Financial advisor

don’t know any financial advisors, most are too conservative for me and preach strategies that will keep you poor.

I use a property advisor from NSW.

please email me if you want details

We buy properties in Adelaide. No Agent Fees.
[email protected]
phone 0412 437 582

Hi Tveia,

I work for an Investment & Property Development firn in WA – not looking for more business but maybe able to help with what too look for.

Amongst all the other important characteristics to look for like experience, self-investment, number of clients (with references) & so on I think Education is a key element..

Obviously a Dip. in Financial Planning but also an Advanced Diploma and even a business degree of some sought to reinforce. I completed my Dip last year and moving into the Advance now – the Dip is just too little by itself and conducted too quick ly in all honesty.

Know its just one of many things to look for but the Dip. on a business card isn’t enough in my opinion.

From memory the Destiny F-Advisers are a Tier 2 advisor with the focus as Battleships says on property.

“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculator

Hi Wylie and DrX
both of you are off topic…..
but, i totally agree with what you say
Can you imagine if the advisor had told Wylie to buy mining shares
last 18 months they’ve gone ape

had Wylie taken his 50k and invested
today it would be worth $270k….in 18 months….
and only cost him 60 bucks in costs
plus CGT

Wylie, are shares in your risk profile?

love watching that share graph……
a bit of a contrast to the property chart????

there are some people who make money…..
and some that make real money

hb,

I don’t think I was off topic. I don’t know how you work out our $50K would be worth $270K. How do you know we would have chosen “good” shares. I know the news reports say that if you invested $xxx it would be worth $xxx now, but what if you happen to pick a poor performing company, or one that goes bust, or get bad advice.

My risk profile does not include shares. My parents have made their money from houses and shares. They have NEVER lost money from a house but lost $26K in one day after an adviser told them a company they had shares in was okay. They had heard rumours this one was having problems and should have followed their gut instinct and got out then. Instead, they asked their adviser, who told them all was well. Couple of days/weeks later, $26K down the drain.

The only time we bought shares we lost the lot. Luckily we could only scrape $1000 together (20 years ago) or we would have lost more.

I have no problems with others buying shares, but they are not my cup of tea. I cannot paint a share or add a deck. I am too lazy to follow the sharemarket, but I am not too lazy to get out a paintbrush. It comes down to what you are comfortable with.

By the way, hb, the house we bought for $155K (instead of taking the adviser’s advice) was last valued at $530K six years later. It is 5km from the city on 36 perches with development potential. It can only increase in value as more people try to cram into SE Queensland. I’m very glad we didn’t listen to the adviser.

I am sure that if we had put our $50 into shares, they would be worth much more today, but some of the best “blue chip” companies have gone belly up, so how do you pick a company to trust and sleep at night?

I’ll stick to houses.

Cheers, Wylie.

I think the gurus might just be wrong, but in the meantime, someone is paying us good money to live in our houses with the added bonus that they are growing in value, sometimes slowly (and sometimes slipping back a tad, like just recently) but still growing.

I’ve watched at least three property cycles and don’t have any doubts there will be another one, and almost certainly prior to 2018.

Cheers, Wylie.

Hi Derek,

Far from being an expert, we are faced with a bit of a quandry. We have just bought and renovated a house backing onto another IP. This gives us 72 perches with two street access and two houses which cannot be moved (character).

We have stretched ourselves and this is heavily negatively geared. We have borrowed extra to allow us time to work out what to do. Our options include –

1. Selling another half share house we have in order to reduce our loan enough to just hold these two back to back houses until we decide what to do with them.

2. Go straight in and get a DA aproval for one house, two houses or perhaps three townhouses.

I would like to keep the half share house, but we need to speak to someone who knows the ballpark figures on our different scenarios because to develop the block would mean borrowing much more than we have already, and the associated risks involved.

Perhaps someone needs to tell us to get the DA and onsell the block to avoid the hassles involved in actually building anything. I want to develop the block, but I don’t want to end up in the loony bin doing it, and it seems that going crazy or going broke are two definite possibilities.

I suppose I am stepping outside my comfort zone.

Since I was 15 I have helped paint, spruce up or renovate over 30 houses with my parents, then my husband. Renovating doesn’t phase me, it is just hot hard work. However, we have never built from scratch and I’m a bit nervous about where to start.

I thought a financial planner who knows property development and the risks could give us some direction.

I read many posts and think we are real tortoises. We are in our mid 40’s and, considering I bought my first house about 25 years ago, I feel sometimes that our net worth just doesn’t reflect the amount of hard work and sweat we have put in over the years.

I’m not complaining, but each time we buy a house I think “this time I will pay someone to paint the house” and each time we don’t have enough money to do it, so we do it ourselves.

I do go through periods of thinking it would be easiest to sell the half share, reduce the IP debt and just cruise for a while.

Sorry to ramble, and I hope I don’t come across as though I know everything, far from it.

Cheers, Wylie

Hi Wylie
Im with you
wasn’t very successful with shares
hold over 90% of my investment portfolio in property….
but have just recently sold a penthouse in noosa heads, i was wondering if the 13 years investment could have done better.

well lets see

bought all up 310k, sold 13 years later $825K in hand, add some income of about $6k a year
total profit $593k.

I remember at the time being given advice about shares….
but a unit in noosa is hard to beat….

ok….had i bought the shares in something SAFE like
Commonwealth Bank…..
How much would i have made?????
then they where $7.50 each, thats 41,333 shares multipy by todays value $43.98 makes………

$1,507,840 TODAY plus the dividends

but what the heck…hindsight is wonderful
and i enjoyed my cheap holidays in noosa

So i now have cash to diversify………
what does one do?????????

buying property at top of a cycle……i don’t think so

Hi Wylie,

Sorry I cannot help with a referral to someone who can help with the feasibility stuff. Recommend you post a question in value adding or something different forum.

Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958