Property
We think property is probably the most important part of your wealth management strategy. This is because it is hard to become financially secure without owning at least one property. If you can own more than one, things get even better.
We advise on all forms of property: residential homes, investment properties and commercial properties. And we don’t just advise on your own property, either. We often find ourselves showing clients the best way to help their adult kids buy homes.
We always start with your family home. We do this because the family home occupies a special place for most Australians. Our home ownership rates are amongst the highest in the world.
Residential property also occupies a special spot in Australian investment history. It is historically the highest earning asset class, with an average annual return of over 8% compounding in the 10 years to 31 December 2015, and 10.5% per annum in the 20 years to the same date (source: ASX Annual Investment Report June 2016).
Homes account for around 43% of all household wealth in Australia. And, pretty importantly, they give you a place to live as well.
And this is just family homes. When you consider the impact of investment properties as well, you find that being wealthy is really a matter of owning property.
This is why property simply must be a significant part of your financial plan. You need to decide what to buy, how much to spend, how to borrow (and how much) and how to repay the debt if you want to make property investment work for you.
Basically, your wealth starts with property and expands from there. That’s why we do, too.
Barry Lynam
Director, Financial Planner, Mortgage Broker
Barry Lynam is the owner and operator of Barry Lynam Home Loans and Financial Services and Hibiscus Coast Financial Services Pty Ltd in sunny Mackay. He has been a Mortgage Broker for 12 years and has been actively involved in the finance industry for over 40 years. Barry offers a wide range of residential home loans and personal loans. In addition to this Barry is a fully qualified financial planner operating as a Corporate Authorised Representative of Axies Pty Ltd (a subsidiary of Spark Financial Group), offers advice about life insurance, trauma insurance, income protection, superannuation and investment advice.
Barry’s goal is to provide quality advice and then meet his clients’ goals and objectives so they can purchase their owner-occupied home or investment property with confidence. Barry will then also give the risk advice to protect the family and income.
Financial planning is a process of managing your finances to help you make the most of your available funds to achieve your goals and is totally committed to assisting his clients to terminate their mortgage and other personal debt while building wealth for their future; with appropriate protection in place should the unexpected occur.
Barry believes that the key to financial security is planning and commitment and will tailor a financial plan and provide ongoing personal coaching designed to offer the peace of mind to enjoy life now while building financial freedom for tomorrow.
Barry Lynam is an Authorised Credit Representative No 365748 of Ballast Finance Pty Ltd CAN 087051750 Australian Credit Licence Number: 366520
Barry Lynam is an authorised representative (343057) of Axies Pty Ltd (AFSL 339384).
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Relevant Articles...
Parents as co-purchasers of property
Increasingly, parents are helping adult children buy property. This might be to assist younger person to get started in the market, or to help a person get back on their feet after something like a relationship ending. This article discusses one way in which parents and children might come own property.
Positive gearing into property
Positive gearing lets you make a profit on your investment from day one. Provided there is no capital loss, this can be a great way to make money. Problem is: everyone else has thought of that, too. Positive gearing a decent property investment is hard.
2017 Budget – Winners and Losers
Compared to previous years, the 2017 Budget was a bit of an anti-climax. In previous years, there have been a number of big-ticket changes - such as the big changes to superannuation that we have been discussing in recent articles. But this year there have simply been a whole lot of small changes, some of which will be of benefit and others will represent a small loss.
Positive Gearing. What is it, how does it happen and do you want it anyway
In property investing positive gearing is where the rent received exceeds the interest on money borrowed to finance the purchase. You often hear about positive gearing – especially from people with a property they want you to buy! But is positive cash flow property actually worth pursuing? The answer depends on what is creating the positive cash flow situation. Sometimes, these factors combine to make positive gearing a wonderful way to reduce risk. But at other times, the factors creating the positive gearing can make an investment very risky indeed. This article shows you how to tell the difference.