Andrew, 39,
Sydney

Category

Single professionals

Financial experience

Inexperienced

Key goal

Purchase a place to live in

Their situation
Needed professional advice on how to invest his money
Needed advice on whether to purchase a place to live in or not
Wanted to invest now before it’s too late

Key outcomes

  • Owner of two properties (Sydney and Brisbane) and is in a strong position for his future
  • Confident in the investment strategy that has been implemented and has the ability to purchase another investment property in the future
  • Modelled investment scenarios that included combinations of an owner occupier property, shares, investment property and increased contributions into superannuation

Understanding
their situation

Prior to reaching out to Montara, Andrew was looking to buy a property to live in. He had been renting for the past 9 years and thought it was a great time to buy his own property.

“The market was crazy competitive. I had the money saved up for a house deposit to buy my own place, but I didn’t know if it was the right move for me personally. I was struggling to decide on what was best and it was a bit daunting trying to get into the market.”

“I was happy with where I was renting but the area was too expensive to buy in. I didn’t want to delay buying any longer and it was imperative for me to start making a move. That’s when I was referred to Montara Wealth by a friend who spoke highly of them.”

Andrew was receiving advice from his friends before deciding to do his own research into what his investment options were. That’s when he decided to reach out to Montara.

“The only concern I had before reaching out was that I thought financial planners might have pushed certain products that would make them the most money, but after speaking with David and Ethan I was really trusting of the guys, and had the confidence that they would do everything in my best interest. The team outlined my options and remained upfront and honest about everything – I’ve never felt pressured to make a decision.”

THE PROCESS

As we got to know Andrew’s financial position and his goals, we were able to map out a trajectory of what the next couple of years would look like. This meant we were able to:

  • Identify Andrews key goals and aspirations, along with his current and projected income/expenses
  • Model the various investment strategies that included the purchase of an apartment to live in and an investment property
  • Identify and implement insurance and superannuation strategies to protect his financial position and reduce his superannuation fees significantly.

Working with Montara

Andrew was searching for a property in the area he lived in at the time, however he felt priced out. We referred Andrew to mortgage brokers, Orium Finance, to understand his borrowing capacity. We worked out that he had the ability to purchase two properties; a place to live in and an investment property.

“The investment property was a great opportunity to generate another passive income stream and get those tax benefits I had been looking for.”

“Working with Montara, they knew my savings, income, superannuation and my expenses more in depth so it was much more thought-out advice as they knew my whole scenario – which was a huge advantage.”

In working with Andrew we mapped out numerous investment scenarios that gave him the confidence to make his investments – an owner occupier property and an investment property. Andrew worked with our sister company, Binnari Property, to purchase his investment property.

“Working with Montara was great – they mapped out all the possible scenarios which gave me the confidence that I could afford to buy a place to live in. I was also able to visualise a budget, seeing what I could and couldn’t afford. Having this plan was really beneficial and having that contact has led to me purchasing my own place and then an investment property.”

FIND OUT HOW WE CAN HELP

I am much more set up financially than I was a year ago. Before that I had money to burn but I wasn’t doing anything with it. I also didn’t have much coverage like income protection, so I am definitely in a much healthier financial position, which is exactly what I wanted.

Advice I would give to someone in a similar position to what I was in is to have the initial chat with a planner. Obviously the first chat is free, but it gives you a great indication of where you stand financially. From there it’s your call to decide what the best path is going forward.

The experience and the knowledge is worth paying for and worth listening to.

Hear from Andrew

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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