All Topics / Help Needed! / How to Structure/Finance 'A Joint Family' Rural Property/Tourism Biz Purchase?

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  • Profile photo of TheShoulderGuyTheShoulderGuy
    Participant
    @theshoulderguy
    Join Date: 2007
    Post Count: 44

    Hi there folks!

    Luke here looking for some direction, clarity and forum wisdom.

    My Sister and I are both married with (pre-teen) children, in our late 40’s and have mortgages over PPOR and investment properties.

    She lives in Mackay and I in Brisbane.

    All spouses work in (self) employment not significantly affected by COVID…

    My sister and I have discussed and at least in principal agree, we would like to purchase a rural property within SEQ (250km) as an investment to both enjoy now and leave to our children when we die.

    A rural property (60 acres) + income producing tourism accommodation business is for sale.

    The sale includes land, 2 x cabins, shed and all chattels, future bookings and reservations lead generation funnel.

    It has historically produced a 50% profit before tax.

    My questions: 

    1. How best to structure the loan and purchase – considering personal, tax, property and business components, short and long term goals?
    2. How best to obtain a deposit – Cash, PPOR or IP?
    3. What else should we consider considering the potential complexities, upsides and downsides of such a purchase?

    I appreciate there are complexities beyond the scope of this post but I would greatly appreciate your experience and expert opinion.

    Many thanks,

     

    Luke

    Hi there

     

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

    1. comprehensive legal advice is needed.

    2. you or the entity would probably want to borrow it if possible. no relevant information given. have you a paid off main residence? Excess cash  you can use etc.

    3. heaps – death, family law, incapacity, bankruptcy, land tax, stamp duty, CGT/Revenue, serviceability, income tax, asset protection, estate planning, trust law, corporations act etc etc.

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

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

Viewing 2 posts - 1 through 2 (of 2 total)

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