Visiting accountant tomorrow for 1st time re our first IP - what to ask?

[newlywed1311]

We have signed up to purchase our first IP in the same rural city that we currently live in. We have a mortgage broker acting on our behalf and are hoping we'll have unconditional approval by next week. Our mortgage broker suggested we seek financial advice regarding our purchase and intended portfolio development but I'm not sure exactly what questions I should be asking him.
These are my thoughts so far:
Seek an accountant who is an investor and has a good understanding of the tax breaks that come with owning an investment property. My understanding is this accountant fits the bill but I don't know how I find out more from him about his knowledge base. Anything I should be specifically asking him?
What name the property/title should go in - mine, my husbands or joint? Is this the same as tenants in common vs joint tenants decision?
What else should I be asking him?
Thanks.

 

[Qlds007]

Think you may have gone about it the wrong way around as their is no point in having finance pre-approval with one lender in one entity only to find that your Accountant suggests another.

Individual to Pty Ltd ATF Trust or similar has real implications on the choice of lender and product range.

Might have to get your MB to go back to the drawing board after your meeting.

 

[craigb]

If i had my time again the first question i would ask is "do you have rental properties" if the answar is "NO" i would leave the room, you wasting time and the time is better spent looking for an ac that has some properties?
Sounds odd ! but thats what i would do!

 

[Jas]

Craig makes a good point about their areas of expertise. Check that theirs and your ideas match. To my way of thinking, this is the start of a long term relationship. What I would be doing is talking to the accountant about my hopes and plans. What he should be doing is providing advice on teh best way to structure them. If you don't like that advice, explain why and see if they will offer other adive. If not, try somewhere else.