a better choice / abc financial group pty ltd

I received a telemarketing call for a company called a better choice and this one has changed our lives.
A person came out and spoke to my husband and I about investing in property which we had both been thinking of for a few months.
We then booked a visit into there office and went in there last week 7/8/2008 and they took us through their presentation and discussed with us about commercial property as well as residential property.
The person who showed us through our options was a guy called Campbell and we have spoken to him a number of times since then.
We decided on the day which was a little scary to buy a hotel suit in collins street, we both think this is the best decision of our lives.
We have told all our family and friends that we think if you are going to invest or get help to invest then we think that a better choice is a good place to start.
We would recommend them to anyone that is looking to invest in commercial or residential property.

Joanne76

what a glowing endoresment from a first time poster.  maybe i should be spending more time talking with telemarketers

Hello Joanne76

Wow you sound really impressed.
I have some concerns about this investment choice so can I ask whether this property is positive cash flow or negatively geared, how old is it?  what sort of rental returns you are getting and how long you plan on holding it for? I'm am assuming you were looking for a more passive as opposed to active investment?
Regards
S

I don't mind talking to telemarketer if they are paying me $$$ from talking to them.
Otherwise... just waste my stupid time.

Investing in hotel room... hmm.... sounds interesting!!!

Hi S
The property is  negatively geared and is only 4 years old.
It's only costing us $130 a week with a 7% return.
We are planing on holding on to is for 10 years, using it as a tool to pay off our mortgage.
It has a 5x 5x 5x 5years lease
It shows that some times it pays to talk to telemarketers because you never know when that phone call called help you become a property investor!
Regards
Joanne

Hi Joanne

Sorry can you tell me how when the property is costing you a $130  / week you are intending to use it as a tool to pay off your mortgage.

Call me slightly suspicious but are we getting an steady increase of these types of posts.

Perhaps the high pressure property investment sales to unsuspecting buyers is a drying up market...... one can only hope so.

Cheers

Yours in Finance
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
www.tayloredfinancialsolutions.com.au
richard@tayloredfinancialsolutions.com.au.
Lodoc loans from 7.14%

Hi Joanne76

I was just wondering how all of these "promotional emails" contains the same grammatical errors and spelling mistakes. Do you guys work from a template?

It is also interesting to see the post replies "dry up" when the questions get difficult.

Hope it works out for you.

Anne

sorry Anne,
I have no idea what you mean, I'm just someone that wanted to share the story I have with others.
Sorry if i have offended  you with my grammatical errors, I sometimes get a little carried away and don't reread what I'm about to post.
If you have any questions about my post I hope I can tell you from what I know, which is limited as my husband and I are just learning and go through this process for the first time. But I'm sure we can ask our consultant from a Better Choice as he seems to be happy answering any questions we have had thus far.
Regards
Joanne

Joanne

Wondered if Better Choice are related in anyway to Premier Finance ?

Cheers

Yours in Finance
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
www.tayloredfinancialsolutions.com.au
richard@tayloredfinancialsolutions.com.au.
Lodoc loans from 7.14%

Richard
With $430 a week rent plus tax benefits we can reduce the interest paid through our line of credit and this will help us reduce our debt faster than we can by our selves.
Regard
Joanne

We know they are related to The Asian Pacific property group but i don't know about Premier Finance.
Regards
Joanne

Hi Joanne,

Did you get an external valuation of 'the property'?
And how much is the management fee?
Did you go through the contract with independant solicitor?

Just for my curiosity....

Cheers

Hi Joanne
You have not offended me in any way. I just think there is a general scepticism regarding post that promote a certain company in such a positive light from forum members that are clearly new and have made only one post - the promotional type. You have misspelled the same word as another first time member in a similar post? Maybe just coincidence or not ...

I don't have any questions regarding you posts - I observed though that you have not answered the questions from other forum members?

The only advice that I would like to offer is that if this is your first property transaction you really need to do your homework and not take the word of just anyone that would like you to part with $500k?

Anne

Yes, but you've said it's COSTING you $130.00 per week. How are you paying down your debt when something is COSTING you $130.00 per week?

Do you know how negative gearing works? It COSTS you money just to pay the interest on the loan you take out, before the pricipal is even touched... Not the best way of paying down debt I've ever heard of...

Imulgi

Precisely the reason why i asked the question.

Seems to me like the office plants dont really understand how - gearing works.

Cheers

Yours in Finance
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
www.tayloredfinancialsolutions.com.au
richard@tayloredfinancialsolutions.com.au.
Lodoc loans from 7.14%

Hi Richard

Didn't you know that..."Property value will double every 7 years" :) LOL (sarcasm)

I m sure this is the selling point to unsuspecting buyers. Plus the depreciation cost etc...

Course GOM silly me.

Cheers

Yours in Finance
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
www.tayloredfinancialsolutions.com.au
richard@tayloredfinancialsolutions.com.au.
Lodoc loans from 7.14%

Some 22 year old fresh out of uni with a degree they'll never get a job for, no doubt... :-)

Hi Joanne,

Just another insight on investing in hotel room. Q/A with Noel Whittaker

http://www.domain.com.au/Public/Article.aspx?id=1216492338730&index=QA

For your own reference in the future

Cheers

Hi guys, It's Chris here Jo's husband and I just want to put in my 5 cents worth. Basically the way it will pay off the line of credit is by putting rent and tax benefits (via tax variation) into the mortgage along with both our wages reducing the interest  paid on the principle amount. (interest being calculated daily and charged monthly although I shouldn't have to remind a MORTGAGE BROKER of this!?!?). The cost of $130 per week is the "shortfall" difference between the holding costs (OUTGOINGS) including repayments, management   etc... on the property and the amount of return (INCOMING CASHFLOW) including the rent and the tax benefits via, as mentioned earlier income tax variation form section 15/15 see ato website for details.  Before we attended the session with ABC Jo was looking for some POSITIVE feedback about any companies that could help us step into investing because as you can all see just about EVERYONE is talking negative and we have seen a lot of tall poppy syndrome around and people making every excuse under the sun NOT to invest. We do not need to put up with that from friends or family OR any  "open forum" it seems not much gets questioned except for positive feedback?!?  I believe a certain amount of scepticism is required in life but at some point you also need to take a plunge. Worst case scenario we can always sell it and if we need to cop a loss I will put it down to life experience. To anyone that has bothered to read this far I would happily reccomend ABC, it's early days yet, but so far we are very pleased with the service and professionalism they have shown. I would like to wish everyone happy investing in the future. Chris.

Good for your guys, for taking the plunge and investing.

I think what some of the forum people are alluding to with their comments are that one should focus more on the underlying asset, the quality of that asset and how it will likely perform in the future.

Often some investment groups highlight the tax benefits and 'home gearing & debt reduction strategies' as a means to sell their stock.

Always look at who is paying these people - is it the developer of the product or you? (i.e. are they really sales agents and representing the vendor of the property).

Tax benefits are a bonus - the performance of the property will make you the most money over time.

Well done and good luck.

Chris White
Prosper Group

T 1300 664 373 | F 02 9966 5608 |
E chrisw@prospergroup.com.au | W www.prospergroup.com.au

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