One of the most important aspects of property investing is to appreciate the fact that you need to set up and incorporate all your asset protection and all financial structures prior to selecting your investment property and signing a contract of sale. Without going into any detail, or giving you any advice here, for some this could mean incorporating a corporate trustee and a trust. Getting this part right is essential in your long term success as a property investor, especially if your goal is to build and structure a substantial property portfolio. Getting the structure wrong could not only restrict your borrowing capacity but make some portions of your expenses non-tax deductible, as well as have substantial negative monetary implications in the long term. For example, whilst current legislation allows off-the-plan property buyers in Victoria to put their names and/or nominees on contracts of sale and later incorporate the required entity (corporate trustee and trust), in Queensland, if the purchasing entity is not in existence prior to signing the contracts of sale, this would trigger a scenario where the purchaser would be required to pay double stamp duty on the purchase…ouch!Just to put that in perspective, on a $500,000 house purchased in Queensland, the stamp duty is $25,070, so imagine paying that twice, or $50,140. (source:www.sro.vic.gov.au).So just like building a house, make sure that the foundations are built correctly before you build the house. Once the walls are in place, it’s very difficult and expensive to backtrack.