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  • Profile photo of djsubaridjsubari
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    @djsubari
    Join Date: 2005
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    July 6, 2005 - 6:21 am

    Thanks for the advice, Simon and TMA…

    – D A V E –

    Profile photo of djsubaridjsubari
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    @djsubari
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    July 6, 2005 - 4:37 am

    The reason I am asking is that I am about to be trained by my friend to be a mortgage broker (he runs his own finance company). I have the intention of investing as well as being a broker in the future, while also finishing my degree. I just thought it would save me a lot of time securing a reliable finance company.

    On that note, how did you find clients when you first started as a broker? Thanks in advance for any advice

    – D A V E –

    Profile photo of djsubaridjsubari
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    July 1, 2005 - 3:11 am

    Thank you Steve!

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    Profile photo of djsubaridjsubari
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    @djsubari
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    June 30, 2005 - 8:57 am

    Cata, what do you mean by a $2 company?

    Say a trust owns assets worth $1 million, and I personally have assets worth another $1 million. When the trust is sued, my personal $1 million is safe but the $1 million under the trust’s name is still under threat? Can the trust defer the assets to be under my personal name and therefore be safe?

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    Profile photo of djsubaridjsubari
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    @djsubari
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    June 30, 2005 - 6:29 am

    Thanks for the explanation. I am trying to understand this concept, please correct me if I’m wrong.

    So, in a trust, there are:

    1. trustee or legal owner, can be one or several company or individuals. They don’t own the assets owned by the trust.

    2. beneficial owner, the real owner of the assets. The beneficial owner’s name does not appear on the title therefore cannot be sued

    Is this why trust is a good entity for asset protection?

    – D A V E –

    Profile photo of djsubaridjsubari
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    @djsubari
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    June 29, 2005 - 8:14 am

    Thanks for the replies guys. I am not familiar with ‘trust’ entity. Is a trust formed between 2 people , that means you and a company you set up? And if that is so doesn’t that mean your personal name still appear in the title? Or does a trust only need to consist of 1 company name?

    – D A V E –

    Profile photo of djsubaridjsubari
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    @djsubari
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    June 29, 2005 - 3:17 am

    Hi Nigel, thx for the advice. Just curious though if I buy a property under my name, if something goes wrong for example the tenant hurts himself and sues me, would all my personal belongings under threat? Is this possible? Or can this scenario be prevented with insurance or other means?

    – D A V E –

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