I am looking into a Company called Centennial Financial Services (CFS). If anyone has had any dealings with them, whether they be positive or negative, I would be very interested to hear your opinions.
For a little background…..
my wife saw the TV advertisement for property investing from CFS, and called them. We had a consultant come out to meet us. He explained the benefits of property investing using rough figures, and forecasts for our retirement. The consultant clearly had a good understanding of property investment. He then invited us in for an appointment (in 2 weeks time) after we submit a whole heap of income, savings, investments, details. Using all the info we send in, he would come up with a plan (for $550) for my wife and I to get into property.
As yet, my wife and I havet gone in to see him yet as we feel a little uncomfortable. It may just be first time jitters but we would like to see if anyone else, specifically in this interest group, has had anything to do with the company.[gossip]
The key really is whether he is selling you his stock for a huge markup or not. That is where people get hurt badly.
If it is just $550 for a decent financial education and plan then that seems cheap – another warning sign …
My personal belief is that you can invest time and money in your own education via these websites like this one here, books and even the odd course.
Buying IPs and renting them out really isn’t rocket science you know…..
Simon Macks
Residential and Commercial Finance Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
If you want to invest in property then I would suggest contacting a lender or mortgage broker. They will run through all your assets, income etc and will be able to tell you how much you can borrow and what the costs are.
Then do your own sums and figure out what you can afford. The amount you can borrow will probably amaze you so don’t get carried away.
If you already own your own home then you have been through the purchasing process.
As Simon said, it’s not rocket science.
MargThanks for the comments. My wife and I are looking into our first IP early next year. We still rent at the moment, but in five or so years we would like to be in a position to have our own home, as well as atleast two IPs.
Yesterday I went out and bought Steve McKnight’s book ‘ from 0 to 130 properties in 3.5 years’. Im a slow reader, but it seems to have the same common sense as ‘Making money made simple!’ and ‘More money’ both by Noel Whittaker. Anyway, I’ll see how I go after I read a few more books. [hmmm]
Originally posted by ALBennett:Thanks for the comments. My wife and I are looking into our first IP early next year. We still rent at the moment, but in five or so years we would like to be in a position to have our own home, as well as atleast two IPs.
Yesterday I went out and bought Steve McKnight’s book ‘ from 0 to 130 properties in 3.5 years’. Im a slow reader, but it seems to have the same common sense as ‘Making money made simple!’ and ‘More money’ both by Noel Whittaker. Anyway, I’ll see how I go after I read a few more books. [hmmm]
All books you have mentioned are great. Read all of Margaret Lomas’ books as well.
I agree with all the other guys’ posts re: CFS.
These sort of outfits more often that not are working for a developer and will try to sell you an over-priced property.
Who’s paying for the tv ads? You.Cheers,
Marc.
[email protected]Thanks for the feedback. We have since decided not to go with CFS and to do our own research. We are now looking at a twin-town area on the border of NSW and VIC. [xmas]
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