I have just become a member today after reading ‘0 to 130’. I am married and 55, so I am looking toward funding my retirement with passive income. Should I aquire my properties as an individual, partnership, company, trust or superannuation.
Any help and advice will be appreciated.Colin Smith
Hi Colin
And Welcome.
This is a pretty general question, so why not do a search on trust structures etc. and you will find some good reading.
Good Luck!
Brendon
Acute Mortgage Reductions
http://www.acutemr.com.au
[email protected]Welcome Colin
I would agree with Brendon to do a search. It really depends on what you want to achieve as to which structure you use, and how flexible you wish to be – plus what your understanding of the structures is.
If you don’t fully understand trusts, and perhaps even if you do, I would recommend Dale Gatherum-Goss manual Trust Magic (and also Tax Battles) available from his website http://www.gatherumgoss.com
If you have further questions, by all means put them up and we’ll have a crack at them [
]Cheers
MelColin
Get some expert advice.
but firstly look at http://www.chrisbatten.com.au for some good ideas.If you structure you purchases correctly now, it maybe possible to transfer you property to a smsf without incurring stamp duty. If you need to – that is.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Wife and I are always asked why we have our loans in personal names. It is easiest and quickest to get a loan. Some lenders now charge upto $1500 to read your trust deeds prior to approval of loans, some lenders then say no to trusts anyway just to piss you off. Icing on the cake is when they know you are urgent and the loan is delayed 2 weeks until someone works out if your trust documents ar ok or not. Arghhhhh.
Buying in joint names is ok at the start but you really need to assess if a lender will lend to each of you separately as this sometimes speeds up your portfolio expansion.
We were once told we are using the LODOC loans to the letter of the law, but not in the spirit in which they were intended. Who gives a rats bum what the banks think as long as I get that all important loan in a timely manner.Didnt laugh at that one until out in the street.
Happy hunting
DD
Don’t sweat the small stuff,and it’s all small stuff!!
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