Chan & Naylor – finance and structure review

Hi
I can assure you that the type of advice we give is not "simple stuff". We are an Accounting Firm that specializes in Creating Wealth through Property Investing and structuing your affairs correctly so that you can use your assets to their full potential.

Everyone is different so the advice you will recieve will all depend on your goals, family situation, income and what your priorities are.

The best thing to do, would be to contact our office and ask us directly.

Hope I have been of some assistance.

I went to one of these a few months back and do question the value of them. In short, it felt more like a one-on-one seminar where I learn a tonne and got to ask every question I could think of.

In short I think the title is misleading. It most certainly was not a financial health check. A more accurate description would be, "One-on-one PIT seminar". But that kind of honey doesn't attract the bees I guess.
Is it worth it? Hmm, not sure. Sorry, but it all depends.

To put it in context, here is some background on my situation and experience, I expect this may help you compare and contrast to make your own judgement;
We are new to property investing, have read alot and talked to lots of people and are just now taking the first (I think most important) steps.
Read all the Chan and Naylor Books, was very impressed and motivated by them.
Read Steve Mcknights books and was very impresed and motivated. But don't really have the time it seems to require at this point.
Read "Trust MAgic" by Dale Gatherum-Goss and thoght I was getting an insight into the inner-circle of wealth. This stuff is very impressive and has convinced me that although trusts can be complicated, they also provide significant benefits for the very wealthy. There is no reason why average folks shouldn't access the same benefits. I very highly recommend buying this if you are really curious about what can be achieved with trusts. It is a real eye-opener.
One, PAYG, high-income earner (200k+) with spouse and 1 dependent.
No debts to speak of (will settle on PPOR soon, so that changes a little now)
Clear 10 and 20 year financial goals and agreement with my spouse. Also very keen on setting up a wealth base we can pass on to our family in the distant future. This is the strongest motivator for me and will keep me going.
Really looking for the mechanics of how to get the foundations right now.

Summary of key C&N healthcheck meeting I had;
thjink I paid $395, consider it a little on the rich side but I think I got most of the value extracted.
The accountant was a property investor, very experienced and did know what he was talking about with regards to property.
This is all about the PIT (Property Investment Trust) is their product to push. They take you through exactly how it compares and contrasts with other trust and investment structures.
I left with paperwork fille doubt ready to go for the PIT. So it is a strong "motivate to buy" kind of sell.
Accountant didn't really know about the more complex aspects of Trusts such as those described in "Trust Magic". In fact, I taught him a few things, enough for him to warrant investigating. This was disappointing to me as I expected them to have knowledge of this stuff and how it can be applied to the PIT. So a little confused.
Worked through some financial models of  property price doubling, living on equity, 
I asked lots of questions, I think this is the key. I went in prepared with about 30 questions. Most of which I got answers to. Don't leave until you get those answers!
I took along alot of my financial info thinking it would be examined for the "health check".None of it was even looked at and he didn't show any interest. This was a black mark against what I expected.
Overall, ok. Enough for me to probably go ahead with the PIT early in the new year with my first investment property.
How many PITs? This is largely aligned to the state you are investing, land tax thresholds and how they apply to Trusts. I need to check but, I think in QLD we try to squeeze in around $400K in land value into each PIT before starting the next.
The PIT fits extremely well with the very long-term plan I have in mind. The Trust never divests, even after the normal 80? years, so no CGT in 40 years when we clone out or transfer to descendents. And so forth. Keep in mind that I am thinking a family financial dynasty, this very long-term thinking is rare and probably not the same as you. For some reason it rings my bell.

My advice to you is if you have the time;
Read the C&N Wealth Books.
Read Trust Magic
Then decide where to go next.
If you do go to C&N, make sure you put together that list of questions.
Consider going to some other seminar or property/investment accountant.

Feel free to ask me any questions, I may be slow in responding as I am dealing with relatives…….long Christmas.

Emptyvessel