Thanks very much for that!

Yes it is a good idea Read my lips!

I’m thinking about writing my own software, PS I was at the richmastery seminar last night in Canberra.

I would think that as its only an offer, its completely up to you. Until you exchange contracts, they cant hold you to anything surely?

If you setup a discretionary trust it is at the discretion of the trustee, if you make yourself the trustee that would be you.

The beneficiaries would only receive the benefits that the trustee decides to give them.

Thats my interpretation of the information that I’ve heard anyhow

As it will be used to aid you generating taxable income it is deductible in my opionion.

Mail sent..

Stuart,

Thanks for your advice I also consider speaking to random franchisees a key consideration in the due dillegence process, and I will defintely be doing this.

Once I have spoken to several franchisees, and provided I am satisfied with what I hear, I will then get my accountant to advise me on the fiancial aspects of the deal, and determine…[Read more]

John,

I agree that I should speak to other franchisees this is a very important point.

The reason for wanting family involved is that the particular franchise I am looking at does not look favourably upon ‘managers’ being employed and the owner not taking the management role themselves.

I want to continue working in my highly paid contracting…[Read more]

Fools and their money are soon parted

I signed up for the wrap seminar live yesterday, lets hope im not a fool for doing so

Scott,

Sounds like a great way to start out if you have the time available. I wish I did but as a contractor im quite often at work 7 days a week

Thus my idea of getting someone else to do some of the legwork for me. On another point if anyone knows the number for a good accountant and lawyer who is familiar with lease option and wrap…[Read more]

Brent, I agree and I will specify my parameters:

– 2 & 3 bedroom properties only
– value under 120k
– regional area with low unemployment level
– high rental / value ratio

I’m thinking along the lines of lease option or wrapping, so cash flow is more important than capital gain, long term capital growth would be a bonus.

Has anyone thought of using a foreign trust or company that is located within a tax free haven to purchase their property?