Hi all,

Iam in QLD. No I already have buliding and finance in contract. I understand that because my solicitor or myself have not seen a signed contrac from the Vendor and I have not paid my deposit that there is no binding contract?!

Cheers Mat

Hi Scott & Terry, To cut a very long story short I intend to be going into partnerhsip/business with another investor. This partnerhsip is primarily and only for Investing in Property. Im now in the process of seeing a solicitor and drawing up all appropriate legal documents. The partnership is a 10 year project and we intend on holding onto 90% of our property. I could not tell you how many properties we intend on purchasing, however I can tell you over the lifetime of the project in the vicinity of 20 plus properties. Our property portfolio will consist of positive cashflow, negaitvely geared, positive geared and the odd capital growth buy and sell properties. Which trust will best suit our situation? Something we have not yet decided. Cheers Mat

Hi again,

Asset protection and tax advantages are the contributing factors to why most people start up trusts. I think my whole discussion here is that we need to be careful what Trusts we are registering. Whether we like it or not advice has come direct from the horse mouth (Finance Banker/Lenders) that having trusts can:

1) Slow down the process of having loans approved
2) at worst case scenario bankers have been known to refuse loans based on certain trusts

I dont agree it doesnt make a difference whether you have a trust or not, having a trust can invlove sometimes complex and time consuming financial reporting! That in itself can lead to banks/lenders experiencing problems when and if they need to take possesion of a property , hence the reason people are refused.

Food for thought………..
Cheers Mat

P.S Terryw thanks for the info on Trusts Structure Guide 2006, great web site!

Hi Brett,

Yes I have actually purchased the Trust Magic- Dale Gatherum booklet at http://www.businessmall.com.au however the booklet explains how the trusts can be utilised, not which trust to chose, it presumes you already know about trusts.

The Wealth Guardian Package maybe my only option.
Cheers Mat

Hi Wayne,

Thanks for that feedback. Yes have had access to those sites as well. Yeh your right it is possible the real estate agent can help you there, just that its never guaranteed.

Cheers Mat

Hi guys,

Are there any people out there that can give exact examples on where a buyers agent has found you positive cash flow property or potential positive cash flow property and if so what % were you positive/infront.

Cheers Mat

Hi John,

Thanks so much for that piece of advice, it is something I will most definetly take on board. I think until I manage to build my portfolio to a stage where by I dont have the time I will look into using a buyers agent.

My only problem now is finding positive cashflow property. Ive been looking for a month and it seems like there far and few between, but you no what Im determined and I actually enjoy the challenge!

Thanks again

P.S- To the other chap looking for a buyers agent, this web site might get you started. I have not used them and dont know of the reputation http://www.metropole.com.au/

Cheers Mat