money partners

Viewing 4 posts - 1 through 4 (of 4 total)

ajsc79
Participant
@ajsc79
Join Date: 2005
Post Count: 27
August 18, 2008 - 5:45 am
I am a property developer with a need for money partners. I am looking to place an advert to offer 15% p.a. return on money invested in to my business. I am unsure of the legal issues if any. I need to have contracts/structures in place to protect the investor and myself. Is there anyone who has done something similar and willing to offer advice, i dont mind paying for the advice. Im not really sure where to start, maybe with a solicitor? any help/advice would be greatly appreciated
Cheers
Anthony
(from adelaide)
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
August 18, 2008 - 9:28 am
Hi Anthony
You should seek legal advice because there are various laws relating to raising money from the public. ASIC are actively looking at this because of the number of failed developments recently.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
js2
Member
@js2
Join Date: 2003
Post Count: 758
August 18, 2008 - 9:59 am
Go to a solicitor mate because your post is already breaking the law to my brief knowledge .
Dave Ward
Participant
@dave-ward
Join Date: 2004
Post Count: 37
September 22, 2008 - 12:56 pm
Hi Anthony,
I have a detailed knowledge of what you are asking and the rules as stipulated by the Corporations Act (Chapter 7) in relation to raising money without an AFSL.
If you still want to ask any questions, please e-mail me [email protected]
I have been a property developer for 5 years and have dealt with this a number of times.
Dave.
Dave Ward | Geronimo Finance
http://www.geronimofinance.com.au
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Property Investor, Property Investment Expert & Advisor, Finance Expert & Strategist