VIC Financial/Investment Adviser Recommendation - Melbourne

Discussion in 'Where to Buy' started by ItsMe1985, 28th May, 2019.

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  1. ItsMe1985

    ItsMe1985 Member

    Joined:
    13th Aug, 2016
    Posts:
    14
    Location:
    Melbourne
    Hi all,
    We are a couple in mid-30s with yearly income of $300k/year. We are paying too much in tax, have 1 PPOR with 80% loan on fixed rate, no other investments, HELP loan of 55k.
    We have been travelling a lot so never really gave much thought to investment.

    Now starting a family and looking to get some financial advice such as managing our money, diversifying investments, paying off HELP loan (or not) etc.
    I would be grateful if someone can point me to a financial adviser or even a mortgage broker who is interested in a long term relationship as we concentrate on building a property investment portfolio.

    Any recommendations?
     
  2. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,977
    Location:
    Canberra, Brisbane and Sunshine Coast
    That's a sweet problem to have :)

    I can't recommend a particular planner in Melb - but there's plenty of brokers from Melb on the forum. Have a read of some of their posts and get a feel for who you think you'd work well with.

    What are your plans with the PPOR? Is it a "forever" type home or could it become an investment down the track? If it's a forever home then smashing the mortgage could be a good start. However - if the loan is all fixed you'll likely be restricted when it comes to making extra repayments.

    Cheers

    Jamie
     
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,599
    Location:
    Gold Coast (Australia Wide)
    Sounds like you might benefit a lot from an active debt recycling strategy, but an all fixed rate loan is probably not the best fit for something like that

    geography is rarely the best predictor of performance for an adviser

    ta
    rolf
     
  4. ItsMe1985

    ItsMe1985 Member

    Joined:
    13th Aug, 2016
    Posts:
    14
    Location:
    Melbourne
    Thank you both, my PPOR loan is fixed until the end of this year and breaking it will only cost me about 1k so I don't see that as a big problem.
    Good point, let me take a sneak peek at some of the active profiles/content before approaching for further chat.

    Jamie, no, our PPOR is not a forever home, although we haven't made a decision on when we would move out, maybe in the next 3-4 years.
     
  5. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
    18th Jun, 2015
    Posts:
    3,977
    Location:
    Canberra, Brisbane and Sunshine Coast
    Will it become an investment? If so - it’s a good idea to preserve the principal so you’ll have some interest to claim when it becomes an IP. A variable loan with linked offset could work well - instead of smashing the loan principal you can place extra repayments into the offset.

    Please seek pro advice from an accountant re the above though. I’m not a bean counter so not allowed to advise on taxation stuff.

    Cheers

    Jamie
     
    ItsMe1985 likes this.
  6. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,673
    Location:
    Perth WA + Buderim Qld
    Hello, and welcome to the forums!

    We've just released a free online money management course that you're welcome to check out - it's in my signature below.

    It's a good start to help you become more mindful about your money and really nut out your goals. There's the budgeting side which you may or may not need, but also a lot of goal setting and behavioural finance/psychology stuff so a lot more interesting than just trying to cram yourself into a budget. ;)
     

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