Accountant / Advisor - Sydney

W

Wazza007

Hi

Has anyone used an accountant/advisor who specialises in property /investment structuring in the Eastern Suburbs or City they would recommend? (plus with an idea of Fees?)

I thought i had my structuring sorted out but now I am so confused due to the conflicting advice I have been given - some proffesional some not.

I am in the final stage of closing on a Commercial property ( waiting on Valuation) and I would also like to buy a residential property within the next month or so. The Commercial is positive cashflow but the residential will probably be negative or at best neutral.
 
Best wishes on your Commercial IP purchase, Wazza007,

One thought about any proposed structuring is the ownership of the impending purchase. If a trust structure for example is to be considered then it may be prudent to set up the structure prior to finalising the contract. Transferring ownership into any separate entity is almost certainly going to trigger stamp duty considerations.

Disclosure: I have been very happy with NickM's (Strategic W) services.

regards,

Kenny
 
I am also one of NickM's (smaller) clients and am pleased to have found myself such a good adviser and have no hesitation in recommending him to others.

MB
 
Thanks for the responses, the web site for Strategic wealth management looks very good and its good to hear you guys have used their services.

Im a little worried about fee's to do this because Ive commited everything to the fees and charges about to hit me. But as you said Kenny I need to structure it correctly from the outset or else I'll end up paying in the long term.

I'll let you know how I go.
 
I also use Nick from SWM.

A company trustee + hybrid trust cost about $2600.

Trust is only 2 months old, haven't called upon Nick for any advice yet.
 
Strategic Wealth - UK too?

Thanks for the tip on Strategic Wealth - i'm looking for a tax accountant and advisor with UK/Aust knowledge also.

Does anyone use Strategic Wealth or can they recommend a better alternative?

Thanks in advance!!

:)
 
Hi

For what it is worth, Nick is one of the best accountants in the country and you will struggle to get better advice from anywhere. Moreover, he regularly makes fantastic contributions to this forum to the benefit of all of us.

He is a top bloke and I can highly recommend him to you.

Dale
 
Thanks to everyone for the replies,

and a huge thankyou to DaleG for spending so much time answering my questions, I was really impressed how much information you freely gave to me you are truely a legend!

I have probably missed a great chance to set my 1st property up a in a trust because my paper work has already gone through. I wish I had done more research before I moved forward with finance etc but I know what to do for the next one. I hope this helps anyone who is new like me.

Note to self talk to DaleG / NickM about Financial Structure before organising finance!
 
Dear All

As somone who has recently approached Strategic Wealth Management for structuring advice and subsequently pursued setting up a Trust & Company structure on the basis of discussing my situation, I can also recommend Strategic Wealth and dealing with Nick M, Karen & the team.

So far, the service has been exemplorary, with everything occurring very quickly (ie Trust set-up within a day of deciding) which was great as I had a deadline I was working to. Nick was very knowledgable and clearly has the personal skills as well in order to get complex key messages across. I have been very satisfied with the way things have gone so far.

The cost to set-up the Trust & Company was $2600 (or less depending on what type of trust you are setting up). I understand that a Basic Tax Return can be provided for $275 and Basic Tax Return + 1 Investment property $385. Each additional individual property is $75 to $110 depending on depreciation requirements. Individual consultations are $220. All this is based on the current price schedule but you can probably get a more accurate idea from contacting strategic wealth directly www.strategicwealth.com.au

Wazza007, you mentioned in one of your earlier posts you were concerned about the fees a bit. Whilst fees I agree are important, I wouldn't consider them of primary importance. Nick's fee's are competitive however I am sure there are cheaper around. I believe it is probably going to be more important long term to go with an advisor and tax consultant who understands complex investing and accounting and I believe Nick or importantly Strategic Wealth fit this bill. I have interviewed quite a few accountants over the past couple of years and have not felt the same way about all accountants.

Hope this is of some use.

Kind regards

Corsa
 
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