Hi all.
Some friends and I are looking to buy a property together (long term hold) with a reno to rent strategy. I’d love to know what your thoughts are on the structure/entity we should consider purchasing it in? Is there anyone out there that lives and breaths this stuff and is happy to share?
Thanks 😊I have 2 separate clients at the moment who are being held back because of joint purchases with others.
You should seek specific legal advice – from a lawyer – but something that can work in some cases is buying in single names with the other lending the deposit. After a while this will quickly eat up borrowing capacity and then going in together in a way that allows easy exit later but joint income for borrowing capacity now can work.
Depending on the location of land this could be a fixed unit trust or even 2 discretionary trusts holding the one property. Companies can be considered too in some states.
Best to seek specific advice
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
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