Mortgage broker or property investment advisor first?

Hi there,

Just needing some guidance from those with experience. I want to get a feel for how long it may take us to go from one property to two.
Would that be something we talk to the mortgage broker about in terms of how we'll structure the finance and what's possible given cashflow? Or would this be something an investment advisor would be more beneficial to speak to in order to first form a strategy around how to actually go from 1 to 2?
Any help greatly appreciated

 

That depends on how much equity/deposit you have and your borrowing capacity. Some people are capable of buying 2 at once or close together while others need to obtain further equity/deposit to buy their second.
Speak to an investment-savvy mortgage broker who can work through your borrowing potential and potential strategy. There are plenty on here who could help.
I met with someone a little while ago who has one investment property so far and we worked out the potential for her to buy 3 more in the recent future by replicating the type of property she already has.
i'm not sure what an investment advisor would do if they are not a broker other than telling you the financial benefits of investing?

 

Before you try to figure out where and what to buy, you probably need to understand what your budget it. Start with a mortgage broker.

I'm wondering what you mean by an 'investment advisor'?

 

Same ..

 

Any decent mortgage broker can show you how you go from 1 to 2 or more properties by mapping out a lending strategy & structure for you, don't get sucked in by the many property spruikers out there.

 

Show me any property adviser and guess what their recommendation says ? Never heard of one saying 'sell". They all recommend "buy mmore" and always just happen to be able to show you some (and make money one)

I would focus on your own views and seek credit advice on affordability and capacity to borrow and avoid asking someone which is "conflicted" the bleeding obvious. I will also guessthat they will just happen to suggest some property for you to consider at same time. That is how they make money. Tip : never get credit advice from a property adviser firm.

 

Oh they do say sell - but only when the client needs the freed up borrowing capacity to buy their recommendations

 

The property investment advisor can sell you a dream telling you you can do this and that and build an empire.

But first you need to understand your borrowing capacity through a few scenarios to see how far you can go.

 

I just like residential property. Commercial seems a little out of my reach/ realm when I think about it.

 

Thanks everyone for the replies. I had heard of property investment advisors, and thought perhaps they could bring some advantage, but after the overwhelming responses towards mortgage brokers being able to help me develop strategies through borrowing capacity, structure etc, I think my next step will be getting in contact with one I've wanted to chat to for a while. I just wasn't completely certain so thought I'd ask where I know people are experienced and have more knowledge.
Really appreciate the information

 

Not to say buyers agent and property advisors aren't useful.

But you have to first see how far you can go with how much you can borrow. There's no point talking about buying xx amount of properties when you can only get a loan for xx amount.

 

I'd steer well clear of any "advisor" selling properties - especially if they're off the plan.

Any decent broker can do some number crunching scenarios for you - and structure your loans correctly. I'd assume most brokers on here would also have experience in property investing.

Cheers

Jamie

 

Don't waste your money, just read up on here.

 

You dont want to outsource strategy.

 

Is there a license for being a property investment adviser ? No. Its unregulated. But may require a real estate license and many dont have them. The serious money is in kickbacks and fees from developers moving hard to sell property or off the plan problems.

Property investment advice is about 30 years behind that of financial advising and is a tank of sharks. There are some good names out there (still be wary) but many are preying on the vulnerable. They package loads of pretty charts based on flawed assumptions and everyone is a millionaire in X years.

 

Haha what are the odds, I actually sent an enquiry to your business