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  • Profile photo of cotscots
    Participant
    @cots
    Join Date: 2002
    Post Count: 4
    January 28, 2003 - 12:12 pm

    Hi all

    This is my first post so here we go:
    I have 2 inv properties at the moment, only 1 is positive & working hard to turn the other 1 around. My accountant keeps telling me it is not necessary to set up a company (trust) for investing. I attended the Property masters Seminar in Sydney in Nov & Steve further highlighted the need for this type of structure.My goal is to purchase another 4 properties this year. Does anyone recommend a good accountant( I live in brisbane)? What are the thoughts on Quantity Surveyors? Any help appreciated.

    cots

    Great site Steve, Congatulations.

    Profile photo of TopnotchTopnotch
    Member
    @topnotch
    Join Date: 2002
    Post Count: 15
    January 28, 2003 - 1:19 pm

    Hi Cots,

    Everything that I’ve heard tells me to use a structure of a company with a discretionary trust which is primarily designed to protect you in case of any legal problems and also to have the best taxation advantages.

    I now use International Professional Services at Australia Fair, Southport. They are well versed in the speciality situations we are involved with and a pretty switched on crew.

    There may possibly be cheaper options but these guys walk the talk. MD is John Illingworth.

    Topnotch
    On The Sunshine Coast Of Queensland Where Our Bones Are Always Warm

    Profile photo of ADAD
    Participant
    @ad
    Join Date: 2002
    Post Count: 636
    January 28, 2003 - 1:21 pm

    Hey Cots,
    I actually use an Accountant in Melbourne nad live in Brisbane. He is very knowledgable when it comes to property and is a nice guy. He writes in the API Magazine…Q&A section.
    If you want to know more drop me a line.

    Enjoy
    AD [:0)]

    Success is not the result of sponataneous combustion. You must set yourself on fire.
    Reggie Leach

    Edited by – [email protected] on 28/01/2003 10:28:31 PM

    Profile photo of RobJaniceRobJanice
    Member
    @robjanice
    Join Date: 2002
    Post Count: 27
    January 28, 2003 - 4:17 pm

    quote:

    What are the thoughts on Quantity Surveyors? Any help appreciated.

    A quantity surveyor will be able cost depreciatable items for you.This can then be supplied to you accountant.

    It depends on whether you are buying new or older places ,whether you are buyin to hold or just resell . Whether or not you even want to claim.

    Cheers
    Rob

    “A bank is a place where where they lend you an umbrella in fair weather and ask for it back when it begins to rain

    Profile photo of savanna100savanna100
    Member
    @savanna100
    Join Date: 2003
    Post Count: 11
    January 29, 2003 - 5:45 am

    Hi, this is my first post ever in the forum so here goes……….

    We had trouble getting a QS for our second IP. I asked around at “Freestylers” (I’m an ACT member) and we also rang the Institute of QS and fianlly came up with a name. They seemed to do very little for their money (about $420) and got us less than I expected. If I have to do another one, I may look into whether I can do it myself as I have been trained to price building works.(I’m an architect but don’t practice as one anymore). I reckon that just using “Cordells”, (a building price publication) as most QS do when pricing a building, you would get a rough idea of what you could expect.

    I wish you luck, the task of finding someone suitable is not easy.

    Savanna100

    Profile photo of cotscots
    Participant
    @cots
    Join Date: 2002
    Post Count: 4
    January 29, 2003 - 9:16 am

    Thanks for your reply guys:
    Savanna you mention “Cordells”, is this avail in Bris? If so how do I get hold of a copy.

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