I'm in the market for my first IP. To date I've been looking to make this purchase in my name. I have a long-term investment horizon and I'm keen to build a decent property portfolio over the next decade.
However, a friend has suggested we should pull our resources together, start a property unit trust and invest in property together. Totally trust my friend, so no problems there...but I really don't know much about unit trusts.
What are the advantages and disadvantages of unit trust versus simply buying IPs yourself? Are there any pitfalls that I should be aware of with unit trusts?
However, a friend has suggested we should pull our resources together, start a property unit trust and invest in property together. Totally trust my friend, so no problems there...but I really don't know much about unit trusts.
What are the advantages and disadvantages of unit trust versus simply buying IPs yourself? Are there any pitfalls that I should be aware of with unit trusts?