SO, YOU HAVE decided to take the plunge into Commercial property investing. Smart move! But where do you start?
Well, as every serious investor will tell you, having a team of trusted experts by your side is essential for success. These are the people who will guide you and help you navigate the complex world of property investment.
And lucky for you, you get to pick your own dream team. Here are the key players you’ll need.
First up, you’ll want an Accountant and/or Financial Adviser. These professionals will help you manage your money wisely and ensure you’re taking advantage of any tax benefits.
An Accountant can help you claim everything you’re entitled to, while a Financial Adviser will take a holistic look at your financial situation and help you set realistic goals.
Next, you’ll need a Property Adviser or Buyer’s Advocate. When it comes to finding the right investment property, having an expert on your side is crucial.
They should have a deep understanding of the local market and be able to help you find your ideal investment.
Now, let’s not forget about the legal side of things. Enlisting the help of a Commercial Lawyer is a must.
They’ll handle all the complicated paperwork involved in purchasing a property and ensure you fully understand the terms and conditions.
When it comes to financing your investment, it’s worth speaking with a Mortgage Broker. These professionals have been gaining popularity in Australia, with many investors opting to finance their loans through them.
A Mortgage Broker can help you find the best loan product for your situation and finances.
Before you commit to a property, it’s essential to have a Building Consultant conduct a thorough inspection.
They’ll help you determine if the property is up to scratch and save you from any surprise repairs down the line.
Once you’ve made the purchase, a good Property Manager is invaluable. While it may be tempting to manage the property yourself, it’s often risky and time-consuming.
A Property Manager will handle all the day-to-day tasks, help you find quality tenants, and ensure you comply with any legal requirements.
Don’t forget about tax deductions! A Quantity Surveyor who specialises in property depreciation should be part of your team.
They’ll help you prepare a tax depreciation schedule and ensure you’re claiming everything you’re entitled to, while also keeping you updated on any tax changes.
It’s always helpful to have a Mentor on your side – someone experienced in commercial property who can provide guidance and advice based on their own experiences.
This person can be a valuable sounding board for your investment plans and help you navigate any challenges along the way.
And last but not least, don’t underestimate Yourself.
While you don’t need to be an expert, it’s important to arm yourself with some basic knowledge of the market. This will give you the confidence to make informed decisions and ensure you’re not being taken advantage of by other professionals.
Bottom Line: There you have it – your dream team of experts ready to help you succeed in property investing.
Remember, you don’t have to go it alone. Assemble your team, or find someone who can point you in the right direction.
Best wishes …
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