I have recentlly read Steve’s 3 books and they were a complete eye opener to me. I have 2 IPs but I had never heard of positive cash flow or loan structures or trust accounts. I want to restructure what I do have and also make sure I get it right for the future. Are there any other books I should be reading? Also I’m looking for an accountant who can clearly and patiently support me in what I want to do with properties in the future.
Any ideas anyone?
Hi eve
Where are you based ? Should be able to assist.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.Richard Taylor | Australia's leading private lender
A good accountant is worth his weight in gold, but a bad accountant is like a lead.
It is properly too late to change the structure on your existing properties, but make sure you set up any future purchases correctly.
Also consider how your properties are performing. Use Steve’s template at the back of the book for this. If they are not doing too good, you may be better off to sell and buy more lucrative IPs.
One more point to accountants. It often helps if you have a list of questions and goals when you see him/her. The field is so broad, that you have to put them on the right course to get the correct advise.
Imagine you had a brilliant navigator on your ship but you did not tell him where you want to travel to. Pretty hard!Good Luck
Hi eve100,
If you are based in Melbourne suburbs, you can try using Nancy Keep & Associates (www.nancykeep.com.au).
She is a serious property investor herself and has a very good group of associates (finance specialists, insurances, property manager/s, etc.).
She can offer some other innovative (and tax effective) investment products as well.
Hope this helps.
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
And read the Book on trusts: “trust Magic” by Dale Gatherum Goss (Melb based accountant).
Terryw
Discover Home Loans
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Send an email to get my newsletter.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
Hi Terry
Thank you – I will do that
Eve
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