Now that you have your goals in place, have the right mind set and have confirmed your money rules (if your money rules include buying property) then this is step 2.
Get some advice around your current financial position and know your numbers. This is where you would need to talk to a finance broker like myself and /or your accountant, and/ or financial planner, and /or property strategist (also what Blue Wave is qualified and specialises in).
This can often be the hardest step – who to trust? Will this person be a good fit for me? You need to interview the person you are about to hire – they need to be able to help you build your property empire. Some of these experts may work together or by themselves. You will also need to engage a solicitor to help with the purchase and any legal matters – not to give advice on what to buy and where to buy it.
You need to find out your purchasing power, how much deposit you will need, what income level you are at- salary, self employed, bonuses, rental income, dividends etc. Also look at the different purchasing entities i.e in a personal name, a company or trust name or even using your super to purchase a property.
Once you know these details you can move onto stage 3 ‘A plan to purchase’. This will be outlined in my next blog.
At Blue wave Property Strategies we have a specialised document I have been using and modifying over the years called a Strategic Summary. It is a quick and easy excel spreadsheet which collates all the necessary information to give you an idea of your starting point. This is part of our strategy session to get you on the wave to wealth. If this is something you are interested in doing please contact us now and we can have an informal chat about your financial future.
0434 449 455