I would love to hear from anyone that has purchased 20+ properties, and what their biggest hurdles were on their journey starting out. I’m hoping to avoid common unforeseen mistakes.
please Feel free to correct me if I’m not making sense.
While listening to a podcast today I came across a lending product called a “portfolio package” from the private/business division of the bank.
Would using this portfolio/investors package from the bank be cross collateralising the assets? Which I’ve been told is a big no.
I am writing to see if anyone has had recent experience in building their own large networks of real estate agents in the hope of purchasing off market undervalued properties in a short amount of time. Is there a network of agents I can reach out to in the hopes of getting on a list to see deals before they hit the market. Or is paying…[Read more]
Another solution would be to pay myself less thru the company, then see if the bank would accept an “add back” of the company profit (taxed at a lower marginal rate).
I should also mention, I am the director of my own Pty Ltd company, so I have the benefit of being able to allocate my funds before they’re fully taxed.
I would appreciate if anyone could please help me with this question or advise me of anyone that could. I apologise in advance if this doesn’t make sense.
That’s for the reply guys.
Thats exactly what I was thinking @benny & @terryw .
I thought it may be a quicker process for me to gather a couple of properties in my individual names, but will stop me growing anything substantial fairly quickly.
This is my first post in the forum. I’ve just completed both of @stevemcknight books and was interested in the structures he used to grow large portfolios. I understand he purchases in trusts for assets protection and borrowing capacity.
Ive recently been in contact with some buys agents in the Sydney area that are know to have over 1…[Read more]