Self Mananged super funding investments

Viewing 7 posts - 1 through 7 (of 7 total)

Kazbrown
Member
@kazbrown
Join Date: 2012
Post Count: 1
October 22, 2012 - 1:59 am
HI is anyone out there using there super to fund there investment property, do you have any advice on this there seems to be higher fees with the banks for Legal reasons, Any info would be appreciated.
Jacqui Middleton
Participant
@jacm
Join Date: 2009
Post Count: 2,539
October 22, 2012 - 2:30 am
The high fee you are referring to is partially due to the fact they have to read through trust deeds of your super fund to ensure it will not be breaching any SMSF laws. Lawyers are not cheap.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
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VIC Buyers' Agents for investors, home buyers & SMSFs.
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
October 22, 2012 - 12:43 pm
JacM wrote:
Lawyers are not cheap.

Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Scott No Mates
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@scott-no-mates
Join Date: 2005
Post Count: 3,856
October 22, 2012 - 9:20 pm
JacM wrote:
Lawyers are not cheap.
But they are easy
kong71286
Participant
@kong71286
Join Date: 2009
Post Count: 261
October 22, 2012 - 11:36 pm
With all Terry's credentials I wonder how much he charges
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
October 23, 2012 - 3:21 am
My fees are pretty reasonable I think. I tend not to charge hourly rates for the legal work and do fixed price agreements. For the mortgage broking side I generally don't charge, for the tax side I work with accountants who charge fixed fees for returns.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
October 23, 2012 - 9:12 am
Hi Kaz
Sorry i have to disagree.
I do a fair number of SMSF loans and you would be surprised as to the difference in costs / interest rates between lenders.
The big 4 (Anz does not write residential SMSF loans) are out of touch when it comes to their charges and costs hoowever away from these lenders the competition is good.
Remember many lenders charge on the basis that they consider the loan to be a Commercial transaction.
Get your Mortgage Broker to shop around and i think you will be see the difference.
As for the comments on lawyers fees i never have a problem in paying a sensibleprice for good advice.
I know what we charge a client for doing a development finance deal or putting an investor into a Vendor Finance deal and i bet it is lot more than Terry charges for legal advice.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender