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  • Profile photo of patriciavpatriciav
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    @patriciav
    Join Date: 2004
    Post Count: 8
    November 5, 2006 - 3:20 am

    Hi,

    I would suggest walking away from this right now. If they quoted you the same figure as me, that’s $3000 for them to basically look at balance sheets for you once a month and do some analysis on your spending. They’re not really offering you anything special, its just a line of credit disguised as some special service that only they provide. I had the same experience with the person I spoke to. They were evasive when asked direct questions and basically tried to push us to sign papers on the same night. We walked away then and there.

    In my opinion, if you are having any doubts at all about something as big as refinancing your loans/mortgage, and they are not being addressed/resolved by the Sample and Partners broker/advisor, I would cut them off straight away and find someone who can. There are a lot of good mortgage brokers out there which can organise a line of credit for you without the fee (try Mortgage Choice – we have used them and they were fantastic).

    Hope this helps.

    Trish

    Profile photo of patriciavpatriciav
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    @patriciav
    Join Date: 2004
    Post Count: 8
    July 5, 2006 - 1:45 am

    Just realised I didnt mention that the consultant told me they dont have an AFS license because they dont need one. Is this true?

    Thanks,
    Trish

    Profile photo of patriciavpatriciav
    Member
    @patriciav
    Join Date: 2004
    Post Count: 8
    July 5, 2006 - 1:41 am

    My partner and I were contacted by Sample and Partners and we met with one of their consultants. From what I could see they were suggesting setting up a line of credit to reduce debt, although they were hesitant to call it that (why?). They did mention they charge a $3000 fee for their services which is a lifetime one off fee that will guarantee their advice and monitoring of your expenses.

    My question is shouldnt any finance brokerage firm that is offering financial advice have an AFS license? It certainly states that on the ASIC website?

    Thanks,
    Trish

    Profile photo of patriciavpatriciav
    Member
    @patriciav
    Join Date: 2004
    Post Count: 8
    November 5, 2004 - 9:16 am

    Just providing another view on this…i think it’s interesting how a lot of people post on this forum that they are not after money, and that money doesnt provide happiness. Its interesting because, for one reason or another we are all here because property = wealth, meaning some can have their goal of quitting their jobs, living a glamorous lifestyle, or quitting their current jobs to find their true, but poorly paying calling. Without wealth, in most cases, you cant do these things. So really, when most people say ‘money isnt everything’, i respond with ‘no, but it is something….’. Just an observation i wanted to share….. :)

    Profile photo of patriciavpatriciav
    Member
    @patriciav
    Join Date: 2004
    Post Count: 8
    October 28, 2004 - 6:17 am

    Hi,
    I would sell up if I was you and use the profit from capital gains as a deposit for 2 investment properties. Multiplication by division!

    Regards,
    Trish

    Profile photo of patriciavpatriciav
    Member
    @patriciav
    Join Date: 2004
    Post Count: 8
    October 27, 2004 - 2:53 am

    Hi Chris,
    I found myself in a similar predicament at the start of this year. I am 21 and have only been working full-time for 7 months. At the time that I started looking to purchase property i had only been working for 2 months full time and had only recently graduated uni. It was a fairly daunting step, but as far as finance goes i recommend you speak to someone like Mortgage Choice. They can provide fantastic advice on these matters. They work for free, will come to you, and since they get their commission from the banks (only once your loan is approved), their best interests lie in securing a loan for you (make sure you do your own research though). I now own my own home (which im renovating) and am looking to purchase more property. I didnt have a deposit and was able to get around that with some good advice, smart thinking and help from the fams :)

    If you want more information email me [email protected]

    Regards,
    Trish

    Profile photo of patriciavpatriciav
    Member
    @patriciav
    Join Date: 2004
    Post Count: 8
    October 15, 2004 - 5:08 am

    Depends what you’re after. In my opinion, a house is better. Structures depreciate in value, whereas land appreciates in value.

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