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

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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[@Podcast_in_the_Car]

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

[@colleenstuart190]

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

[@MyPropertyBusiness]

Glad you enjoyed it

[@tshidimoabelo3908]

This is good information . thank you

[@MyPropertyBusiness]

You are welcome!!

[@VELLY3332]

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]

Best of luck! and thank you for the feedback!

[@Nyakallo_203]

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]

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/

[@nomthintleki5772]

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

[@rbee2062]

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?

[@lmill2555]

Please do a video on alternative funding strategies

[@MyPropertyBusiness]

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

[@markuskiefer4625]

Yeah please could you do this

[@zanelenxumalo5057]

Thanks i same position

[@MyPropertyBusiness]

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

[@musawenkosimakhoba9028]

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]

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

[@mightylove]

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

[@mariogovinder1819]

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

[@MyPropertyBusiness]

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

[@queenbeeeza1706]

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]

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

[@selloseoketsa5587]

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

[@MyPropertyBusiness]

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

[@siyabongasibanyoni6595]

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

[@MyPropertyBusiness]

Any time!

[@Bloody_alchemy]

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]

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]

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

[@MrFarrell7]

How does one open a company to purchase property?

[@MyPropertyBusiness]

please contact [e-mail] and she will assist with this on a small fee

[@mightylove]

@@MyPropertyBusiness you are definitely not here to help. Only here for the profit.

[@aaronboltman344]

Hi Retha we ready to buy our first investment property can you please help us set up the business...

[@MyPropertyBusiness]

Hi, I can definitely assist. Please send an email to [e-mail] and she will help you to get it registered and compliant.