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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1 SPEAKER_01: 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: 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: 100%.

SPEAKER_00: 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: 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: 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