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Property expert

An independent property expert – why wouldn’t you use one when buying property ?

Using a Property Expert makes sense

We thought it would be useful to discuss the advantages of paying for good advice and using a property expert. This doesn’t just refer to our good selves of course, (and you could be forgiven for noticing a vested interest here) but to all manner of professional services out there who can help prevent you from making costly mistakes.

There is no getting around the fact that you will need to pay to get quality, independent advice from a property expert. Why would you try and skimp and save when it comes to making these enormous decisions in life? We have never understood this, but then we have that vested interest, don’t we ?

Using a Property Expert is worth it

To us, it’s obvious, if you have a health issue then you go the doctor or the specialist and you get it sorted, right? You pay for this. You don’t ask your mate at the next BBQ for their opinion and stick with that? If you’re building a house you get an architect to draw your plans, a builder to construct, you don’t get out pen and paper and start drawing and laying bricks yourself … right?

So why is it that so many investors are reluctant to spend money to get genuinely independent advice on how and where to invest substantial amounts of money? Where does this reluctance come from? So many investors seem quite happy to invest hundreds of thousands of dollars in assets that are intended to secure their financial freedom one day – and yet they won’t pay for qualified, independent advice to get them there. They assume that what their aforementioned “mate” at the BBQ bought will also do for them. Why would anyone take such a huge risk?

It is imperative to remember that not all property was created equal

You can get it horribly wrong.

You can’t simply assume that just any property in any area will work, grow, perform well and give you a good enough cash flow for your circumstances. It takes skill, research, and know how and a careful assessment of your goals and risk profile to establish what is right for you and which capital growth area suits you.

So who do you use? Someone who has dedicated themselves to the Industry, and understand the trade from end to end. An experienced Property expert. But there are also pitfalls here … Not everyone who calls themselves a property “expert” actually IS one. So how do you tell the difference between someone who actually cares about you and your future and is genuinely qualified to give you advice (like all the team at Adviseable) and someone who is not qualified, has only been in the industry for 5 minutes or someone who’s just out to sell you a property and earn tens of thousands in commissions from that sale ?

Inexplicably, the property investment industry remains unregulated by ASIC

Anyone can “sell” you property and call it advice.
IT IS NOT !! Sales is NOT advice. It is SALES.

It’s critical to recognise the difference. Anyone offering you, marketing, selling you property or developments is in sales. They are not independent and it is not advice. It is sales.

Always question this “adviser’s” motives and the fees they receive, and from whom. We do encourage you to pay for an independent and qualified property expert who does actually care about your goals and knows how to establish what assets suit you.

Equally there are many licensed Buyer’s Agents out there, yet whilst licensed in the sense of real estate, they are NOT qualified to give investment advice. They may be quite skilled in securing a property in a given area, but that does not mean they know what a good investment is, how to calculate your cash flow, or whether that particular property investment is appropriate for you. And believe me, we’ve come across many of these so-called Buyer’s Agents and advisers who have not the first clue how to calculate your cash flow and have no interest in doing so, they won’t care what the property is going to cost you to hold. But no one stops them buying an investment property for someone. How is this allowed to continue ?

Make sure that anyone you use to help you has the qualifications and experience to assess you and your risk profile and can get you what you need. Many Buyer’s Agents also only operate within one given area, their own backyard, they will not be able to give you a choice, and recommend other much better suburbs and areas to you, that might suit you better. They are only ever going to offer you properties in that particular area.

The Financial Planner

So important when considering your future holistically. NEVER be reluctant to pay for good financial planning advice from an independent adviser who has your best interests at heart and can help you put in place a road-map to financial security. Not someone who simply wants to sell you the latest managed fund that they earn a huge commission on, but a fee for service, truly independent financial planner.

The Accountant

A good accountant who is experienced with property investments, deductions, loan structures etc will be worth their weight in gold. They will easily save you any fee that they charge you by keeping you compliant and finding you the most deductions. Not only that but a good accountant is important when it comes to forward tax planning, discussing ownership structures etc. Consult them BEFORE you make a purchase so that they can best advise you. Run away fast from any accountant trying to sell you properties that they get a kickback on.

The Conveyancer / Solicitor

Paying for an experienced solicitor or conveyancer who is efficient and communicative and who can help represent you to the other party and advise you is also imperative. Time and again we have seen people trying to save a couple of hundred dollars and using an inferior service, only to be stung during the purchase process or at the end with missed settlement dates and penalty interest fees, or some other costly issue.

The Mortgage Broker

And while you technically don’t pay for their services, don’t forget the importance of a good, independent finance broker. We can’t overstate their importance when it comes to arranging your loans for you. Because of this, they will soon get their very own mention where we go into this in more detail.

Our conclusion is that if you’re considering buying Property – you’d have to be mad not to engage a professional property expert.

If you would like someone on your side, batting in your corner, operating only for your benefit, then give us a call on 1300 077 766 or email info@adviseable.com.au
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