A friend and I are almost ready to begin investing.
We are both single females with no dependants, good incomes and with equity in our own homes.
As yet am not sure how to set up this partnership but as far as I can gather unit trust would be the way to go.
I would appreciate any comments for/against this idea.
The other dilema is +ve or -ve CF??
Thanks in advance
KiaraHi Kiara,
Depending upon your individual circumstances you could also consider a tenants in common arrangement where it is possible to apportion ownership according to your levels of contribution. TIC shared arrangements are possible from 99%/1% to 1%/99%.
There are a couple of trust related books you may find of interest; Trust Magic by Dale Gatherum Goss and Trust (?) by Renton. The latter is a little heavy going late at night.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Thanks have sourced the former on the internet, looking forward to a good read!
Tennants in Common is the way to go. I know two girls on the Gold Coast buying up near beachside property, ripping it down, making duplexes with a 50% interest. One at a time, no need for the trust venture (although I would consider it if you wanted to protect yourself from future partners. Trusts are good when you have a family.)[biggrin]
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