Yes a company can be a trustee of two different trusts, i.e. your SMSF and your HDT.
In relation to a company being a trustee of your SMSF the ATO says:
“A self managed superannuation fund can have a company as a trustee (known as a corporate trustee) if:
The fund has four or fewer members.
Each member of the fund is a director of the company.
No member is an employee of another member, unless they are related, and
the corporate trustee does not receive any remuneration for its services as a trustee.”
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540
Just in case you fall over “the deal of the century” beofre you get your PR, you could aleays use an option to secure the property. And, if you want to live in the property you could use a residential lease combined with an option (generically called a Lease/Option). Steve has some information about Lease/Options at: https://www.propertyinvesting.com/strategies/lease-options.html
Good luck.
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540
Her’s my wish list:
1. Business advisors – Steve McKnight and Rick Otton
2. Accountant – Dale Gatherum-Goss (Melbourne)
3. Lawyer – Tony Cordato (Sydney)
4. Mortgage Broker and Financial Advisor – Richard Taylor – (Qld).
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540
A couple of other books are:
“How to legally reduce your tax” – by Ed Chan and Tony Melvin.
“Trust Magic” – by Dale Gatherun-Goss. One place you can buy it is: http://www.propertyupdate.com.au/pages/Trust-Magic
I hope that helps.
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540
Would you be able to give us a rough idea how the bank calculates the percentage of equity the borrower sacrifices? Also, does this calculation have a “time” component in it? Thanks.
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540
As you will will probably be investing some hundreds of thousands of dollars building your portfolio in the future, I’d suggest you don’t “nickel & dime” your real estate education.
My wife and I have recently turned three different negatively geared properties into positive cashflow for our clients.
We do this buy selling the properties with Vendor Finance. We structure this type of sale so that you receive positive cashflow until the new buyers refinance out of your Vendor Finance, into a traditional loan. This process usually takes two to three years.
Obviously this won’t be attractive if you don’t wish to sell the property but, if this is an option for you, your sell price is fixed at the begining of the transaction and your IP generates positive cashflow.
I hope this helps.
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540
My wife and I have recently turned three different negatively geared properties into positive cashflow for our clients.
We do this buy selling the properties with Vendor Finance. We structure this type of sale so that you receive positive cashflow until the new buyers refinance out of your Vendor Finance, into a traditional loan. This process usually takes two to three years.
Obviously this won’t be attractive if you don’t wish to sell the property but, if this is an option for you, your sell price is fixed at the begining of the transaction and your IP generates positive cashflow.
I hope this helps.
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540
We’ve now done a total of 17 Vendor Finance real estate transactions (since March 2004). These have mainly been Wraps but we’ve also done Lease/Options and Second Mortgage Carry Backs.
My wife and I paid the money and got ourselves educated in Wraps, etc and now have a very profitable business that we enjoy immensely. Good luck.
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540
We’ve been successful in refinancing peole out of our wraps by offering a zero cost refinance to them. We had plenty of profit in the transaction so the cost was relatively small and gave us access to our profit. We did however insist that this was a once only, not to be repeated, promotion that had to be taken up in 4 weeks from notification.
We only had to do this for a number of our early wraps where we hadn’t built two to three year interest rate honeymoon periods into the Instalment Contract.
Also, we’re in NSW so Stamp Duty is paid going into the wrap by the wrapees. As you’re in Vic, I guess you’d have to exclude the Stamp Duty cost from the “free” promotion.
Good luck.
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540
Karen and I have built what we regard as a successful vendor finance business using Rick’s product and his mentorship. I couldn’t agree more with Dr X. It’s definitely “what you make of it”.
I’d suggest you have a look at the following resources to try to get a bit more information on Vendor Finance, before you start disposing of your blocks: http://www.financewraps.asn.au – The Vendor Finance Association of Australia
Karen and I operate mainly in NSW and Qld. In NSW we use Tony Cordato for our contracts, including Rent To Owns (a lease and an option to purchase). In Qld we use Paul Brennan.
Good luck.
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540
Hmmm, not to far away from giving up the 9 to 5 because of the business we’ve build with Rick’s help and every one of our clients happy to give referrals.
Gee it’s a bugger being brainwashed
Cheers, Paul
Paul & Karen Dobson
negative2positive
Turn your negatively geared property into positive cashflow.
Phone: (02) 4984 9540