Our #1 Piece of Advice for Investors – The Power of a Strong Wealth Creation Team

In the words of GPFG CEO Chad Egan, what is the most important piece of advice he can give to property investors? He says “Assemble a team of experts!” And that is just what we have done at GPFG to provide our clients with the best services and information when it comes to investing. The GPFG network expands across Australia to include experienced and certified property agents, developers, mortgage brokers, financial advisors, insurance agents and lawyers – giving you access to a powerful wealth creation team.

Chad was recently featured in a book titled “Insider Know-How: Property Investment Australia” where he is asked about his most important advice and the biggest mistake inexperienced investors make. Read on below, for an excerpt from his chapter.

What is the most common problem faced by inexperienced property investors, and how can this be overcome?

“One of the most common mistakes inexperienced investors make is listening to unqualified influences, those who have never truly succeeded in property investment. Too many buyers only listen to friends, family, and their inner circle without consulting experts.

There’s an overload of information available at our fingertips, and you should do your research, always. In doing that, your groundwork should include seeking advice from mortgage brokers, accountants, financial advisors, and experienced property agents who have lived, breathed, and flourished in the property market for years. These people can help you get a clear picture and avoid risks and impulses so you know what to expect from a property for short-term gains and longevity.

Regrettably, I wish I had taken my own advice 20 years ago when I sold my investment property in Williamstown. I saw the quick profit of $200,000 and sold it when I shouldn’t have. If I had consulted an accountant, I would have been told to use that profit as leverage, not a cashout.

I was too young and didn’t fully understand how to leverage my profits. Whereas an accountant or broker would have said, “Hey, don’t sell. There’s a better way to get cash while keeping your investment.” In hindsight, I could have used the profits to invest in new properties if I hadn’t made that sale.

Assemble a team of experts to help you dissect mountains of information on borrowing rates, suburb insights, tax benefits, unforeseen risks, costs and headaches. If you’re not consulting experts and only getting anecdotal advice from golf buddies or friends on the weekends, you’re missing out on opportunities.”

– Chad Egan, CEO of GPFG, as featured in “Insider Know-How: Property Investment Australia”

At Geonet Property & Finance Group, we strongly believe in the power of our partnerships with industry-leading experts. These include Graeme Holm, widely known as The Money Mentor, and other professionals such as Andrew Bonnici from EndGame Advice, Lucky Velasquez from Finance Better, as well as Australian accountants, brokers, financial advisors, local lawyers, and quantity surveyors.

With a vast network of trusted professionals, our wealth creation team brings together a wealth of knowledge and experience to support investors at every step of their journey. So, why go it alone when you can have the best team in the business supporting your journey to success? Talk to our team today and unlock the full potential of your investments!

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