Hi guys,i was wondering what is best way to buy an investment property with another person. Set up a separate company? Start a partnership? Start a Trust? we have long term goals to acquire more properties as part of our investment portfolio for the future.I currently have an existing PPOR property, I bought about 8 months ago under my name. I…[Read more]
Hi guys,Thanks again for the advise. I will continue to research more on the options. Do you have any good property accountants that you can refer me to in Melbourne?Looking forward to hearing from you soon.Cheers,Mervin
Thanks for the reply Terry, Richard.If I decide to go for the discretionary trust. Does that mean I have to set up a pty ltd as the corporate trustee? Sorry for asking this as I am really green when it comes to matters of business.IP(s) —-$Rent-—-> Trust
> Company
> Share holders (Me and my business partner)Is this structure correct? How do…[Read more]
Hi Guys,I am actually putting in 50k of my own money and plus the $17k. I can borrow up to 192k. Does that make a difference?Please let me know your opinion.Cheers,Mliew
Hi guys,Thank you for your great advise. I have decided to buy my first home when I find one. I am looking at a property with 3 br although I am not sure how am i going to rent out the 2 rooms as I will be looking at Hoppers Crossing which is like 26 km away from Melbourne CBD. Any ideas on what I can do to the rooms? Holls, I plan to use my FHOG…[Read more]
Hi Skuz,Thanks for the info. What you said about finding a place closer to the city is good. I am looking around the inner west however the prices for a 2 br has shot through the roof. I cant even get a decent 2 br below 300k now.I came across Hoppers Crossing and the property there is still within my budget. I found a 3br 1toilet around 220 -…[Read more]
Hi guys,Thank you for your response. I do understand that I need to think about the Interest rate "What Ifs". I have thought about it and I do think it's risky but then again I have to start some where I guess. This will be my PPOR at the moment maybe for 2 years. but I do have plans to move into a bigger place when I have the financial means and…[Read more]
Hi Dean,Thanks for the reply. I am really looking forward to buy my first property investment. As i have mentioned i don't have enough savings yet. I don't think i should attempt a 100% loan without deposit. What do you reckon?I am reading through steve's book and just getting into the formulas like ROI and GRR. It's very new for me now. Do you…[Read more]