Forum Replies Created

Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of sulosulo
    Member
    @sulo
    Join Date: 2004
    Post Count: 15
    May 4, 2009 - 8:06 pm

    Thank you Terry for the link. I do need to get my self up to speed in this area as I cannon rely on the the advice given to me….

    Profile photo of sulosulo
    Member
    @sulo
    Join Date: 2004
    Post Count: 15
    March 22, 2009 - 1:40 am

    Hi Linar,

    Very good point. Your opinion is highly regarded. Thank you.
    Yes I agree, cash is king atm and I will go back to my research stage until the next one comes along.

    You mentioned "We have already bought a subdivision that the developer can't afford to finish off " may i ask where you find such projects?

    R

    Sulo

    Profile photo of sulosulo
    Member
    @sulo
    Join Date: 2004
    Post Count: 15
    March 22, 2009 - 12:25 am

    Hi Adrian,
     
    Based on my Accountant's advice, I have just set up a DT myself.
    I'd say if you were to get into it property game seriously, setting up a trust it is the way to go. For instance, if you buy more than 3 properties or if you have a large portfolio of properties.

    Short term hardly any gains in setting up a trust, long term it will give you:
    flexibility in terms of income splitting.
    It will reduce the litigation liability.

    Otherwise keep it simple.
    I would only set up an  ABN once you can clearly see the advantages of using a business name. I don't think ABN gives you a great deal of TAX claims as appose to personal tax returns.

    I would only registers for GST; once I reach the threshold that is set by ATO, otherwise why create more work for yourself?

     
    Start small and think big. Plan now and go with options that gives your more flexibility in the long run.
     
    This form is great as source of information.
     
    Good luck.

    Sulo G

    Profile photo of sulosulo
    Member
    @sulo
    Join Date: 2004
    Post Count: 15
    March 11, 2009 - 9:50 am

    Setting up on ATM in Brisbane.
    My 1st prefrence was to set up a Hybrid DT.
    However, due to my time stringent lines (i have already put an offer in under my name and my accountant asked me to buy the house under the trust), I just had to go with a plane vanilla form of a DT.

    Does anyone know the pros and cons between Hybrid DT and DT?

    My DT AKA Family trust cost me $550 to set up. (well that's what they have quoted me)
    You can buy them online for cheper. However, i am reluctant to go that way due to my limited knowledge in that area.
    I don't mind paying for good advice and I only deal with people who make money out of me! :-)
     

    Profile photo of sulosulo
    Member
    @sulo
    Join Date: 2004
    Post Count: 15
    January 16, 2006 - 8:04 am

    Interesting discussion.
    I am and have been looking into this for few weeks now… In my opinion, most of the land and house packages are tend to be away from the city of Melbourne and you do pay a bit more than the average price.

    I am new to Melbourne; I was told you can buy something affordable with in 15KM radius of the city. (Not brand new)

    Ideally, I would look at getting a deposit and buying something near the city as it would be most likely to appreciate (With in the next 5 – 7 years) and more likely to rent out.

    Sulo

    Profile photo of sulosulo
    Member
    @sulo
    Join Date: 2004
    Post Count: 15
    January 30, 2005 - 10:08 pm

    YIP Soo agree.

    I have been a member for the past few months and i have learnt much more that what i would in any seminar!!!

    I help out as much as i can and peple help me out, its a good system.

    Thank you all……….. ;-)

    Profile photo of sulosulo
    Member
    @sulo
    Join Date: 2004
    Post Count: 15
    November 25, 2004 - 6:43 pm

    Good decission.
    I was under the impression the seller’s solicitor has to meet up with the buyer’s solicitor. Choosing local helps.

Viewing 7 posts - 1 through 7 (of 7 total)