Template for scenario assessment

Discussion in 'Loans & Mortgage Brokers' started by Sam_rwd, 19th Apr, 2020.

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  1. Sam_rwd

    Sam_rwd Member

    Joined:
    18th Aug, 2019
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    Location:
    Sydney
    Hi All,

    Is there a template that exists for assessing the financial position associated with different scenarios. I realise this can be very complex but I am looking to structure my thoughts properly. I am going round in circles a bit. We have the following scenarios in mind:

    1. Buy an investment property and just stay in our current PPOR
    2. Upgrade PPOR and put current PPOR on rent (turn into an investment property)
    3. Change nothing for PPOR and change a positively geared property into a negatively geared property
    4. etc...

    OR should I just seek advice from an accountant (and or someone else?) to do some number crunching for me and assist with this? Someone a lot more experienced than I am.

    Thanks in advance...
     
    Sam_rwd, 19th Apr, 2020
    #1
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Good broker and tax advice to do the modelling

    Get off the carousel, goz it just goes faster till one gets unwell :)

    ta
    rolf
     
    Rolf Latham, 20th Apr, 2020
    #2
    Lindsay_W likes this.
  3. Sam_rwd

    Sam_rwd Member

    Joined:
    18th Aug, 2019
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    Location:
    Sydney
    Thanks Rolf. I agree.

    Does this mean that I need to get two different people to work together? The challenge is that I am looking for a broker and also an accountant. My current accountant strongly feels I should not invest in property (he has interests in other managed funds which he is recommending) - so this doesn't match my requirements. Is this a service that you and/or your team offers? I would really appreciate some recommendations. Thanks again.
     
    Sam_rwd, 20th Apr, 2020
    #3
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
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    Location:
    Gold Coast (Australia Wide)
    The accountants we recommend to our clients dont have that conflict of interest, and they are usually into IP themselves as well. Makes for a good marriage.

    Similarly our financial planning arm is client centric, vs product centric

    ta

    rolf
     
    Rolf Latham, 20th Apr, 2020
    #4
  5. Morgs

    Morgs Well-Known Member Business Member

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    A decent broker should be able to help you with a framework on this and defer on the specific tax advice.
     
    Morgs, 20th Apr, 2020
    #5