Structuring for commercial property

Hi There,

I have a query and wondering if anyone can give me some legal guidance.

Me and my partner have a owner occupied home loan together.

We are buying a commercial property which is positive geared. For initial 5 months we wont be getting any rent on the property but we will be paying the interest, however after that it will generate rental income and will be positively geared.

After one year I might go on 1 yr maternity leave.

My question is, is there any benefit in me owning the commercial property instead of both me and my partner. Or do we need a trust. The property value is around 150k.

Also after one year we will move into a newly built house and rent the current house we live in. Considering this would it make sense for me to own the commercial property now and my husband owns the loan for newly built house later to avoid serviceability issue?

Also, If anyone can give me details of a legal advisor whom I can approach in Melbourne that would be great.

Thanks,
Sam

 

You will need specific legal advice because the structure to be used will depend on a heap of different factors. Once you have decided on a broad structure you will then need to consider the structure of the structure and funding options.

 

I see. Thanks Terry for directing me in the right direction.