All Topics / The Treasure Chest / Property Investing savvy Solicitors & Land tax

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  • Profile photo of nadinenadine
    Member
    @nadine
    Join Date: 2002
    Post Count: 1
    April 1, 2003 - 12:00 pm

    Hi there
    I am a new investor with one property – finally got LOC approved to buy more – I need to create my “team”. Does anyone have any tips for finding a solicitor? Should I have a different one in each place I am investing or have my own in Sydney where I live. Can anyone recommend some good ones or is that a no no? Of course I would check them out myself…..

    Also – regarding land tax – when is it payable on with a wrap deal? (assuming it is owned in my name)?

    Thanks in advance for any help![:D]

    Profile photo of quasimodoquasimodo
    Member
    @quasimodo
    Join Date: 2002
    Post Count: 100
    April 3, 2003 - 7:30 pm

    Hi Nadine!

    Welcome to the board!

    As to finding a good solicitor, foremost I’d look for one with experience in the area you’re looking at (eg wraps) or failing that, someone who at least is open to the *possibility* that it may be doable. In Sydney you can check out Tony Cordato (his website is at http://www.businesslawyer.com.au and the number is (02) 9290 2773). I’ve had a couple of friends say that he’s not particularly speedy with actually finalising actual deals, however my partner and I went to him and for $300 he sat down with us for 2-3 hours explaining the legal ins and outs of wraps (including FHOG) and provided us with a full legal contract for doing them in NSW. It was time and money most excellently invested. I only wish I’d thought to take a tape recorder or massively more notes! I will warn you his manner is slightly odd, but he knows his contract (which is used by John Burley) inside out.

    Have fun!

    Quasimodo

    __________________________________________________
    It seems to me that action has a most magic way of answering all the questions our fearful mind tries to throw before us…
    __________________________________________________

    Profile photo of ADAD
    Participant
    @ad
    Join Date: 2002
    Post Count: 636
    April 3, 2003 - 11:27 pm

    Which part of Australia are you in Nadine ?? People may be able to give you more direct answers if they know where you come from.

    Enjoy
    AD [:0)]
    (Andrew)

    “”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
    Albert Einstein

    Profile photo of nadinenadine
    Member
    @nadine
    Join Date: 2002
    Post Count: 1
    April 4, 2003 - 4:20 am

    Thanks for your help Quasimodo and AD. I have spoken to Tony Cordato a couple of years ago and obtained a contract from him at that time. I was just wondering whether people were using anyone else.(Not that I had any problem there) I am based in Sydney.

    Can anyone help me with the land tax question?

    Nadine

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