Hi Tim

What about the land? Was it a house and land package or did you build.  

Hi, it depends

You could have
ABC Pty Ltd atf ABC Family Trust
ABC Pty Ltd as trustee for the ABC Family Trust
ABC Pty Ltd as trustee under instrument
ABC Pty Ltd   (as ABC Pty Ltd is the legal entity that owns the property, although the equitable owner is the trust, however some documents required you to indicate if the company is acting in the…[Read more]

Careful with setting up trusts online.  Many, many people stuff it up.  If you don't get it right it is expensive to fix.

We setup companies and trusts constantly but also have the advantage of pulling people's structures apart in civil litigation which really gives you a great insight into what to do and what not to do.

Accountants can set up…[Read more]

I am a huge fan of commercial, but only certain types.

AND you need to be able to wear periods without rent, vacancies can be longer in a lot of commercial types.
Rent can be greatly influenced by where we are in the economic cycle also.

Structures will depend on the state and your goals.

Company are not usually good for holding property…[Read more]

FYI

3 storey approval for units just went through near the hospital in Greenslopes.  Have pre-lodgement about putting another one through this week.  

Densities are up.

D

Half the houses in inner Brisbane would have some level of asbestos in it, the other half used to .

We are doing  a lot of OTP contracts at present.  They are really aimed at protecting the seller.

I assume the properties are held personally?

You may be able to go the spruiker for various misrepresentations, but if they are not clear cut it can be expensive and if you lose they can go you for costs. 

You need to sit down with a lawyer and get them to best extricate you from this situation.  They may be able to negotiate an outcome where…[Read more]

Cheers Rob

I can still remember when 405 blocks were hard to sell in some areas.

I think that they offer a great way in to inner city market and no body corporate issues.  

Lucky NSW people

In the majority of Council areas in Qld that would be termed a Multiunit dwelling, regardless of the built form.  In a unit you would probably be ok, in a house Enforcement Notices, lawyers and town planners will become your friends.  Messy and expensive stuff that kills your rental return.

The Neighbourhood Plan really ramps up the density in some parts of Nundah.  Don't rely on the zoning

Also, check out what is happening soon by looking at the City Plan 2012 maps

http://www.brisbanecityplan2012.com.au/cityplanzonemaps.html

I had a nervous phone call from one of those not legal h/height ones this week.

It is ramping up if anything.

We have had 4 new show cause or enforcement notices this week from new suburbs, 
Rocklea
Eight Mile Plains
Indooroopilly
Wilston

Previously we could pick up a pattern, the suburbs where in the same area or houses built by the same…[Read more]

If the  wooden boards you refer to are vertical joint boards, then they are a character feature that people pay money for.

If it is wooden cover strips over large flat rectangles than it is probably asbestos.  

What area are the houses in, that will make a difference with value

Hi Swami

Would be either home business or small non residential use currently.

Renting out separately later on, unless you got a commercial zoning, would be a multiunit dwelling.

D

Hi

Basic overview.
Older properties were not strata titled but were owned by owners corporations, a company that owned the whole property.

To be able to live in an actual lot you buy shares in the company, not the actual lot.

D

Hi Clintron

It sounds feasible from a planning perspective.  It depends on the state you are in, but in QLD for example you can build the house post approval but before plan sealing.

Remember to include infrastructure contributions in your figures, can be up to 28,000 in Qld for a resi lot.

Always better to at least scribble out in writing…[Read more]

And all part of the reason that you need to make sure you have 

a Great Finance Broker
a Great Accountant 
a Great Lawyer

trying to save money by doing part of it yourself or utilising professionals who have not done it themselves can often end up costing you more money.

Hi Terry

I agree with bankruptcy Trustee and also liquidators, they seem to miss a lot and sometimes their understanding of structures is poor.  Been a bonus for my clients thus far.

Hi Richard

If you are in Sydney go see Terry W on here.  He has a couple of weeks wait time at present, but well worth the wait.

D

Hi
Can work great.

Key things:
1. Unitholders agreement

This deals with the interactions between the parties and how to deal with any issues that may arise.  Qutie extensive and because it outlines how things happen in different circumstances it greatly reduces risks of fights.

2. Entites that Hold Units
I would normally draft the unit holders…[Read more]