How A Wealth Platform Can Help With Your Property Portfolio

Mark Taylor , Principal/Licensee in Charge | 3 June 2020

Whether you're looking at purchasing your first property or want to keep up with how changes in the market could affect your property's performance, a consolidated wealth platform can help you.

For those of you who are looking to get their foot in the property door, it can sometimes be challenging to save for a deposit whilst keeping on top of your everyday finances. Or, on the other hand as a property owner, it's keeping up with the changes in property markets and what they could mean for your property's performance. Not to mention, the loads of paperwork involved with assessing your debt, equity and cashflow position that could hold you back from making investment property decisions. 

Taylors Strategic Partner, Michael Sik - Financial Adviser and Owner of FinPeak Advisers - shares two examples on how a consolidated wealth platform can help you get started in the property market or get the most from your property portfolio.

Example #1 - Getting Onto The Property Ladder

Meet the millennials Wendy and Andrew. Wendy and Andrew are a wealth accumulating couple. Both at 27 years of age, they are hustling up their career ladders and starting to think about how they can get onto the property ladder.

To help them purchase their first property, the Wealth Portal will help Wendy and Andrew to:

1. Know Their Net Worth: Andrew and Wendy can finally organise their financial world by uploading all of their assets, and liabilities, including their bank accounts, loans, credits and superannuation, onto the portal so they know where they financially stand. They can also generate a Wealth report at any time and track how their net worth has changed over time.
2. Understand What's Coming In And What's Going Out: Their linked accounts will let them see what their true cashflows are, so they can begin to set themselves a budget using the portal's consolidated budgeting tool that goes across all of their accounts. They can finally say good-bye to spreadsheets, budget in real time so they can spend more time at the beach!
3. Set Themselves A Goal: Using the goals feature of the portal, Wendy and Andrew can set themselves a savings goal for a deposit to purchase their first property on the portal and link it to its dedicated savings account to calculate what account contributions they need. Then, they can stay accountable and on track as they watch their 'expected vs actual' graph progress over time.
Example #2 - Managing Your Investment Portfolio

Meet Peter the Property Mogul. Peter is a DIY investor. He is a high earning professional who likes to give everything a go and doesn’t shy away from risk. At 45 years of age, he’s an experienced property investor and has recently added his third residence to his portfolio. 

On his Wealth Portal, Peter will be able to:

1. Access Monthly Online Property Value Estimates And Property Reports: The portal gives Peter live information from CoreLogic that tracks the value of his properties over time. By adding in all of his properties into the portal, he can get immediate valuation estimates of his properties, and suburb median information. Generated property reports, that he can download at any time, will give him instant visibility of his property's capital growth, rental yield and cashflows and actually see if his properties are giving him the return he wants.
2. Add Property Managers So Rental Statements Can Be Stored Directly In The Portal: Peter doesn't need to worry about rental statements piling up. By adding his property manager to his Wealth Portal team, the manager can email rental statements directly to his portal's cloud storage. He can also upload any depreciation schedules, home insurance and any other property related documents to the portal for him to access at any time.
3. Track His Live Debt/Equity/Cashflow Position: Every time Peter logs onto his Wealth Portal, the values of his loan and property are updated automatically, giving him an idea of his loan to value ratio (LVR) so that he can quickly gauge his potential borrowing capacity for his next purchase. 
4. Use The Portal’s Tax Features To Make Tax Time A Breeze: Because the portal allows you to link all of your transaction accounts to track your cashflows and set your personal budget, Peter can tag and filter property-related transactions. Now he can organise his rental income, deduction transactions and upload any receipts so that he is prepared for the next tax season.
5. Plan His Next Renovation Or Property Purchase: Peter can use the equity information available from before, to plan his next property purchase. He can also set it as a goal in his portal and track his progress. Or, if he has a goal to renovate a property, he can set a goal that's linked to a relevant savings account which calculates the required capital needed to reach this goal in his set time-frame, he'll also receive monthly reports to show how this goal is progressing. 

Like to Learn More?
If you are interested in finding out how you can access your own personal Wealth Portal, please contact either Elena Omidzadeh (FinPeak Advisers' Wealth Portal specialist) on 0424 899 922, or Michael Sik on 0404 446 766

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