Grapevine, TX · Member since 2017 · 4 posts · 2 votes
I'm interested in speaking with a Wealth Manager, who has actual real estate investing experience, and could help to understand some viable options for dealing with my current properties and equity, in the short-term and long-term, in addition to my more traditional stock 401k and other savings accounts. I've spoken to a number of Financial Consultants, but all are focused on the traditional side, and none have been able to give me any worthwhile professional advice with regards to my real estate properties. A name and web address would be helpful.
I think you will have a difficult time finding what you are looking for unless you go to a fee based financial adviser meaning that they do not charge a percentage but an hourly rate, a certified financial planner will also be a fiduciary meaning they legally must have your best interests at heart. Even with a fee based adviser it is unlikely they will have real estate expertise, as most of their clients will only have a 401k or IRA for stocks in their retirement plan. Also I do not personally believe that wealth managers, financial advisers etc. are good at dealing with unique situations, as most of the time they want to go with the safe and inexpensive option for their clients.
I agree with Aaron's comments above and recommend that instead of trying to find a wealth manager with real estate experience you invest some time to educate yourself. And there is no better place on earth to do so as BiggerPockets.
Thanks for replies. I'm aware that a fee-based would be the more viable option, I would actually prefer this. And yes, self-education is certainly the self-evident way forward.