I have made the decision to start investing in property as I can no longer sit back and HOPE to do it, rather act now and forge a path to financial freedom.
Should I consult an accountant before I start, and if so what should I be looking for from them?
[biggrin]
I am by no means a expierianced investor but i have taken the plunge recently and have this to offer.
Get financial advice
Study the market and get to know what is happening
Base your calculatons on facts not assumptions
Drive around and look at possible IP’s
Go to lenders and find out what they require for approval
Shop around for lenders.
Once you start doing the above you will find you start gaining momentum and things will start too happen.Try and find an account that is in tune with property investment and has some Investment Properties themselves.
Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
Also speak to a Mortgage Adviser on how to set up the loan structure
Wayne
Mortgage Adviser
Email [email protected]
http://www.alphamortgagesolutions.com.au
First home buyers, investors, refinace, loan consolidation, equity loans, free service we come to you!smartin12474,
Make sure you speak to the accountant regarding the structuring. You may need to speak to a solicitor as well. Structures are important to protect your ass(ets).cheers,
Sanjiv Gupta“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Certainly the first thing you need to do is get preapproval on finance. If you do not know what you have to spend their is little point in moving forward. Then select the area that matches your price point and get to know it like the back of your hand. Most investors who fail do so because they have not resaerched correctly.
Imagine that this is a full time business, in this case your employees are on contract. They should include a broker, a property accountant a property lawyer. You also should research what property management is like in your choosen area.Nigel Kibel
http://www.propertyknowhow.com.au
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Nigel Kibel | Property Know How
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Yes a trip to the Accountant is a great idea but firstly you may need a plan so you get the best possible advice:
Step 1 Set your personal and financial goals
Step 2 Prepare a budget and savings plan
Step 3 Have an investment strategy
Step 4 Build your team including visit the Accountant
Step 5 Research
Step 6 Feasibility study
Step 7 Negotiate the deal and repeat!AmandaBS
http://www.propertydivas.com.au
FREE online Property Resources“It is better to be inconspicuously wealthy, than to be ostentatiously poor…”
Thanks to all who responded! Clearly there is a lot ahead but it is comforting to know that there are people out there who are so generous in offering great advice.
Regards [biggrin]
smartin12474Thanks to all who responded! Clearly there is a lot ahead but it is comforting to know that there are people out there who are so generous in offering great advice.
Regards [biggrin]
smartin12474
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