What to do before you sign the contract of sale
podcast

What to do before you sign the contract of sale

Cherie Barber, Renovating For Profit

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We live in an age where renovation shows are on TV on every channel, and that's fantastic. I love all of the renovation shows because they motivate and inspire normal, every day Australians to go out and create wealth through renovation. The problem is most people watch the shows and they go out and buy an un-renovated property and they don't lay the foundations right. What I say is before you sign any contract of sale, you really have to ask yourself; should I buy this property under my personal name? Should I buy it under a company name? Should I buy it under a trust structure? Now the answer to this question is not black and white, it depends on your own individual circumstances and in particular how many properties you want to flip each year. So before you rush out and buy a property, my advice to you is to go and see a very good property accountant. Work out the most tax effective solution for you so you can make sure you don't pay more capital gains tax than what you really need to.

Listen to other instalments of The Smart Property Investment Show:
Episode 104: New podcast: Q&A session with Paul Glossop – more questions answered!
Episode 103: Special Episode: Phil and Munzurul talk steering the growth and development of portfolios by managing cash flow
Episode 102: Investor reveals how to find the perfect property manager
Episode 101: From 12 to 100 properties – how this investor will achieve his goals
Episode 100: BONUS EPISODE: Property investor talks research, teamwork and balance in his portfolio
Episode 99: Portfolio update: SPI opens its books to reveal all the nitty-gritty details
Episode 98: BONUS EPISODE: Buyer's agent forecasts what’s to come for Aussie property market
Episode 97: ‘How we achieved financial security through property’ – the Property Twins reveal all
Episode 96: BONUS EPISODE: Tips for tackling pest and building inspections head-on
Episode 95: The top 10 things every investor should check before buying a property
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What to do before you sign the contract of sale
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