Hi there,
I’m new to the forum and to investing and have been doing a lot of reading and researching. Before I get started down the investing road just wondering if anyone could recommend a good accountant in Brisbane who knows/does property investing?
Look forward to learning with you all 😀
Kylsta
Hi Kylsta
What are you wanting from an Accountant ?
Reason i ask is it is not the first port of call for most would be investors.
Usually you would want to work our what you can borrow and how you can structure it.
Credit advice is the domain of a mortgage broker.Let us know and we can direct you accordingly.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Sometimes an accountants advice won’t necessarily be the best advice for an investor. Accountants tend to focus on reducing tax payable whereas investors focus on either cashflow or capital growth.
The boys are bang on with their comments.
Also when you get up to the part that you actually NEED an accountant, they do not need to be located near you. All can be done via email/phone/skype. So you need one that is a suitable balance of good in the field you need them to be, and appropriately priced. They can be located anywhere in Australia.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Thanks for replies.
I am looking to get my finances sorted initially so I achieve maximum borrowing power. I’ve been told that it is bad to cross collateralise (which is what I currently have done). I have an investment property which was initially my PPR and is now cash flow positive.
So need to work through this before venturing any further…..
Uncrossing your existing loans maybe possible subject to lvr and current valuations but an Accountant wont be able to advise you about this unless he holds a Credit License or is a Credit representative.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Like everything, there are positives and negatives to cross collateralising loans.
On the downside a particular lending institution knows far too much about you and if they decide to wind in the reigns by reducing LVR’s etc. can possibly make life difficult.
On the upside having all the loans together with a master limit can take advantage of multiple smallish equity increases being lumped together to enable the purchase of an additional property without the headache of refinancing each individual property with multiple lenders.Definitely sounds like you need a mortgage broker, than accountant. A good investment focused broker is going to be able to advise you on how to maximise your borrowing potential, how to strategically structure your finances to work FOR you, not against you etc.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
Thanks again all for the responses.
My investment property (previously PPOR) is currently valued around $750k and I owe $165k.. ( purchased in 2001)
It rents for $660/week. Current PPOR purchased using equity in current IP for $450k. Appreciate your thought on best way to structure loans for best results.
Also, I have heard recently the investing in commercial real estate is a good way to go for higher returns, does anyone have any experience in positive cash flow commercial investments?
Thanks again, really appreciate your replays.
Kylsta :)
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