Anyone used Momentum Wealth in WA?

[The Chaser]

In my experience they would charge a fee for setting up the finance, where this could be free through a broker. I would be shocked if they were charging half price property management fees but will stand corrected if this is the case. Also I think they are to specific in targeting areas that provide low yields with the hope of future capital gains instead at looking at an investors individual circumstances. So I don't think its all GOOD.

I would second Kim regarding MW's BA fees, they are a flat fee. As for the finance aspect, my understanding thus far is that MW have a financing arm to their business where you deal with a finance broker - much the same as any broker - and thus there are no fees for service.

We met with a 'property wealth consultant' to look specifically at our personal wealth plan. They were also a BA for MW. I would have to disagree with the suggestion that areas are targetted that are low yield and with the hope of high future CG. In fact our individual circumstances have featured very prominently in recommending likely areas for investment. Early on in the meeting we also reviewed all metro suburbs of Perth (right to the outer developed fringes), looking at various specifics (values, infrastructure, services, population, demographics etc...) in a number of suburbs in an effort to choose or discount various areas from our plan.

So far the service we have experienced has been very tailored to our needs. The fact that MW also has brokers and PM's all regularly interacting with one another, appears to make for a seamless process - or one stop shop. Having said all this, we are still doing our own due diligence to ensure the quality of service is there (this forum being part of that DD).

Thanks everyone for the discussion. It's great to be able to get a number of different perspectives on these things.

Angela

 

[Aaron Sice]

okay - if you have NO IDEA how momentum wealth work then you should probably refrain from posting.

MW can suggest a course of action for your investig strategy, or you can implement your own and give them YOUR criteria for them to find properties that fit it.

allblack - for fear of providing misleading information, ou should probably just read their website before posting opinion instead of fact.

 

[allblack]

okay - if you have NO IDEA how momentum wealth work then you should probably refrain from posting.

MW can suggest a course of action for your investig strategy, or you can implement your own and give them YOUR criteria for them to find properties that fit it.

allblack - for fear of providing misleading information, ou should probably just read their website before posting opinion instead of fact.

Blue Card I was entitled to my opinion which I formed after attending a one hour presentation by Damian Collins.

I repect Angela's opinion who is very happy with the services MW is providing tailoring the service to her needs, so personally I have come to the conclusion that they are more flexible in there approach than was conveyed in the presentation I attended.

That's the beauty of this forum. You can form opinions and after the input of other members with first hand experience your opinion can change.

 

[Aaron Sice]

you should clarify that Damian Collins IS NOT Momentum Wealth. He started MW, but you don't DEAL with Damian. You deal with Emma.

misinformation.

 

[allblack]

you should clarify that Damian Collins IS NOT Momentum Wealth. He started MW, but you don't DEAL with Damian. You deal with Emma.

misinformation.

Geez, He's the managing director and he presented the seminar I went to, so I thought he represented there philosophy!!. How dumb of me.

 

[Jodie701]

We had a meeting with someone from MW last year. The lady (can't remember her name) didn't / couldn't answer my questions and my husband even had to correct her with some of the answers / explainations she was giving us. We asked her how many properties she had and she said none. She had recently moved to Perth from Overseas and was living with her parents. Needless to say we didn't feel confident and choose not to go with them. We were however desperate to do something, so that's when we got caught up in the Kate Thompson scandal.
Later MW contacted us to say that, that lady had left and they wanted us to meet with someone else. By then though it was too late since we had already chosen (wrongly) to go with Kate from Sound Property.

Property Wizards is another BA in Perth that seems to get a good response from SS's

 

[Aaron Sice]

Hey jodie, at least you didn't get caught in the Ken Fraser scandal.....sorry to hear though.

have heard good things about property wizards as well.

allblack - you can't judge a company by one person - CEO or not. no one likes Sir Rupert, but a lot of people like his company.