Hi,
My partner and I are currently building a house est value 300K which is expected to jump with several large development being built, (New train station and estury.) The loan is 215K.
My questions are am I still able to by investment properties and would it be wise to do it under a business instead of personal?
As I am rather young and very new to this any advice would greatly apreciated.You should probably be looking at trusts rather than ‘business’. I think this is just a generic term, you have either indivifual name(s), company or trusts to use to purchase property.
Whether you can buy more properties would depend on your income as well as equity.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Shawn,
I would set up a Trust if I were you and have all your properties under it. Speak to an accountant in regards to this.
The est. value is $300k. Your loan is $215k. This means that you’re putting in the deal $85k as deposits which thus means that you’ll have some good equity in the deal which means that yes you’ll be able to purchase more properties. Let’s not forget that the property will jump in value according to your predictions of fuure developments whicl further means more equity.
Best of luck.
Kind Regards,
George.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
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