I’m pretty cashed up and own my home. I want to start building a residential property portfolio. What vehicle do I use to buy future houses – company, own name, joint names???
Hi,
There are many structures available for purchasing an IP, some of which you mentioned. Discretionary Trusts or Hybrid Discretionary Trusts have been discussed many times on this forum. I suggest you do a search for these topics and have a read.
BTW, I’m looking to set up a Trust for my IPs, just need to source a little more info. Most of the info I have found to date came from this site.
Also, the “Wealth Guardian” product gives plenty of info on setting up your structure. Have a look ing the ‘Resource’ section on the menu bar. (no I don’t get commission [
])Cheers.
sindone & DRAM,
I highly recommend Steve’s Wealth Guardian as a great starting point to explain all the different structures and then get hold of an amazing book called Trust Magic available in the book section API Magazine. Or at http://www.gatherumgoss.com/
They are both must reads for anyone thinking about there structures.
Cheers
Leigh K[]Read, learn, grow but most of all just do it.
Hi Sindone,
I’m in the same boat , but however I’m in the middle of a contract for my first IP and wanting to find out more about trust. I plan to buy more IP’s in the future.
Can someone out there please explain that if you were buying in the trust name , you would have to pay land tax. How much is the setup fee for a trust account and the running cost?.
Thanks in advance
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