Anyone heard of Lifecorp? Any comments.
They claim to be a property investors buying group.More like a property marketing group who earn bit fat commissions on what you buy.
Richard Taylor | Australia's leading private lender
Ha Ha Ha. You cynic you.
I wouldn't care, if I was buying better anyway.
Of course, my suspicions were aroused by this group of people who claim to want nothing more than to help me, for free.
Then, mortgage brokers make the same claim, and earn their $ the same way.
What matters is if, despite their own interests, I still get quality information and support, like I've no doubt you offer to your clients.
I'm with you SHales. I notice Richard went quiet after your observation.
I too have just started to look into Lifecorp and am naturally curious as well but if they deliver what they promise I don't care how much they make.
Richard (if you are reading this) on what basis did you form your opinion? Knowledge or suspicion? Please elaborate on your claim.
Well i must admit Phil Anderson did retire a year younger from property than me so i will give that to him.
And great first post volitans will you be contributing any more or are you the Lifecorp plant who wqas sent in to make your first post.
Thankfully you have no knowledge of me or my business or otherwise you wouldnt make such comments.
Richard Taylor | Australia's leading private lender
No Richard I am NOT a Lifecorp plant and you seem to reaffirm what was SHales was saying. You are a cynic.
I have nothing whatsoever to do with Lifecorp except that I too am investigating (due diligence) what they are about. I earn a living just buying,renovating then selling hence my interest in lifecorp.Again I issue my question to you – On what basis do you make your claim on "big fat commissions"? (and what's wrong with that? Isn't that how you earn?)
It's not only easy for people like you who are threatened by others to make claims but can you back up your statement? I believe all readers of this thread should discount your (or anyone's) claims if the claimant won't/can't back it up.
Here's your chance Richard.
GarryP.S. Just to be totally transparent – As part of my due diligence I am meeting with Phil Anderson next Wednesday. It will be my second meeting with him and so far he has satisfied my queries (more than you have so far Richard).
GGarry,
Sorry to sound Richards bell, but on this forum there have been a lot of first time posters with glowing reports on what this company is like or what this other company is marvellous. I can't speak for Richard on his understanding or knowledge of this company but i think he, along with many others including myself dont approve of these timewasters posts here.
have a look at https://www.propertyinvesting.com/forums/community/opinionated/4324800 and understand why Richard bites at all first timers and look at all posts with regards to an organisation and gauranteed there is always a first time poster with a glowing report in the first 4-5 posts. i recall one where the first timer posted within 45 seconds to the question. Sounds a little bit biased.Cheers
AirstrikeCalm down Garry. We see plenty of glowing first posts here so it's no wonder we get a bit bored and see through these type of posts.
Pardon my cynicism Gaz, but you have provided a spirited defence of Lifecorp for someone who is not a plant.
Hello SHales … I just got back from a holiday in NZ on the top of the south island … OMG just beautiful …
You can always tell a company from their web site as it's their shop front of their business … first impressions are they need a good web designer and a better script writer … this type of business is getting sooo old now and with the forecast of property investing over the next 3 years these companies will not and cannot survive.
Minter Ellison just put off 35 staff including 5 senior lawyers … all these were from the property and finance division … hello out there are you listening or reading what is going on??? also listen to Steves new video he is saying SELL …
Lifecorp have NO licienses on their web site and any peopson working for LIFECORP selling or advising people on investing in real estate are BREAKING THE LAW even the stay at home mum … just call the department of fair trading in Queensland and give the names of the people selling real estate from this company and TDFT will check out their licenses.
WARNING : TDFT in all states of Austrailia are after these types of businesses … and the ownes are PERSONALLY financial liable for any loss or non desclosure of commissions which vary between 25 – 50,000.00
Do your home work and check each person very carefully … good luck and listten to steves video.
D
Thanks D,
I shall have to look at that video. I've forgotten about Lifecorp really, mainly because i put the idea of buying in the next 12 months out of my head. I have something to sell, but it is under a new 12 month lease, which might make it hard to sell (it is real FHOG sort of stuff. Thing is, though, if I sell, what else to put the money into? We have alot of equity so we are not going to end up in a situation where we owe more than we own (unless the re market fell by more than 75%). Frustrating times, we are tired of where we are and ready to make the move into a new business interest and a new area, but I don't think we're going to have a climate suitable for learning a new business for quite some time. We'll just have to stay here where we are making money.
cheers
SaraOK Guys,
Sorry to take so long to reply but I musn't have my prefs set right as I didn't get notification of any further additions to the thread so I hadn't checked it. I apologise for the length of this post too but with an open mind you'll read why it's so long.Also I'll add that the major flaw in e-discussions is that voice tonation is not available so often emotion is quite often misread (or read where there is none). Having said that I'll try to explain my position and hopefully we'll all learn something about comprehension, jumping to conclusions and using the head not the heart.
