All Topics / Help Needed! / Self Mananged super funding investments

Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of KazbrownKazbrown
    Member
    @kazbrown
    Join Date: 2012
    Post Count: 1

    HI is anyone out there using there super to fund there investment property, do you have any advice on this there seems to be higher fees with the banks for Legal reasons, Any info would be appreciated.

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    The high fee you are referring to is partially due to the fact they have to read through trust deeds of your super fund to ensure it will not be breaching any SMSF laws.  Lawyers are not cheap.

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    JacM wrote:
      Lawyers are not cheap.

      smiley

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856
    JacM wrote:
    Lawyers are not cheap.

    But they are easy ;)

    Profile photo of kong71286kong71286
    Participant
    @kong71286
    Join Date: 2009
    Post Count: 261

    With all Terry's credentials I wonder how much he charges cheeky

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    My fees are pretty reasonable I think. I tend not to charge hourly rates for the legal work and do fixed price agreements. For the mortgage broking side I generally don't charge, for the tax side I work with accountants who charge fixed fees for returns.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Kaz

    Sorry i have to disagree.

    I do a fair number of SMSF loans and you would be surprised as to the difference in costs / interest rates between lenders.

    The big 4 (Anz does not write residential SMSF loans) are out of touch when it comes to their charges and costs hoowever away from these lenders the competition is good.

    Remember many lenders charge on the basis that they consider the loan to be a Commercial transaction.

    Get your Mortgage Broker to shop around and i think you will be see the difference.

    As for the comments on lawyers fees i never have a problem in paying a sensibleprice for good advice.

    I know what we charge a client for doing a development finance deal or putting an investor into a Vendor Finance deal and i bet it is lot more than Terry charges for legal advice.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

Viewing 7 posts - 1 through 7 (of 7 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.