downtown5000 replied to the topic “property managers” too busy to manage properties! in the forum Opinionated! 14 years, 7 months ago
I totally agree my parents had a property and it was coming up for end of lease, and they decided to renovate . Just two weeks before the PM claimed to have done an inspection and all was great, just like when they moved in. Then my parents told them we wouldn't be renewing the lease and they couldn't even find the key and admited they hadn�…[Read more]
downtown5000 replied to the topic Correct Accounting Structure for Renos and Buy and Hold Investing in the forum Hi, I would like to 14 years, 7 months ago
Hi, I would like to know.Are you trying to accumulate capital gain. i.e renovate/develop and sell in the first 12 months?Are you trying to negative gear?Do you know the answers to these questions?Do you want to protect your assets from liability?If you decide to move your existing properties into a trust you my understanding is they will…[Read more]
downtown5000 replied to the topic Is A Discretionary Trust a Family Trust Only? in the forum Finance 14 years, 7 months ago
Terry that is an excellent post and is also how I understand it.As Terry said the important thing is each family unit can treat their own profit separately.The way I understand it is if you only set up a discretionary trust then one of the trustees could potentially stream all the profit to themselves or any trustee or beneficiary of the trust…[Read more]