Jacob, 28,
Sydney, NSW

Category

Single professionals

Financial experience

Inexperienced

Key goal

Build wealth

Their situation
Worked in the defence force
Didn’t know whether to buy an investment property or not
Rented an apartment in Sydney

Key outcomes

  • Has two investment properties
  • Has a clear path going forward and is confident he is building his wealth
  • Started building a share portfolio to diversify his wealth

Understanding their situation

Jacob reached out to Montara wanting some direction on how to invest his money as he was unsure what the best strategy was for him personally. Having worked in the defence force, he had saved up some money and wanted to start taking action. He knew that doing nothing was the worst approach but wasn’t sure how to take the first step and wanted the confidence to commit to a plan.

“I had a friend purchase an investment property, so this prompted me to reach out to Montara. My work colleagues spoke highly of the team so that was more than enough to know I was going to have a good experience working with them.”

The Process

Given Jacob’s age there were so many opportunities and potential life changes available to him, so we took the time to understand his background, goals, and values. From there we were able to understand key factors to integrate into any strategy such as flexibility, wealth creation, confidence, and ease of management.

“I had a very basic understanding of how I should be investing my money, so I was trusting in Montara’s expertise to ensure I was making the right decisions.”

Working with Montara

After developing an understanding of Jacob’s situation, we were able to present numerous different investment options and show him what each one meant for his personal circumstances. These included purchasing a home versus a rentvesting strategy. We worked out that buying an investment property was perfect for Jacob as it gave him the flexibility he needed and didn’t affect any incentives he got from his employer in terms of rental assistance.

“Montara were extremely approachable, and meetings were consistent and frequent enough to ensure everything was being covered. I would never leave a meeting with any doubts as to what we were doing.”

We then introduced Jacob to our sister company, Binnari Property, to help with his property investment purchase.

“The guys from Binnari were really helpful with the purchase of my investment property. Being inexperienced in this space, they handled all the background work from beginning to end of the process.”

We also put Jacob in contact with a mortgage broker, Orium Finance, to ensure the purchase of his property ran smoothly.

“Orium were also great. They dealt with a conveyancer on my behalf, making my life so much easier throughout the borrowing process”.

Like everyone, Jacob’s goals, aspirations and objectives will change over time. So we continue to work with him to refine and update his financial strategy to ensure it is kept up to date and is applicable to Jacob’s current situation as part of our ongoing service.

“I understood the basic investment costs to do the initial financial plan. When I was considering signing up to the ongoing advice, Montara were open with the costs involved and never pushed me to go ahead with it. When I decided it was financially viable for me to hop onto their ongoing plan, I did.”

FIND OUT HOW WE CAN HELP

The overall goal with reaching out to Montara was to just make my life easier, make my money work for me. I’d like to eventually buy a place to live in, whether that’s in Sydney or somewhere more affordable.

What gave me the confidence to go ahead with the strategy was Montara’s confidence in how different scenarios would play out. “I really appreciate how knowledgeable the team at Montara are.

Going forward, the property investment purchases will allow me to purchase a place to live in that can be paid off a lot sooner than if I were to buy my first home without those investments.

Hear from Jacob

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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