Hi
Im currently in the process of setting up a SMSF.
I would like to use a buyers agent to source a property for me as im thinking an
interstate purchase in Queensland, close proximity to city CBD locations, such as Brisbane.
Or any other location in Australia that is going to have good capital growth with a good yield.
Does anyone highly recommend an accredited buyers agent they have used before located in Sydney.Cheers
Hey Sam,
Give Richard Taylor or JacM a call.. They specialized in the QLD area if Im not mistaken. Search them up here.
Or knightm from precium.com.au for NSW.Richard Taylor
JacM
knightmCheers!
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There is also Propertunity in Sydney
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Sam –
Trust all is well.
Before you engage a property agent – you need to consider your strategy and determine whether property is right for you (after understanding the risks and benefits of an SMSF).
Investing interstate is risky – I have seen some success stories and many and I mean many horror stories.
I guess I would like to say – before you invest interstate – take a deep breath – do some due diligence on the relevant markets (including your local market) to determine what is right for you. This can take one day – one month or even a year, but this is your retirement.
Personally – with many Melbourne clients investing in QLD – I have seen many properties comes in less than purchase price, with the SMSF covering the difference, this was due to a couple of errors:
1. Trusting the wrong person
2. lack of due diligence/ independent opinion.You will need to also consider how you will pay for buyer agent and the tax treatment and ensure they are qualified. In order to ‘recommend’ a property in an SMSF – the person/ organisation must be licensed – that is they must be a authorised rep of an AFSL Holder or an AFSL Holder – if not, they are breaking the law – refer to Park Trent.
Let us know how you go and all the best.
Cheers, Ivan
Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
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HI Sam
I would definitely like to back Ivans comments its no good buying a bad property in your smsf either the returns have to be great or it must have great capital growth. The market is at the high point
I could not recommend Ivan more not only does he contribute here but he really knows his stuff. When it comes to setting up or managing your SMSF you will not do better than Ivan.
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This reply was modified 9 years, 5 months ago by
Nigel Kibel.
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Or any other location in Australia that is going to have good capital growth with a good yield.
This is what we all want obviously. Can you specify what you would consider to be a good yield? And what your timeframe is for growth targets. There are lots of markets that all differ and the ripple effect from Sydney is moving out, but also the SEQ and other markets are all worth thinking about but you need to be sure you are getting a fair deal in a good area or you will not benefit from the investment.
BuyersAgent | Precium
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Email Me | Phone MeSouth Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
Thanks everyone for the info.
It is a bit daunting taking the future of my superannuation into my own hands. But im confident that I can succeed.
I forgot to mention that im only 29 yrs old & have only around 140k in my current super fund.
People have said to me & im sure many of you will think im crazy for doing this at this age with only this much.
I currently have 4 investment properties, worth approx. 2.2mil, all neutral geared at the moment.
My strategy for my current & future portfolio is to buy & hold.To accumulate as many investment properties over the next 10-15 yrs and have a positive cashflow to see me into retirement.
The only reason I will engage a buyers agent is because im not confident in purchasing in an area im not familiar with e.g Queensland. I would expect a buyers agent to source a property with a yield of at least 6%. I understand this is very hard to get In this current climate, especially in Sydney & south of Sydney.Sam – well done on your achievements to date – the majority of SMSFs set up are by members aged 25-45, SMSF members are getting younger and smarter – its never to early to take control, perhaps you could have taken control earlier and accumulated more than $140k….
Re 6% yield thats a struggle mate.
Cheers Ivan
Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
http://redwoodadvisory.com.au
Email Me | Phone MeSMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS
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This reply was modified 9 years, 5 months ago by
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