Comm Property Accountant..pls recommend

Bird Dog

Bird Dog

Afternoon all.
We're slowly but surely carving our path into the world of commercial property and I figure we should not only get the right advice throughout the journey, but more importantly ensure we set things up correctly EG: Unit or family trust, income & liability protection etc etc etc..

I'm therefore seeking recommendions for a good accountant in Melb who deals in Commercial Property as although I'm happy with our current advisor, she's nearing the limits of her expertise and I wish (if possible) to position ourselves with a specialist in this field.

Whilst I'm a great advocate of paying for a good accountant as I feel they can pay for themselves many times over, I do also need to be aware of initial cost's as we would like to invest as much in direct comm property as possible so also let me know if those who you recommend are reasonable with their fee's.

NB: We're in Melb..

Can anyone comment on these:
Sothertons:
http://www.real-estate-accounting.com.au/

Goldpats
http://www.goldpats.com/services.php
 
2 x days, 64 views and not a single reply.... are comm accountants that unique..:eek:

Surely someone knows someone we can talk to...
 
Bird Dog said:
Whilst I'm a great advocate of paying for a good accountant as I feel they can pay for themselves many times over, I do also need to be aware of initial cost's as we would like to invest as much in direct comm property as possible so also let me know if those who you recommend are reasonable with their fee's.
Click to expand...

I will never, for the rest of my life, understand people who have the mentality that while they acknowledge that they require specialist advice, they don't want to pay for it. You don't want to pay for it, then stick with your current accountant.
 
Macca said:
Hi Birddog,

Try a post in the accounting section, hopefully you can get a suggestion there.
Click to expand...

Thanks Macca, will do now.

BV said:
Your title is suggesting this.
What's wrong with your current accountant?
IMO an accountant doing tax returns with residential properties would be able to do commercial IPs as well.
Click to expand...

Good point B.V. We've had our accountant for several years before we got involved in property and to be honest, although she is good, she was never a specialist and I'm finding she is now a little out of her depth.
Great at the basic stuff but now things are getting a little more complex, I'm finding I'm leading her more than the other way round.

Mark Laszczuk said:
I will never, for the rest of my life, understand people who have the mentality that while they acknowledge that they require specialist advice, they don't want to pay for it. You don't want to pay for it, then stick with your current accountant.
Click to expand...

Perhaps I should have a been a little clearer with my question Mark.
The term I used however was "reasonable" and not "free"
I have several friends who work for various accounting firms (incl the big 4) who have confessed to me that whilst their time is billed out at at $400 - $600 per hour, a lot of their work is completed by the lackey's just out of uni so I'm loath to paying premium rates for the apprentice.
Can I also add that if I was really concerned about "paying" for good service, I would simply go to one of my professional friends in the industry for "mates rates" or even better, have my mother do my books (I come from a family of accountants).
Perhaps I should have asked for those people who see "positive value" in the advice they receive from their accountants around Commercial Property.
EG: "Have you thought of X strategy as the Govt is considering changing the legislation and it could position you well for the future?

cheers
B.D
 
So go and see some wet behind the ears kid straight out of Uni and see how 'good' the advice is! I prefer using professionals who know what they are doing (not just accountants) than try to save a couple of bucks.

The money they can make for you over the long term, if you pick the right advisers will eclipse the amount you pay them. But hey, if paying 'reasonable' fees is more important to you, then I wish you all the best getting your 'reasonable' advice.
 
Mark Laszczuk said:
So go and see some wet behind the ears kid straight out of Uni and see how 'good' the advice is! I prefer using professionals who know what they are doing (not just accountants) than try to save a couple of bucks.

The money they can make for you over the long term, if you pick the right advisers will eclipse the amount you pay them. But hey, if paying 'reasonable' fees is more important to you, then I wish you all the best getting your 'reasonable' advice.
Click to expand...

So by your summary Mark, anyone charging "reasonable" rates must therefore be some wet behind the ears kid straight out of Uni... or do I have that wrong also....

No one here is doubting the merit's of how good advice can lead to long term profitability but what I do object to is exorbitant rates solely based on the size of the firm. The main objective of the post (in case you missed it) was to ask for professional recommendations from like minded associates..
Not, "do you know any cheap, snot nosed kid straight out of uni"

BTW, are the fee's you charge your clients reasonable or unreasonable?

cheers
B.D
 
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