Forums / Property Investing / Help Needed! / Adelaide property investing

Viewing 13 posts - 1 through 13 (of 13 total)
  • Profile photo of Adam SellersAdam Sellers
    Participant
    @adzy1992
    Join Date: 2018
    Post Count: 6

    Hi Guys! Loving what everyone is doing here.

    I have a question about structuring, and I appologize if anyone has asked this already.

    I have not yet bought my first property (personal or investment).
    And was wandering if it is imperative to buy a house in a trust/company? I’ve read 0-130 properties in 3.5 years and I couldn’t quite get my head around it.
    Was just hoping someone could shed some light for me!

    Also, is there any investors here in Adelaide that have a few properties? Would love to maybe have a chat or grab a coffee with you.

    Anyway, thank you for your time, and any info is much appreciated!

    Look forward to hearing from you. Adam

    Profile photo of George PoullosGeorge Poullos
    Participant
    @york-p
    Join Date: 2015
    Post Count: 10

    Hi Adam. The simple answer is no. It isn’t imperative for the majority of people. But it really depends on what the longer term plan is & your situation. How big will your portfolio get realistically? Will you invest in multiple states? Is your profession the type that is risky from a litigation point of view?

    These are the things you should discuss with a structuring lawyer who specialises in entity structuring. They can advise you which entity is best suited to your situation & goals and why.

    George Poullos | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Finance Strategist & JP

    Profile photo of Adam SellersAdam Sellers
    Participant
    @adzy1992
    Join Date: 2018
    Post Count: 6

    Awesome, thank you so much George. I shall look into that!

    Really appreciate your reply.

    Adam

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173

    You would probably want to have at least one property that can access the main residence CGT and land tax concessions. If you are worried about asset protection on bankruptcy then there are strategies that allow for the property to be held in your personal name and to get some good asset protection as well.

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Adam SellersAdam Sellers
    Participant
    @adzy1992
    Join Date: 2018
    Post Count: 6

    Thank you Terry. I will have a look and find out what strategy is best for myself. I appreciate your time and reply!

    Adam

    Profile photo of JaxonJaxon
    Participant
    @jaxona
    Join Date: 2014
    Post Count: 282

    Adam every step you make should serve a purpose,

    now for me the only real benefit is you can change a family (discretionary trust) ownership and payments at your own discriection, this is huge value under the right setup and I feel mainly pointless really while building a portfolio.

    to be honest why pay for a complex or even simply trust structure if it does not achieve any major win for you or serve a very important part of your goals.

    Happy to chat about this and more anytime mate, but I am in no way a lawyer and can in no circumstance provide legal advice.

    • This reply was modified 1 year ago by Profile photo of Jaxon Jaxon.
    Profile photo of Adam SellersAdam Sellers
    Participant
    @adzy1992
    Join Date: 2018
    Post Count: 6

    Awesome, thank you so much Jaxon! I’ll do some more digging!

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173

    Awesome, thank you so much Jaxon! I’ll do some more digging!

    Adam every step you make should serve a purpose,
    now the only real benefit is you can change a family (discretionary trust) ownership and payments at your own wants, this is huge value under the right setup and mainly pointless really while your building a portfolio.
    to be honest why pay for a complex or even simply trust structure if it does not achieve any major win for you or serve a very important part of your goals.
    Happy to chat about this and more anytime mate.

    This answer doesn’t make sens. Are you qualified and licensed to advise on trusts Jaxon?

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of JaxonJaxon
    Participant
    @jaxona
    Join Date: 2014
    Post Count: 282

    To disclose in case it already wasn’t, please seek legal advise obviously for specifics

    for myself I feel the above advice is appropriate for me, you should obviously seek legal advise for your own situation as there are many variables, the above is merely an overlying simplification and is not professional advise.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173

    Not really sure what that means either Jaxon.

    I am concerned that a poster has come on here seeking advice in relation to structure, you have come on and given some sort of comments verging on legal advice, albeit ungrammatical english – which could be due to rushing or being a non-native speaker, and then you offered to discuss further with the person. Yet you don’t appear to be a lawyer.

    Then you have made some comments that the above advice was appropriate for you.

    Not sure what to make out of all of this.

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of JaxonJaxon
    Participant
    @jaxona
    Join Date: 2014
    Post Count: 282

    Really simple Terry, I am not a lawyer and do not claim in any way to give any legal advice, as to explain what a trust is, explaining some trust have tax incentives (of which you have to seek accounting advice) or general comments in relation to the fact there are different trusts all falls under general, given advice as to what someone should do, well I cannot comment for any legal path in any way.

    Really easy I realised the way I worded it could possibly be misleading, after re-reading I wanted to rectify it, I appreciate your input as I do not want to give any comments in any way that could be seen as “professional advice” that can be taken and used without first seeking a lawyer.

    plain and simple

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173

    non qualified persons can’t advise on trusts, but they shouldn’t give general advice either. You seem to confuse accounting advice with tax advice – but only lawyers or tax agents should explain the tax aspects of a trust too – not tax incentives.

    It is probably best not to comment, even generally, if you don’t understand what you are writing about, and best not to attempt to get new investors to call you directly in case you mislead them further.

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173

    Adam – if you want advice on what ownership structure to use then you should seek legal advice from a lawyer only. There are a lot of non qualified persons out there giving incorrect advice – mainly accountants – so beware.

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

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