Described as a “big-picture strategist,”
The biggest challenge for clients who buy real estate is that they make emotional decisions, Helbing said in the article. As an example, “They'll go on a ski vacation to Vail, Colo., come back and say, ‘We like it so much, and we're going to buy a condo. We can rent it out, make a bunch of money, sell it down the road and hit the rainbow pot of gold.’
“I never want to destroy their dream, but since I'm their financial adviser, I go through the cash flow analysis, call a couple of Realtors out there, and see if I can get hold of the developer. I may discover that Vail is so overbuilt that the chance of renting out their condo in the summer is zero… And suddenly it’s not such a good deal.”
The article also discussed important considerations when buying commercial property. “You have to look at what you want to use the property for, and what you are trying to do with it,” Helbing said. “A doctor or dentist may want to buy a commercial building, have his practice in it and lease the rest out. It’s a good idea, but you still have to do your due diligence.”
The article can be read in full at www.heraldtribune.com/
Helbing is a Certified Financial Planner (CFP®) and Chartered Financial Consultant (ChFC) and is a member of the Financial Planning Association, Society of Financial Services Professionals, and Medical Group Management Association. He is consistently recognized as one of the 150 top financial advisers in the country for physicians by Medical Economics magazine.
Suncoast Advisory Group’s Sarasota mailing address is 15 Paradise Plaza #354, Sarasota, FL 34239. Helbing can be reached at (941) 375-7320.