I’m sorry to hear that.

I’m a bit confused on what product you invested In but as I understand it you did not take direct 100% ownership through your trust rather invested in fractional or syndicated ownership?

Was there a PDS or an IM and an application or was it a Contract of Sale with a S32?

HWL Ebsworth Lawyers would be my recommendation…[Read more]

Also if you buy direct from the developer (including via one of the big builders) the most the commission that will be being paid is 3% no different to established real estate. That said a builder referral of a couple thousand might be being paid. The only time your paying $30k+ commissions is when you buy through marketing groups (often being…[Read more]

@soupy

Developers don’t rarely get land from farmers for nothing and make millions. Unless your name is Facey (jokes).

Do developers typically make between 15-30% returns, yes. Do they risk millions to do this. Yes. Is it the glory business it once was. No.

The biggest winners in development are local council, SRO and ATO.

I personally…[Read more]

Thanks Terry you raise some valid concerns. I will consider these further. Can you recommend a Melbourne based lawyer than understands property investing, tax and structuring?

As the appointer of the trust I can remove the corporate trustee and elect a new trustee.

Am I missing something here? I thought this was as bulletproof as it can be. I do agree my wife and I need to do a will and I will ensure on her death the shares transfer to me and on mine she takes over as appointer and director, and in the event both of…[Read more]

Sorry for the confusion but there are not two directors on any of the trusts mentioned.

Example A Trustee company
Dir – Husband
100% shareholder – wife

Example B Trustee company
Dir – His wife
100% shareholder – his wife

If in both examples the male is the most likely to be sued and all personal assets are in the wife’s name which is the best…[Read more]

Hi Terry

I have been running a FT setup for years with a company trustee. I am director and wife is shareholder. In your experience is this the right way of setting it up, I am most litigious and have no assets. Any family assets are in wife’s name. Reason I ask is a friend of mine has it set up with wife both director and shareholder, but his…[Read more]