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One of the most important decisions you can make on your property investment journey is building the right team around you who have the best interests at heart for you. A number of people on this page have been asking who should be a part of your team.

A typical team for a property investor that would be the fuel for the accumulation of assets would include:

  • An investment savvy mortgage broker (with long term focus, unless of course you only want one transaction)
  • Solicitor for conveyancing
  • Property managers who are great at maximising your return, tenant selection and are well-informed of the tenancy legislation of the state you’re investing in
  • Tax accountant that specialises in property
  • Buyers Agent (if you are time poor, don’t have expertise in the area of investing or have never invested before and want to learn)
  • Building & Pest inspector for houses / Strata search company to do body corporate reports for units, villas and townhouses

Property Investing is About Access To Finance

Given our own background at Property Twins and being savvy investors ourselves, we believe that having an investment savvy mortgage broker on your side is important! Having dealt with several mortgage brokers, if you’re looking to build a property portfolio, this blog post is to share what we look for when deciding on the broker to be part of our team. These are:

  1. If you have a big goal make sure you figure out what your plan is in terms of purchasing ($ value, time frame, rental yield). Work with the broker based on your income, expenses, assets & liabilities, potential property rental returns to figure out what’s the maximum you can spend. I.e. for instance, say if your income is $70,000-$80,000 (Average Australian Income), can you buy property worth $1mill, $2mill, $3mill and so on? Make sure the focus is on maximising what you can do in a structured manner. Of course, policies change all the time, however with clarity comes certainty.
  2. Ensure that there is a long-term focus with tax issues having been considered with the structuring of your portfolio
  3. Ensure there are no assumptions about your situation
  4. Ensure that there is a holistic and educational focus to warrant you are on the same page with the decisions being taken
  5. Are they willing to think out of the box?
  6. Look for conflict of interest. Is the lender chosen because it fits in your big picture or otherwise?
  7. If you are on an investment journey, ensure you work with them to figure out not just the current deal but also the deal after that (as an investor you are always looking deal x+1). Personally, we don’t like to be guessing what’s “next”
  8. Last, go with your gut feel on who would be best placed to be on your team. What works for one person may not work for another

All the best with Property Investing!


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4 thoughts on “Building the RIGHT team around you is fuel for your portfolio!!!!”
  1. TheGreenLeaf

    Good post. I agree on the importance of the team. Do you use BA for all your purchase or only on the area you’re not familiar with?

    • admin

      Hey GreenLeaf – we have only ever used a BA for our first IP. We like doing our own deals. Though do appreciate BA may come in handy depending on your commitments, skill, knowledge and access to people who know the area that you can leverage the learning from 🙂

      • TheGreenLeaf

        Do you have any IP outside NSW? I’m curious to know if you succeeded to buy in a different state without BA, as it would be more complex )know local market, visit properties, etc)
        If your whole portfolio is in NSW, you must have already reached the Land Tax threshold. Not too much of a hit?

        • admin

          Hey,
          Yes we just purchased two in Brissy. We asked a lot of questions and input from those who had invested in the area. Didn’t visit the properties! But have a great property manager who did attend the properties with the building & pest guy on our behalf. Mona will do a detailed post on buying sight unseen.
          In NSW when we started, we had to start small with strata properties so haven’t reached the land tax threshold yet. I could do with another check on this :).

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