Recent content by Prop_Perspectiv

Great thread. I've felt this way for a long time - not necessarily the *separation* stuff but more the *why won't you do this?* type stuff. I think the answer to why so many people just plod along in life is because of security. What skater wrote resonates with me as well. We tried lots of...

Good to know.....;)

Forum hypotheticals are helping me learn :) I am worried about my current accountant though....I think I will have to find someone else (little bit sad after 10yrs with the same person!). Thanks for all the feedback guys! :D

Great document - thanks knightm! My problem is that this isn't a once off, this land was bought with the sole intention of subdividing and building on it - but not to sell (at least not for years). I will pull the equity out of each house though. Whether we "regularly subdivide land" or not...

Yep, we've established a restructure is needed. Now I'm trying to work out the best way of moving forward. Should a company be the trustee of the current unit trust? I'm worried this might be beyond my current accountant...

Wow, balwoges - well done! It is my understanding that the valuer would have been basing the value of the property off similar properties in the area - therefore if there hadn't been many sales in your street recently, he/she would have looked further afield and probably wouldn't have taken...

So setting a company up (on Friday) to act as trustee of the trust is the best way forward? And we will be transferring to a company with our business - do we have to create two companies or can we use the same PTY LTD to run the property and the business?

I have a meeting with my accountant on Friday and would like to go into it with my eyes open. What is the definition of an investor as opposed to a developer? I heard that a developer must have intent to sell? What are the different tax implications between the two? Just looking into best set...

We just had a look into this for a block of land that we wanted to move a house to (covenant stating only new materials to be used). Best bet to go through the planning permit process to vary or remove restrictive covenant. Those who benefit from the covenant can protest though and I was told...

The thing is that if you choose to own a business you have way more potential than if you stay a PAYG employee. Everyone is right in saying that, quite often, business owners work longer and harder for less money. BUT how many of those business owners go onto to become successful enough to...

*Off to stalk Handy Andy* :D

I have a strategy that builds equity quickly but have only just completed my second project so might be a bit early days. Basic run down: Find land in an area where the land price is disproportionately low compared to established houses, move a house to it. Basic figures of our most recent...

I never really believed in any of this stuff. But some weird stuff has happened over the last few months that has me questioning. We bought this house off my mum, we moved here when I was 13. My little sister was 9. Since moving in here my two boys have never slept well - I just wrote it...

Great, thank you. I was just chatting to my lawyer, it is going to be difficult to find all the properties with the restrictive covenants (so that they can be notified of my intention to get the covenant lifted) because of the wording of it. Property history is so fascinating. The property...

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