6 EXPERTS YOU NEED WHEN INVESTING IN PROPERTY
Property investing can be a very complex process for some. Those who enter the journey alone without help from appropriately qualified professionals to guide and assist them through the process may find it very challenging.
At Meridian Australia, we guide our clients through the entire process, ensuring they are well connected with the correct professionals to make the property investment process seamless.
The 6 Experts
1. Financial Planner.
One of the most crucial stages of the property investment process is to get clear on your goals and strategy. That can start with receiving assistance from an appropriately qualified financial planner.
Financial planners will work with you to develop a personalised strategy based on your individual needs and financial circumstances .
Financial planners can assist property investors with the following processes:
Saving for the deposit
Cash flow management strategies
Asset and income insurance
To find yourself an appropriately qualified Financial Planner visit the Financial Planning Association Of Australia (FPA) here.
Accountants provide services relating to financial reporting, taxation, auditing, cost management, and more .
Accountants can assist property investors with the following processes:
Tax return preparation
Assessing capital gains tax upon lodgement of tax return
Introduction of accounting systems
Examining operating income and expenses from the property
To find yourself an appropriately qualified Accountant visit Certified Practising Accountant (CPA) Australia here.
3. Mortgage Broker.
An expert mortgage broker can identify through all the available offers which lender is best for you when you come to financing your investment property. A good mortgage broker can save you a fortune in interest payments, charges, and of course your valuable time.
To find yourself an appropriately qualified Mortgage Broker visit the Mortgage and Finance Association of Australia (MFAA) here.
As property is such a significant asset it requires detailed documentation and contracts. Having an experienced solicitor, who specialises in property is crucial.
Contracts are very complicated and time-consuming. One wants to ensure there are no hidden nasties such as illegal building works, unclear plans, unresolved disputes, strata issues, or any unpaid requirements such as rates and land tax.
One would only ever proceed in the property transaction is the selected solicitor has carefully reviewed the contract with a fine-tooth comb and advise you that it is suitable to proceed with.
To find yourself an appropriately qualified Solicitor visit the Law Society here.
5. Property Investment Consultant.
The due diligence involved in locating and acquiring a sound investment property is detailed and lengthy. The average person would not have the time, nor experience to carry out the extensive research required.
Leaning on a property investment consultant who has had experience
The macro fundamentals that are included in the due diligence process include:
Supply and demand
Availability of credit
The micro fundamentals that are included in the due diligence process include:
Value for money
To find yourself an appropriately qualified Property Investment Consultant and to learn more about our service at Meridian Australia view here.
6. Property Manager.
The last expert you should have in your corner is a highly experienced property manager. They will ensure that you get the right type of tenant for your investment property.
A property manager is hired to look after one of your most important assets, your investment property, and should ensure their processes bring the best tenants forward. Having said that, they must be able to communicate well on behalf of both the investor and the tenants. Getting the balance right is difficult so using an excellent property manager is vital for all concerned parties.
To find yourself an experienced Property Manager consult with your Property Investment Consultant.
To stay up-to-date make sure you join our Property Market Pulse Newsletter here.
Warren Jacobs - Senior Property Investment Consultant at Meridian Australia
P: (02) 9939 3249
Disclaimer: When considering purchasing a property, it's always prudent to seek the advice of an appropriately qualified professional to determine which strategy is most appropriate for your individual circumstance.
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