Looking for advice

Discussion in 'Investment Strategy' started by Tobycbuck, 23rd Feb, 2016.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Tobycbuck

    Tobycbuck New Member

    Joined:
    3rd Jul, 2015
    Posts:
    3
    Location:
    Sydney
    I currently have 2 investment properties with about 1.3 million in equity and am looking for some advice on the best ways to expand my portfolio. I am 36 years old, married with two you children and my wife is currently not working. I would like to have a strong portfolio for a long term investment.
     
    Tobycbuck, 23rd Feb, 2016
    #1
    House and MTR like this.
  2. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

    Joined:
    12th Jul, 2015
    Posts:
    2,220
    Location:
    Melbourne, Australia
    Good evening @Tobycbuck

    The most sensible place to start would be a good mortgage broker who can determine the viability of using the equity in your properties to assist you in funding deposits etc on further properties. They could also advise on your likely spend limit for your proposed property purchases.
     
    JacM, 23rd Feb, 2016
    #2
    Sackie likes this.
  3. Steven Ryan

    Steven Ryan Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,656
    Well done. Quite a position to be in at a young age!

    1. Get clear on your goals. Expanding your portfolio is all good and well but what are you aiming to achieve?
    2. Chat to an investment-savvy broker (plenty on here) who can look at your situation in detail and give you an idea of what's possible and how you can chase down your goals.
    3. Learn as much as you can by reading through this forum and its predecessor, Somersoft.
    4. Go for it.

    :)
     
    Steven Ryan, 23rd Feb, 2016
    #3
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    42,001
    Location:
    Australia wide
    Char to a broker first but then get some advise on ownership strategies and tax strategies. Heaps of ways to maximize the investments while minimising tax.
     
    Terry_w, 23rd Feb, 2016
    #4
  5. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,059
    Location:
    Vaucluse, Sydney.
    @Tobycbuck well done on your building of equity so far mate. What I would do to move forward from here is:
    1. Talk to a good finance broker as @JacM has indicated
    2. Try to articulate in a little more detail what a " strong portfolio for long term investment" actually means for you.
    3. Write down some short, medium and long term investment goals.
    4. Choose a strategy and plan that reflects your goals, timeframes, risk appetite and own financial situation.
    5. Learn as much as you can.

    Good luck mate.
     
    Sackie, 23rd Feb, 2016
    #5
    JacM likes this.
  6. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

    Joined:
    31st May, 2016
    Posts:
    2,738
    Location:
    Australia
    @Tobycbuck

    Well done. Definitely talk to a savvy broker. As well as look at getting a property savvy accountant on your side. The team you build around you is important. Then comes strategy...followed by property.

    Property is merely a vehicle to access finance and hence leverage to gain best possible exposure to the market, within your given risk profile.
     
    Last edited by a moderator: 23rd Feb, 2016
    Property Twins, 23rd Feb, 2016
    #6
    JacM likes this.
Free Property Depreciation Calculator

Property Investors! Ready to Pay Less Tax? Estimate how much Property Depreciation you can claim on your Investment Property. Washington Brown's calculator is the first calculator to draw on real properties to determine an accurate estimate.