need advisor

[localinvestor]

Hey there, im new to investing and have found this site incredible thanks to all of you!! i am in the middle of reading Michael Yardney's book and am excited to get into the market now that i have equity in my home and a large inheritance comeing soon.
My questions is....can anyone please advise me as to how to find a good financial advisor in South South East Melbourne, or is it better to be Mentored by Michael himself?? i am just worried about price?? any advice would be much appreicated.

Thanks

 

[Twitch]

My advice would be to read a few more books (a Jan Somers one, a Peter Spann one and for balance, a Lomas or McKnight one) and then reassess your need for an advisor. Please don't use an advisor to try and shortcut your own property investment education.

I'm firmly of the opinion that you are your own best advisor as only you know your SANF (sleep at night factor), your true cash flow situation, your goals and your limitations. Most importantly, you are the only person that truely cares about your investment success. It is you that has to live with an investment once made, so you must know intimately why you made it. If you hand this to an advisor you may do what most other property investors do and that's walk away when it gets a bit hard or doubts creep in.


Stick around, read a bit more, ask lots of questions here and then act. Good luck

 

[D.T.]

... please advise me as to how to find a good financial advisor in South South East Melbourne, or is it better to be Mentored... /QUOTE]

Hi and Welcome.

Take MDK's advice and check a couple of other books. Read some current and old stuff on this forum and you'll be set to go. Regularly talking to likeminded people at local forum meets or through someone you know already could be very handy.

Investing isnt really as hard as most people make out, it's just made to seem that way so that everyone won't do it. Cuz then the government wont earn any income taxes. Though will earn motza's of stampduty?

I think you're better off finding a great accountant, great mortgage broker and great quantity surveyor as they'll give you a lot more value than a 'paid guru' ever could.

 

[localinvestor]

good advice

thanks for that, the more i look into it the more i think you are right! any chance of refering me good broker and the rest in SE melb?

 

[The Y-man]

thanks for that, the more i look into it the more i think you are right! any chance of refering me good broker and the rest in SE melb?

Come to a meeting of Melbourne Forumites! We meet on the last Wednesday of every month (unless it was like this month! )

Keep an eye out on the "meeting point" posts.

Cheers,

The Y-man

 

[localinvestor]

i'll be there, would be great to make friends and contacts in the investment game!!

 

[geoffw]

thanks for that, the more i look into it the more i think you are right! any chance of refering me good broker and the rest in SE melb?

LI

You're new to the forum- welcome.

But I would strongly suggest that you do not restrict your search for good professionals to a small area of Melbourne. There are some excellent mortgage brokers in Melbourne (I'm not sure what parts)- and there are others elsewhere. There are excellent accountants and other professionals. It's really quite easy now to deal remotely. Accountants and MBs in this forum have clients all over Australia, and in manyt parts of the world.

Michael Yardney has excellent knowledge of his areas of specialty in Melbourne- but he is not a mortgage broker, accountant, lawyer or financial advisor. He does suggest that you build your own team of professionals. (Of course, if you wanted to buy or develop in his area of expertise, then he could help you).

 

[The Y-man]

. There are some excellent mortgage brokers in Melbourne... .

Cue: PT Bear, Kristine, Rolf S (to name a few) ..........

Cheers,

The Y-man

 

[caramellokoala]

Hi there

I can highly recommend Katrina Gay from Nicholson Financial Planning. We have used her for approx 4 years now and she is fantastic. She also practices what she preaches. Her details are:
Phone: 03 9387 7505
Fax: 03 9445 9358
Mobile: 0411 099 051
99 Stewart Street, Brunswick VIC 3056

My motto is you don't need to know it all yourself you just need to surround yourself with experts and Katrina is certainly an expert in her field.

Cheers

CK

 

[Lyne]

thanks for that, the more i look into it the more i think you are right! any chance of refering me good broker and the rest in SE melb?

localinvestor,

We've just bougth our first investment property a little over a month ago and are in the financing process with a broker and I am regretting every minute of it. I am extremely disappointed and will source my own finance next time.

I am not going to name the person so don't ask this is not why I'm posting this reply, I just want to make you aware of our experience. Beleive me, I wish I had better words to report as this is an unpleasant situation. We are learning the hard way.

We are also re-financing our PPOR with that person so we're talking about 580k worth with the loans here.

I will start another thread when it's all over with the details of this situation (without names) for you all to give us your opinion on how things went.

I debated for the last three days if I should mentioned this and decided at the risk of not being popular to do so as this IS our experience.

Good Luck

 

[ani]

localinvestor,

We've just bougth our first investment property a little over a month ago and are in the financing process with one of the well recommended broker on this forum and I am regretting every minute of it. I am extremely disappointed and will source my own finance next time.

I am not going to name the person so don't ask this is not why I'm posting this reply, I just want to make you aware of our experience. Beleive me, I wish I had better words to report as this is an unpleasant situation. We are learning the hard way.

We are also re-financing our PPOR with that person so we're talking about 580k worth with the loans here.

I will start another thread when it's all over with the details of this situation (without names) for you all to give us your opinion on how things went.

I debated for the last three days if I should mentioned this and decided at the risk of not being popular to do so as this IS our experience.

Good Luck

Hi Lyne

I hope you have addressed your issues with the broker concerned and let them know about this thread so they have a right of reply.

Otherwise all Melbourne brokers are guilty until proven otherwise

And I hope it all works out for you

 

[Lyne]

I never said it was a Melbourne broker

 

[ani]

I never said it was a Melbourne broker

True!

Sorry I assumed there

 

[Lyne]

Few phone calls later.........

Things are starting to look brighter and better, I think we'll both learn from this experience. I know I will. I feel alot more positive/comfortable about the situation.