All Topics / General Property / Trust Magic??

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  • Profile photo of DaveADaveA
    Member
    @davea
    Join Date: 2007
    Post Count: 44

    Has anyone read this book by Dale Gatherum-Goss, at $100 per book i thought id get some answers first…

    Im looking to do a bit more reading up on it and it looks like it covers alot on trusts. I was Also thinking Negative Gearing By N E Renton, Rental Property and Taxation as well as Land Tax in Australia by Vince Mangioni. I dont particular want to read how people have built bit portfolios yet, i think i need to do a bit more useful learning.

    Otherwise any other good books people could recommend could be great… [grad]

    Cheers

    Profile photo of The ContrarianThe Contrarian
    Member
    @the-contrarian
    Join Date: 2005
    Post Count: 97

    Hmmm… haven’t heard of that one…
    You can check online reviews etc…

    There’s a few free e-books around on the internet..
    You can also download a lot of audio tapes thru bit torrent etc..
    Not that I would do that personally ofcourse,
    but it is FREE afterall ;)

    Profile photo of bruhambruham
    Participant
    @bruham
    Join Date: 2003
    Post Count: 189

    My goodness fellers,

    If you haven’t heard of Dale Gatherum-Goss you must have just popped out from under a cabbage.
    He’s been around for years. He has a very large following.
    Try the web site of Somersoft. Also past posts from this website.

    Chan & Naylor are another team who specialise in wealth building.
    They are big on trusts of all types, mortgage lenders and let “us” hold your hand, we will show you how to become wealthy.
    By selling you videos, c.d.s, etc ,etc. And of couse seminars.
    Anything and everything for a price. http://www.chan&naylor.com.au
    Same as Dale G G.

    bruham.

    Profile photo of DaveADaveA
    Member
    @davea
    Join Date: 2007
    Post Count: 44

    hmmm, tried the link and it didnt work…

    so are these things cons or are they worthwhile??

    would a seminar cover the same as say a few hours direct legal advice or its just more background and understanding u could get from reading a book???

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Yes, Trust Magic is the best book on trusts for the average person. It is written in a very easy to understand way. Well worth the money.
    http://www.gatherumgoss.com

    Terryw
    Discover Home Loans
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    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196

    Hi Dave

    As you will will probably be investing some hundreds of thousands of dollars building your portfolio in the future, I’d suggest you don’t “nickel & dime” your real estate education.

    I suggest that $100 is very cheap education. I’d also suggest you have a look at
    https://www.propertyinvesting.com/resources/11.html

    Good luck.

    Cheers, Paul

    Paul & Karen Dobson
    negative2positive
    Turn your negatively geared property into positive cashflow.
    Phone: (02) 4984 9540

    Talk to us about Wrap Training Joint Ventures.

    Paul Dobson | Vendor Finance Institute
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    An alternative way to finance your home.

    Profile photo of DaveADaveA
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    @davea
    Join Date: 2007
    Post Count: 44

    i do totally agree, $100 is quite cheap but with the range of books out there and more the limited time rather than money i dont want to start with a stack of 10 books to read, id prefer to start with a good one and more importantly not read wrong advise..

    thanks for the tips though

    Profile photo of PursefattenerPursefattener
    Member
    @pursefattener
    Join Date: 2004
    Post Count: 217

    Hi Dave

    I enquired about this book at my local library abut two years ago after baulking a bit at the price . The library actually purchased the book for me after i requested it ….

    I havn’t purchased the book but should really . The author spells it out very clearly for all us drongos who don’t get all the legalese jargon…..

    If you are registered at your local library with an online username and password then you can search around statewide or even nationwide for a copy . I think there could be a modest $2 fee or something depending….I do this all the time but I also buy a lot of books . I have bought a handful on e-bay and some at second hand shops…..

    There comes a time when you need to pull your finger out and take action . That applys to me [biggrin]

    Profile photo of DaveADaveA
    Member
    @davea
    Join Date: 2007
    Post Count: 44

    so apart from this trust magic, are there any others worth reading?? is his other one about taxation good??

    also what do you all thing of like the australian property investor magazine or any property magazine, are they worth while buying ( and more importantly reading) or would you learn more from sitting and reading a book instead once a month??

    the ones ive seen so far seem to focus on where you should invest rather than general knowledge and tips?? correct assumption??

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    There is another great book on trusts called the “Trust Structures Guide”. Costs about $350 though! Renton’s books are pretty straight forward. Very plain and conservative stuff. Chris Batten supposedly has a new book coming out soon on hybrid trusts as well.

    Terryw
    Discover Home Loans
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    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
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    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of wealth4life.comwealth4life.com
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    @wealth4life.com
    Join Date: 2003
    Post Count: 1,248

    Hi Dave,

    There are 28 FREE eBooks on http://www.apin.com.au written by julia hartman of bantacs CPA there is some trust stuff there all FREE no catches look on the left hand side and go to accounting eBooks … the only reason we don’t buy books on this stuff is because it changes evey 5 minutes thats the ATO for you … we have a fantastic Financial Adviser whos keeps us up to date … Parkside Financial Servises in Castle Hill Sydney FYI – oh also Chan and Naylor make their money by selling investment properties in Homebush Bay so you’re not safe from any body … good luck

    D

    Profile photo of ctaingctaing
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    @ctaing
    Join Date: 2006
    Post Count: 111

    Thanks for the tip off, wealth4life.com. I sometimes wonder why the need for Chan and Naylor to mass feeding info to the general public… a bit like soliciting for service.

    CT

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    Originally posted by wealth4life.com:

    Hi Dave,

    There are 28 FREE eBooks on http://www.apin.com.au written by julia hartman of bantacs CPA there is some trust stuff there all FREE no catches look on the left hand side and go to accounting eBooks …

    D

    Wow, lots of great books on tax there. Thanks D

    Terryw
    Discover Home Loans
    [email protected]
    Send an email to get my newsletter.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of XeniaXenia
    Member
    @xenia
    Join Date: 2002
    Post Count: 1,231

    Trust Majic is one of the best books on trusts around. Well worth the $100 and will tell you things that are too out of the box for the average accountant!

    Written by a creative accountant, property investor and fantastic guy too (he was featured in API a few issues back!).

    Investment Property Management
    http://www.adprop.com.au

    Profile photo of DaveADaveA
    Member
    @davea
    Join Date: 2007
    Post Count: 44

    yeah i got the back issue, i can scan it if anyone wants, ill be getting started reading in the next few days so im looking forward to it

    im now looking for a similar book as well to deal with benefits of companys and a bit of a step by step guide of setting them up, things which are good and things u need to be wary of…

    all in all you can never have enough knowledge…

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