The choice is yours alone McHenry. Structure or not, both advantages and disadvantages.
CATA
Asset Protection Specialist
[email protected]I agree Henry.
No point in having the best structure in the world if you cant borrow enough money to actually complete a deal.
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
A brabd new trust can actually get finance up to 95% easily. If you are looking at low docs, then you would need to prove that you are self employed for 2 years. The trust can be brand new however. You can prove you are self employed by your existing company.
It should also be possible to get 80% LVR on a low doc with a company as trustee.
One more point, you probably should not use your existing company as trustee, as any claim against the trust would effect the company – which could be bad if it is trading.
Terryw
Discover Home Loans
Parramatta
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Now we’re talking Terry…
So, as I am self employed and have been for years I should be able to:
a) register a new company & ABN
b) register a trust with the new company as trustee
c) obtain finance at 80% LVR (low doc) for the trustThis sounds great, thanks.
Yes
Terryw
Discover Home Loans
Parramatta
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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