Hey guys just a little post about how beneficial it is to seek advice from people that are experts in their field ie financial advisors, mortgage brokers, property managers etc.
I am new to investing and i am essentially trying to educate myself as much as possible in all aspects of property investing before i jump into the deep end. I have posted previously about the intentions of property gurus and mentors etc and received quite useful feedback. I am currently reading Steve’s book 0 to 130 properties in 3.5 years and it has also been very informative.
I have watched Robert Kiosaki’s videos on being financially educated to be the best possible investor and and i want to expand on this point.
The question im posing is how beneficial is to seek advice from financial advisors, morgage brokers etc in respect to investing in property. I am keen to learn all about finance, loans and finance, correct property management etc and trying to find the best way to go about this.
I currently reside in Canberra so please recommend anyone that has been useful to you in or around this area.
Cheers Paul
Hi Housing F
Firstly welcome to the forum and I hope you enjoy your time with us.
Jamie from Passgo who is a regular forum contributor is Canberra based and would be a great place to start.
He could answer every question you could throw at him in regards to any aspect of lending and is a property investor himself (unlike many mortgage brokers) so can also give you local advice on property management etc.
Good luck and lets us know how you go.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Forgot to say let us know if you cant find Jamie's contact details and i can post them for you.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Yep 2nd Jamie. – he should be able to get you in contact with accountants and conveyancer if required.
Jamie
Pass Go Home Loans Pty Ltd – Australia wide Mortgage Broker
http://www.passgo.com.au | [email protected] | p. 1300 656 299 | PO Box 286 Woden, Canberra ACT 2606
Expand your due diligence – “like” Pass Go on FACEBOOK and get up-to-date IP info http://www.facebook.com/PassGoRegards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
Housing fanatic wrote:The question im posing is how beneficial is to seek advice from financial advisors, morgage brokers etc in respect to investing in property. I am keen to learn all about finance, loans and finance, correct property management etc and trying to find the best way to go about this.Cheers Paul
Comes down to personal choice and experience. If you have no idea what your doing or there is something about your file or what your purchasing thats a bit iffy- your best to get a expert involved; so they can get it right the first time with less fuss and better overall outcome financially.
Regards
MichaelMick C | Shape Home Loans
http://www.shapehomeloans.com.au/
Email Me | Phone MeSame Banks. Better Rates. Served With a Passion.
I have never had any good come from talking with financial advisors (tried for years) but a mortgage broker can help prevent common mistakes (cross collateralize etc). This can cause lots of problems and restrict your ability to move forward. Having your loans set up correctly is very important.
Also talking to a property savvy accountant about structures. Having things set up (buying in correct entity etc) is also very important if you want to build a substantial portfolio (or even if you want to buy, sell for profit). There are ways to legitimately reduce your tax.Thanks for the wrap guys.
Welcome aboard Paul – great to see more Canberran's on the forum.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Paul
Property Management – usually the service that no one wants to pay for!!
As a licensed property manager – I dont even manage my own properties.
Unfortunately the industry hasnt always had a great reputation however that has changed in recent years. There is certainly a lot more training invested by employers as PM has usually been considered the 'poor cousin' to the sales department.
Anyway, in this industry – you get what you pay for.
Suggest when looking for a PM you ask questions like;
1. How many properties do you personally manage?
2. What is your experience?
3. Are you a home owner?
4. Are you an investor?It wasnt until I became a home owner, then a landlord, that my whole perspective changed about how I managed my clients properties. Realising the value of rent increases, long term leases, suggesting a lick of paint and fresh carpet and how that will increase your properties value and rental return etc etc
Good luck!
Regards
Verity
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