Firstly. Dan 42 – I have no need to calm down as I'm not excited (or angered, frustrated etc). This is a perfect example of my 2nd line in this comment. And your cynicism does show here as well (comment not an attack). Why is it that Aussies are not only quick to chop down the tall poppies but prepared to accuse someone of being guilty without the facts.
Second – Airstrike 2001 – I understand why you, Richard and yes, even I hate timewasters. I had a read of the thread you recommended and see the same pattern as I saw here. People are so negative, attacking and aggressive right from the start on suspicion only (yes in the end it might be justified but accusations are libel until proven). Just because I stated that I was investigating Lifecorp and because I wasn't negative about it (I have not yet got a reason to be but will scream if I feel I've been conned) it is immediately assumed that I am guilty (a plant) and I have to defend MY honesty. If you re-read my initial comments (and comprehend it) I was neither positive or negative towards Lifecorp. I simply said "what's wrong with maiking big fat commissions" and noted that this is how Richard (hypocritically) makes his earnings. I also asked how he made these conclusions – a challenge he hasn't yet answered. (ie guilty by suspicion or is it jealousy?)
Third – Wealth4life.com – I think I understood your 'contribution' . While I agree a professional organisation should have a professional website do you really open & close your investigations made on a website alone? Many good businesses have poor websites and more importantly many shonky dealers have very slick presentations. I find your statement astounding but not surprising as you obviously don't grasp what they are trying to do – ie basically a buyers co-op.
Now following that last sentence I'll no doubt be accused AGAIN of being a plant. Well I'm not. I have now attended the Lifecorp seminar twice and had 2 meetings with Phil Anderson who is leading the group. He seems a nice guy but I am still doing my due diligence.
Now try to keep up here. Nothing in these statements is supportive or destructive of Lifecorp and as I am still investigating I have NOT drawn any conclusions to base an opinion on so nothing I say from here will be either way. This is called evaluating evidence without emotion. As a trained scientist I am familiar with the pitfalls of assuming POV's without the facts.
The facts AS I KNOW THEM are;
About me ; I am a 55 yo ex-vet on a disability pension. I have no ties to Lifecorp except my actions as explained below.
I did a university degree 10 years ago to beat the boredom of being a pensioner and this lead me to a job I really didn't want that gave me a severe nervous breakdown trying to do community work for the disadvantaged. I have a street named after me for my community work. To supplement my miserable gov't pension I invest in real estate. As the administrator and secretary to my military recruits intake I am a community minded person with plenty of (other) forum experience. I tell you this to hopefully explain who I am.
About my experience with Lifecorp;
Lifecorp claims to be a buyers group using the leverage of numbers to obtain beneficial deals. – I have not seen evidence to refute this.
Lifecorp is NOT advising people to buy or sell property they (Phil) has stated a case that is available in any public forum espousing the value of investment.
Lifecorp sent me to a 'broker' (like Richard) to assist planning by establishing what finance is available to me. I probably won't use their broker as I have a great relationship with my current bank manager and wouldn't swap him for quids.
Lifecorp know this and agreed with my decision without any hesitation.
Now the broker (or Lifecorp?) has prepared an '8 page plan' for me (to say yes or no to – no commitment) that entails a positive cashflow investment property, projections, funding time lines etc.
While the plans were good I needed a few tweaks to it. This is being done as I type and will be ready in a couple of weeks.
NOTHING that has happened so far has been untoward, illegal or suspicious. So far Lifecorp has honoured it's word. Yes, I have a natural suspicion and am being cautious (Note I'm not making accusations here but it is always smart to check every step – it's called due diligence)
This is as far as I'm up to. It has cost me an initial few hundred bucks. There has been no surprises yet. Presumably the next step will be if the proposed plan is satisfactory (after I do more checking or 'due diligence') I will travel to see the real estate, check the figures and say 'yes' or 'no'.
All up as I see it Lifecorp has done all the work for me and I just need to satisfy myself that I am happy with the case they put forward.
Now back to my original defensive claim – I am NOT a plant. If any reader of this has half a brain you'll read it, assess it and decide if you want to try it. Frankly I DON"T CARE. This is an honest report of what has happened to me so far. I'm so sorry to the knockers that I can't provide any negatives yet (hence they make it up and attack anyway) but I have not found anything wrong with Lifecorp. Not everything in this world is as defective as peoples seedy little brains would like to believe is the norm.
