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Great thread,
Mistakes along the way:
Not starting early enough in life.
Wasting my deposit on holidays.
Didn’t have a solicitor that understood SMSF to handle the fund when buying property.
And I’m sure there will be a few more to go.
Terry said it best. Its better(and a lot cheaper) to learn from others mistakes.
Cheers Terryw,
And as for the time frame. Is 6 months standard or could I ask for longer? Say 1yr or 2yr?
Hey guys,
I’ve found a block I want to put an option on. They are asking $350k – $380k for it. What is the best way to go about asking for the option? How much should I offer to for the option etc? I want the block but funds are tired up with other properties at present. Is this the best way to go about it? Advice please.
Thanks NI,
Will have a look. Thanks mate.
Ash
I need a good property manager in Cairns. Anyone know of a good professional?
net yield of @ 8.2 once Body corp and rates are taken
Hey mike thanks for the great info. huge help
Ash
what would you expect to pay someone to set up a Bare Trust and whatever is involved to buy a property in a SMSF?
Just bought a 2bd unit in Cairns 1 block from uni for 110k renting for $235. Bought it through our SMSF so no rush for CG. My first +cashflow. yay
Hey guys what is the tax advantages with IP in SMSF? is it the same as personal as in write off visits to the property for inspections?
Does the income from the property count towards my contributions as i am currently at limit?
Regards
Ash
Hey,
can anyone recommend a safe to hold 10 x 1kg silver bars at home????? and where to buy it please.
JacM.
How huch did your current super fund charge you in fees last year?
How much did they make you?
I did not have much in my super at all either so my partner & i combined the both of ours as you can do with up to 3 other people( trusties ). Investors pool their funds to get better market share, better returns & limit risk. My farther wants to become a trustee in our fund as well as his fund is hasn’t made much head-way for some time.
I am settling on a 2br 1bth unit for 110k returning $240pw. The SMSF will put up 30k + closings as the bank will will lend 72% LVR.
Thats 11.3 % yield gross. I think now is a great time to buy some great buys in the lower price range. And if the market does drop, the loan repayments wont put a strain on the fund. As for now, after all cost it will put about $40 pw back into the fund.Hey Tickle
My partner & I are also both in the top tax bracket have found the best thing for us was to get our super into a SMSF( you dont need $200K ) & the NRAS program to reduce the tax mans take on our money. With the worlds monetary problems getting worse as time goes on, I will not be maxing out my credit.
Ash
Hi JacM,
Just buying my first property through my SMSF & its pretty straight forward. U Just need to set it up.(@ $1500-$2000. Can put u on to a great guy who does ours from the Gold Coast) I had about $100,000. We took $40,000 for shares( opitons) $20,000 Gold/silver( physical ) & $30,000 for a deposit on a unit. St George will lend 72% LVR to a SMSF. My super has never looked so good & at the end of the day I have the say where my money goes. Let me know if u want details for my ” super guy “.
Ash
Hey Karen,
No worries. Just looking at a property now and will need to find a Building inspector, accountant & solicitor, anyone you recommend?
Hey Chiz,
My partner & I have been doing the Rich Dad coaching for about 2 months now and is the best money we have ever spent. Great support & very enjoyable. Please don't hesitate to ask any questions you my have. They have students in many countries so the content is suited to everyone. Our coach is great and calls us every 2 weeks. The coarse is 12 months long. Ash
Hey Karen,
Thank you so much for the advice. We are finding it hard to find local people to talk to so this is great. If you are in town at all, we would love to catch up for a coffee or something to discuss the topic. Thanks again. Ash [email protected]
