Aaron Whybrow breaks down the difference between buying your first investment property and your first home. He walks through assembling an accountant, broker, and buyer's agent, then setting up a property holding trust, using a self-employed client's Western Australia purchase as an example from pre-approval through settlement.
Hey, it's Aaron here. Just wanted to talk about another special group of clients that we have which is the first time property buyer. The first time property buyer is so much different to the first home buyer. These guys are looking at not only whether they want to have a house to live in, but they also looking at their wealth creation journey. So my client self employed, looking at getting the right team around him to be able to buy an investment property, this is utilizing the ability to stay at home or even some people want to stay renting at the same time. So first time property buyer got the right team around him, the right accountant for him, the right broker, which is us, and the right investment strategy or property company buyer's agent buying behind him as well. And now he's ready to pounce. He's set up the right structure for his circumstances. So he's been able to have a property holding trust that's aligned with all his other entities, able to get the wealth he needs out of his property to be able to buy. The buyer's agent's been able to find an awesome property anywhere in Australia. This property in particular was in Western Australia. And we're able to now go down the path of converting his preapproval into a full approval and then on the progression to settlement, this is going into his trust and then he's already started to engage us to look at what he needs for a deposit and costs for the next property that he wishes to buy within this holding trust as well. So self employed or not self employed, looking to go down the path of a first time property buyer, please do reach out because buying a property, it could be your first time or it could be just your first property. As an investment you need to get the right team around you and you need to get the right strategy from the lending in place as well. So if this is you, jump out, reach out comment below and hopefully we'll talk soon.
