Hello everyone,
This is the first time I have actually created a new topic, sorry for asking for advice on my first “new” topic. O.K.:
I have my business- J Enterprise Group. Doing data/comm’s etc(as per signature). I created this business to get some cash flow going and have a business so that I could show a structure to the banks to obtain funding borrowings for my renovations. I love renovating and it is what I am now focusing my attention to once again.
J Enterprise Group is simply the business name, the enitity is a trust- J Enterprises Trust. I buy the properties to renovate under J Enterprises Trust. Any ideas on how I should be structuring it?
I would like to use my jenterprisegroup.com.au website to also post info on my renovations and investing for the interest of people like yourselves. No profit, just to help give ideas and show people what I do.
Legally- how do we go in the renovating world when it comes to being licensed? I do everything on the places bar gasfitting and building the kitchens and glasswork, maybe a couple other things. I do minor building, painting, plastering, electrical(licensed), data/comms/telephone/antenna(licensed), security(licensed), minor plumbing, most other things involved in property renovation. Any word on the legislation in regards to renovating and then renting or selling?
Any ideas/advice on any of this would be of much help.
Thanks all…..[cap]
Jarrod.
http://www.jenterprisegroup.com.au
data-security-communications-entertainment systems<- home networking and home theatres- talk to J first!!
*Technology Consultants*
Brisbane.Gold coast.Sunshine coastHave been in touch with Office fair training QLd, hope to hear from there within the next couple days. Will be talking to my accountant tommorow and BSA to see what they come up with.
Too much passion for property to not be getting into it!
Jarrod.
http://www.jenterprisegroup.com.au
data-security-communications-entertainment systems<- home networking and home theatres- talk to J first!!
*Technology Consultants*
Brisbane.Gold coast.Sunshine coastJ Enterprise Group is simply the business name, the entity is a trust- J Enterprises Trust. I buy the properties to renovate under J Enterprises Trust. Any ideas on how I should be structering it?
This is a very general question and difficult to answer with the info given.
Things to take into account are
– Reno and hold or sell?
-Keep long term investments seperate from short term(under 12 mths).
– Keep your business seperate from the IP’s.
– Company trustee is better.Some things to think about. As for the rest I can not help you.
Hope this helps
CATA
Asset Protection Specialist
[email protected]Office of fair trading’s response_ I think I had best be making some other calls:
Dear Jarrod,
Thank you for contacting the Queensland Government.
With regard to your enquiry, under the Property Agents and Motor Dealers Act 2000 all property developers who complete more than 6 residential property sales in any 12 month period must be licensed.
You will need to contact Smart Licence on 1300 363 711 with regards to any licences you may require for carpentry, plumbing etc.
I hope that this is of assistance.**********
I gave them a fairly detailed explanation of the plans too, oh well, still many a call to make.Jarrod.
http://www.jenterprisegroup.com.au
data-security-communications-entertainment systems<- home networking and home theatres- talk to J first!!
*Technology Consultants*
Brisbane.Gold coast.Sunshine coastHey Jarrod,
Cannot comment on the structuring issue however would be interested in responses as it is something I looking to embark on over here in Perth.
As for licensing, what are you referring to? Is the personal or company license for all your projects (Builders license) or license from local government authorities for specific projects?
cheers
Jan
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