{"id":20019,"date":"2018-02-06T01:00:00","date_gmt":"2018-02-05T14:00:00","guid":{"rendered":"https:\/\/realestatetalk.com.au\/?p=20019"},"modified":"2018-02-06T01:00:00","modified_gmt":"2018-02-05T14:00:00","slug":"the-nine-experts-you-should-include-on-your-property-investment-team","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/the-nine-experts-you-should-include-on-your-property-investment-team\/","title":{"rendered":"The nine experts you should include on your property investment team"},"content":{"rendered":"

While property investing is one of Australia\u2019s favourite past times, it doesn\u2019t mean it\u2019s always an easy ride. There are ups and down and certainly rewards to reap, but you do have to put in some ground work and planning to become a successful investor.
\nWhile this can seem overwhelming at times \u2013 especially for first time investors \u2013 the good news is that you don\u2019t have to go it alone. There are professionals whose very job it is to help you on your way.
\nIn fact, it is recommended you have a property investment team of sorts \u2013 each player with a different role to help you towards investing success.
\nAs the team captain, you get to pick the players. Here are the experts you should include on your team:<\/p>\n

    \n
  1. Accountant and\/or Financial Advisor<\/strong><\/li>\n<\/ol>\n

    A common goal of property investing is financial reward. But you need to use your money wisely. An Accountant will help you manage your money and advise of any tax changes you should know about, as well as help you claim everything you\u2019re entitled to. A Financial Advisor is slightly different and looks at your financial situation more holistically. They can help you determine your financial goals and set a realistic plan to achieve them. Ideally, your Accountant and Financial Advisor may be one in the same, but both of these services are incredibly useful.<\/p>\n

      \n
    1. Real Estate Agent or Buyer\u2019s Agent<\/strong><\/li>\n<\/ol>\n

      When you\u2019re searching for your first or next investment property, it\u2019s good to have a Real Estate Agent or Buyer\u2019s Agent you can trust. Their commission should be transparent, they should have a thorough knowledge of the local market, have a deep understanding of your requirements and be proactive in helping you find your ideal investment.<\/p>\n

        \n
      1. Property Manager<\/strong><\/li>\n<\/ol>\n

        While some investors may be tempted to self-manage their property, there are a lot of risks involved in this approach if you don\u2019t have the knowledge or time to manage this effectively. A good Property Manager will help you secure quality tenants, be on top of any damage, will save you time, tell you of any requirements and will help take some of the emotion away from the process. As their fees are tax deductible this shouldn\u2019t be looked at as an unnecessary expense.<\/p>\n

          \n
        1. Mortgage Broker<\/strong><\/li>\n<\/ol>\n

          In the past year, Mortgage Brokers have been gaining market share in Australia.\u00a0 The 2017 Property Investment Professionals of Australia (PIPA) investor confidence survey revealed that 83 per cent of respondents are hoping to finance their next loan via a Mortgage Broker, up from 71 per cent last year. If you\u2019re looking to purchase a new investment property, it may be worth speaking with a mortgage broker to help you find the best product to suit your situation and your finances.<\/p>\n

            \n
          1. Conveyancer<\/strong><\/li>\n<\/ol>\n

            There\u2019s a lot of complicated paperwork involved in purchasing a property including the contract of sale, mortgage documents and other paperwork related to the transaction. It\u2019s best to enlist the help of a qualified and reputable Conveyancer to do this legal legwork for you. They\u2019ll help decipher any complicated terms and conditions and translate the legal jargon. While you\u2019re not legally obliged to hire a conveyancer, it should help you reach settlement sooner and with a lot less stress.<\/p>\n

              \n
            1. Quantity Surveyor<\/strong><\/li>\n<\/ol>\n

              Ensure you get a Quantity Surveyor that specialises in property depreciation to prepare your tax depreciation schedule. A specialist Quantity Surveyor is worth having on your team as they will ensure you\u2019re claiming everything you are legally entitled to. A specialist will also keep on top of any tax changes so you don\u2019t get on the wrong side of the Australian Taxation Office (ATO). The ATO recognises Quantity Surveyors as one of only a few professions which possess the required construction costing skills to calculate the cost of items for the purposes of depreciation.<\/p>\n

                \n
              1. Building Inspector<\/strong><\/li>\n<\/ol>\n

                It\u2019s essential that you get a building and pest inspection carried out before you buy a property. The last thing you want is to buy a property only to later find it\u2019s actually riddled with termites or structurally unsound. A trusty Building Inspector will help you determine if you have a quality property on your hands and can save you from forking out thousands on surprise repairs and maintenance after the time of purchase.<\/p>\n

                  \n
                1. A mentor<\/strong><\/li>\n<\/ol>\n

                  It\u2019s great to have someone who is an experienced investor who you can turn to for advice and learn from their real life experiences. Investing in property has its ups and downs so it\u2019s nice to have an investor friend on your side to help, even if it\u2019s just to chat about your situation and investing plans.<\/p>\n

                    \n
                  1. Yourself<\/strong><\/li>\n<\/ol>\n

                    While you don\u2019t need to be an expert to invest in property, it\u2019s important to arm yourself with some basic knowledge of the market to keep on track of how your investment is performing. It will also give you more confidence when dealing with other professionals to ensure you\u2019re not being taken for a ride. There are many resources out there you could use to improve your investing knowledge from books, blogs, magazines and online resources to information nights and investing courses.
                    \nIf you would like to have BMT as a part of your property investment team contact us today on 1300 728 726.
                    \nArticle provided by BMT Tax Depreciation.
                    \nBradley Beer (B. Con. Mgt, AAIQS, MRICS, AVAA) is the Chief Executive Officer of BMT Tax Depreciation.
                    \nPlease contact 1300 728 726 or visit\u00a0<\/strong>www.bmtqs.com.au<\/strong><\/a> for an Australia-wide service.<\/strong>
                    \n 
                    \n <\/p>\n","protected":false},"excerpt":{"rendered":"

                    While property investing is one of Australia\u2019s favourite past times, it doesn\u2019t mean it\u2019s always an easy ride. There are ups and down and certainly rewards to reap, but you do have to put in some ground work and planning to become a successful investor….<\/p>\n","protected":false},"author":176692471,"featured_media":20021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,13,25],"tags":[70],"class_list":["post-20019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bmt","category-latest-story","category-sponsored-channels","tag-featured"],"yoast_head":"\nThe nine experts you should include on your property investment team - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/the-nine-experts-you-should-include-on-your-property-investment-team\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The nine experts you should include on your property investment team - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"While property investing is one of Australia\u2019s favourite past times, it doesn\u2019t mean it\u2019s always an easy ride. 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