At my recent trip to Hong Kong, I was chating to the person siting next to me who has just started his property investing business, something that is also closed to my heart and we were talking about the advantage of properties investing and he suddenly came up with Capital Gain Tax discussion and I told him that first there is always an CGT allowance each year, so if the property is purchased by husband and wife, they will have 2 lots of CGT allowance when they decide to sell which is currently over £18000 per year and the figure change each year. I told him that it gets better if he never sells the property, then there will never be any CGT liability and CGT dies when we eventually leave this world, ie CGT dies with us.
His response was that this was something he had not known before and he told me it would make a big difference to him AND to his clients. Which clients? Well, those who come to him for financial advice... Yes, he's an IFA.
So when I provide coaching and mentoring, I often find my clients telling me that what I'm saying conflicts with the advice they've been given by their IFA, bank manager or accountant. This is no great surprise because all these people are either spouting conventional knowledge or they are selling other investment opportunities on which they'll earn a commission.
When I am speaking about property, I am giving the benefit of my many years of experience in property with the sole aim of getting my client to where she wants to go.
The moral of this tale? Only deal with professionals who really know what they're talking about, learn from people who've already achieved what you want to achieve.
Anita Li
for more real estate books, visit ebookstore
No comments:
Post a Comment