Forum Replies Created
- elkam wrote:
Can you tell me where I can find more information on the new lending rules.
Also any information you want to share on the loans which are allowed would be most wlecome as what you have described in your post is what I would like to do (buy a commercial IP within a SMSF).
ElkaHi Elka,
Here's a few posts/articles I've been looking at
http://www.investordaily.com.au/cps/rde/xchg/id/style/3259.htm?rdeCOQ=SID-3F579BCE-3888AA72http://www.somersoft.com/forums/showthread.php?p=348596
http://www.financialstandard.com.au/index.php?id=11046#Scene_1
Just found Calliva have a heap of info on this – check this link
Thanks very much Richard,
If you hear that any particular lenders are surging ahead in this area please keep us updated.My wife and I have 50K+ that's built up over the years in our individual super funds. On top of that our employers are contributing 1000 bucks a month, which is currently invested in our employers default super fund.
That's OK, the returns so far on the super money have been good, but we've made better money with our own investments in property, and want to continue on this path.
But, as we purchase each new property it gets harder to get finance, and to come up with a deposit.
It would be nice if the super fund could pay 10% of the property (the deposit) and then return a 10% share of the profits when the deal is finished.
That way the super fund is making good returns, we don't need to fund a deposit each time, and need to borrow 10% less on each property.
That's the theory, but the questions posted above might stop this working as I could run out of equity, or find other legal issues which get in the way. The rules on investing with SMSF are quite strict I believe.
I should know more tomorrow as I have a meeting with my accountant who has set this up for himself.Hi Terry,
Not enough in my super fund to purchase outright. My contribution to the unit trust will be borrowed.
Have you set up a SMSF?
