Hello
I am new to investing and have bought my first property in Townsville Queensland. I am keen to get a property portfolio started but I think I need some guidance on the way. I have tried to find a good accountant but keep getting sent to a tax accountant. Does anybody know a good property investment accountant that I can work with?
Thank you
Brian Peters
premo
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Hi Premo and welcome
Are you looking for an accountant to provide accounting services or are you looking for someone who can advise/mentor you in your investments?
If you are looking for the latter then an accountant is not necessarily the best person unless they are successful investors. It’s always a good principle to learn from and take advice from people successful in the area in which you are interested – e.g. Steve McKnight for CF+ property investments.
Cheers
pr
Hi Peter
Thanks, I think your right I am looking for somebody who is a mentor and can show me the ropes. I have read a couple of Steve’s books understand the basic fundamentals for positive cash flow properties but when it comes to actually doing it u could say I need some one there that I can show and tell that I am making the right decision.
Do you know any good mentors that I can call and help me out on the road to success,Thanks Peter
Hi again Brian,
I’m not evading your question regarding mentors, but they are a bit like “horses for courses”. It’s very much a situation of finding a number of people who are where you would like to be. Then you have to select one or two with whom you relate very well. You need to be able to trust them because you will have to be very open and honest with them so that they can give you the best advice that fits your particular situation and personality.
Note however, that not even mentors have crystal balls to see the future. Ultimately the right decision is one that achieves the outcome you want in the time frame you specify, but this is often only made in retrospect. A good decision is one that leads you on the path of making right decisions, and again a good mentor will empower you to be able to make those decisions for yourself without relying on anyone else – you will become independent in your decsion making process. In the end the greatest learning comes from experience – both good and bad.
By the way, mentors have qualities that you respect and aspire to achieve, and they won’t necessarily have skills specific to property investing. You probably know a lot more about property investing than you think you do but possibly don’t have the confidence to act. This confidence eventually comes only through action and if you are alert to the market and have time on your side as well as talking with some successful investors then you will end up making right decsions in many areas of investing.
Best wishes
pr
Hi Premo11
couple of things
1. pete r is a very good post and you would do we’ll to follow it.
2. its a bit late now put you need to do this research before buying the investment because you are currently running bare foot down a freeway and the other investor are driving vehicles to get to the end.( or they should be)
3. The accountant is what you need to setup a system( vehicle) that is specific for your goals the mentor can direct you but if the vehicle is wrong you won’t go any where and after you find the mentor he/she will tell you set this system up anyway.
4 Join the local investor groups if in sydney there is one on the 11 sept
5 read the back dated posts and learn
last but not least a mentor is only a person that is further down that freeway that is trying to pull you up to catch him/her some of us have made these mistakes and they are easily solved if planned at the start.here to help
Premo11
I live and have 3 places in TSV. 2 units and trying to build a house. if u need a favour or some local help email me, adriannqld hotmail com. i use an accountant on thruingowa drive Kirwan but i dont know one that can provide good mentoring. if an accountant knows how to make good money in property why wouldnt they quit accounting and invest full time like steve.
+ trying searching the forums for townsville or accountantsAdrian Cahill | AdrianCahill.com Personal Development Expert
http://adriancahill.com/from-investor-to-coach/
Email Me | Phone MeHere since 2002, however things have evolved over the years.
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