Just starting out – looking for good accountant and/or property investment advisor

Well, that was about %80 of the property expo in Sydney on the weekend. To be expected i guess.

Thanks for the tip.

Nice and close as well, i'll add this to my list to check out.

 

Thanks everyone for all your help and suggestions. (I didn't actually realise anyone had replied until this morning - I thought I'd get email notifications when people did, but, that didn't happen).

I'm intentionally trying to avoid these 'advisors' who are just wanting to sell developers properties.
Initially, I started out with a web search and looking at companies advertised in investment magazines, but, once you start really drilling down into what they do was finding that they were not what I was after. Some, as mentioned above, just want to push developers properties. Others seem a little obsessed with getting you into SMSF.

As it was taking forever to go through all these companies proclaiming to be advisors, I thought I'd turn to the forums for some advice and recommendations.

I might be using the wrong terminology, or even looking for the wrong kind of professional.
We know where we are current at financially and we know where we want to be.

Basically what I'm after is someone who can sit with us and work out what we can/need to do to get there. I'm happy to pay for this service - just looking for the right professional(s) to provide it.

 

Stick around this forum, you will find alot of what you are looking for.

When I first started, I messaged quite a few forumites and caught up with them for coffees. Learnt alot more during those catchups than with the so called 'experts.'

Cheers,
Michael

 

It is not the title of the person that counts - a mortgage broker or an accountant could be the one to assist. You need to seek the person rather than the occupation. just today I met an old friend who is both a buyers agent and does property plans for investors, like financial plans but for property, but searching you would never know.

i think it is a work of mouth sort of thing.

And Michael is right - the forum is the best place.

 

Hi everyone

I'm also starting out and was wondering if it would be worthwhile for me to use an accountant:

Up to now I've been doing my own tax return using e-tax mainly because my finances are fairly straight forward - I don't have investments of any kind and my only source of income is from my job. I've had a look at the Rental Property section of e-tax and to me it doesn't seem too complicated. If I were to buy an investment property what real benefits would there be for me to use an accountant over doing it myself?

sorry for the newbie question

 

Depreciation. Even if you have a schedule, it's not that easy to DIY, and if you don't know what depreciation is, hopefully your accountant would clue you in. Sometimes you don't know what you don't know.

 

A tax agent is what is needed - they may also be an accountant.

A tax agent can give you advice along the way. Whether interest is deductible, how to claim repairs - upfront or depreciated, what records to keep etc etc. They may even find more tax savings than their fees. which would be low anyway.

 

Hi Jess, Terry

Thanks for the pointers.

Will search for and read up on depreciation schedules here on this and the old Somersoft forums

 

Tables have turned now and we all messaging you for coffees

 

@Terry_w Yes, my parcel / package courier in the office also give me some advice in the Investing tips back then in 2012-2013 and I regret that I don't take it back then.

He was suggesting the following are based on his area of delivery:
Parramatta, Harris Park and Wentworthville

Now he's suggesting to buy in Brisbane area

 

Lol!

 

Parcel package courier? That's better than a taxi driver right?

 

yeah at least he goes into the building and knows some apartment layout in those area

 

That's true....

 

I will find out and come back to you.

 

Maybe it's that one. I can't recall. I Have a local contact and I know there is at least one other in Melbourne. I will find out where you can locate them and come back.

 

It's Ok Lisa, someone kind've answered it above.

 

Hey all, just following this old thread and wondering if what are the good accountants in the market atm. I am planning to buy my first IP and planning to build a dual occupancy, so would need someone to save my tax using IP, minimise my interest , depreciation etc . Also, not sure how accountants charge money, will it be per transaction or one off fee? I am sydney based. Also, not sure if same person can arrange convenceyor etc or not.

 

@Paul@PFI, an acountant, is a regular on the forum and a good bloke. Hit him up.
As Y-Man said use a lawyer/conveyancer for the conveyancing needs