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An accountant, a mortgage broker...and a financial advisor?

Discussion in 'General Property Chat' started by Marco Bon, 23rd Aug, 2016.

  1. Marco Bon

    Marco Bon Active Member

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    Hi all,

    As many of you know, my goal is to build a passive income that will be enough to move back to Italy.

    I have started to listening to podcasts and I have recently started shopping around to find an accountant. I know that in my pocket I need a great mortgage broker as well, but the question is whether or not a financial advisor would be useful or not.

    I am expecting different answers as it is a very subjective question, on top of which I would like to ask whether instead or in addition I should seek a 'property investment advisor' such as 'Empower Wealth' by Ben Kingsley?

    I look forward to read your posts and as usual I hope you are all well!

    Ciao for now,
    MB

    ps. I have already found a financial advisor (recommended by a friend), I am waiting to see your responses before setting an appointment ;)
     
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    TerryW that posts great material here covers all your needs in your subject line

    ta

    rolf
     
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  3. S0805

    S0805 Well-Known Member

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    +1 for TerryW.
     
  4. srirang

    srirang Well-Known Member

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    In my opinion, it depends on how disciplined you are with your finances and how financially educated you are.

    You can probably learn everything you'll learn from a financial advisor and then some from the forum. Lots of experienced people here to learn from.
    I have met and would highly recommend Peter Tersteeg from Sage Lending who's also on the forum.

    Don't have any experience with that outfit.

    Personally I've gotten more out of the forum than all the seminars/conferences I've attended.
     
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  5. albanga

    albanga Well-Known Member

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    @Terry_w would have to be IMO the most well respected member of these forums. The amount of time and invaluable information he gives for free is truly astounding!
    Think about what he could do for you if you actually paid him :D
     
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  6. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    I used to be a financial advisor but i have given up my licence as it was costing me about $20k pa and i found that client clients who saidnthey wanted financial advice were actually after legal and tax advice thinking this was financial advice.

    Marco what sort of advice are you looking for?
     
  7. wombat777

    wombat777 Well-Known Member Premium Member

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    <offtopic>
    An accountant, a mortgage broker and a financial adviser walked into a pub ... so what are the punch lines?
    </offtopic>
     
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  8. wogitalia

    wogitalia Well-Known Member

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    I was hoping for a walked into a bar joke from the title!
     
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  9. Marco Bon

    Marco Bon Active Member

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    Hi Rolf Latham, albanga and S0805..which post are you guys talking about? Sorry Terry_w but it seems I having issues in viewing what it must have been your first post (Which I would love to read). In regards to your second post I have a precise goal in my mind and what to achieve it within 5-7years, hence I believe that a professional would be very helpful to get me there, on the other hand I am aware of risks involved in dealing with the 'wrong' people.

    Hope you are all well and thank you for your responses, I hope to be able to read Terry's wise post eventually..

    Ciao,
    MB
     
  10. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Hi MB - not sure which post of mine you are unable to read.

    For what you are after a mortgage broker could probably assist in planning out how much you could borrow, when, and even work out how many properties you need to own to generate an income of X. This is not financial advice but partially credit advice and partially general advice for which no licence is needed. But Empower wealth do written plans about this sort of thing and may be worth looking at.

    Then see a lawyer about how to own the properties, what name(s) etc. This can be incorporated into the borrowing plan to maximise the ability to borrow.
     
  11. Marco Bon

    Marco Bon Active Member

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    Hi Terry_w,
    Thank you for your post, I will look into your recommendations. Just to clarify, in this thread I can see 2 posts of yours:

    1) I used to be a financial advisor but i have given up my licence as it was costing me about $20k pa and i found that client clients who saidnthey wanted financial advice were actually after legal and tax advice thinking this was financial advice.

    Marco what sort of advice are you looking for?

    2) Hi MB - not sure which post of mine you are unable to read.

    For what you are after a mortgage broker could probably assist in planning out how much you could borrow, when, and even work out how many properties you need to own to generate an income of X. This is not financial advice but partially credit advice and partially general advice for which no licence is needed. But Empower wealth do written plans about this sort of thing and may be worth looking at.

    Then see a lawyer about how to own the properties, what name(s) etc. This can be incorporated into the borrowing plan to maximise the ability to borrow.


    Based on other users, there should be an earlier post, which (for some odd reasons) I cannot view. If you can see it could you kindly copy and paste it in a new post? If not no worries, it's not a big deal.

    I hope you are well and wish you a great day!

    Ciao,
    MB
     
  12. York

    York Finance Broker Business Member

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    I think there is some confusion here. The reference being made to @Terry_w isn't a specific post in this thread. It's a reference to his tips that he writes on a regular basis for the benefit of the members here. Below I have posted links to these tips for you to have a read through. They cover the areas of tax, entity structuring/law and and also general loan structures relating to property.

    www.propertychat.com.au/community/threads/terrys-tax-tips.3010/

    Terryw's legal Tips Index

    Terryw’s Ideal Loan Structure
     
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  13. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Thats is - what York said.
     
  14. Marco Bon

    Marco Bon Active Member

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    I am really sorry Terry_w, I am new and couldn't understand... Thank you York for solving my dilemma!! I will read those links asap :)
     
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