Bhaama
, 30,Sydney, NSW
First time investors
Inexperienced
Build wealth
Their situation
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 Ethan 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 Ethan, 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 Ethan 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.
FIND OUT HOW WE CAN HELP“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 Ethan and the team and map out a strategy was great.”
