Hi Mark

Welcome :)

Low rental yield and a chance of slight capital gains doesn’t sound enticing to me. What is the definition of “low rental yield” and “slight capital gain” ?

On one hand $40k may not sound like much in the grand scheme of things, but I’m pegging it’ll take you ages to save that amount, so it would be a great shame if your $40k didn’t start earning its keep. That’s what investing is, ultimately. Getting the money you have to earn its keep. Help you into more assets sooner than you could otherwise save for, and/or produce income to assist with reducing your reliance on a job which is money in exchange for your labour.

It is unrealistic to expect one property purchase will ever make you financially free, let alone do so instantly. However it should be stepping you closer to your goal.

Terryw wrote:

There is no stamp duty or CGT on transfer to a beneficiary under a will or intestacy laws.

I’m glad that we’ve been able to point out the tax advantages as Terry has described above. I think if you and your mum sat down and worked out the CGT and stamp duty that would be payble you’d get quite a shock.

Hi Argyle

How many $$ does your SMSF have in its bank account that could be utilized for the purchase of property?

The boys are bang on with their comments.

Also when you get up to the part that you actually NEED an accountant, they do not need to be located near you. All can be done via email/phone/skype. So you need one that is a suitable balance of good in the field you need them to be, and appropriately priced. They can be located anywhere in Australia.

Hi Reiya

Welcome :)

Option 2 becomes a hassle if you have children because there is more “stuff” to move, and if you cannot get a rental in the postcode catchment of their school, then they have to change schools.

You don’t necessarily need a broker in Perth. You need a good broker. Most good ones do their work via email/phone/skype these days, so they can be located anywhere in Australia.

Further to what Tom has mentioned, it will also depend largely on whether you are able to secure finance to do a build. If you cannot, then building is not an option anyway.

Maybe do a bit of a look into that to see if you are eligible for construction finance or not.

You don’t necessarily need someone in Tasmania.

Accountants often do their work via email/phone/skype these days so you could choose someone good irrespective of their location.

Solicitor… for what purpose? Property purchase? It might not be the case that a Tassie solicitor you choose would be able to act for you on a purchase in another state. So define what the purpose is first.

Which state is the property in ? If it is in Vic you might be eligible to do a spousal transfer….

Hi Keren

A broker that is clever from the perspective of assembling a portfolio would assist you with restructuring for no charge.

Note that my comment is about restructuring of loans as opposed to “structuring” though.

Splendid. You’re “getting it”. If you can keep that focus of steel you can step closer and closer to your goals. Don’t let unnecessary noise distract you. Stick to facts and your knowledge and keep moving forward.