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  • Profile photo of merlinnnmerlinnn
    Participant
    @claude78
    Join Date: 2014
    Post Count: 5
    December 11, 2014 - 9:19 pm

    Well I’m confused now…

    I have spoken to multiple people over the last few days all with various opinions, however one did seem to gel with me. A family friend mentioned I should ditch the unit idea and look for a normal house in the burbs, on a larger block with the option of carving it up later. A bit of digging around and I managed to find a 4 bedroom early 80’s style home on a 780sqm block with a small see view from the master bedroom. The zoning in the area allows blocks to be a minimum of 236sqm. Asking price 320k open to offers.

    Can I please ask the members here for their opinions on this scenario?

    Richard I was in contact with you just before you left the other day, hopefully you can work your magic on our application soon.

    Profile photo of merlinnnmerlinnn
    Participant
    @claude78
    Join Date: 2014
    Post Count: 5
    December 8, 2014 - 10:09 pm

    By purchasing a small unit I thought it would be possible to purchase 2 x properties instead of 1?

    The SMSF has been setup for two years now under a corporate trustee, predominantly share trading.

    Again I thought buy a studio outright and start deriving an income stream of which will also help support the purchase of a conventional 2 bedroom unit. My logic was to buy the studio out right as I would not be able to purchase it after financing a 2 bedroom unit. Being 35 I have a long investment horizon ahead of me.

    Or should I just put the bulk of it into financing a normal 3 bedroom house in the burbs?

    Profile photo of merlinnnmerlinnn
    Participant
    @claude78
    Join Date: 2014
    Post Count: 5
    December 8, 2014 - 9:29 pm

    I was looking to buy within the SMSF and yes most of the studio apartments are very small, hence I did not think finance was possible?

    I guess my logic was to acquire 2 x properties ASAP as opposed to just financing one? Could I finance 2 properties with 120k?

    Profile photo of merlinnnmerlinnn
    Participant
    @claude78
    Join Date: 2014
    Post Count: 5
    December 8, 2014 - 5:33 pm
    Adrian Cahill wrote:

    Hi Merlinn,
    Great to see you here. As for your post, not quiet sure why you haven’t gotten good replies yet however it could be due to a lack of detail. To make suggestions there are a lot of grey areas.

    Thanks for the feedback Adrian

    Firstly, what are you investing for?

    Capital growth would be nice as I am not needing a positive cash flow at this stage in super (only 35)

    What are your goals?

    To diversify from the markets and long term own 6 to 10 properties for an income stream in my pension phase (maybe in 40 years pending legislation)

    Why property?

    It is the only gearing option inside super except for CFD’s which I am not a fan off.

    Generally big picture questions, then later getting more specific.

    • This reply was modified 9 years, 11 months ago by Profile photo of merlinnn merlinnn.
Viewing 4 posts - 1 through 4 (of 4 total)