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I have a lot of relatives in Ohio & LA. I'm trying to find out as much as I possibly can about the location and planning to visit them around next school holiday. I will also try to have all my finance ready before I go. My cousin seem to like the idea of me investing property there and he is quite willing to do business with me.
I don't quite like the idea of doing business with relative but if I have no other choice may be.
Anyone know much about Ohio and LA, any suggestion or any specific location I should look into if I am there.
Mr5o1 wrote:Terryw wrote:Ask if he thinks you should use a trust, and if so which type of trust.Then ask for his reasons why you should or shouldn't use one.
couldn't agree more… but just to add to that, before you go ahead and decide to create a trust and purchase an IP with it, talk to your accountant about the ramifications of the trust for negative gearing.
Yes, thanks for the idea. I will definitely check it out with this accountant regarding the negative gearing. I can't seem to quite work it out which one benefits me more or should go for (trust or buy under my own name). I do not believe you can have negative gearing if to set up a trust.
Terryw wrote:Ask if he thinks you should use a trust, and if so which type of trust.Then ask for his reasons why you should or shouldn't use one.
Thanks for the suggestions Terry.
I've seen an Accountant from C & N, he suggested that I should use a trust (Hybrid trust) for asset protection purposes.
I've spoke to my Accountant who is not specialize in property but he own a couple of investment properties himself. He didn't think it's a good idea to use trust.
I'm going to see this Accountant this week who is specializing in property as well. Then I will gather all the info I got and see what is best for me.
I like the ideas of asset protection and no stamp duty if I pass the property on to my children. I'm not quite sure about the 30% company tax.
Anyway, thanks again Terry.
Tina
Hi
Try this broker, I have done a few loans with him and still is going through with him now. I find him really helpful. I gave my senario to other brokers and they can't do (i.e. approve the loan) except this guy. His name is James & his number is 9803 3040 his mobile 0403 466 486.
Good luck.
Tina
Hi
I attended a free seminar held by Guests Accounting early this week regarding the latest changes to trusts and find it quite useful.
I'm going to have a free consultation with one of their Accountants next week.
You might want to do the same.
I've seen C & N but I want a second opinion and that is why I am seeing this Accountant.
