Business Banking & Finance Mortgage broker - need advice for the right direction

Discussion in 'Starting & Running a Business' started by PropertyInsight, 9th Jul, 2018.

Join Australia's most dynamic and respected property investment community
Tags:
Page 2 of 2
  1. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,658
    Location:
    Gold Coast (Australia Wide)
    Im not a tax or risk adviser

    but surely if the business falls over due to whatever, having a limited compnay that in reality costs cents to build and maintain, is better than a lower cost sole trader with all the family jewels at risk

    Im fully ok with expect the best, plan for the worst

    But Plan for the worst then

    ta
    rolf
     
    Rolf Latham, 25th Jul, 2018
    #21
  2. PropertyInsight

    PropertyInsight Well-Known Member

    Joined:
    22nd Jun, 2017
    Posts:
    332
    Location:
    Australia
    Just wondering if any brokers are a HashChing, 1300HomeLoan member? What are your experience? I think about running a business similar to Hashching but having more features/functionality for the brokers' back office.
     
    PropertyInsight, 25th Jul, 2018
    #22
  3. PropertyInsight

    PropertyInsight Well-Known Member

    Joined:
    22nd Jun, 2017
    Posts:
    332
    Location:
    Australia
    Thanks a lot for your advice.
    I definitely run under a company name as I can not risk my personal asset loss. Also, as I will run an online business (I have sharp my online business niche yet), it is very high risk. Therefore, a business run by a company will be safer.
    I will listen to all your advice.
     
    PropertyInsight, 25th Jul, 2018
    #23
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    42,051
    Location:
    Australia wide
    Don't forget it could be a very valuable business too one day. So you need legal advice on how to own that company. And/or whether it should be acting as trustee.
     
    Terry_w, 25th Jul, 2018
    #24
Page 2 of 2
Build Passive Income WITHOUT Buyers Agents!

Build Passive Income WITHOUT Dropping $15K On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia