Trust set up etc, post accountant

Had a long chat with the accountant,  it was going good but my business partners lack of structures and lack of confidence in general caused the meeting to go for an hour and a half. But that is what i am for,  their lack of confidence is why they wanted me as their business partner.

The accountant started off trying to talk us out of a trust structure, and especially out of a company trustee set up.  but after questioning all of our circumstances he STRONGLY agreed that a company as trustee was the best option for us.  its good in that my knowledge is reassured by his advice. but his initial comments and a few he made during the meeting made me think that he has good investing people and property people around him.  but his person knowledge of investing isn't that great.  it seems to be based on his clients experiences not his own.   but good point was at the end of the meeting he did not charge us for the hour and a half of his time.

we will definitely be setting up the trust in the future, but no need to do it just yet.
Our finances will become available in feb of next year (2011) and so we will probably set up the trust next month or even jan next year.

I am currently starting exams and so have less time to dedicate to this until the end of the month. but then i will be on holidays from uni and can really focus on the business side of things.   first things i will do is modify some of the spreadsheets i have and create a few new ones to simplify the analysing and recording side of the investing business.  these will include a few initial feasibility study sheets, as well as some discounted cash flow sheets as well as some sheets to monitor progress and let me know if they need some attention or to be sold (market underperforming, bad news etc).

I went to a property meeting the other day with a melbourne company, it was funny to see through all of their stuff.   they did a quick market analysis, and gave me the info i had already received from other meetings. but where the other meetings address all the pros and cons to prove their market analysis,  this company only showed one side of the situation,  this allowed them to push the properties and services they were selling.   having been in sales myself a few years ago, i could tell straight away when the seminar was coming to an end by the words he used, very specific wording of sentences that lift up hope and make you think you need to do everything right this very second.  i think everyone in the room signed up to one of his free meetings, where a rep comes to your home to discuss your future goals etc.    also this company very strongly pushed negative gearing.   it can be good.   but not useful in my situation.   oh i meant everyone in the room... but me!  :P

i did win a bottle of wine, and bought a bottle of moet champagne for 7 dollars!  thats a 93 dollar saving!  so was still a fun night!  

unfortunately one of my exams falls on the 16th of this month..... and starts right at the same time as steve mcknights property seminar thing.... i was hoping to go to that, and bought 2 tickets... i guess this is where i get to test out my business partner and see what they think at a meeting without me.