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  • Profile photo of gnjgnj
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    @gnj
    Join Date: 2005
    Post Count: 7

    Hi STran,

    Read the “HDT Savvy accountant in perth” discussion under the help forum, redwing suggests a couple of books on trusts and structures there.

    Cheers
    Jules

    Profile photo of gnjgnj
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    @gnj
    Join Date: 2005
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    Hey all,

    great reads & thanks for sharing.

    Dazz – point to note on govt acquiring property from you. The government can compulsorily acquire land and from my experience in this, it isn’t always what you as a Savvy property investor would consider a reasonable return on your investment & you may need to fight a little to get what you want. The Government doesn’t care that you have spent time putting a deal together or improving a property (you see they don’t understand that because when they want it they get it – so long as they have written it into their budget the year before!) I am not sure what/ when they can decide that they need to compulsorily acquire property though, so you may be OK.

    Bris 4171 – your capital raising sounds really creative, did it all work out?

    Redwing – did all your hard work payoff – have you finished telling your story? ie. Would you do it again?

    I am writing about my first property investment, but it also is a little old.

    Cheers,
    Jules

    Profile photo of gnjgnj
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    @gnj
    Join Date: 2005
    Post Count: 7

    Hi,
    what area (ie country/state)?
    Cheers
    Jules

    Profile photo of gnjgnj
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    @gnj
    Join Date: 2005
    Post Count: 7

    I was at the Perth property masterclass yesterday and John & Rondah (who were part of Steve’e MAP) have built a portfolio of $2.6M in 1 year using a system for property development.
    John suggested that you need to really understand the local council rules well & also HOW the council itself works, so remember to ask that too.

    Cheers
    Jules

    Profile photo of gnjgnj
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    @gnj
    Join Date: 2005
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    I would suggest you get a qualified accountant to look at it for you. It is important that you get your structure right, as the wrong structure can cost you more than an accountant will charge. To make sure you have the right accountant to advise you, ask questions about their experience in structuring. Not only do you want to minimise tax, but also protect your assets. Does anyone have any suggestions of a good advisor for gershall??

    I have heard Hybrid Discretionary trusts are useful if you think you may have some losses, as you can transfer them out to the beneficiaries in the year incurred (not certain) – Anyone else????

    If you buy it in the company you will not get any concessions on sale – the whole gain will be taxed at 30%.

    Once again though – check this out with a qualified advisor.

    Cheers
    Jules

    Profile photo of gnjgnj
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    @gnj
    Join Date: 2005
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    Dazzling,
    I am relatively new to the forum, but agree with your comments from what I have been reading.
    Thanks for the insight. At this stage I have no property stories that anyone would be interested in (I am currently in the -ve cashflow stakes). however I am now reviewing the plan for the future and find some positive cashflow properties. I won’t be in the $2m league, but would be interested to know how you got together with your group of investors?

    Cheers
    Jules

    Profile photo of gnjgnj
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    @gnj
    Join Date: 2005
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    My First post & not sure that you would want any of my advice, but here goes anyway. When I first started looking at property I couldn’t decide where to buy. There were soooo many options. Every weekend I would religiously look in 15-20 areas. I couldn’t decide which would be best & passed opportunity after opportunity because there was “probably something better in one of those hotter suburbs “…. That time was not well spent & it can never be replaced.
    Not sure if you have already done this, but if you narrow down the areas you are looking in (assuming you are happy with the fundamentals in those areas) it will make the best use of your precious time.

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