As investors we are very aware of the risk/reward relationship, after all this is what we all agree to take on board for the chance to grow our wealth and secure our financial freedom. It would be easy to coast along and keep in your comfort zone, but let’s face it who wants to die wondering what could have been……
Enough preaching to the converted, yeah we all know that what we do has a element of risk associated to it, but what we need to get our head around is how we minimise this risk. By correctly structuring our investments and our personal circumstances much of the risk can be controlled, and if done correctly many of the government charges and taxes we incur can be reduced.
No matter how long you have been in “the game” we all know good advice on company and trust structuring is not only hard to find, it can be very expensive as well. So we are very lucky to have this month’s speakers agree to give us a couple of hours of their very valuable time to run through a few of the pitfalls and how to avoid them.
Colin Munro (Munro Doig Lawyers) has extensive experience in the area of property tax law, specifically relating to GST, CGT and stamp duty. As you can imagine each scenario is unique, so Colin will be coming along to run through some of the general issues on one or two example projects we have for him, and time permitting answer any specific questions you might have.
The types of projects that we are intending to cover with Colin include investing as an individual for smaller projects such as renovations and developments and then moving up the scale, investing with others, be it other investors, people you know or possibly even the land owner. Unless you have plenty of money, investing with others and structuring of this is crucial to your success.
These scenarios should give everyone a good high level understanding of what to consider and will help you in talking with other that you may want to invest with or professionals including Colin you may wish to seek further advice from.
At Property Meeting we are all about reducing risk and making sure the loved ones in our life are catered for as part of our “master plan”. We all know that we should have things like insurance and a Will, but how many of us actually have the correct things in place to ensure everything will be taken care of should the worst happen. Yep, it is a morbid topic but now is the time to make sure you have it all under control. Our second speaker – Jade Ham is going to spend a few moments running us through what type of insurances we need to have in place and the most cost effective way to achieve the required level of cover. Jade will run through a practical group exercise so we can each see how well we have ourselves covered from this point of view and detail some of the things you need to be wary of to ensure you are getting what you really need.
Don’t miss this opportunity to come down and network with a great group of committed investors who are sure to keep you moving forward on your investing journey.
Come join us Wednesday 24th July 2013 at the South Perth Library, Cnr South Tce and Sandgate St, South Perth, 6:00pm registration for 6:30pm start, finishes around 9:00. There is a $20 per head entry charge or $30 per couple (payable online or at the door) includes a property investing magazine! Please feel free to bring along friends and family.