Forum Replies Created
Hi Lostie,
I have managed two properties myself and have found it a rewarding experience in that I now know what the property managers are doing for me and what I am paying for. There is a lot to know but it is worth the effort and as the vendor is leasing it back, there is every chance you won't have too much hassle. I am not sure which state you are in (no pun intended) but I suggest you get a copy of the relevant legislation and here in WA there is book called 'The Landlords Advisory Book' which I found very useful. If it is still available you can get it and all the forms you probably need from a Newsagent. Timing of documentation is very important, that's why I now leave it all to property managers. Good luck
GeoffreyB
Draconis
I just bought a book called ‘Trust Magic’ written by Dale -Gatherum-Goss i think it cost about $110.70 inc postage but it was the best $110 I spent. It gives the full story about trusts in easy to understand language. Only a week before I spent $400 listening to a lawyer give me a run down on a dodgy use of hybrid trusts, but after discussing Dales setup with Hybrid Trusts with an accountant he was very happy with the way Dale G-G had it set up.
The website to get it from is http://www.propertybooks.com and you can also check out dales website http://www.gatherumgoss.com which seems very interesting.
GeoffreyB
Originally posted by elkam:Hello Geoffrey
Pending an answer from the forums resident trust guru here is a link to a thread where Terryw gives a clear and simple explination of Hybrid trusts.
https://www.propertyinvesting.com/forum/topic/23422.html?SearchTerms=hybrid,discretionary,trust
As trusts can not distribute losses, the HDT is a way to solve that problem.
Hope this helps [smiling]
Elka
