Hi all,
We are due to arrive on the sunny gold coast in about 7 weeks time, to take up permanent residence and begin our investing “careers”…
I was hoping that someone in the property investing.com community would be able to provide some assistance, we require some contact details for a skilled accountant in the surfers/broadbeach area that has extensive knowledge in the property game, so that we can set up a trading trust etc.. as we would like to do a couple of reno’s initially to get our capital up.any help in providing the right person/s would be greatly appreciated
thanks again
Ben
Hi there
Your accountant doesn't necessarily have to be located in that area.
Here is one to try:
Mario RacitiBamfield & Co4/123 Clarence StSydneytel (02) 9262 1222Good luck!
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Ben
Or if you would prefer someone based on the Coast and a forum member try my Accountant
Steve Hodgkinson – Gold Business Group
Phone: (07) 5532 2855 Fax: (07) 5532 4563 Email: [email protected] Steve is an expert on property structures and has advised many of my forum clients.
Tell him i sent you and he will look after you.
Richard Taylor | Australia's leading private lender
Thankyou very much for your help so far. to be honest i think we would prefer to go with someone based on the gold coast for a more personable experience, that feeling of knowing who you are dealing with that much better after a coffee or two!
thanks again, i have more questions to follow!!
Ben
Dont worry Ben Steve is a great guy and more than knows his stuff.
Many a forum client here over the last 10 years have been pleased they have had dealings with him.
Richard Taylor | Australia's leading private lender
great, i look forward to sitting down with him and with any luck build a lasting business relationship. does he by chance have a website or some contact details?
thanks richard
also are you based on the gold coast?my apologies, his contact details are in the previous post
Hi Ben
Sure http://www.gold-group.com.au/
We are based in Brissie but have clients all over Australia.
Richard Taylor | Australia's leading private lender
Richard,
do they cover sydney as well?
Richard,
would you say that many investors are using brokers, in the initial stages anyway, when gaining finance for ip’s and/or homes to live in in the current market and economic climate?
my fiancee and i are looking to build our team for when we arrive in australia, and are wondering wether we should approach the banks ourselves, with our history, deposit, a brief character overview, income, etc. we feel if we can do the little things like show our servicability by breaking down 35% of our total gross income and showing forecasts for expenses from food and living etc and perhaps putting it in amongst our other paperwork it will show we have brains. however, i am aware that a good broker can get below advertised interest rates, fees waived etc, as well as having a developed relationship with many banks. Can we be sure that our chosen broker will do the best he or she can – just as i would if i walked in the bank myself?thankyou for your help so far, it is hugely appreciated
ben
Hi Ben
Having been in the industry for over 20 years and a substantial property portfolio myself i find that working with clients is not a matter of just trying to get them the cheapest interest as no 1 lender will be able to guarantee this.
Most clients are more interested in structuring their loans to ensure their securities are not cross collateralised and that they are not limited by 1 lender as to whether they can keep moving forward with their portfolio.
Currently brokers process around 35% of the total loans in this Country but this figure increases every month and would not suprise me if we follow the UK model where over 65% of loans are processed through Brokers.
Remember walking into the Bank itself and putting forward your details will do you absolutely no good at all as most Branch managers have NO credit discretion these days and everything is forwarded to a central office Credit Dept based in Sydney, Melbourne etc .
The days of lenders working off 35% Gross income and you providing them with your expenses have been and gone as lenders now combine a combination of Credit scroing, DSR and use a standard Living Allowance scale normally taken from the Henderson Poverty Index or similar.
Most Brokers can deal with every lender out there so opens up a lot more avenues for a client these days especially given how tight finance can be.
GOM – Yes Steve has clients all over Australia
Richard Taylor | Australia's leading private lender
Richard,
how much does he charge/hr?how to contact him face to face if he is based in Brissie?
Thanks richard, thats excellent reading, my gut feeling was that using a broker would better suit us. it has to be said though that everyone wants to do the best job they possibly can when representing themselves, particularly when dealing with banks and lenders, so i thought i’d get a feel for what people did. i wouldnt be surprised if the 35% of people mentioned that used brokers were the more astute investors, the other 65% being people owning their own home only, just hazarding a guess.
any other advice you had on using a broker, or dealing with banks on the first meet would be greatly appreciated,
have a great dayGOM
You would suprised how many client from the forum all over OZ i have referred to him who actually fly up once a year to sit down and work thru their portfolio.
Given that it could be Tax deductible i guess coming to the Gold Coast is not a bad place to come to after all.
Richard Taylor | Australia's leading private lender
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