Are you the fifth member of the band?
Claire Taylor- 6th August 2020
An exciting opportunity to join a Property Circle as Director – without making a cash contribution.
My Property Circles helps people break down the barriers of owning investment property, through shared investing. With lower costs to entry, this means you can buy multiple investment properties and share the costs of deposits and expenses!
Joint venture investing isn't a new concept but the protection and the ease of putting together the structure has always represented complexities and been a barrier to moving forward.
Until now that is...
A Property Circle is a Unit Trust with a corporate Trustee that is in charge of the day to day operations of the Circle. The Corporate Trustee works closely with My Property Circles to support the trustee with legal, accounting, mortgage conveyancing, property management and the overall smooth running of the Property Circle Unit Trust.
While fully supported by My Property Circles and key suppliers, final decisions are made by the Unit holders and the Director/s of the Property Circle Unit Trust.
We need one more member for the next Property Circle.
There is an exciting opportunity to invest in a dual key property in Moreton Bay, just north of Brisbane CBD. A Property Circle has formed that is currently looking for a Director.
This dual-occupancy property has been secured for a very competitive price that is no longer available in this development due to recent price hikes. The property will be completed to the highest standards and comes with a guaranteed rental yield of 7% for the first two years, providing you a healthy return on your investment (reverts to 6.5% year 3).
What is the aim of this Property Circle?
The Circle’s mandate is determined by all the members of the Circle, and their initial vision is to create a Property Circle that will:
- Purchase 4 properties in 5 years, with a price point of under $600,000
- Select properties with a strong rental yield and capacity for capital gain.
- Aim for each member to invest between $20,000 and $30,000 each year.
How much am I expected to contribute?
There is an option for you to join as a Director without making a cash contribution. Regardless of your cash contribution, as Director you will be paid: $5,000pa or $25,000 over five years paid in cash or units in the Property Circle Unit Trust.
The four other members of this Property Circle are contributing $29,000 each in the first year, and there is an option for the fifth and final member to do the same and own 20% of the Circle.
If you can’t make a deposit annually - that’s OK. The annual amount is an expectation that you agree on at the beginning, but it is not a legal obligation as we know that your life circumstances can change from year to year
What does a Director do?
The Director will assist with chairing meetings of members, apply for mortgages for each property investment, and key decision making in the Trustee Pty Ltd.
You will be fully supported by the My Property Circles team and key property suppliers and experts. There will be a minimum of two member meetings per year, which may be conducted by Zoom or similar.
You will have to apply for a mortgage on behalf of the Property Circle Unit Trust.
Interested? Email Claire.firstname.lastname@example.org