Shop around and see how you go. Run Property is generally reasonable for a IP I have in the area, I could check the rate they charge if you like.

Shahin,

In relation to using online packs, the only disadvantage is that a member may seek to DIY without understanding the bare trust structure itself. You can go out get a company set up and prepare a custody deed, however have no knowledge of the requirements of SIS in purchasing a property in a SMSF. That is ensuring that you structure correctly (corporate trustee), lender requirements (use of a broker for example) and key errors made by members in the property purchase….i.e pay deposit through SMSF not personally, name on contract of sale…..etc. Therefore important to receive advice from a qualified professional throughout this process to ensure you are compliant as if you make an error it will be significant in that you may be non-compliant and taxed at a marginal tax rate….

In summary, SMSF members should seek advice prior to entering into a property purchase through an LRBA, this does not have to be a $5k SOA, moreover can include approaching SMSF professionals such as administrators, lawyers etc that do these deals daily, a small cost will benefit in the long term, after all, a SMSF is a long term strategy.

Hi jacobapple, 

I have not heard of inpropusa, we do some business in the states and there is no shortage of Aussie's selling property there especially Geogia, Florida and Texas.

Best thing you can do is ask around, before you proceed (as you have), if you have not already attached is their team from their site

http://www.inpropusa.com/meet-the-team/

You would want to know what their methodology is, everyone is buying in Atlanta at the moment, also what stucture. For instance, many of my clients buy in their SMSF, so advice is imperitive.

As I say, there are a heap of Aussies out there selling properties, I know one I do business with and someone I can refer you to if you donot proceed. Will be in the states late Feb to buy some property also.

Hope that helps

Hi Phil, which state are you looking at? if its Vic, I can recommend a good person to speak to about changes in local areas. If you have a specific area, you can contact a local council and the information will be public or meet with a consultant to discuss options in a locality. Cheers.

Hi guys, how fitting was going to start a thread on this. 

We are looking for a commercial property valuer in the Mansfield/ Eildon region.  Any recommendations for a local reputable and cost effective valuer would be great,

Steam clean

Gizzy,

Had a client ask about them in the last fortnight, they have a number of seminars in Melbourne at the moment however, I have not used them. Refer below

https://www.propertyinvesting.com/forums/heads-up/4346677

G'day QLDs007, 

Our fees are clearly stated on our website firstly this includes custodian trustee (including ASIC fees) plus custody deed.

Let me clarify $1750 is for bare trust or Limited Recourse Borrowing Agreement (LRBA) set up NOT SMSF set up.

Are you saying $1750 is steep? please prove me wrong here.

As you know ASIC fees are just under $500. Excuse me if we are on different pages, however, I will stand by our fees 100% as has been mentioned in the thread, many others charge much higher for these services (up to $5k) and many of our clients are extremely attracted by our fees and more importantly our experience in the area.

Please clarify what your quote of $950 involved as if it was for custody deed plus custodian trustee it just would not be sensible in my opinion in consideration of ASIC fees for setting up a company plus labour.

As Terry Said you need two structures.

Recommend the SMSF with a corporate trustee ($900) – this is one structure where the members will be directors of the company or trustee.

Second is commonly referred to a limited recourse borrowing agreement or 'bare trust'. Set up cost of $1750.

This is for the SMSF only – ongoing annual fees around $1000 including audit.

In relation to the loans, many of the banks are waiving their application fee (I can name three of them), and for residential you will incur legal fees to review the deal charged by the bank in between ($600 and $2000).

Its a long term decision as you know SMSF is for retirement purposes and an advantageous tax rate is received,

My advice – get advice, don't be scared off, its all about being educated in relation to the SMSF and the opportunity.

So you are thinking a roomshare or 'air B&B' arrangement.

If you are receiving income which you are you will be taxed on it. If you plan to sell the house, it will effect your main residence exemption. Do you fully own the property?

Have a serious think about your insurance and ensure they sign a tenancy/ roomshare agreement, short term stayers in those areas can go either way. Think about damage to your property so consider that in your bond with the tenant. Overall also consider cost v benefit, and the demographic of the individual who will be staying in the property….