Bhaama, 30,
Sydney, NSW

Category

First time investors

Financial experience

Inexperienced

Key goal

Build wealth

Their situation
Migrated from Singapore to Australia
Rents an apartment in Sydney
Wants a structured financial plan to get ahead and continue to build wealth with her partner

Key outcomes

  • Built out a wholistic financial strategy that helped her achieve goals today and map out future ones
  • Purchased an investment property
  • Strategically repositioned her superannuation for long term growth

Understanding
their situation

Bhaama moved to Sydney 2 years ago after migrating from Singapore and living in Melbourne for a couple of years. She got a job in Sydney and started to earn a better income and started to consciously save. She had also been offered some financial help from her parents.

“I was renting for 13 years at this point, so I started to look at purchasing a property in Sydney to live in. However, I found it difficult to understand the market as I wasn’t really into real estate and was unfamiliar with the area”.

“I nearly bought a 2 bedroom apartment in Rockdale but something just told me that I wasn’t doing the right thing and knew I needed to explore more options.”

Bhaama started speaking with another friend about wanting to buy a property, who recommended reaching out to Montara.

“Originally, I was quite sceptical about reaching out to a financial planner and never actually considered working with one. I also didn’t know how much it was going to cost and what they would actually do for me. I thought they just wrote out a plan and that was it. I was thinking, “What if they just profit for themselves rather than doing what’s best for me?” – because at the end of the day it is a business. However, my friend knew Montara and said working with them was a really good experience. So, I decided to give them a call”.

The Process

It was important for Bhaama to have a plan in place which gave her the confidence to make decisions knowing she had the financial capacity to do so without compromising other goals in her life.

“When I first spoke to Dave from Montara over the phone I explained that I was really lost and that I needed to buy something to live in. Through my conversations with Dave, I knew he really was working in my best interests, so I knew working with Montara was definitely going to be worth it. Yes, it is a bit of money to spend at the start on the initial package, but if I didn’t actually go through this process I never would have made the right decisions. I probably would have bought that apartment in Rockdale and lost money on it.”

Working with Montara

We worked with Bhaama to understand her attitude to risk, her lifestyle and financial goals. We then developed numerous strategies with different outcomes, which included comparing a home purchase versus rentvesting.

“Through working with Dave and coming up with a 10 year plan, he recommended with the savings that I had that there was a good option for me to rentvest – rent in Sydney where I want to live and buy an investment property where there is a lot of opportunity for price growth.”

Bhaama’s main priority was her wealth and property position, but we also reviewed her superannuation, insurance and estate planning as part of a comprehensive strategy.

“One of the main challenges for me was my lack of reassurance and confidence. I was quite hesitant so being able to sit down with Dave and Ethan and map out a strategy was great.”

FIND OUT HOW WE CAN HELP

What surprised me about working with Montara was their level of honesty – if they didn’t think I should do a particular thing they would tell me and provide me with alternatives. Their level of support was outstanding and I didn’t feel like I was working with someone superior. It was more of a relationship where we would come together and work on a strategy that was practical and sustainable for me.

Montara are 100% always there for the client. I can trust that the experts are making the right decisions for me rather than having to rely on myself.

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Financial Advisers & Planners – Hire Fee Based Best Financial Advisors – Estate Planning Firms,
Wealth Management & Advice Experts, SMSF Specialists- Financial Consultant & Strategy that
is Best for You in Bondi, Balmain & Sydney – Montara Wealth

 

Suite 1, Level 6/309-315 George St, Sydney NSW 2000 | GPO Box 4473, Sydney NSW 2001
Montara Wealth Pty Ltd, ABN 14 625 010 344 is Corporate Authorized Representative of Montara Services Pty Ltd Licence No. 526747

Privacy Policy | Licensing Disclaimer | Financial Services Guide | Advisor Profile