Are We Property Spruikers? | Throwback Tuesdays

When someone leaves a two-star review calling you "property spruikers," you've got two choices: ignore it, or read it out loud and respond properly!

In this Throwback Tuesday snippet, Bryce & Ben unpack a listener's concerns about high debt, over-leveraging and vested interests... and why a healthy dose of scepticism is no bad thing.

For the original episode, tune in here: Episode 437 | The Biggest Danger People Face When Looking at Property Data.

LISTEN TO THE FIRST 20 EPISODES HERE >>

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Transcript

SPEAKER_01 0:04

We receive some feedback. We ask for people to rate us and review us. And our eternal hope is that people rate uh five stars and they say something um effusive or positive about us. But someone has recently rated us and didn't give us five stars, Ben, they gave us two and gave us some feedback. And I want to talk to this point because I think it's really important. Um, and just uh some feedback to our community that we we we do read them, we do take on board what you say. So this one is um the the name is Stego Sorwis. Stego Sorwis, Ben. So Stego S-A-W-U-S. Um, and this is under the heading property sprukers. Um, these guys are very convincing, but be careful. I do wonder how many people they have encouraged into high debt and now are having trouble servicing those debts as their property portfolios concurrently fall in value. Yes, the majority of property investors will do fine, but I fear for people who are over-leveraged. No, these guys have a vested interest, which to their credit they sometimes acknowledge. Okay. First of all, thank you for the feedback. Um, uh, we don't see that as anything other than an opportunity to make sure we stay uh true to our philosophy, try stay true to who we are, right? So um these guys are very convincing, but be careful. Okay, thank you. I think everyone should be careful, not just um listening to us, but listening to everyone. So let's do a tick on that. I do wonder how many people they've encouraged into high debt and now having trouble servicing those debts. Hopefully, Ben, um, for our community, um, this is we have this nurturing, guiding um uh North Star where we we actually don't want our people to be leveraged into high debt and get themselves into trouble, which is why we've always talked to the fact that we want them to be planned, we want them to look around the corner, we want them to have a think about not just today, but sort of what's happening in the next couple of years. So um as and and and then uh trouble servicing those debts, it is our eternal hope that we have imparted knowledge into this community that they that they build buffers, and if they are clients of ours and they have a plan in place, we've done very conservative buffers, Ben. So um I know you probably got something you want to say here, but I think these are important points. If this is what the sentiment that someone is feeling, um, we want to help people mitigate any of these concerns.

SPEAKER_00 2:29

Probably a good reminder for the A B C D Bryce, um, which is really C B A D, which is everything we do around frameworks is around cash flow, making sure you can afford it today and into the future, borrowing power, making sure that you're okay and you can handle the borrowing power, asset selection, and then mitigating risk through defense. And you would have heard us of many, many recent podcasts, and even from the start from eight years ago, we've always talked about $2,000 a week, not being too greedy, not buying 15 or 20 or 30 of these types of things. So um that will always be our message in terms of only take what you need to give yourself a comfortable retirement. Um, don't be too greedy. That also forms part of what we're talking about. But hey, to um Stego saurus, um, he's got to get a he's got to get a start and build course.

SPEAKER_01 3:20

100%.

SPEAKER_00 3:21

100%. So reach out to us because we're thankful for the opportunity to remind people and to your warning there in terms of you know, make us continue to hold us to account, make sure that um we're we're putting all that information together. But that's that's pretty much all I've got to say about that one.

SPEAKER_01 3:38

And and uh Stegosaurus, um, if you feel like that's got a conflict of interest, uh, you if you don't want the course, that's fine. We're not we're not trying to um to to to to do anything other than say thanks for being transparent. I just want to talk to the last bit, Ben. Know these guys have a vested interest, which to their credit they sometimes acknowledge. Um, okay, let's be clear. Um we we have a business. You and I, Ben, um, we have a business and it is a done-for-you service. So if someone says um, I don't want to do it myself, I want it done for them. We serve a place in the marketplace for that, and we've been very transparent around that. Um, what what we haven't done is um gone and funded this podcast um via ads, and we haven't funded it um by uh uh having a constant um interrupts about um the Empower Wealth business. We haven't done that, and it's something that we are very proud of, right? So um do we have a vested interest? Uh yes. We we genuinely uh anyone who gets to know us um off off air know that we are super interested in helping people. Um do we have a property portfolio ourselves? Yes. Do we have a business that that pays us an income? Yes. Are we are we providing as much information and bringing our very best each and every week? I hope you feel the answer to that is yes, because we are trying our darndest to help the amount of people that send out a note to us to say, um, thanks for thanks for the info. We've implemented it and now we're on track, and there is zero commercial relationship in that. Um, that makes us just as proud, Ben. And we are stewards and shepherds to our clients to make sure that they are well looked after and going in the right direction. And we we are unashamedly uh unapologetic about that because there are people who want it done for them. So um, but we don't want anyone over-leveraged. Uh, we want to make sure your buffers are in place, and we agree you should be careful, you should have a healthy dose of skeptics. If this is the first or second, or maybe under 10 episodes that you've heard from us, listen to heaps more until you actually get a sense of who we are. Um, because until you do that, you probably shouldn't do anything with us.

SPEAKER_00 5:54

Yeah, that's right. I mean, 50 years of combined in-field and active experience in the particular space. So we like to think that that's the information that we're sharing, and we like to think that the majority of our community feel that way. Um, we are not turning into a media company. We are not going to spin off multiple um, you know, sub-interest uh opportunities for that. We are dedicated to financially transforming transforming households, and the preferred method in which we help people do that is through direct residential property in terms of existing, um buying existing property, we don't buy new or off the plans as part of that particular story. So that's the message that we're sending. So thank you for those who who gain value from that. We don't want anything in return, but if you need help um on that journey with some trusted advisors who have walked that path in their business for coming up toward you know almost 20 odd years. Um