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Hi Nicole,

There is one very simple rule to follow on this question: Is the investment advice coming from a property marketing company? If yes, be very careful what you get involved with. They don't work for you, they work for the seller and you are the solution to the seller's problem.

Hi Nicole

I can't speak for this company as I don't know who they are or what they offer. However, there's a number of companies out there spruiking off the plan properties to "astute investors" – they're essentially glorified real estate agents making massive commissions on over-priced, sub standard properties.

If it sounds too good to be true than it usually is.

Cheers

Jamie

Following Mark Coburn's advice nobody would ever buy a house because the real estate agents work for the seller.  Yes it is true that something could go wrong with such a transaction but it's not common.  After all everyone who drives a car risks accident, everyone who has a job risks losing it,  everyone who exercises risks injury.   Nicole if you look at  Mark Coburn and Jamie Moore's posts you will see that they too have a commercial barrow to push.   They are simply throwing mud at a competitor.    Whoever you choose to use for your financial advice ( and all these companies use licenced advisors as is required by law)  the worst mistake you could make is to do nothing.  The most common mistake in real estate is to pay too much but fortunately that is self correcting over time as values rise.    You may be interested to know that the USA Fortune 500 people have 70% on that list make their money in teal estate.  Take the hint.

Peter from Brisbane happens to be where the meeting is located and he signed up today…Suspicious   

I just happened across the site which seems excellent, and saw comments that needed further comment.  I note that whilst others seek to denigrate me, they have not been able to refute my comments – suspicious?   I've been in business for nearly 40 years and have learned that if you decline an opportunity because the other side makes a profit you won't make much money yourself.  Cheers  

Guys simply ask them in what areas they buy in Brisbane.

Until last month when I sold my block of 18 units I had 40 of my properties in Brissie so I know the area well.
Let us know and we can comment although of course I have a feeling where they will tell you.

Also ask them do they show you 2nd hand properties. Thru our Brisbane Buyers Agents service we only buy used property for clients and I can figure a guess that non of them will be in the areas these mobs buy in.

Cheers

Yours in Finance

My parents recently went to a meeting at PPW’s offices in Brisbane after receiving a cold call and ended up signing the contract on a development town house for 419k in albany creek. They also said they were offered a development home in Harvey Bay as well.
I would really like peoples opinion on this premium private wealth mob as I’m worried for my parents as they are now confident after their meeting with them that they are making the right decision.
They said that they are taking the loan out with another bank so that our house loan is not in jeopardy if everything went to crap and also made the contract conditional on finance and they will also have the bank value the property as well.
I think my parents are relying on obtaining stable tenants to help them make some positive cash flow and that is the whole idea but yeah, just wanting to get peoples opinions as I’m feeling fairly shifty about this whole thing and I don’t want them to get screwed. If anyone can give advice/personal opinions/experiences then I would greatly appreciate it.

Hi there, my husband and I are going to Brisbane this weekend, to office for “appointment “.
Do you have any further info from your parents experience please?

Stephanie wrote:

Hi there, my husband and I are going to Brisbane this weekend, to office for “appointment “.
Do you have any further info from your parents experience please?

My parents terminated the contract during the cooling off period. This was based on a few things. My mother after leaving the office and realising she had just signed a contract for allot of money without really independently thinking things through decided to do some research based on what she had been told at their “appointment”.

After doing some reading on online forums about PPW I discovered that they had undergone a change in business name recently in the last few years. Also I read a few posts about how they used to door knock using backpackers or other cheap labour to try and organise these “appointments” to sell their properties. One of the commenter’s used to actually work for them whilst they were backpacking in Australia and said that they were given scripted lines on how to draw their targets in. Ontop of this they are currently cold calling/targeting “empty nesters” who they know are looking for a fast tracked retirement and they know these people have more free capital to do so and are trying to cash in on them.

This was all very fishy to me so my mother an I started doing some research. We discovered the tax breaks described on the property offered to my parents were exactly the same as the tax benefits the government provides for owners of housing commission units.
I then had a drive past the units and sure enough they looked like most other housing commission units, all the same design and had a housing managers unit.
So then we did some more research and discovered that there were housing commission units planed for the area in which my parents had just bought.
My mother was now a little nervous about what she and dad had just done so the next morning she called PPW. She confronted them and asked them if the unit was indeed part of the housing commission and got put on hold and when the girl came back after some time and denied that they were. My mother told them what we had discovered about the tax benefits and the council plans and asked for a statement in writing to say the unit they had agreed to purchase was not apart of any housing commission or government housing scheme. They Denied to provide this. After more question by my mother, some things the lady on the phone said started to contradict what was verbally told to them at their “appointment”.
By this stage both my parents were now feeling a little uneasy and decided to make use of their cooling off period and end the contract. During the call to PPW to inform them of their decision to terminate the lady on the phone asked: “what is so bad about buying housing commission units anyway?”.

From what I have experienced through my parents dealing with PPW I would advise to not talk to them/attend one of their appointments. They are very convincing and good with their words and will put lots of time and effort in to try and make you feel safe so you sign the contract on the day E.g. they bought my parents lunch and then drove them back to their house in their private car.
Too me it just doesn’t add up; door-knocking, recent change of business name, cold calling/targeting with phone lists, providing a complete review of personal financials and all the other goodies like lunch and free taxi (and in the case of some people free flights!). Then at the end of the day putting a contract under the persons nose so they somewhat feel obliged to sign but also safe/confident enough at the time to do so.

They call themselves independent financial advisors who specialise in “wealth creation” but their tactics aren’t so. They are more salesman than anything else specialising in hocking off new developments to targeted demographics such as my parents for their wealthy developer mates.

Unfortunately there are too many “Wealth creation” companies out there who disguise themselves as traditional ‘financial planners’. Truthfully they are just straight property spruiking.

Unfortunately property investment in Australia is not regulated as a ‘financial product’ under ASIC.
If they are just selling property, thats fine they are real estate agents, but if they are claiming ‘wealth creation’ then I would be skeptical because you need an Australian Financial Services License (AFSL) regulated under ASIC to provide ‘financial/wealth advice’.

If there is one small thing misleading, then usually the whole thing is misleading.

best of luck!