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I have been doing research for about a year now and would feel quite confident getting a property in somewhere like Geelong. I want to make sure I get the right start however and if the capital growth elsewhere is going to be much better and I can get a buyers agent to assist then I would be happy to pay the fee.
Thanks for all the tips guys.
This is my first purchase. And am considering living in it as it is cheaper to pay off a mortgage than rent.
Unfortunately I don’t have another IP. I guess that takes me back to the drawing board of options 2 and 3
Surely anyone that did this fund is laughing right now. I wish I was around when the offer was available. Any one know how its going?
Just to clarify I made a mistake in my original post.
“Like other have said I kept my wallet closed for the day and am now doing my own research into things but apparently it has been beaten in the court system in Australia.”
It should have said “but apparently it hasn’t een beaten in the court system in Australia.”
Sorry for any confusion
I am just learning about all these things at the moment Jacqui and that is way over my head haha. I know very little about how the trust systems work and what legitimately protects you and what doesn’t but I am avidly reading to try and learn. I definitely want to start up my own self managed super as I realise that is probably the way to go but not sure what the corporate trustee bit involves. Also I thought self managed super was more for your retirement purposes whereas I want to be able to access my investments and reinvest now. Like I said I know very little about it all so more than happy to hear your advice
Cheers for the quick reply guys. I have enjoyed ready your advice on many of the posts on this forum and find it really helpful. I am definitely caught up in the fear trap of asset protection. I will start work as a doctor next year and realise it is a vulnerable profession so am more conscious of how I protect my assets. Having said that I currently have no assets and am looking to purchase my first property. I thought maybe this caveat system could be a good way to protect myself but am still seeking more external advice on the topic. Your advice is always appreciated.
CheersI saw her speak at on the 18th July 2015 (yesterday) and while I am hesitant to believe something that sounds to good to be true she seems to know what she is talking about. She patented the idea in Australia for the Vestey trust and asset protection which like the others said involved putting a caveat on the property title. Apparently you can only have one caveat on the title and so if you essentially caveat yourself this stops anyone else doing it. Obviously your name/trust is still no.1 on the title and then the mortgage number 2 but you essentially take up the third spot. By going to the even I got Stuart Zadels “The new way to make property in money fast” and two of Dominiques books. One on “How to manage your debt” and the other on “How to take control of your divorce”. These resources alone made the conference worth going to and Dominique is a fantastic speaker and very funny. I would recommend going to hear what she has to say and asking her the hard questions. She answered all the questions she was asked at the back of the seminar room with about 20 people crowded around her and didn’t seem too stumped by any of them. Like other have said I kept my wallet closed for the day and am now doing my own research into things but apparently it has been beaten in the court system in Australia. She tells her personal story of how she lost everything with the more conventional ways of protecting assets with trusts etc. I would love to hear from an accountant or lawyer who has gone to her seminar and asked her the questions that may leave loop holes in her idea.
All in all you have nothing to lose by going to a free conference and I found it a good interesting day.
