No. I wouldn’t, that’s true. I went to a lawyer and got good advice and a tailored document. But accountants don’t offer to do wills, as far as I know! Maybe that is an emerging opportunity for them.

Here’s what I’ve found happens pratically though re: trusts: accountants tend to work with a good lawyer (or major law firm) to get access to their…[Read more]

I think we’re just going to have to disagree on this one Terry.

Regards,

Steve

This might be one of those professional demarcation issues.

I’ve always used an accountant to arrange my new structures.

Whomever you choose, make sure they’re experienced and knowledgeable.

Regards,

This might be one of those professional demarcation issues.

I’ve always used an accountant to arrange my new structures.

Whomever you choose, make sure they’re experienced and knowledgeable.

Regards,

Amir,

Thanks for clarifying. If you go into a project with the intention of ‘turning it’, say a renovation or subdivision, then it is unlikely to qualify for a CGT discount, as you may hold it for <12 months, and even if you don’t, your intention is not to hold it for long term gain, but to buy-improve-sell, and so the profit is likely to be an…[Read more]

G’day Justin,

Biggest hurdles?

If you want to own that many properties you’ll need to get your structuring and finance sorted, or else you will reach a glass ceiling pretty quickly and not be able to keep buying. Of course, you’ll need your own capital for deposits too.

Here’s a conundrum: You’ll be unlikely to acquire that kind of property…[Read more]

Amir,

They are right! You cannot distribute a loss from a trust, so to access the (so-called) benefits of negative gearing, namely to offset the income loss from the property against your other taxable income, you will need to buy in your own name.

Are you wanting to negatively gear?

Bye,

– Steve

Hi,

Sorry to hear about this!

It does sound like a structural failure of the external building, which is typically an Owner’s Corp matter.

I recommend getting a copy of the governing document, ascertaining whether there is a sinking fund, and then heading off to a friendly lawyer to seek further help. Getting a builder to attest to the issue…[Read more]

It will be a revised edition of Wealth Guardian, so a product for sale on the website, rather than a book in bookstores.

– Steve

G’day!

A buyer’s agent who owns hundreds of properties? In their own names? Hmmmmm. That doesn’t pass the sniff test.

I’m currently writing lots of new and updated products about due diligence and structuring. I recommend getting your hands on them once I have finished them (still some months away).

Structuring though, as an overview, is the…[Read more]

Hi.

Sorry to hear about what’s happening.

This is a legal question, so advice might need to be sought. Some ideas though…

1. I suspect the property title will nominate the lender on it, so if you get a copy of the title you will see any encumberances – name of lender and mortgage number. Title searches can usually be done online, for a…[Read more]

G’day,

My contribution to the discussion is via some investing principles that I have seen work time and time again:

1. The goal of getting into debt, is to get out of debt. That is, if you owned a portfolio of debt-free income producing assets then you would be somewhat inoculated against rises in interest rates, plus if you had to borrow in a…[Read more]

Well, I greatly respect Terry as a lawyer, but to be fair to me, 0 to 130 is not a text book on trusts.

Instead, it explains the concept of how I have used (and continue to use) a multi trust structure to leverage my personal borrowing capacity.

Everything written in the book is both factual, and accurate.

Oh, and for the record, NOTHING that…[Read more]

Well, I greatly respect Terry as a lawyer, but to be fair to me, 0 to 130 is not a text book on trusts.

Instead, it explains the concept of how I have used (and continue to use) a multi trust structure to leverage my personal borrowing capacity.

Everything written in the book is both factual, and accurate.

Oh, and for the record, NOTHING that…[Read more]

Well, I respect Terry as a lawyer, but to be fair to me, 0 to 130 is not a text book on trusts.

Instead, it explains the concept of how I have used (and continue to use) a multi trust structure to leverage my personal borrowing capacity.

Everything written in the book is both factual, and accurate.

Oh, and for the record, NOTHING that…[Read more]

Hi Jane,

I’m sorry to hear about this.

I am not a lawyer, and as this is a contractual matter, it is important to know your rights and obligations, especially if you are overseas.

The contract you signed, together with consumer law, will determine the rights and responsibilities of all parties.

Usually, if you sign a contract and fail to…[Read more]