All Topics / The Treasure Chest / 3 way investment (Family)

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  • Profile photo of susieq22susieq22
    Member
    @susieq22
    Join Date: 2003
    Post Count: 23
    August 6, 2003 - 5:30 am

    Hi, Would love to get your thoughts! Have built a large 6 bedroom house with my brother and wife (and we all get on well[:)]
    The value of the house in 3 yrs in Brisbane has doubled and we are all looking at using the equity to invest in property. Should we start a company or just stay as equal 3rd in all that we invest in?
    Any thoughts [8D]

    Profile photo of SaskatoonSaskatoon
    Participant
    @saskatoon
    Join Date: 2002
    Post Count: 112
    August 6, 2003 - 1:01 pm

    Hi susieq22,
    a company is probably the WORST structure in which to buy investments! To find out why this is so do a search on this forum, and on the Somersoft forum. (Look in the Useful Links posts).
    Take a look at http://www.chrisbatten.com.au, and http://www.gatherumgoss.com.
    As a general rule any joint investments in real estate need to be through written contracts between the investors, perhaps even more so with family or friends!
    Terry

    Terence McMahon
    HomeWin
    Finance

    Profile photo of susieq22susieq22
    Member
    @susieq22
    Join Date: 2003
    Post Count: 23
    August 6, 2003 - 10:45 pm

    saskatoon(Terry)
    Thanks for your reply…
    Thankfully we did have a contract drawn up between the 3 of us for the house we built.

    Sue

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