Hi guys, I know Manny B has posted this topic in meeting point but I thought I would post it under general so new members/visitors would see it. Our small social property investment group in Melton Victoria has combined with the Melbourne Somersoft Investors group to invite all interested persons to our next meeting in Footscray on Thursday 16th October, to hear well known specialist property accountant Dale Gatherum-Goss speak re Hybrid Trusts, asset protection and general property taxation benefits. The meeting is free and there are no catches. I myself have 10 investment properties, the majority are positive cashflow (obtained since November 2002) and Dale is my accountant. I searched all over the western suburbs of Melbourne to find a property accountant and found Dale through this forum. I am glad I did even though I have to drive 1.5 hrs to Kilsyth to see him. Anyway Dale is speaking (for free in his own time I might add). No kickbacks here, no selling etc. If you want to find out about the difference between a hybrid trust compared to a normal family discretionary trust and all sorts of property taxation matters come along, its all about networking folks. I went to my first Melbourne Somersoft meeting recently and met Manny B and the gang and had fun. For both new and old forumites, come along and hear Dale speak . It might help you get your structure right. I bought my first 7 properties outside a trust until I found Dale. Anyway If you want to come along we have a room booked to accomodate up to 200 people and you are welcome. If its not for you that okay too. Location etc; 16/10/03 at 7.00 p.m. Victoria University - Footscray Park Campus, Building C, room C209 Ballarat Road Footscray (cnr Hoadley Crt) There is plenty of free parking opposite the campus on Ballarat road, There are vending machines with drinks, snacks, icrecreams and cappuccinos, so bring some coins along if you want to use them. My little group of 14 from Melton and the Melbourne Somersoft group welcome you along. For a detailed map of the University campus go to Manny's post under the category of meeting point on this forum and download it so you dont get lost on the night. Regards, Graham Scott.
Dale Gatherum-Goss speaking at Footscray 16/10/03
- Thread starter Scotty
- Start date
Thanks Scotty.
I am about to buy 5th IP, and like you originally, they are all in personal names (self and wife, no kids).
I will come along, as I am interested about the Hybrid Trusts.
What did you do with first purchases?
Did you tranfer to trust ( and trigger CGT)?
I am thinking that I have left it too late?
Garry
I am about to buy 5th IP, and like you originally, they are all in personal names (self and wife, no kids).
I will come along, as I am interested about the Hybrid Trusts.
What did you do with first purchases?
Did you tranfer to trust ( and trigger CGT)?
I am thinking that I have left it too late?
Garry
Hi Garry,
Love to see you there on the night. You are right we have both missed the boat with the transfer into the trusts now. My 1st 7 were 3 in Cairns last November (now getting some growth) I in Launceston in January (heaps of gowth) and 3 in Beenleigh, Eagleby and woodridge in January (almost doubled my purchase price in 8 months which certainly wasnt expected for cash flow positive property). So it would cost me too much now too transfer. The last 3 are through the trust. You know before I flew to Cairns last November with my wife, knowing bugger all basically but full of enthusiasm, I looked up my local business guide and found an accountant who specialsied in property so he said. Saw him 2 days before I flew out. Half an hour and 80 bucks later he said; "If you can rent them go for it" as the cairns prices were all 10.4% returns plus. He never even mentioned the option of trusts. So I purchased tenants in common because I earn 4 times what my wife does (95% and 5%) Bettern tax breaks, but if I ever sell. lood out for the cgt. Then after 4 more purchases I got onto Dale from this wonderful forum, got my structure right for any following purchase, and now I am cooking with gas. The first 7 I will just hang onto, making good capital growth isnt a bad thiing. Thats why for any would be investor it would be great to get along and hear Dale talk, then they wont make the mistakes you and I have made. But having said that I am still very happy. $250000 capital growth over my entire portfolio in 10 months with positive cash flow property is more than I ever dreamed of. See you on the 16th October. regards, Scotty.
Love to see you there on the night. You are right we have both missed the boat with the transfer into the trusts now. My 1st 7 were 3 in Cairns last November (now getting some growth) I in Launceston in January (heaps of gowth) and 3 in Beenleigh, Eagleby and woodridge in January (almost doubled my purchase price in 8 months which certainly wasnt expected for cash flow positive property). So it would cost me too much now too transfer. The last 3 are through the trust. You know before I flew to Cairns last November with my wife, knowing bugger all basically but full of enthusiasm, I looked up my local business guide and found an accountant who specialsied in property so he said. Saw him 2 days before I flew out. Half an hour and 80 bucks later he said; "If you can rent them go for it" as the cairns prices were all 10.4% returns plus. He never even mentioned the option of trusts. So I purchased tenants in common because I earn 4 times what my wife does (95% and 5%) Bettern tax breaks, but if I ever sell. lood out for the cgt. Then after 4 more purchases I got onto Dale from this wonderful forum, got my structure right for any following purchase, and now I am cooking with gas. The first 7 I will just hang onto, making good capital growth isnt a bad thiing. Thats why for any would be investor it would be great to get along and hear Dale talk, then they wont make the mistakes you and I have made. But having said that I am still very happy. $250000 capital growth over my entire portfolio in 10 months with positive cash flow property is more than I ever dreamed of. See you on the 16th October. regards, Scotty.
Folks,
This is an URGENT message directed to anyone that is planning to attend the talk by Dale Gatherum-Goss at Victoria University this Thursday (16/10/2003). Unfortunately due to Australia wide industrial action (NTEU Union)/strike/protest, picket lines will be in place at Victoria university (even Swinburne our secondary option), therefore the original room booked is no longer available.
We have made last minute alternative arrangements and the meeting will still go ahead at the following venue:
Keilor Park Community Hall, Thea Court, (off Collinson Street, off Fullarton Road, Keilor Park). Melways ref 15 D6.
This hall only seats 40 people, and we have to pay for it. So we have to charge two dollars per person entry just to cover the hire costs. The first 40 get seats, the rest will have to stand (although there is standing room for another 40 ppl). We will have coffee, and soft drinks for sale. Meeting starts at 7.00 p.m. I am sorry about the late notice, but this was out of our control. If you are interested in hearing Dale speak about hybrid trusts and general property taxation matters, come along. It might be a bit squeezy but it should be a good night. If you have any queries feel free to e-mail Scotty on [email protected].
I hope to see you there...
Cheers,
MannyB.
This is an URGENT message directed to anyone that is planning to attend the talk by Dale Gatherum-Goss at Victoria University this Thursday (16/10/2003). Unfortunately due to Australia wide industrial action (NTEU Union)/strike/protest, picket lines will be in place at Victoria university (even Swinburne our secondary option), therefore the original room booked is no longer available.
We have made last minute alternative arrangements and the meeting will still go ahead at the following venue:
Keilor Park Community Hall, Thea Court, (off Collinson Street, off Fullarton Road, Keilor Park). Melways ref 15 D6.
This hall only seats 40 people, and we have to pay for it. So we have to charge two dollars per person entry just to cover the hire costs. The first 40 get seats, the rest will have to stand (although there is standing room for another 40 ppl). We will have coffee, and soft drinks for sale. Meeting starts at 7.00 p.m. I am sorry about the late notice, but this was out of our control. If you are interested in hearing Dale speak about hybrid trusts and general property taxation matters, come along. It might be a bit squeezy but it should be a good night. If you have any queries feel free to e-mail Scotty on [email protected].
I hope to see you there...
Cheers,
MannyB.
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