Hi All,
Quick Question – what would be the best structure to use if I were to team up with another person to build a property empire?
Would we both create our own discretionary trusts and then form a unit trust? With our disc. trusts owning 50% each of the unit trust? With the unit trust having a corporate trustee in which we are directors of??
What entity did Steve and Dave use?
Any help much appreciated!
Thanks [
]Ultimately you will need a good accountant. I would find someone familiar with property investing and such – maybe a phone call to your own accountant or one recommended would be a start.
Anna
Im Agreeing with Annaw2, you definetly need a good accountant, the rest is easy from there.
Find property and getting finance, is the easy part but if you have an accounting background you be laughing, this makes it, all the easier.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”Thanks guys – will make appt with Accountant!
[
]I would recommend as a first point of call visiting http://www.gatherumgoss.com and purchasing both the ‘Tax Battles’ and ‘Trust Magic’ manuals written by Dale Gatherum Goss. I rec’d them on Friday, and read them in two sittings.
Absolute must read for those wishing to use a trust structure, and also wishing to invest with other people also using trust structure.
Cheers
MelThanks Mel
Visiting that site after here “trust magic’ sounds good.
Also thinking about Steve’s “Wealth Guardian” as a present to myself for XMAS
REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
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