- Hi everyone
Has anyone used Momentum Wealth in WA (Damian Collins' company) for any of the services listed below? I did a search on the MW name for prior posts but didn't find much.
*wealth planning
*buyers agent
*finance broker
*property management
*Property Masters ProgramAny feedback would be greatly appreciated, including the name of the consultant you dealt with. Thanks in advance.
Angela
Hi Angela,
Did you get any feedback at all for this post?
Did you end up dealing with Momentum?
Reason I ask is im currently looking at dealing with them at the moment. Just trying to track down anyone who has used them for some advice/opinion,
Andy
I never used them for purchasing anything. I went in to have a chat to their loan broker and was shocked when she said she would charge a fee for every loan she processes, on top of her commissions. She also told me about two lemon investments she had bought in the last year or so, which didnt impress me seeing as she worked at a property investment company.
Having said that, I have been to one of Damian's seminars and he seemed pretty genuine and knows his stuff. Some of his case studies were impressive, and he did say there are projects where you just have to cut your losses some times. The company seems professional and Im sure you would get as high a level of service from them as any other place.
Worth heading in and having a chat with them if you haven't already.
Hi ktastrphe
Thanks for the reply
I have met with them since posting that and they were fairly impressive. You are right however their fee's are quite high… But it would be worth it if they really do provide the service they say and buy good properties. Just have to think things through. I am time poor so a buyers agent seems the way to go just have to decide who to go with,
Andy
Hi, I use there Loan broker and PM, so if there are any questions you would like me to answer I am happy to anser them
ktastrphe wrote:I never used them for purchasing anything. I went in to have a chat to their loan broker and was shocked when she said she would charge a fee for every loan she processes, on top of her commissions. She also told me about two lemon investments she had bought in the last year or so, which didnt impress me seeing as she worked at a property investment company.Having said that, I have been to one of Damian's seminars and he seemed pretty genuine and knows his stuff. Some of his case studies were impressive, and he did say there are projects where you just have to cut your losses some times. The company seems professional and Im sure you would get as high a level of service from them as any other place.
Worth heading in and having a chat with them if you haven't already.
That Loan Broker you mentioned, sounds like the one I use.
She has told me about the dud she bought too, but I like her honesty, we are only human and know one on this forum has not bought a dud before, surely.
She is really great, she has got me out of the mud before when I was cross collaterized, and all my IP loans have been far from text book, great work ethics and I find her comforting to have by my side when going for loans, she is a wealth of knowledge either a phone call away or at my fingertips.
There seminars are also quite honest, they only push a little bit of there company, but they need to, they all do. You can walk away with allot, and I usually do.
I also use there PM for one of my IP, I think they are a little pricey at 9.9% but she also has found me great tennants, very detailed inspections, and keeps me very much up to speed with the property in regards to maintenance.
I was going to use there Buyers agent once, but eventually shied away from this, at the time I was buying an IP in Melbourne, he was dead against it. I soldiered on, it has been so far a disaster, obviously there a a few underlying factors, but he was right.
In saying that though he has since left M.W and is working in Melbourne as a B.A??? I put this down to life style choices.
One last egsample, I recommended my broker to a guy I live with who was looking at an IP and had an offer from a bank.
I suggested to use my broker, in the end she could not get him a loan with a lower interest rate and said to him 'You would be stupid not to take it, if the lowest interest rate is what your strongly after'.
So he went ahead without her, fine. It showed me that she had his interests at heart, although I tried to tell him what's 0.35% when atleast with her she will keep you informed of upcoming changes and keep an eye on your loan, and give you ongoing advice and begin a repoire, she made it easy for him to NOT use her and did not pest him.
I for one, like that.
In Summary, I use them and am more happy than less, and confidently recommend my broker or PM to friends.
I have acted for many a forum a client who has purchased thru them where we have organised the finance.
A couple of forum clients were spell bound when their recommended Mortgage Broker told them she charged a fee as well as receiving a commission from the lenders she placed their business with.
I guess nice work if you can get it or can somehow justify the fee.
Must admit most Brokers structure the loans as part of the overall service.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
How does she justify charging you for something she’s already getting paid to do then, can’t be that great if she couldn’t beat/match the banks lowest interest rate. I wish I could double dip where I work!
That’s what’s great about tree surgeons too, they can charge you to come and cut down/take away a tree then they go and sell the wood!
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