Rick Helbing of Suncoast Advisory Group Advises Readers to do their Due Diligence Before Investing in Real Estate
December 12, 2012 (Newswire.com) - Financial adviser Rick Helbing of Suncoast Advisory Group was featured in a Sarasota Herald-Tribune article titled, "A Financial Adviser on Real Estate."
Described as a "big-picture strategist," Helbing specializes in financial planning for doctors, dentists and family-owned businesses. He advised readers to do their due diligence before making real estate investment decisions.
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/article/20120901/ARCHIVES/209011002?p=1&tc=pg.
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.
About Suncoast Advisory Group
Established in 1988, Suncoast Advisory Group provides extensive wealth management services. The firm specializes in highly personalized service, tailoring a plan to each client's unique goals. With no attachment to selling or promoting products, Suncoast Advisory Group acts as a consultant and partner to plan, implement and monitor client progress towards their goals. Services include financial planning, business management consultation, along with investment, fringe benefit, estate and tax planning. Suncoast Advisory Group enjoys a national reputation in crafting plans for physicians, dentists, and family-owned businesses. The firm is headquartered in Sarasota, Florida, and maintains an office in Jacksonville, Florida. Website: www.suncoastadvisorygroup.com.