Continuing on from strong 2017 expansion which saw a string of new hires, January 2018 has seen inSynergy bring in veteran banker, Raj Sarin as Head of Investment Finance Broking.
Having spent over 10 years leading customer-centric business units for two of Australia’s big four banks, Raj brings a wealth of experience to inSynergy including mortgage broking, investment finance and private, retail and business banking.
He also holds a Bachelor of Business Studies majoring in Finance and Marketing, a post graduate qualification in financial planning and is certified for ASIC’s RG146 financial advice qualification. He now has his sights set on an MBA.
Raj’s role will be to continue growing the capabilities of inSynergy’s finance team, drawing upon his experience and extensive network to provide the best possible client service.
“There are elements of finance structure that are critically important to consider so we can help our clients borrow money safely,” he says.
And with so many years in the industry, Raj usually immediately knows which loan applications will and won’t be accepted by different lenders.
“Submitting an application triggers a credit check for our clients which can affect their credit score. We don’t want to do that unless we are close to 100 per cent sure they will be approved,” he said, adding that this also expedites the process.
“It can take up to eight business days for a finance application to be unconditionally approved. A quick no is better than a drawn out maybe.”
“It helps knowing who to speak to and how to structure a deal. This way we can place it with a lender who will approve it which can potentially save the deal for a client.”
Raj’s Property Investment Strategy
While Raj rents in Sydney, he owns a diversified property investment portfolio across locations with strong growth prospects.
His most recent purchase was in 2017 – a house in Southeast Queensland which was immediately cash flow positive with an impressive yield of 7.31 per cent.
“I’m a strong advocate of rent-vesting. I really believe in it, especially if you are living in Sydney in 2018 and are thinking of buying property. There are far better ways of spending your money,” Raj said.
“You could buy in Sydney and see little or no growth for five years, or you could buy two to three properties for the same price in a suburb interstate with strong capital gains prospects, strategically diversifying your portfolio.”
For those that already own a home which has realised capital gains, Raj says the most powerful thing they can do is use that equity to buy into growth markets.
Speaking of inSynergy’s processes which identifies those growth markets and tailors property investment to individual circumstances, Raj says he is blown away by their level of research and service offering.
“In all my years lending money to people, I have truly never seen anything as comprehensive.”
Avoiding the Guesswork:
Raj says it is risky to drop a pin and buy a property hoping it will go up in value.
“Even though I‘ve always worked in finance, I have made this mistake in the past. It is a much more prudent to speak with advisors who dedicate their career to property investment research and analysis to help you pick the right postcode and address.”
“It can make a massive difference in as little as two years.”
Important Note and Warning: This information is general in nature and should not be considered personal tax advice. We highly recommend you discuss these concepts with your accountant, property investment adviser and investment finance mortgage broker jointly to ensure any considered concepts are suitable for your personal financial situation, as one effect of the concept may negatively impact another part of your plan.