Pay the expert!

John Bolton
John Bolton - Squirrel Founder & Head of Mortgages
29 February 2016
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Unless you have studied Law, Accounting, Real Estate, Property Valuing and Finance then chances are you are not an expert in all these areas, and it may even be possible that you aren’t an expert in ANY of these areas. Don’t worry, you aren’t alone with this. There are plenty of people you can outsource this knowledge to, and it’s what I call your tight five.

Your tight five are the people who you bring in to help make your investment goals a reality and more than that, they ensure the journey to success is as smooth as possible. They have your back and they look after your best interests. Just like the tight five in the All Blacks, these experts are on your team, fighting the same fight and chasing the same dream. It’s likely that you’ve got a clear reason for property investing (especially if you read my last article) and what you’re in this game to achieve. But consider the possibility that you have no idea where to begin when it comes to bringing everything together to make this happen.  hat’s where your tight five come in. Your tight five should consist of EXPERTS in the following areas:

Lawyer – It’s likely that this will be the person who you pay the most fees to, so choose wisely! The lawyer deals with more than just conveyancing. They need to be able to pick up potential issues in your deals and advise on whether or not you can make them work for you. The wrong lawyer can cost you, but the right lawyer can without a doubt save (or make) you money!

Accountant – Don’t just look for the accountant with the lowest fees. Look for someone with property investment knowledge, who knows property structure and can advise you on the pro’s and cons of possible structures both now and in the future. Unwinding the wrong structure is expensive!

Real Estate/Property Finder – No one enjoys going to auctions every weekend with every other man and his dog only to be consistently outbid. Having a proactive real estate agent on your team is huge. Despite being one of the least trusted professions going around, if your relationship is strong, they will let you know about the deals potentially before they go to market which puts you well ahead of the game and reduces your need to hustle with every other average investor.

Property Valuer – These days the banks have brought in third parties to manage the valuation process so your ability to influence the valuer isn’t there. However, having a valuer in your tight five will protect you from spending more on a property than its worth. If spending $500 on a valuation saves you $10,000 on a purchase price, then where’s the issue?

Mortgage Broker/Banker – This person is the glue. They need to know all the other four experts in your group and work closely with them through the process. There is no doubt that the difference between approvals and declines (success & failure) can come down simply to who you are dealing with and how your application is presented to the lender. Whether you’re dealing with a broker, or direct with the bank – and neither is right or wrong - make sure that they understand investing and more importantly, they understand what YOU are trying to achieve. 

These guys represent you so don’t underestimate the importance of choosing wisely. There are plenty of other experts who will come in handy now and again, but these five are the ones who will be there through your whole journey and if you choose correctly, they’ll get you to the end goal faster. There’s a reason the majority of them charge so much as well. It’s because we need them!  And the right ones are worth their weight in gold, so don’t be afraid to pay the man!


The opinions expressed in this article should not be taken as financial advice, or a recommendation of any financial product. Squirrel shall not be liable or responsible for any information, omissions, or errors present. Any commentary provided are the personal views of the author and are not necessarily representative of the views and opinions of Squirrel. We recommend seeking professional investment and/or mortgage advice before taking any action.

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