Who do you have on your Financial Services Team?

Question

When I was saving up a down payment for my first house hack, utilizing a Financial Advisor's services was one of the most beneficial things I could've done to start off my real estate investing journey. Once I closed on my primary and essentially used every last dollar to make it work, I have not used a financial advisor since and am considering utilizing their services again. I now have much more clear goals in mind and a consistent personal budget than when I was starting off, yet I am by no means saying I am better equipped to yield the best return on an investment portfolio. But, I am wondering if any other investors have found value using an advisors services with the short term goal of saving a down payment?

I have found massive value in adding an investor friendly CPA to my team after owning real estate, and will never consider filing my taxes on my own after some eye opening meetings!

What financial services professionals do you have on your team?
How did you find them?

If you have more than one poll selection, please reply with your answer!🗣️

Jeff S. · Answer

@Noah Bacon CPA

Nikhil Agarwal · Answer

I work with a CPA (tax filing, tax strategy discussions) and a book keeper (keeps all the books straight, receipts etc.).

I don't have a financial advisor and generally don't believe that they can outperform a diversified portfolio especially once accounting for their fees. Plenty of robo-advisors have also been built by various startups. I signed up for 10 of them (no kidding, I was doing some market research for a product I was building). Every single one of them simply put my money in a few index funds.

I think a financial advisor can help when you need an accountability partner and/or to help you think through your income/expenses to ensure you are saving enough each month. But as far as managing your investment portfolio, I don't think they can help beyond putting your money across a few index funds which you can do by yourself.

Candidly, if someone could confidently out perform the market, they can make a lot more money doing that than being someone else's financial advisor.

Denver McClure · Answer

Investment Advisor here, so I'm also biased! Trust and experience matter most to me. Work with someone who understands your goals, has experience in real estate, and serves as a Fiduciary at all times.

Chris Picciurro · Answer

We teach that building your own "Board of Directors" is the key. You need all of the above.

Cliff Benner · Answer

Little biased since I am an Accountant 🤣

Who do you have on your Financial Services Team?

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