Good morning all
We are setting up our team before we purchase our first IP. We have heard that there are a lot of accountantsfin. planners out there that don’t really know much about property, trusts etc and like to push shares. What sort of questions should we ask to make sure we have a player on board prior to committing to anything?
Cheers and thanks
LeanneI must have posted to late or in the wrong forum.
I have one more question and hopefully I’ve posted in the right spot. We have just met with an accountant who was able to explain trust structures, knew cutoff dates for depreciation, has access to resources if we wanted to invest in another country and seemed pretty switched on, someone that we could feel comfortable with.
My concerns are:
He said residential property, as a rule in general, has only 3% growth in the long term (unless you get really good CG). He also bought up food for thought in relation to all of the baby boomers, all of the property they own and the current decline in the population – a future glut in residential property perhaps?????
Forgive my naivete. I’d appreciate your thoughts.
Thanks
Leanne[upsidedown]I thought the population had been increasing over recent years and would be likely to do so. Declining birth rates would be supplemented with people immigrating to Australia.
I also don’t know what he means by property grows at an average of 3% unless it grows at a higher rate. If you buy in areas with limited supply, you should be buying an asset that will grow. Watch out for units, as these can be in oversupply at times – as many people have seen in recent times in Sydney.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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