All Topics / Finance / Self managed super fund

Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of SalinaSalina
    Member
    @salina
    Join Date: 2009
    Post Count: 8

    Hi

    Can anyone recommend a company that specialises in SMSFs?  I already have a number of IP's and am at 80% borrowing capacity.  I would prefer not to borrow against these IP's or against my residential home.  I have around $90K in super and would like to explore the option of buying a property using this super. 

    Profile photo of Mick CMick C
    Participant
    @shape
    Join Date: 2010
    Post Count: 1,099

    From what i understand it’s only worth while to take out a SMSF if you have $150,000- $200,000 + else the fee’s involved would eat up any gains; Unless you have a strategy where you can make constant 10% yield.

    Google a bit more details on SMSF and see whats involved + what the fee’s are.

    http://www.colonialfirststate.com.au/prospects/FS2358.pdf

    Regards
    Michael

    Mick C | Shape Home Loans
    http://www.shapehomeloans.com.au/
    Email Me | Phone Me

    Same Banks. Better Rates. Served With a Passion.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hate to disagree with Michael but with 90K you coukld certainly look at starting a SMSF and buying a property within the fund.

    Ideally you would love to have $150K in Super to start but if you want to invest in property and the Trust Deed and Investment plan of the Trustee allow the Fund to go that route it certainly is doable.

    Even at a 70% lvr if you only used $65K post costs of your SMSF then you are still buying around the $215K mark.

    I have just done one for a forum member who purchased in regional Vic for the same money and they started the SMSF with similar amounts.

    Be suprised not as expensive as you first think.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Mick CMick C
    Participant
    @shape
    Join Date: 2010
    Post Count: 1,099

    Thanks for that Richard, will keep that in mind…
    I’m still pretty green when it comes to SMSF.

    Regards
    Michael

    Mick C | Shape Home Loans
    http://www.shapehomeloans.com.au/
    Email Me | Phone Me

    Same Banks. Better Rates. Served With a Passion.

    Profile photo of maree_bradrossmaree_bradross
    Member
    @maree_bradross
    Join Date: 2007
    Post Count: 401

    Hi Salina,
    I am the forum member that Richard is referring to.
    Combined my hubby & I had just over $100k in super. Richard is helping us get a deal across the line with purchasing a property in regional Victoria (very close to our existing IP) – so far so good

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Maree

    Sorry wasnt going to mention you in person.
    Yes all good so far and a great property Maree has purchased.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of maree_bradrossmaree_bradross
    Member
    @maree_bradross
    Join Date: 2007
    Post Count: 401

    lol no problemo Richard – happy to shout it from the rooftops :) You have made the whole process so easy for us.
    This is the 2nd time Richard has been able to help us in 18 months

    Profile photo of angelinsydneyangelinsydney
    Participant
    @angelinsydney
    Join Date: 2011
    Post Count: 270

    Hi Richard,

    You can certainly teach an old dog like me, new tricks.

    I am Sydney based but I will work with you to get a deal across.

    I will send you an email. Watch for it, please.

    Thanking you.

    Angel

Viewing 8 posts - 1 through 8 (of 8 total)

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