- TheShoulderGuyParticipant@theshoulderguyJoin Date: 2007Post 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.
- How best to structure the loan and purchase – considering personal, tax, property and business components, short and long term goals?
- How best to obtain a deposit – Cash, PPOR or IP?
- 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.
Hi thereTerrywParticipant@terrywJoin Date: 2001Post 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.