Forum Replies Created
Me and my partner signed up for the course on the gold coast 13-15 Aug.
Was not expecting anything on shares at the conference and was eventually going to get into them just thought you had to spend a lot of time researching all the financials which i don't have at the moment.
No sign of the forum or support, think steve meant that after he has been on the course up at the Gold Coast at the same time if he thought it valuable he would set something like that up for people who have been to the course.
Kimberly,
Just an extra step in the asset protection/tax minimisation and also to be able to distribute the income to a range of different beneficiaries.
As with a LLC with just you as the sole member it is is just a pass through entity so anything you earn will be taxed based on your income level.
Petejac1,
Thanks for the reply.
I am setting mine up with the trust back here as the sole member after speaking with Tommy's lawyer and accountant over there.
is what i was planning on doing but good to get the reassurance off the professionals.
Cam
petejac1,
Is what I am currently setting up at the moment too, but did you use a discretionary trust here as the single member or just you personally?
Cam
Petejac 1,
Can you pm me the structure you setup to purchase property in. I have one setup but just want to make sure it is the right option by someone who is already doing it.
Cam
Thanks for the replies,
Just trying to find the best way to get my structure setup the first time.
Agree with you on that as I did think that having the company also as a beneficiary would open up any assets passed through to it for prosecution.
But is there any point having a company as a beneficiary if it is just going to pay franked dividends out to the shareholders (eg me and my partner) and then we will just be paying extra tax if we are on a higher tax bracket? It seems if we are a beneficiary of the trust and the money just gets passed through to us we will be paying the same amount of tax anyway.
Correct me if I am wrong so is no point having a company for tax minimisation as a beneficiary?
Cam
Bird dogs are people who find good deals and then sell them onto other investors for a set price as they usually don't have the money to buy the deal themselves.
I am heading over to do the mastermind training in Aug.
I plan on having all those setup and money transferred over so that I can hit the ground rolling over there on day 1.
You can do it while you are over there but will cut into the time you could be sourcing deals.I am a part of the mentoring program and agree with emjoy, I would not reject any help from anyone. I understand that some of the people in there such as myself have not got much experiance but a couple have some experiance. I also look through the posts of the normal forum everyday and read most comments posted. I understand that some of it is a little bit over my head at the moment but still try to take alot of it in and know that it will all come to me in time. Have no worries, if there is something that I need help with I will post the question in this forum as well as I value the opinion of the people who are doing what I would like to achieve. So don’t worry too much about the blind leading the blind as alot of people will post here looking for your help just like myself.
Cam
Did you mean Steve’s 11 second solution?
Cam
