A partner and I wish to invest in property as a career. Should we begin investing as invidiuals, a partnership or through a small pty company?
Adco,
If you are just starting out, best thing to do is research, research and more research. Do a search on this site for all the things you mentioned, go through the Legal section on this site. pick up books on property investing – Jan Somers, Peter Spann, Steve Mc Knight, etc . The more homework you do, the more you will save on the potential pitfalls.
Good Luck.
DannyI think as individuals. As partners you will have joint liability and run out of serviceability faster.
Once you have some runs on the board consider a trust.
There is prob little benefit in a Pty Ltd entity.
Cheers,
Simon Macks
Residential and Commercial Finance Broker[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Have you considered a trust structure….?
J.
Jarrod.
http://www.jenterprisegroup.com.au
data.communications.entertainment systemshi adco
From your post this is going to be a business.
The first thing in making a good business is getting the right people involved.
With your business look thru the posts.
I did read a very good list of people you need.
From accountant thru to finacial advicer I think I posted two.
next after reading that you need to decide how you are going to run your business and what structure.
You will then know if trust or company I won’t recommend either as I’m not allowed to.
I run three companies and 5 trusts all for different reasons.
I would not recommend either individuals or partnerships unless this is your primary residence
and your are reno and sell complete.here to help
Hi Simon,
Why do you run out of serviceability when you go with another partner?
Munjy
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