general spuirker statements nothing I hadn't heard before, then right at the end they mentioned that their broker has access to a lender that has a product that allows you to purchase an i.p for an example $400k. You can then pause that mortgage and redirect your rent from your i.p to pay off your home loan quicker. This obviously had the room of 100 people all excited and had alarm bells ringing for me. Then the presentation was over and he told everyone that they would be able to book a private one on one sessions at your home to explain this more.

    Can any tell me if they have ever heard this before or how it could be possible?
     
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  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Yes - see the Hart's case in the High Court. Deductions of interest on interest were denied.
     
  3. tomlemke

    tomlemke Well-Known Member

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  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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  5. Biz

    Biz Well-Known Member

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    Let the scamming ******* come over your house for a one on one and show him that link.
     
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  6. tomlemke

    tomlemke Well-Known Member

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    Haha! I'm having the last laugh everyone who attend got a free android tablet.
     
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  7. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Wow, that must have cost them a bit.
     
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  8. tomlemke

    tomlemke Well-Known Member

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    $60 a pop 100 in the room, guess it's a small outlay for the potential business they will generate.
     
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  9. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Bingo.

    Someone's making a lot of money.....and someone's paying a lot.

    Cheers

    Jamie
     
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  10. Mac Fields

    Mac Fields Well-Known Member

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    Just make sure they didn't pre-populate it with a location device, otherwise you might get a surprise visitor at your door!
     
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  11. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    If they sell just one property, that's probably about 20% of the commission.
     
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  12. tomlemke

    tomlemke Well-Known Member

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    IMG_0649.JPG
    I actually thought this, I Did watch a lot of the Simpson as a kid.
     
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  13. drg86

    drg86 Well-Known Member

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    Hey Tom, we went to one of their presentations last year. Heard all the same stuff. Actually had a guy come to give us a free analysis session thing at home. Asked a few questions so he could write us up a plan... the look on his face after he wrote down the numbers on our 4th IP was hilarious, "how many more are there?" he asked. We were half his age and had more than double his portfolio and he was trying to advise us haha.

    Anyway scored the free tablet, good to use for holidays as not concerned about it being lost etc. Oh and the free dinner was ok.

    Went to a ParkTrent one too recently and scored a $100 bottle of Moet.

    Hit me up if you hear of another local one and we'll come along.
     
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  14. tomlemke

    tomlemke Well-Known Member

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    Free dinner! All they had was instant coffee they must of been earning more last year! Yeah will do I've been to some funny events in Newcastle, the best one was at Merewether golf club when I got escorted out for question the guy pushing options on commercial realestate in qld.
     
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  15. Savy mum

    Savy mum Well-Known Member

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    Hubby and myself went to the same one. I only went for a sticky beak as I'm still learning and I hoped I was going to come away with something I didn't already know. I couldn't get out of there fast enough.
    Did they come to your home for a one on one. I was just interested to hear what happens next. I wonder how many people actually make it all the way and sign up with them because as they say, this isn't something that will suits everyone. It was a no no for me lol
     
  16. Brian84

    Brian84 Well-Known Member

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    Myself and another forum member went to one last year and we got the free tablet and dinner and it was exactly what was explained earlier. I was curious to know how it worked but never went any further with it.
     
  17. tomlemke

    tomlemke Well-Known Member

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    My friend who I went with did the one on one, he loves getting multiple opinions on everything he does so he's happy to spend his time listening to them.
     
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  18. TonyG

    TonyG New Member

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    I had a look at this via an Instagram ad.

    A good CPA can advise you on this strategy. I am currently re financing two properties and going thru this very process.

    This company is all about selling investment properties at a premium and using the mortgage strategy as their primary sales pitch.
     
  19. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Or a tax lawyer.

    Get some advice on the anti-avoidance legislation.