Trust Structure and Mortgage Broker advice

Hi Danny

Firstly welcome to the forum and I hope you enjoy your time with us.

Your post has a number of questions so I will try to give you an overview.

Firstly in regards to accessing equity from your existing property subject to a current valuation and an acceptable loan to value there is no reason why this can’t be done.

If you were a client of ours we would start by ordering a valuation on the property to assess the current value and once this was back we could see what could be released.

The property Title is in your personal name so the equity loan would also be in the same name.

If you intend to purchase your next few properties using your Family Trust then these loans will be in the name of the Trust also (I will assume you have received advice in regards to purchase your next couple of properties in the name of the Trust).

As far as a local mortgage broker most of us operate Australia wide as most applications are submitted electronically and the relevant Credit advice and processing can be done by email and the odd phone catch.

I have a number of forum FIFO clients who are working in NW WA who I have acted for for years helping them structure their portfolios but have never met them face to face.

It all depends on what your comfort level is. Many clients lead busy lives and prefer email communication.

Just make sure your broker has some idea about investment loan structures and is a property investor themselves.
Nothing like getting advice from someone who has never purchased an IP and is still paying off their own PPOR.

Cheers

Yours in Finance

• This reply was modified 9 years, 10 months ago by  Richard Taylor.

Terryw wrote:

e process of setting up a trust at the moment and want to know the best way to structure it and also if I should create a business which controls that trust for future tax reasons??

+1

If going down the trust route get good advice from someone with real residential property investing experience.

I have no affiliation with Terry and I am not an ongoing client of his but I have previously paid him and his business partner to provide structuring advice (so I could cross check with my own accountant/advisor) It was TOTALLY worth the money.