Hello all…Riddle me this? A simple miner with no investment experience, $140k job working 5 months a year, with equity, banks will give me waayyyy too much money…Where does a man find the mentoring and educational material he needs to create the wealth and security from property that my children can enjoy??
I have spoken to a number of financial/asset planners on the east coast that just seem a little shady to me.
Simply put guys, please can anyone recommend from personal experience a mentor/strategist with integrity that will serve me well in the journey to build a profitable portfolio over the next 10yrs or so??
I have been intrigued with the power of property for many years and feel that now is the time join you lovely people so do tell…
Peace
Hi fivemajix
Any reason why you can't tackle this on your own?
If you've got the time/energy then there's nothing that you can't accomplish in the world of property investing without forking out for a mentor.
Start with educating yourself. Read widely and learn about the various strategies that investors adopt.
Work out what your longer term goal is and then work backward from that.
Appoint your own professionals – find a good finance person to work with, a good accountant and a good buyers agent (if applicable).
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]
Yep thanks Jamie,
self education is obviously top priority (and I've got alot of that to catch up on).
However Its my belief that a couple of grand for good advice could save a mother load of cash, heartache (possibly divorce lol) in the long run.
In recent months I've heard of Helen collier whats her face spoken of very highly…The Real Wealth Australia team may be a good start?? Any ideas guys??
Perhaps a buyers agent?
Work out a strategy with an approximate area and then employ a buyers agent to source for you.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thank you my friend.
'Work out a strategy" ..the objective is clear.
Surely there's someone out there that's smarter than a machine operator that left school in year 9 and thinks the word tax is something a yacht does. Who do you think is a good advisor/mentor to concoct the "strategy" or most efficient formula (in English) on how to purchase 10 safe properties to support retirement (in 20 years or so) without taking to much food off the table…foods good stuff.
Better still good people…IF YOU HAD OVER HALF A MIL SPARE CHANGE AND WANTED TO CREATE SOME REAL WEALTH IN THE COMING YEARS, WHAT WOULD YOU DO??
My father always told me it didn't matter what kind of real estate I purchased – just as long as I purchased.
And so I did! JUST BUY!!
Fivemajix,
If you are earning well and have the ability to construct an effective portfolio .. you will need to base it on YOUR needs and requirements.
I can come in and show you cash cows (positive cashflow properties) or negatively geared gems (great for reducing both tax AND income). It really is the choice of how YOU want to live in the time where you are waiting for your investments to come good.
There are always the basic criteria to making a property an ongoing success and thats the fact that IT MUST BE LIVEABLE to the tenancy.
Which of course makes it attractive for the potential owner too.
Outside of that .. the rules are pretty simple .. treat main streets as arteries, public transport as a necessity, and shops nearby as a requirement. And you'll find you'll please most people, have strong tenancies and 90% of the time wont shoot yourself in the financial foot.
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