Who You Need On Your Property Investment Team

A key factor in setting up your ideal portfolio of investment properties is the people you are working with. In particular, if you are a first time property investor, you want to surround yourself with top experts, who will help you achieve your investment goals.

You may wonder, in the property investment and management industry, who are the major players you need on your team? There is no one person who’s fully qualified to guide you through the marketplace, but there are specific specialists who can make you feel supported.

When selecting each of these professionals, they may have opposing opinions on each other’s area of expertise. However, differing views can widen your own perspective, give you options and help you hone your own investment skills and instincts.

On another note, be sure your team members do not have any conflicts of interests in the advisory work they do. You want to be able to bring them together and work to your best interests in building a portfolio that reflects your investment goals.

Property Investment Adviser

Seek out a QPIA or Qualified Property Investment Adviser. This is the first professional you want to speak to. They can help you develop a property wealth plan, which can increase your wealth accumulation capabilities and plan for your financial future as a property investor.

Buyer’s Agent

To help you find the assets in investment-grade suburbs suited to your portfolio, you want the advice of a buyer’s agent.

Mortgage Broker

Choose an investment-savvy mortgage broker. They should be able to understand interest rates and establishment costs as well as investment structure. When planning with your mortgage broker, they should be able to think about how you can secure your first investment property, but the second and the third. Your mortgage broker should also be capable of providing a detailed cash flow modelling for you.

Financial Planner

Your financial planner should be able to come up with a short-term and a long-term strategy. They will also be responsible for your superannuation or SMSF returns. They will also be able to  assist with cash flow modelling.

Accountants

Your tax outcomes will be handled by your accountants. They will ensure you are legally claiming tax deductions to which you are entitled and go over tax planning with you. Like your financial planner and mortgage broker, they will also be able to assist with cash flow modelling.

Property Manager

Once you’ve acquired and secured your investment property, the next step is making it a profitable one. Your Property Manager will be your greatest asset in this regard. They will market your property rental and find the tenant best suited for it. This is a crucial step because getting the wrong tenant or prolonged vacancies could set back your investment goals. More importantly, your Property Manager is an expert in tenancy legislature and will see to it that your property rental is up to standard with the latest developments. They will also be able to make sure your property is cared for and maintained.

When it comes to property investment, the best results are achieved with the support of professionals who understand you, your wants, needs and goals.

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About the author: Lauren Robinson

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