Wow the PIC group must be pushing hard with their seminars if they have to have someone join the forum and then post the same post 3 times.
Richard Taylor | Australia's leading private lender
No, I was just looking at all the posts… I joined the forum because I was reading other forums similar to this one.. thought i would be of some help as it was a forum that initally helped me.
Hi
Try this link – yes you can borrow to purchase property within your SMSF. Yes I work for Macquarie and NO it isn't a product plug, but to give you an idea on what are the products available to allow you to purchase property via your SMSF. I'm pretty sure most banks offer this type of product so its worth hunting around.
http://personal.macquarie.com.au/personal/products/super/super_funds/propertylever/propertylever_detail.htmActually it was your previous posts that helped me with my SMSF in august to begin with…. so thanks qld007
Actually it was your previous posts that helped me with my SMSF in august to begin with…. so thanks qld007
I got sick of paying expensive fees being a part of the super fund that the company I worked for put my guaranteed 9% in, I worked out that even if I contributed myself I was still not going to have enough based on the previous 10 year average annual returns. There are a lot of grey areas it seems when companies post their annual profits including it being almost impossible to find out exactly how much in fees were taken through investing,managing etc. I was paying a weekly amount for a fund manager I had never spoken to let alone have any idea what my super was being invested in.
I spoke to a few people and was referred to a company who had been going for over 20 years and with new legislation allowing a SMSF to borrow money to buy a property, I followed their advice and now instead of paying unknown fees and getting unknown returns as well as worrying about if my super will be there when I retire, I have been able to use my super as a healthy deposit, the rent and my 9% guarantee more than cover the loan and all expenses, the surplus reduces the loan and provides more equity to build a portfolio through my SMSF. It costs me $1100 a year to manage through the company and that is my tax and auditing for the fund, roughly $20 a week which is nothing compared to what I was paying and they do that all for me. Now my super will grow roughly 10% per year from the value of the whole property instead of making Maybe making 10% annually just on the amount in my company fund which was bugger all based on my own statement over a 12 year period, for 3 years they lost money as well as all my conributions, and no excuse and the directors still got paid masive salaries for losing my money as well as everyone else's.
For me personally, having a SMSF and using super invest properties and Sunpac was the best thing I have done as now I have my own strategy and I can also contribute my own money through salary sacrafice as well as reduce my taxable income and have even more money for retirement. Not only that, but I am not limited to how many properties I can acquire or any particular area.Just a quick announcement regarding an upcoming free series of seminars
This is a unique opportunity to discover today's most powerful opportunities to leverage your SMSF through trading and real estate. In this full day seminar you will discover how you could multiply your wealth using resources you already own and increase your investment income with great safety.
- Admission is free for traders, professionals, business owners and entrepreneurs who want to be able to leverage their self-managed super fund (SMSF) and take control of their financial futures.
- Your spouse and business associates are also invited free.
- Complimentary refreshments will be served.
- Limited seating. Attendance by reservation only.
The seminar is entitled "Leverage In Your Self Managed Super Fund." It's being sponsored by Aussie Rob and Lifestyle Asset Management. Lifestyle Asset Management offers Professional Tailored Solutions, tools and advice for real people just like you. At this seminar we'll share with you, the innovative, powerful yet completely safe and lawful strategies we've developed and used ourselves to help real people like you to:
- Enhance your confidence, skills and strategic knowledge of how you can leverage your SMSF
- Gain higher returns as you diversify your investment
- Structure your retirement plan to give you the lifestyle you always wanted
- Increase the return on your money without taking large risks in your trading
- Use your trading as a more powerful shelter for your SMSF
- Purchase real estate in your SMSF both here and overseas
- Create more passive forms of income that you can pass on to your heirs and provide them with the lifestyle they deserve
- Get higher returns on your investment and use yourself as a bank
- Increase your income using the assets you already own
- Pay off your mortgage early and enjoy watching your children grow up
If you want more information regarding the content and presenters please click here. Opens as a PDF.
I definitely think these seminars will be valuable for all property investors and there will be NO hard selling.
Any questions please feel free to contact me.
Grow SMSF | Grow SMSF
https://growsmsf.com.au
Email Me | Phone MeSelf-Managed Super Fund (SMSF) Specialist Accountants
There was a big rush and great deal of excitement when SMSF were allowed to borrow.
Now, once it has been examined a bit further the benefits are not as great. It seems now to be pushed by property developers looking for new sources of buyers/finance.
There is some really dodgy stuff out there.
Cheers
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