Accontants

Hi

my husband and I are looking into purchasing our first investment property. the process of sourcing "genunine" information rather than a sales pitch has been a struggle so far, but this forum seems to provide quite a range of views and opinions.

Speaking to an accountant before buying the property is something that appears to be quite important, so i would like to ask whether anyone could suggest a good accountant. we are located in the Camden area of NSW, but would be willing to travel if need be. or maybe you guys could provide some qualities i should look for to find an excellent accountant!

Thanks before hand!
 
Hi there

Welcome to the forum and congrats on your first post.

Depending on your circumstances it may well be wise to speak to an accountant before buying your first investment property. There are several key questions such as whether to buy in your name, husband's name, jointly or through a trust. Getting the right loan is also very important, for example an offset account or interest only mortgage is generally more beneficial, but depends on your circumstances.

You don't necessarily have to use an accountant in your neighbourhood, there are several accountants on this forum who are based in the capital cities, but who specialise in dealing with property clients nationally.

In terms of what to ask the accountant, you may want to ask:
how many of their clients hold investment properties;
how many of those clients hold multiple investment properties;
Does the accountant him/herself own any investment properties;

Unless you're rushing out to buy an investment property, and you'd always be wise not to rush into such a big decision, I'd suggest that you spend as much time as possible reading through this forum, particularly the accounting & tax, property finance and where to buy sections. An hour a night for 2 weeks reading this forum will give you a substantial amount of knowledge, from very impartial people - virtually nobody on these forums is trying to sell you anything.

Good luck in your adventures!

Cheers
Jonathon
 
Thanks Jonathon

I will take your advice and through as much as i can form this site. What I've read so far has been quite helpful. I am trying to set up appointments with a few accountants and I will be going to the meeting armed with questions! so far they are all in the city though and they won't discuss anything over the phone which is a bit of a drawback, but hopefully it will be worth while!

Thanks again for you help!
 
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