[JBSParticipant@schwainoJoin Date: 2016Post Count: 4]

December 17, 2016 - 10:57 pm

Thanks Terry,

Looking at my long term goals setting up a company will happen somewhere along the journey, I see a benefit in setting it up from the first deal however will run this past the accountant hopefully this week if they havnt started Christmas Holidays yet!

Would a company be more flexible in raising capital through JV’s as well? Im thinking if I can get a couple of deals under the belt people will be a little more willing to invest with me.

[JBSParticipant@schwainoJoin Date: 2016Post Count: 4]

December 17, 2016 - 2:04 pm

Hey Tony,
Im looking at a regional property right now to do a reno that has a bit of fat in the deal. Getting a quote to restump it on Tuesday and then price that into my offer subject to building and pest. Obviously the building needs restumping and is in pretty bad condition but just want to make sure. Fingers crossed here.

I have spoken to a broker and Im not in a position to borrow unfortunately. Everything my end is good except an income due to personal/family reasons.

Thanks for the heads up with the JV. Alot of people say to be very careful!!!! Is there any good stories out there? I guess it’s human nature to be wary of the dangers!

Hey Tom,

Thanks for your advice, I always listen to people with more experience. Back to the JV, I read in Steve McKnight and his American business partners book that the thing with business partners is accountability! Great read if you havnt read it already, lots of great insights into successful investing.

Hey Corey,

Thanks mate. I spoke to two brokers both said the same thing. My hands are tied unfortunately.

Hey Terry,

Thanks for the advice but im going to do neither of those and do a reno with the cash I have. BUT this is where your advice will come in handy. Say I do two renos next year and settle the first project before June 30 should I pay tax on that to get borrowing capacity or pay no tax as it will fall under a PPOR? Then pay tax on the 2nd reno and third in the 17-18 tax year? What are your thoughts? TIA

[JBSParticipant@schwainoJoin Date: 2016Post Count: 4]

November 4, 2016 - 9:13 pm

Hi Ana,

Have you considered a money partner or JV partner to help you with the deposit and stamp duty? Food for thought.