If you go in looking for negatives I'm sure you'll find them (again like Richard's unsupported hypocritical claims) but if you don't have BOTH eyes open to see the good and the bad you'll miss a lot and have a sad life being suspicious of everyone and everything. Use your head and evaluate things not your (black in many cases) heart and attack.
Believe me if I get crapped on (by anyone – Lifecorp included) you'll hear!
Garry
Wow Garry really have got you fired up.
I guess when you have been on the forum as long as i have you get slightly suspicious as Dan has commented of maiden posters telling the world about how good another company is.
With regards to your claim about commission (sorry FAT commissions) Mortgage Brokers and Licensed Financial Planners such as myself receive a standard commission which we declare and is outlined in the lenders Letter of Offer unlike your Bank Manager who doesnt have to declare the bonues he receives from writing your business. Whilst i am sure he is a little wonder i assume he suggest you cross collateralise these loans and i bet he doesnt do it for your benefit.
Take my word for it your Bank will fund you for as long as they want and then pull the rug from under you before you now.
Again if you had read any of my 5000+ posts you will see that i retired some years ago from property and only through request from clients started up my boutique brokerage / financial planning house for selected investors.
I have no need to work but enjoy helping people and seeing them build their investment portfolios. Probably similar to your Bank Manager !!!!!
Richard Taylor | Australia's leading private lender
See Richard again you miss the point!
How about I call you a fake (because I can), fail to substantiate my claim, then twist your statements to suit my ego?
Do you always throw accusations at people you are "slightly suspicious" of first time they contribute? Good way to make newcomers feel welcome to keep coming back!
Do you always criticise other peoples efforts without knowledge of what they do? Just what research have you done on Lifecorp? You still haven't substantiated your claims against them!
I now notice you avoid that proof by changing from the original topic to attacking my bank manager when the only mention I made of him was that he has been wonderful for/to me. (Another fact.)
As for supporting Lifecorp though you neatly avoided having to justify yourself. If you read MY posts please tell me where I recommend or push Lifecorp.What I have done my friend is recount all that has happened to me in my dealings with Lifecorp. Again I'll apologise if I disappoint you by not having anything negative to say but that's how it's turned out so far. Actually to satisfy your perverse need to find a negative the one problem I found was the venue for the meetings was a bit small and the seats too hard. How's that? Something to whinge about.
I appreciate you have a 'boutique business' to protect and apparently you feel threatened by Lifecorp but why can't you either prove your point (that they get 'FAT commissions' – your words remember) or admit that you haven't done any research on them and you don't know either way if they may or may not have a useful plan? I care less about what you think than I do about giving other readers unbiased comment to truely help them decide for themselves whether an organisation is for them or not. This is the true meaning of forums (and I am an administrator of just such a private forum). That is to exchange experiences and KNOWLEDGE as was requested by the original poster of this thread not to spread rumour and unsubstantiated claims.
As an outstanding contributor to this forum (as you no doubt are) you do yourself no favours by attacking others without grounds.
Less educated readers would count on your experience and knowledge for accurate honest advice not rumour and fearmongering against your competition. Not that I can see in anyway how Lifecorp should be seen as competition for you if they are bringing buyers into the market that need financing.Hello Garry,
There are some very passionate replys here and may I assist with just a few comments.
Getting advise; In wealth creation (property investing) and financial planning it is important to get advise from a licensed person. To protect yourself you can call the department of fair trading in your state and give the name of the company and the people from whom you have been receiving advise and TDFT will tell you if they are licensed to do so.
Buyers agents and buyers groups; Must be licensed especially if they are selling to investors … any person selling real estate must be licensed.
Any person selling investment properties must have an IPA cert. or a dip. in financial planning … this law from TDFT will be enforced very shortly to protect unsophisticated investors.
PAMD 27c is a commission disclosure fixed to the contract … ask who the lic. agent is and who is receiving the marketing fees that must be attached to this form.
Because of your occupation you are classified as a sophisticated investor there for the law will view your purchasing decisions differently.
“getting advise” “giving advise” “posing” “buyers agents” “buyers groups” “unsophisticated investor” “proper authority” “leading the client” “misleading and deceptive” “experience” are just some of the terms used in a court of law.
We are dealing with peoples savings so when getting advise it is important to ask for a suitable copy of the persons license the same way you ask for your electricians license so you or your family won’t get electrocuted.
