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Agree with devo above. Important to weigh up costs (even if looking to enter a better deal) of sale and more importantly entry costs again especially stamp duty. Also on the way out does the CGT consideration (as relevant) still make the future purchase enticing.
Whilst I'm generally one to hold, my situation also allows that I have two pre-CGT properties (aside from our PPOR) that I will sell one day to pay out all IP debt accumulated to that point………and then some
. That's about another 10 or so years away, so at least one and possibly two property cycles away. Might even stagger the sale. Sell one after one cycle and then sell the other at a future point.WJH above also makes a valid point about educating the eventual heirs and beneficiaries about being savvy enough to manage a portfolio. My wife and I have an understaning that we are not bringing up our daughter to be a fool. At 8 years of age she has had some introduction to our portfolio (although not all our IP's) and helps me source potential purchases on rea websites and also google earth. She understands the notion of value in well located infill land as a commodity. She already saves a percentage of any money she receives and has been well versed on the Richest Man in Babylon notions of paying one's self first.
It is important to walk our talk and as well as leaving a legacy in the form of physical assets, to also lead by example and if all else fails………….control it all from the grave by way of tight testamentary trusts.
passion99 wrote:I did his program about a year ago, have increased my wealth by securing $1million dollars worth of property using an option and made $20k in the last year through trading, and increased business income by $10k.Small increases thought would not have come about if i didnt do the program.Heaps of people have crap to say about heaps of programs, i learnt one thing so it was worth my while.No one in the world can guarantee you 1 million, but Roy got damn close.
Just thought i would shed some light on the crap storm above
…….And this had to be your first post having just joined today. How far back into the archives did you have to go to dig up a thread that hasn't been contributed to for nearly two and a half years?………………….
Richard,
there's probably a better market for the steaks than the real estate market in that beast.
The LPT investment is like buying shares in Westfield or Centro (for example). This can be done in your own name, or in a company or in a trust.
I think you may find the PIT that Chan and Naylor set up for you is quite specific in the Trust Deed that it can only invest in property. The purchasing of LPT's are like buying shares and may contravene the trust deed's rules. Please check with them to clarify this.
Their PIT deed allows direct property investment or develpment, not to buy shares or units in a unit trust or to run a business.
I guess you could liken a LPT as a mega-syndicate (however usually in a syndicate most of the members know each other as you set it up for a common goal).
This may help with some basic info on LPT's better than I could explain it:
http://www.asx.com.au/markets/pdf/LPT%20Retail%20Sheet.pdf
The above should not be construed as advice. Please check with Chan and Naylor that what I have described is accurate and please report back for the benefit of all here.
Hope this helps
. That's about another 10 or so years away, so at least one and possibly two property cycles away. Might even stagger the sale. Sell one after one cycle and then sell the other at a future point.
