Hi,
We just recently bought our first investment property which is negatively geared. I want to speak to someone about strategies to keep purchasing eg: next time purchase +ve geared property and use surplus to pay negative geared mortgage???
Do I need a financial adviser/planner? Are there different professions that cater for this? Are they members of boards? Are they equally credible? Do you get what you pay for?
We only have about $6k in reserve so I don’t want to blow it by seeking advice in the wrong direction from some prankster.
We are in WA [skull]There are a few financial planners around that do property.
Although – there is no actual protection for investors under ASIC, who seek property advice. So you could be speaking to someone that is only offering you their own properties, and there is no comeback. This is why some of the property spruikers, who offer their own developments are still in operation.
There are brokers around that can help, like me [biggrin]
There are free property groups you can join, where like minded people get together. maybe a request here for groups in your area.
Then there are the real education groups, where they are not selling their own properties – but can be a bit more expensive.
Regards
JohnInspired Finance
(02) 9944 7776A qulification could just mean that they are working for a paycheck and if they are you only need advice from these people if you want to be like them.
I would be looking for someone who has experience in properties and derives most of their income from investing rather than working in a job. [biggrin]
Joining property groups is also a good idea.!!!
As John stated [biggrin]
Investment Property Management
http://www.adprop.com.au
There are brokers around that can help, like me [biggrin]Regards
JohnInspired Finance
(02) 9944 7776Are you a Financial Planner John?
Simon Macks
Residential and Commercial Finance Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Dee
From the specific question you have asked i do not feel that it is an area a Financial adviser would be best suited to adivse you and you maybe better off with mortgage broker.
In saying this when you increase your property or investment portfolio there are other consideration as well as the gearing effect which need to be analysed i.e Risk cover etc.
Only a financial planner is able to provide you advise in this respect.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner.
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
Originally posted by Mortgage Hunter:Are you a Financial Planner John?
Simon Macks
Residential and Commercial Finance Broker
[email protected]
0425 228 985LOL, no Simon I am not, as clearly stated.
I have held dealing licence’s for many years, and helped many investors structure their finance to continue buying. The question is more related to structuring finance and there are no restrictive laws in regards to helping people with that.
Unfortunately many Financial Advisors do not look at property at all, and the ones that I do know of, quite often have real estate licences, or sell their own developments. There is minimal pure financial advisors for property, where you pay for their time only, and they give advice only.
It has only been over the last two years we have started to see more financial advisors (for other investments, not normally property) that charge for time, not by commission.
Regards
JohnInspired Finance
(02) 9944 7776Hi Dee Dee,
I am an investor in Melb and have been ‘in the game’ for about 6 years. I am not a financial advisor trawling the property websites looking for business.
I have made some good and bad decisions and am always learning, but it helps to have a like-minded team around you.
About 2 years ago my wife and I joined the DESTINY FINANCE team through reading the MARGARET LOMAS books on property investing (I have read a million books on this topic).
Before you go any further you should buy and read every one of Margaret’s books – she just won Business Woman of the Year. Her books will give you all the ‘nuts and bolts’ of property investing.
Destiny Finance Solutions are financial planners who advise on various ‘vehicles’, but their specialty is real estate which is what attracted us to them, and I have found Michael and Laurel Sloan at the Melb branch to be absolutely fantastic.
Thieir charges are a flat fee for a finance plan, or you can ‘get on board’ as a client and become part of a team with excellent support, and their software package for managing multiple (or single) Investment Properties is brilliant. They also make income out of loans they arrange for their clients.
They looked at our financial position (it was already good) and formulated a plan to go forward with. We signed on as a client, and in the first 12 months I was on the phone to Mike and Laurel almost every day. They are very obliging.
There were no hidden traps, or products they tried to sell us. They also will help you organise the right type of investment loan if you need it. We already had a good loan in place when we joined them, so we didn’t do anything straight away, until our fixed term period ended, then we restructured our loan through them.
There is a branch in Perth; look up Destiny Finance on the internet and you can get the branch details. As a client you become qualified to take advantage of all sorts of different services and discounts relating to property investment, tax, etc etc.
If you want some confirmation of what I have said as bona fide, ring Michael at Destiny in Fitzroy, Melbourne and ask him about ‘Marc who moved to Los Angeles’ as a client. He won’t give you details (I hope) but he should confirm I am a client and not a salesman on the forum.
Hope this helps,
Cheers, Marc.
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