All Topics / Legal & Accounting / Set up costs
Hi all,
I was hoping for a bit of feedback on expected setup costs for a smsf.
There will be 2 members and we expect to borrow to purchase a property asap.
Thanks in advance,
Mick
1. Set up costs (including the entities for a purchase) = Approx $3k
2. Lender Upfront Fees = Approx $2k
I normally deal with the Dragon for SMSF because its simply has the best product and lenders are slowly catching up. Just note that if you go with St George they lend at different LVR's based on the Trustee entity.
Also be wary of the postcode of security and also the security type (i.e. vacant land, company titles, NRAS) as St George doesn't accept them.
Regards
Shahin
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
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I would say $2,000 to $20,000 to set up. Def have a company as trustee and I agree with Shahin St G is one of the best lenders out there.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Mick
Feel free to shoot me an email and i can send over my Ebook i wrote last year on SMSF.
Yes agree with Shahin last one we set up thru our Financial Planning Licensee they charged $2200.
SGB is certainly one of the leaders in the SMSF sphere but with lenders launching new product each day matter of reviewing each deal prior to submission.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Thanks Gents for your responses.
Richard, I have sent you an email re your Ebook.
Thanks Mick
Hi Mick
This is what we charge at the law firm
$1235 for SMSF trust and Corp Trustee and advice
$1235 for Bare Trust and Corp Custodian and advice
$595 for Related Party Loan Agreement and advice
Prices vary greatly depending on whether any advice is included and also some accounting firms heavily discount the way in , in return for getting the ongoing admin work each year
Darryl
RPI | Certus Legal Group / PRO Town Planners
http://www.certuslegal.com.au
Email Me | Phone MeProperty Lawyer & Town Planner
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