Hi everybody,
How can i go about capitalising interest for an investment property, i'm uncertain where to start. Have any of you used Chan and Naylor to set up trusts or for financial advice regarding investment property strategies.Any feedback would be appreciated.
Thanks..iballC & N are wonderful if you really want to be charged through the nose.
There are many other quality Accountants who will give you equally good advice for half the price.
In regards to the capitalising interest question do you want to elaborate a little more and we can provide some answers.
Richard Taylor | Australia's leading private lender
Qlds007 wrote:C & N are wonderful if you really want to be charged through the nose.There are many other quality Accountants who will give you equally good advice for half the price.
Richard, you seem to have few issues with Chan & Naylor don't you? That's a couple of negative comments you've made now. Do you have any particular issues you'd like to raise?
Iball, Feel free to email or call me and we can discuss how to best go about implementing the strategy you discussed with Chan & Naylor.
Cheers
Hi Janelle
Yes i must indeed take exception to some of their practises.
Only at the start if the week did i have a client ring me who had set up a PIT with them and then was asked did they wish to be referred to their mortgage broker for a fee. (Yes the client emailed me the letter as i thought it was disgraceful and didnt believe her) . Sure charge through the nose for your Accounting work but do not charge clients for referring them to a MB.
They went elsewhere to a NSW Broker who then wanted to charge them in the event that they obtained finance and they decided to go elsewhere. Fortunately for the client the Broker could not place the deal and therefore I placed it for them without any fee charged whatsoever.
I also have many FP clients who are Ex C & N clients and who I believe have been charged ridiculous amounts for their annual returns and Tax and Financial Planning.
What gets me is that an organisation seems to think it ok to charge like a wounded bull and then wonder why other Professional refer their clients elsewhere and clients do not return.
The other think you notice is how when times get quieter all of the new brokers come out of the woodwork and appear on forums. When times are busy they do not have time to answer forumites questions but when the pendulum swings they are here every minute.
If you knew anything about me you would now about my background and would be aware I come here purely to assist forum members and answer questions and do not come to ply my business and tout for new clients.
I just dont like to see clients get ripped off by any organisation.
Richard Taylor | Australia's leading private lender
They are too dear. Better value elsewhere.
I am with you DIY.
Richard Taylor | Australia's leading private lender
Qlds007 wrote:I am with you DIY.Thanks folks
I will be able to make a more informed desicion with your feedback.
Cheers
iball
Have u try large accounting firm? I think they are cheaper than C&N!!
C&N charges up to A$1000 just for financial health check
If you want to pay top amount of money, might as well seek the top accounting firm.
I m sure that KPMG, PCW, Prosperity, E&Y etc will charge lower fee.
No harm to give them a callThanks GOM…I'm starting to wonder if a small investor such as myself actually needs to have a trust,aside from asset protection what are the other benefits after having spent the $ to set one up.I'm guessing that accounting fees for all matters involving trusts are also inflated.Reason I was enquiring is that I have 6 properties 75% owned and positive cash flow, looking to buy again soon.
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