Hi all, im in the process of making some very big changes in my career, I'm self employed in the food industry as i write this but have my business n the market. What I'm going to be doing in the future is property developing. Ive decided its about time i make this actually happen on a full time basis (I've built two units in the past). I guess I'm here to talk to like-minded people and hopefully bounce ideas around and learn.
So one of the first things id like to ask seems to be fairly basic but also fundamental as a property developer... that is, finance. I should mention that as im selling my business that i will be without income.
Id like to know how to set up finance for potential developments and if there is anyone that specializes in this? My initial thoughts is that a line of credit would be the easiest way to get finance using my current investments for leverage. But is it the best way to do this ?
Also i hear people talking about trusts and companies, structures and trusts.... these are things that i don't know a whole lot about and was wondering if all of it is necessary, or if im just better off keeping things simple.... which would be my preference. I was thinking just to start a company or pty ltd......
Any thoughts, or suggestions ?
So one of the first things id like to ask seems to be fairly basic but also fundamental as a property developer... that is, finance. I should mention that as im selling my business that i will be without income.
Id like to know how to set up finance for potential developments and if there is anyone that specializes in this? My initial thoughts is that a line of credit would be the easiest way to get finance using my current investments for leverage. But is it the best way to do this ?
Also i hear people talking about trusts and companies, structures and trusts.... these are things that i don't know a whole lot about and was wondering if all of it is necessary, or if im just better off keeping things simple.... which would be my preference. I was thinking just to start a company or pty ltd......
Any thoughts, or suggestions ?