Existing 2brm Unit Under $800,000
About
Minimum ~$45,000 per unit holder | 5 year term | Settle Property | Lease | Hold for 5 Years | Sell
This Tryb is for those property investors that want to join others like them to band together and purchase an existing 2brm Apartment under $800,000.
INVESTMENT MANDATE:
By joining this group I confirm that I am interested in becoming part of a property unit trust with the following rules:
Investment Term: 5 Years
This Unit Trust is designed to purchase property as per the property description and hold it for a period of 5 years. At completion of 5 years the property will be sold via the sale method of sale.
Method of Sale: Valuation then Auction
At the end of the Investment term, the property will be valued and then listed for sale with a local agent to be selected by the Trustee. The sale method will be by Auction.
Minimum Sale Value
At the end of the Investment Term, the sale value accepted by the trustee must be at least market value +20% in order to be accepted. Any amount less than the minimum sale value must be accepted by the unit holders in a majority decision.
Professional Trustee
The Trust's accountant will be appointed as the Trustee for the Trust who must act under the rules of the Trust, and where rules fail must take a vote from the unit holders where majority rules.
TRYB GENERAL RULES:
Joining a Tryb
Joining a Tryb simply means that you are joining others in an online group as a way of expressing interest in setting up a Property Trust with a set Investment Mandate. It's the way members find others with aligned goals.
Images not of real property
No property has been selected by the Tryb yet and any images of property shown here are indicative only to communicate the kind of property the Tryb Property Trust will purchase once established. Tryb App does not buy property and then sell to members, it ONLY provides a way for members to find each other and agree to buy something together.
Once enough people join
Once enough people have joined this Tryb to express their interest, the Tryb will 'go live' and you will receive an invitation to meet with a Tryb approved law firm. They will explain the standard legal documents to you and assist you and the other members to establish your unit trust, issue units to you and explain your legal obligations under the unit trust.
Must Remain a Paid Tryb Member
Please note that you MUST remain a paying Tryb member in order to participate in your trust because all of the communication of your trust is done through the Tryb app.
When do you need to invest your money?
Once your trust documents have been signed, funds are deposited into your Tryb solicitor’s trust account until such time as the Trust is established. Once your Tryb Property Trust purchases a property, the solicitor will deposit the funds into the seller's solicitor's account to settle the property with any additional funds being paid into your Unit Trust’s bank account.
Group Rules
5 Year Investment Term
This Unit Trust is designed to purchase property as per the property description and hold it for a period of 5 years. At completion of 5 years the property will be sold visa the sale method.
Sale Method: Valuation then Auction
At end of the Investment term, the property will be valued and then listed for sale with a local agent to be selected by the Trustee. The sale method will be by Auction.
Minimum Sale Value
At the end of the term, the sale value accepted by the trustee must be at least market value in order to be accepted. Any amount exceeding market value must be accepted by the trustee.
Professional Trustee
The Trust's accountant will be appointed as the Trustee for the Trust who must act under the rules of the Trust and where rules rail must take a vote from the unit holders where majority rules.
Fees as per the standard Tryb Fee Schedule
Fees as per the standard Tryb Fee Schedule available here: https://www.tryb.au/fees
Info
- Paying members
Only paying members can view group content.
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October 21, 2024
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