I understand that people can't advertise their services on here, but I'll see how I go with the post anyway. Rather than replying to the thread, you could possibly PM me so we're not breaking any rules? Unless of course you're just replying with general advice or previous experience, because that would be great too!
I'm seriously looking at getting some 'professional' advice to nail down a plan for building a property portfolio, this includes property investment specific financial planning and probably the use of a buyers agent. Like most people (I guess) they freak out having to pay more money to buy a house on top of various fees and duties, whether this is through planning costs or using a buyers agent. However, having had a look around for the past few months and realising the time and effort involved, and the risks of getting it wrong, I'm starting to think the minor costs are worth it in the long run – basically the Cost-Benefit Analysis suggests I should at least investigate the options. This assumes the prices are ridiculous
I understand there are a couple of people on here who are Buyers Agents and/or Investment advisors, so I would like to know who you are and start having a chat about options / costs. I figure a site like this where I can research your posts and others' opinions of you, is a good start to 'knowing you' and determining whether we're a good fit. Happy to take recommendations from other users as well.
I live in Canberra, so anyone near here is good, but it's not essential – Southern Sydney is ok too, however I would prefer at least one face-to-face meeting. I go to Brisbane 4+ times a year as it's my old home town, so that's definitely possible. I am looking at buying my second IP as soon as I find one, but I don't want it to be in Canberra. I'm seriously considering SEQ because it's my home town, I know it reasonably well and the family is still there 'just in case', plus it is an interesting place to keep an eye on for property investment. Ideally I would like to buy another 5 or so over the next 5-7 years to build a portfolio of ~$2mil excluding my PPOR, so it would be great to set up a bit of a long term plan / goal.
FYI – I have consulted brokers, bank managers, bank 'financial planners', financial planners and accountants etc. But I'm still not 100% convinced that they were the right people for this specific task.
Interested in hearing anyone else's thoughts on the use of these services.
I doubt you'll find much value from a fin planner. Be careful if they try to push you towards purchasing property – particularly off the plan stuff.
I don't personally know of any decent bankers in Canberra – but of course I'm also probably quite biased.
If you're looking for a BA for SE QLD you could try Richard Taylor/Jac M or Andrew Allen. I don't know if they're targeting these specific areas but you could always ask them.
Hi Jamie, yes I am going to email Richard as he is obviously an active member here and has answered some of my previous posts. I hadn't heard of Andrew though, so I'll chase him down as well. Thanks for the heads up.
Shanin, in regards to strategy that was the main thing I wanted to chat with the planner about. In my mind I'm happy to do a buy and hold (I'm in my early 30s), with a combination of yield and growth across the portfolio with the eventual idea of paying them off for a passive income around retirement.. at whatever age I decide that to be. Due to work commitments and locality, I'm not sure if development is on the cards. But, like I alluded to in my original post, I'm not sure if I know enough to make the right decision.
In regards to budget, the main reason I want to commit to something is to force me to use my income for something a bit smarter. I have 80% LVR on $1.05mil in property, and about $75k in cash. I am saving about $50k a year in my current situation, which I plan to redirect to the property portfolio (if I knuckled down I could save $65k+). My goal would be to use this money plus ideally some capital growth in the portfolio to fund the next purchase, and so on until I can't service it anymore or I've had enough.
At least, that's my plan based on my own research.
In my mind I'm happy to do a buy and hold (I'm in my early 30s), with a combination of yield and growth across the portfolio with the eventual idea of paying them off for a passive income around retirement…
In my mind I'm happy to do a buy and hold (I'm in my early 30s), with a combination of yield and growth across the portfolio with the eventual idea of paying them off for a passive income around retirement…
Sounds like me just with the odd reno thrown in.
Cheers
Jamie
Smart people think alike! I would be interested in knowing how you're going, where you are on your 'journey' and ideally, what you would do differently if you could!
Don't go down to Canberra very often but do travel to Melbourne / Sydney to run investor presentations.
Other than than be happy to catch up when you are up in Brisbane.
Currently overseas until Thursday but if you wanted to give me a buzz in the office end of this week / start of next be more than happy to have a chat over the phone to start with.
Feel free to have a look at our website in the meantime.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi guys, In Melbourne there are no shortage of buyer advocates and property agents, and you will notice they work in different ways with different models and therefore its extremely important that you find that right one.
My firm uses two in Melbourne which I am happy to provide the details to you and you can take it from there. They will cover both English and Mandarin speaking clients. Offices located close to the city as well for convenience, just give us a yarn at and i'll provide the details.