Hi, I am looking for someone who can give me one on one financial advice about my current situation and how I can improve it or move forward. I am based in Sydney, NSW and I currently own 2 properties both of which are negatively geared. I have read the 0-130 properties in 3.5 years and I am ver interested to see if what I am doing currently is correct. I will attend the Sydney seminar in November however in the short term I would really like to find a financial advisor that I can work with on a one to one basis. May I please ask anyone for suggestions?
Hi Louise,
I am also in Sydney and work for a financial planning group. I could refer you to a number of financial planners in and around Sydney if thats what you really want, but to be honest I think you will get more answers related to your property investments on this forum as there are many here who are experienced in what Steve talks about and + CF property concepts. Many financial planners would recommend -ve gearing and not really understand +CF property concepts, especially not wraps etc. Otherwise they would probably recommend you sell your properties in order to invest in managed investments. Not all are like that, but you need to be careful. In Sydney you will also pay probaly $500+ for a financial plan. Depending on your own knowledge, I would suggest you read a couple more books first or ask specific questions on the forum.
Let me know if you still want to speak to a FP though – I can give you the details of one or two who are also a property investor.
See you at the seminar.
Tas [
]Hi louise,
If there is one book i can thoroughly recomend for you it is ‘money secrets of the rich’ by John burley – Sure it’s an embarrasing title but there is a financial plan base that he puts forward that I believe is the strongest, most logical and easy to follow that I have read – his book is light on the conceptual/get rich quick side and heavy on the step by step plans to become debt free and positively geared in your whole life – he is extremely sceptical of your garden variety financial planners as they are just there to ‘Sell’ financial ‘Products’ and profit from their ‘commissions’ explains why very well.
I can tell you that I brought this book and it changed my life – Not so much from the property angle, although he is very good at that too but from the financial fundemantals he puts forward as an absolute basic before undertaking ANY proprty investing.
buy it read it you will be very pleased – You’ll also run out and deal with your negative geared properties too!!!!
Thankyou Tas Investor and thankyou Morvyn. I will certainly take your advise and buy the book Money Secrets of the Rich and continue to self educate myself.
Between the 2 properties that I have there is very little left over at the end of the month. I belive one of my properties that I have had for 2 years has made around $200,000 and the other property is only new so it it just costing me money. I think it may be time to selfl the 2 year old property and free up some cash flow so I can look at some positvely geared properties.
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