All Topics / Help Needed! / 4 people want to get into business for property investing

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  • Profile photo of SavSav
    Participant
    @sav
    Join Date: 2008
    Post Count: 32

    We want to start a business but we dont know where to start with the financing because we dont have any collateral. What should we do because we got a good investment stradegy written down but dont know how to get the finance.

    Profile photo of ducksterduckster
    Participant
    @duckster
    Join Date: 2004
    Post Count: 1,674

    You really need a have a joint agreement through a solicitor to cover every situation and set up a trust account.
    Then you need to save the money to build up the collateral. Probably then buy a property through the trust or as tenants in common.
    You may need to look at a hybrid unit trust so that if someone pulls out you just pay them out by buying their units in the trust.
    this may help
    http://www.businessmall.com.au/store/viewItem.shop?idProduct=110 Article on joint ventures

    I haven't done this type of thing but read a lot !

    Profile photo of SavSav
    Participant
    @sav
    Join Date: 2008
    Post Count: 32
    duckster wrote:
    You really need a have a joint agreement through a solicitor to cover every situation and set up a trust account.
    Then you need to save the money to build up the collateral. Probably then buy a property through the trust or as tenants in common.
    You may need to look at a hybrid unit trust so that if someone pulls out you just pay them out by buying their units in the trust.
    this may help
    http://www.businessmall.com.au/store/viewItem.shop?idProduct=110 Article on joint ventures

    I haven't done this type of thing but read a lot !
     
    How much money do we actually need to finance a 800k development dead and how do we get the 800k loan in the first place?

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