The Property Investor Dream Team
A successful property investor recognises the need to engage with experts who understand the real estate business. This serves as a good tactic to build a large and profitable portfolio. Investing in real estate involves a range of tasks, which is impossible for you to do yourself without restricting your growth. We find out from 6 experts why a professional team can help you become a successful property investor.
Mortgage Broker
A mortgage broker explores a range of finance options across many financial institutions and can help structure a home loan that is best suited to your goals.
Louisa Sanghera, Senior Finance Broker of Zippy Finance conveys, “Good brokers ensure that you are finance-ready to benefit from new opportunities. The broker considers your overall financial situation and investment strategies and offers the right loan structures and products. Many people are unaware of different loan structures available and choose the wrong one, which can prove risky, especially when they do it on their own.”
“The right broker saves you money on financing, adds value to your purchases and helps you plan long-term growth strategies. You’ll also get expert advice on budgeting to ensure you don’t overlook the additional costs associated with real estate. Committed mortgage brokers collaborate with you for the long term, and review your portfolio on a regular basis to help you build equity.”
Buyer’s Agent
A buyer’s agent will research locations, complete due diligence and negotiate on properties that align with your goals as a property investor.
Victor Kumar, Director of Right Property Group explains, “A good buyer’s agent not only helps you realign or develop a good property strategy but also exposes you to areas and off market purchases with their increased footprint, research and contacts within the industry. The agent seeks to understand your investment strategy to help you make informed choices.”
Property Manager
A property manager diligently protects the cash flow of your property and identifies ways you can maximise the rental return on your investment.
Michael Murray, Managing Director of Murray Property advises, “A skilled property manager empowers you with the knowledge of trends, market prices, and ways to enhance the attractiveness of your property while minimising vacancies and maximising potential rental income from it.”
“The property manager may recommend minor alterations to the property, which can add tremendous value and market appeal over the long-term. Property managers will ultimately simplify your life by taking care of various facets… and will help you engage your property in a manner that builds long-term equity.”
Lawyer
A lawyer examines all the legal aspects when buying a property and ensures your purchase is in your best interests.
Hae-Jung Kim, Property and Immigration Lawyer of K&T Legal establishes, “Ensuring you have a good property lawyer is essential in the process of creating a property portfolio whether you are selling or buying property. Property is one of the most expensive assets that you will purchase and buying multiple properties is like running a business. You need to have the right structure and tax advice while understanding your obligations to ensure that you are following the right path based on your personal situation.”
“Each person has different goals, financial capacity and reasons for the property purchase. A good property lawyer will advise and educate to ensure that you have a roadmap that is best suited to your needs.”
Accountant
An accountant collaborates with you to develop a finance and tax strategy tailored to your property investment goals.
Jeremy Iannuzzelli, Senior Manager of Keshab Chartered Accountant discloses, “Accountants typically approach the decision-making process of clients based on the intention of the property, whether for development, capital growth or rental yield. They also help you understand the ramifications of buying a property, such as positive or negative gearing, cash flow, depreciation and tax thresholds… including other decisions that influence the bottom dollar from a cash and tax viewpoint.”
“Accountants should ideally understand the property goal before the client makes any purchases, which could be the difference between hundreds and thousands of dollars. While accountants formerly played reactive roles, they now play more proactive roles by asking the right questions to get the right results for the client. Accountants who are property investors themselves can offer first-hand experience to help clients avoid costly errors.”
Financial Planner
A financial planner examines your short and long term goals as a property investor and minimises your risks by ensuring you have the necessary asset protection in place.
Canna Campbell, Financial Planner of SugarMamma.TV reveals, “It is essential that you insure your ability to earn an income, especially if you have ambitions to build an investment portfolio. Without an income, you can’t service the cash flow shortfall from negative gearing and you certainly cannot save a deposit for the next property or try and create more equity by paying down debt.”
“Income protection helps create security. In case something happens to you from a medical perspective, an insurance company will pay up to 75% of your income until you are well enough to return to work. This helping hand means that you can stick to your financial goals while also maintaining your own living expenses and lifestyle when recovering.”
A trusted property investment team offers the advice and guidance you need to make sound decisions, and as a result, you’ll have a greater chance of long-term success as a property investor than if you attempt to do it on your own.