Hi guys
We are nearly ready to buy our 3rd and 4th IP's. But I want to structure them right.
I have asked questions about companies once before on SS but since talking to a couple of seasoned investors my outlook has changed slightly and I need advice from some of you savvy investors, in particular investors with a brokering or accounting background.
Bit of an idea of our strategy.
Buy and hold.
Along the way I want to create equity where I can by renovating and developing certain properties.
We are on good money atm but things will change shortly when we move.
In the next two to three years we are hoping to have another child so my wife will then be a stay at home mum on a small wage. I would imagine Id still bring in close to $90k. So with my wage, CF+ investments and borrowing from the right lenders at the right time we shouldn't have an issue with the serviceability.
We have no personal debt.
Our two current IP's are Joint Names Joint Tenants.
We own approx $300k worth of land in QLD
We want to control 10 - 15 properties asap.
Given the above scenario, would you recommend purchasing in a company or as individuals or in some form of trust.
I always thought to base the structure around liability, minimising land tax, and minimising the CGT when we finally start selling off.
As I said, I have had advise elsewhere saying that the likely hood of being sued is minimal and if you do get sued there is always a way to get to your assets anyway. Land tax is inevitable and companies and structures are just too expensive for the benefits they present. "Of course Accountants will push companies and trusts as the best option as it is more money in their pockets..."
Looking forward to getting some feedback.
Nath
We are nearly ready to buy our 3rd and 4th IP's. But I want to structure them right.
I have asked questions about companies once before on SS but since talking to a couple of seasoned investors my outlook has changed slightly and I need advice from some of you savvy investors, in particular investors with a brokering or accounting background.
Bit of an idea of our strategy.
Buy and hold.
Along the way I want to create equity where I can by renovating and developing certain properties.
We are on good money atm but things will change shortly when we move.
In the next two to three years we are hoping to have another child so my wife will then be a stay at home mum on a small wage. I would imagine Id still bring in close to $90k. So with my wage, CF+ investments and borrowing from the right lenders at the right time we shouldn't have an issue with the serviceability.
We have no personal debt.
Our two current IP's are Joint Names Joint Tenants.
We own approx $300k worth of land in QLD
We want to control 10 - 15 properties asap.
Given the above scenario, would you recommend purchasing in a company or as individuals or in some form of trust.
I always thought to base the structure around liability, minimising land tax, and minimising the CGT when we finally start selling off.
As I said, I have had advise elsewhere saying that the likely hood of being sued is minimal and if you do get sued there is always a way to get to your assets anyway. Land tax is inevitable and companies and structures are just too expensive for the benefits they present. "Of course Accountants will push companies and trusts as the best option as it is more money in their pockets..."
Looking forward to getting some feedback.
Nath