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Know of any good Financial Advisors?

Discussion in 'Financial Planning' started by holtk5, 31st Jul, 2007.

  1. holtk5

    holtk5 Member

    Joined:
    29th Jul, 2007
    Posts:
    9
    Location:
    Melbourne, Vic
    Looking for a financial advisor in the outer eastern suburbs of melbourne. Have not used one before and all iv'e heard is bad things!! Any good recommendations? Thanks
     
  2. Simon

    Simon Well-Known Member

    Joined:
    17th Sep, 2005
    Posts:
    520
    Location:
    Newcastle
    What do you want a planner to do for you?
     
  3. holtk5

    holtk5 Member

    Joined:
    29th Jul, 2007
    Posts:
    9
    Location:
    Melbourne, Vic
    Hi Simon

    Once we have brought our first PPOR at the end of this year, i would like to know what would be the next best step to take in terms of buying our first IP. When will be the best time, how much equity will we need before we can do it etc.
     
  4. Simon

    Simon Well-Known Member

    Joined:
    17th Sep, 2005
    Posts:
    520
    Location:
    Newcastle
    I bet we can help you here with that. Ask away.

    Few FP's will happily help you into a property as they are rarely geared to be able to accept comissions from this sector of the investment market - unless they get kickbacks from developers.

    Basically you will follow the same steps as for buying your home except instead of a deposit you can use any equity built up in your home. In fact don't save a deposit. Pay it into your home loan or an offset account then borrow 105% of the new IP cost to fund it. This way you will have a higher deductible loan and lower nondeductible loan.

    As for timeframes - we need figures to suggest anything.

    Does this help?

    Cheers,
     
  5. holtk5

    holtk5 Member

    Joined:
    29th Jul, 2007
    Posts:
    9
    Location:
    Melbourne, Vic
    Thanks. Yeah does help. I might just come here if i need a question answered. Save money on planner fees! :D
    When did you begin investing Simon?
     
  6. voigtstr

    voigtstr Well-Known Member

    Joined:
    24th Jan, 2007
    Posts:
    679
    Location:
    Hobart
    Navra Financial Services consider direct property.

    Cheers
    Simon (yes there are lots of Simon's on this forum)