Good luck in your research you are on track … I hope this has helped in some way.
Philip Sigglekow
LREA Qld NSW Vic cert Iv property dip finance and dip. mortgage lending trainer.
IPA and licensed buyers agent. Corporation lic. resiwealth.com.auThank you Philip for some good advice (or is that 'advise' – lol). This is the sort of thing I expect from a forum.
All night I have been wrestling with my own replies to this thread and I retract none of what I have said but sincerely hope that in the drawn out response that my true message wasn't lost.
My message is that a first time enquirer (or any contributor) shouldn't be attacked/accused on suspicion only due to previous (proven or unproven) interlopers.
Also and probably more importantly people (and yes in this instance I am targetting Richard not on personal grounds but because he is the guilty person here) who make claims should be made to back their claims or clearly identify that this is their opinion only and not necessarily fact.To go back to the original reason/topic of this thread a person (SHales) asked for info on a group (Lifecorp). Another made claims (hypocritical claims at that) about commissions BUT FAILED TO PROVE/EXPLAIN OR BACK THAT CLAIM. A 3rd person (myself) who also wanted to check the bona fides of this group asked for evidence of the previous claims and instead was groundlessly accused of being a plant.
On the other hand your contribution attacked no-one but gave me some valuable information. Personally I am not sure FROM MY DEALINGS WITH LIFECORP that all of your contribution is relevant to them but your 2nd point (re; buyers agents/groups) certainly does. I will raise this point with Phil Anderson when I meet with him again in a few weeks time. I intend to report on this meeting (as I reported in earlier posts) fairly, honestly and unbiasedly so that others may judge without predjudice.
I repeat my earlier claim that so far IN MY DEALINGS WITH LIFECORP I have no grounds for negative comment. That is neither support for or criticism against Lifecorp. People still need to do their own due diligence.
Thank you for your input. I hope others got the same value from your post as I did. I also hope this is the end of this matter except that others may contirbute verifiable fact to assist investors.
Kind regards
GarryGarry, you sound like a smart bloke, but you seem to be putting an awful lot of energy into defending some marketing company. no doubt aimed at wood ducks. Direct that energy into your own property research/affairs and you will do well.
I feel like I have to defend Volitans here.
Qlds007 wrote:More like a property marketing group who earn bit fat commissions on what you buy.Richard made a sweeping statement damning the group. I think it was entirely appropriate for Volitans to question the basis for that claim. Is it based on hard evidence or is it just Richard's opinion on all property marketing groups? I thought the same thing when I read the comment. Suddenly Volitans was just dismissed as being a Lifecorp plant without him having made any favourable comments about the company and he has been attacked ever since.
Those of you who read the forums regularly will know that I am more than happy to attack claims of first time posters who sing the praises of companies and are obviously company plants. But I don't think that is the case here. I think that Volitans' "mistake" was to question the basis for Richard's claims. That's all.
If you read his posts he is more about defending his original posts than promoting Lifecorp. That doesn't sound like a company plant to me.
I think you should give him all a break and treat him innocent until proven guilty. If in a couple of weeks he starts promoting Lifecorp then he deserves what is currently being dished out to him. But at the moment he strikes me as someone who is prepared to question comments of forumites and make a reasonably intellectual argument.
Give the guy or girl a break.
K
Hi Linar,
I agree and think we here should not be in a boxing fight as there are other issues.
I don't care what the name of the company is and what they are doing … I care that ordinary people are getting the correct and "legal" advise … as stated above any person giving advise on real estate investing "should" be licensed as an agent or planner.
Why don't we set up a watch dog here to help people on this site get advise from the right people, not saying that the current names are not nice people, just wondering why people who derive an income from a business in property don't want to get qualified to do so.
D
I just remembered something else that Phil Anderson of Lifecorp spoke of in his public meeting last week. If I had mentioned this a few days back when I found out it might have saved some debating.
I should have remembered this earlier but in his new presentation Phil has accepted that most people are sceptics who will ask "what's in it for him (ie Phil)". In this presentation Phil admits he gets his cut (besides the bonus of bulk purchase discount) direct from the developer himself for bringing a large number of buyers to the table.
The question is as long as buyers get a good deal does it matter if Phil gets a cut? If he's travelling over Oz gathering likeminded buyers shouldn't he get something for his efforts? Does this denegrate the deal and make it a con?
Oh yeah, if you are wondering just how 'pally' I am with this guy because of my habit of addressing him as Phil It's just that if you met him you'd realise that he prefers to be addressed that way (Don't most people who want your business ask you to be informal) and besides he is that easy going.
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