Hello Everyone!!
I’m a long time reader of the forum and this is my first post.I’ve lived away from my home town of Perth for too long and am moving back.I’ve decided to get straight into investing in property and have done a little prep work for my return.I’m pre-approved and good to go, Yay!
I’ve got a fair bit of cash available, the only thing is my finances (tax, super, etc) are all over the place. Can anyone reccomend a top notch financial planner who supports the kind of investment thinking that is advocated by people like you, “Property Investors”?
Cheers
V
hi vdiddy
re post in finance section for a advisor in perth sorry but you need to be alittle more specific in what you post and put it in the other sectionhere to help
If you want to get involved in some of the projects I’m involved in email to [email protected]Hi V,
While the temptation is there to go out and get a property on the double it sounds as if there are some issues that you need to put in order first. Getting a few of the taxation, superannuation in order first may be in order.
I recommend that you see an accountant to get your tax affairs in order (I assume late returns?). An accountant is the person to see for tax matters.
A financial planner will be able to help you for superannuation however my experiences with financial planners has been less than satisfactory. Most financial planners have limited experience or knowledge about property investment and are employed as salespeople in managed funds and the like.
Sure they have a piece of paper saying they are PS 146 compliant and can attend to the legislative requirements and obligations but are they suitable for a property investor? In my opinion no.
By way of example I am currently working with two financial planners and showing them how they can accumulate a property portfolio. Seems strange, but true.
I suggest you jump onto a couple of the financial planning course provider’s websites to see what the relevant course content is. You may be surprised.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Hi vdiddy,
I am a financial planner based in Perth – OK, that’s not an invitation to send me insults, the rest of you!! I am currently on the RESULTS program and have already had to listen to a long winge from Dave (Steve’s business partner) about the ills of financial planners at the last RESULTS forum in Melbourne when we went to the pub afterwards!
However, I totally understand that a lot of people have had bad experiences so it us in the industry to change peoples’ perceptions. Feel free to drop me a PM if you would like to have a bit of an email chat to find out if it is worth us meeting up.
Kate
yes I think the industry is long over due for attention – the planners that are just selling funds and hence earnign commissions should have a different name to a planner that charges by the hour and gives unbiased advice.
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
hi all
I agree with most of the posts and I don’t think that the term financial planner is the right one for some planners but they are good to give you different avenues to look at.
at the end of the day the best planner is you. take as much advice as possible look at your risk profile where and when you want to get to that position.
I use this example alot and its very real you don’t wake up one day and decide to build a block of 20 units get out a spade and start digging in the back garden.
you plan
and with that plan you start at the foundation.
the structure ie the block of units must be sound so your structure( investment structure)must be sound also.
you must find the right builder so you must find the right accountant,legal,tax and assoc people around you.
you must find the site or the structure you are going to use company, trust( and theres lots to find out on trusts API this month has a good write up on trusts)
then finance for the building or finance for your structure talk to brokers banks and lenders.
we haven’t started building yet nor should you have started investing this is all ground work.
and just like developing whether its a block of 20 units or developing a investment structure once the first is done the next is a mirror and is alot easier but if you get it wrong just like if I build a 20 unit development site and it comes crashing down it is a very expensive mistake and can cost alot to rectify.
so having cash available it could be 1 mil I wouldn’t go out and start investing I would do all of the above and then if its cost you 100k out of the mil and its sound it will pay you ten fold in return.
hope vdiddy you post more often.
looks like you have a little homework to do.here to help
If you want to get involved in some of the projects I’m involved in email to [email protected]Gee,
Thank you all for the advice. All taken onboard and getting sorted.
V
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