Investing Structure

Viewing 5 posts - 1 through 5 (of 5 total)

glengary
Participant
@jamesbi
Join Date: 2014
Post Count: 45
March 2, 2014 - 10:42 pm
Hey Guys I am 21 years of age and just read Steve Mcknights book, I am inspired. I want to begin my property portfolio and wanted to ask, if I was investing in property should I set up a business account or trust ?? Because say I had multiple properties it would be safe to not have them under my own name right?? How would I go to start my journey ?? I am going to speak to a broker and also a lawyer for legal advice, but it would be great to know what your insights are on this?? I want to look for positive geared properties and also capital gains.
Coota
Participant
@coota
Join Date: 2012
Post Count: 49
March 2, 2014 - 11:11 pm
Newbie,
Congratulations on setting your mindset to take control of your financial future through property investment.
For me education is the key before you make your first purchase,what is your 5,10,15 yr plan etc.
Also as you start find a mentor you can trust who has done what you are hoping to do,good luck!!
little link below may help…
http://www.realestate.com.au/blog/6-steps-to-getting-started-in-property-investment/
Thread Bare
Member
@thread-bare
Join Date: 2013
Post Count: 9
March 2, 2014 - 11:23 pm
Welcome and very well done.
Find some experienced investors to ask questions of and always check who you get you advice from, or I should say: Listen closest to those you are paying and be wary of those being paid by others. By those I mean Marketeers, Agents and Brokers.
Modernity Investing
Participant
@mark-coburn
Join Date: 2006
Post Count: 181
March 2, 2014 - 11:25 pm
Good on you for making a start.
You are on your way, now is the time to set a few 1 year, 3 year & 5 year goals. Keep them simple and write them on a piece of card to keep in your wallet.
Goal setting is so, so important, That's my best advice
Modernity Investing
Email Me
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
March 3, 2014 - 1:40 pm
The Newbie Investor wrote:
Hey Guys I am 21 years of age and just read Steve Mcknights book, I am inspired. I want to begin my property portfolio and wanted to ask, if I was investing in property should I set up a business account or trust ?? Because say I had multiple properties it would be safe to not have them under my own name right?? How would I go to start my journey ?? I am going to speak to a broker and also a lawyer for legal advice, but it would be great to know what your insights are on this?? I want to look for positive geared properties and also capital gains.
Keep reading the forums. I would suggest you hold off on the advice for a while so you can get better acquainted with the subject.
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