Where to now?

Hi Jo

If borrowing capacity is an issue then you might have to wait until your returns are beefed up -there are a few lenders that will go off ones years return so you might only have to demonstrate one strong year.

Cheers

Jamie

Hi Jo,
Sounds to me like you and yours have done really well to get yourselves into that equity situation. Big congrats for that.

The next thing is “Where do you WANT to be?” What is your goal? e.g. Do you want an income stream from the rental stream of a number of freehold properties? Or do you want to continue to grow your portfolio? Do you have a timeframe for “consolidating into your next phase of life” whatever that happens to be?

It is good that you are here and asking questions. Because we don’t know how much we don’t know, now is the time for you to take your thoughts about “What is next” to an adviser who is well versed in finance in all of its forms (including Super and Trusts). If more borrowings are what you want, I am sure that can be engineered. Just how, I don’t know – but the likes of Jamie, Terry,Richard, Corey, and a host of others on here WOULD know.

Main thing is to become Henry Ford – and press the button on your desk that brings the guru of “your financial future” into the room. Who knows – maybe just by reading around on here, one particular poster/adviser will just seem right to you, and you can then ask offline for their help.

Anyway, well done thus far – let’s see what is “Next!!” :p
Benny

Hi Jo,

…. perhaps it is time to see a financial advisor, Hard to put trust in one though with all the stories you hear.
Last one I saw years ago was just interested in selling me over to their super fund and flogging insurances.

I quite understand that, Jo – like many professions, its members can choose to operate within a specialised area. I recall Jan Somers in particular warning of the exact thing you mentioned above. Be mindful too, that some professionals “buy themselves a job” by purchasing a franchise (Mortgage Choice is one I know – there could be many others…).

Now, I am sure there are many Mortgage Choice Brokers who are fantastic at what they do, but there can also be some who simply leverage off the brand with a skillset that limits what they can do for their clients. As always, caveat emptor (buyer, beware). I like to use referrals from people I know/trust when sourcing any help – include tradies in that, along with brokers, accountants, etc. So call on your network to get referrals – and they can include this forum too.

Last one I saw years ago was just interested in selling me over to their super fund and flogging insurances.

Me too – fortunately, the bloke in question negated himself quickly – he had set up an after-hours appointment for me, but must have had a whiskey bottle in his bottom drawer. In short, he stank of it. As I already had investment properties at that time, I also had a reasonable idea of “where I wanted to go” – conversely, he had a good idea of where HE wanted to steer ME. Didn’t work out though….. funny that !!

Benny