- JaseParticipant@suthosparksJoin Date: 2019Post Count: 0
Love this forum and have learnt plenty of information from here and now wish to ask for some advice for my current situation.
I’m currently in a crossroads to what I plan to do in my near future, I’ve got a mortgage broker looking at my finances and just got the feeling that he doesn’t know much about Steve Mcknight’s wisdom. I’d like to have a clear path once I understand my borrowing capacity.
I would like to own either a commercial property that I lease out to my “company” (alternative health therapies) or purchase a patch of real estate and convert it into a commercial space to use. I would also like to continue my goal of investing in property to sub-divide the land and either sell the land or build and then sell with positive cash flow from this.
**My question (either answered here or recommended to see ‘x’ person/lawyer/tax accountant) is what structure would be best for me to start this process for both protection of my assets (in case of being sued) and opening a business and owning investment properties (hopefully plenty of them). All of this with the best return of my investments/tax.
I understand the pros and cons of a company structure vs a trust structure, but not sure what would be best to place a business under too…or who to talk to about any of this.
Thanks in advance, happy investing :)TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213
This is something you need legal and tax advice on – and credit advice.
Once you decide you will need to consider structuring the company and trust and how to structure the funding of it. There are traps at every step along the way.
Any specific questions please list them here and i will answer.JaseParticipant@suthosparksJoin Date: 2019Post Count: 0
Thank you for the reply, Terry.
I guess my first question is where to start. If I wanted to go see the process and end result of either choosing to structure as a company or a trust. Do I start at a lawyer, tax accountant or is there somewhere to get an all-in-one approach?TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213