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Do Not Buy a Property in Your Personal Name (Property Investment For Beginners)

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I learnt so much the hard way when I started out in property. The thing about property is that it is a slow process and one wrong decision can be with you for years. I bought 5 properties in my personal name and ended up paying so much tax on it, due to me also still being employed. I also couldn't move it to a company due to my personal affordability being overextended at the time.
Know what to do before you buy an investment property and make sure you are happy with your decisions for years to come.
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Опубликовано:

26 авг 2024

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Комментарии : 36

@Podcast_in_the_Car 5 месяцев назад

You can register a rental business Which will receive your rental incomes on the properties (and work out the taxable amount less expenses) You will have a lease agreement between you and your business for minimum amounts. So that little taxable money is coming to you in your personal capacity. My accountant @The King's Chartered Accountants taught me

@VELLY3332 3 года назад

Thank you so much for the info, I also bought my first property under my personal name, now im busy with the second one under the company😊 thanks to M5 property varsity😊😊😊👌👌👌 thank you so so much with the info

@MyPropertyBusiness 3 года назад

Best of luck! and thank you for the feedback!

@rbee2062 3 месяца назад

How long did you wait before you went to the bank for the 2nd bond? What are the time intervals of buying the properties between the acquisitions?

@Bloody_alchemy 3 года назад

Nothing wrong with property in you're own name if your under the higher rate tax bracket. If you want to acquire more that pushes you into that 40% rate then put those in a ltd company. It's good to have a mix

@MyPropertyBusiness 3 года назад

There are many way to do it, that could be another way however when you die - half your estate will go to Govt in taxes... but totally agree with you

@celebrityscoop981 2 года назад

How can one reach out to you...you seem more educated bout property investment

@Nyakallo_203 2 года назад

Hi Retha,great content thank you. Kindly share other funding strategies. You're quite right, somewhere in life one do run out of affordability

@MyPropertyBusiness Год назад

Many options A Trust A Company A CC The list goes one... but it depends on what you are trying to do, we can teach you how to do it correct for your journey tauraijack.com/join-the-academy/

@colleenstuart190 2 года назад

Good one. Thank you for the reinforcement, from someone who has had a personal experience of the undesirable.

@MyPropertyBusiness Год назад

Glad you enjoyed it

@lmill2555 3 года назад

Please do a video on alternative funding strategies

@MyPropertyBusiness 3 года назад

Thanks for the suggestion...will definitely do that!

@markuskiefer4625 3 года назад

Yeah please could you do this

@nomthintleki5772 Год назад

Hi thanx for the video it's an eye opener. I really need a mentor on property I'm in Durban

@siyabongasibanyoni6595 Год назад

Selling the property to yourself 😂yoh thanks for the great video..

@MyPropertyBusiness Год назад

Any time!

@musawenkosimakhoba9028 3 года назад

Hi Retha, thanks for sharing. I am keen on the structure you ended up buying in now (PTY/LTD) or a TRUST? And whether your due diligence indicated one as being better than the other in your own case. I know its something different for everyone.

@MyPropertyBusiness 3 года назад

Elize at our legal office can help. Do you have her details

@mightylove 2 года назад

@@MyPropertyBusiness you could have just given him your answer without referring to the other person. Is that so difficult?

@tshidimoabelo3908 3 года назад

This is good information . thank you

@MyPropertyBusiness 3 года назад

You are welcome!!

@queenbeeeza1706 2 года назад

Hi Rita, How then do you prove affordability to get a mortgage if its a newly formed company and it has not generated any Income?

@MyPropertyBusiness 2 года назад

In most cases you will probably have to stand surety for the bond - some funders will only look at finances of the property.

@selloseoketsa5587 3 года назад

OMG!! I'm in a similar situation.I need help Retha

@MyPropertyBusiness 3 года назад

hi Sello book time with me on www.m5propertyvarsity.com/Retha

@zanelenxumalo5057 2 года назад

Thanks i same position

@MyPropertyBusiness 2 года назад

If you would like to book a one on one coaching session with Retha you can use this link and in the session you can create a roadmap on the way forward with your properties. www.m5propertyvarsity.com/Retha

@mariogovinder1819 3 года назад

I find myself in the exact same situation. Can you indicate which other funding banks or institutions there are.

@MyPropertyBusiness 3 года назад

There is +60 banks in SA you need to knock on many doors to get to the one that will be happy with you and you will be happy with. There are many products as well within the banks and not many will work for you... Good luck on your search