Hello to all
I have a question regarding a group called SMSF Propery Advisers in Brisbane. I am looking for my 2nd SMSF IP and looking to all avenues.
This group are starting a managed fund with buy in via units and all the advantages of a unit trust. The point of difference is that is for a particular development in Paddington Brisbane.
I have a great team around me for specialist advice. Looking to the forum for any investors who have experience with this group or know of them.
Many thanks
I would be very wary of any SMSF advisor recommending purchasing in a single building for all of their investors – this is not advice tailored to your situation but an investment providing sales to the developer. Sure they may be recommending a structure of a unit trust (and using your super) etc but what differentiates these guys from the spruikers?
- How will this structure affect the performance of your investment? This will be a residential building with 100% investors ie no owner occupiers/full of tenants/lots of differing owners points of view on Body Corporate but no occupiers who 'look after the place' etc.
- Where will each member's superfund get the ongoing maintenance costs?
- Has a deal been stitched up with on-site management (or have laws now been passed in Qld to prevent this scenario)? To whom? What is their association with the developer/spruiker? How long is the contract? Who is to profit from the contract?
- Are you assigning your BC voting rights to the building manager?
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