PropertyInvesting.com | MikeF | Activity https://www.propertyinvesting.com/members/mikef/activity/ Activity feed for MikeF. Fri, 17 Apr 2026 08:31:38 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 e5f0478cb7aae55942e956c602cda488 MikeF replied to the topic will bank lend to a newly set up trust in the forum Help Needed! https://www.propertyinvesting.com/topic/4407548-will-bank-lend-to-a-newly-set-up-trust/#post-4676946 Wed, 05 Sep 2012 22:38:23 +0000 Hi

Most lenders will not have a problem lending to a newly established trust as they will require you (and other adult beneficiaries) to guarantee/indemnify the borrowing.

With your property as collateral you should no problems.

Mike

]]> 68fb5a7e445d44f429a5a6ff715b46b5 MikeF replied to the topic First investment property in the forum Help Needed! https://www.propertyinvesting.com/topic/4406900-first-investment-property-12/#post-4672160 Wed, 20 Jun 2012 22:25:15 +0000 Julie Ron wrote:
Hi, we are about to sign a contract to purchase our first investment property through our SMSF. It's a one bedroom 58 square metres off the plan in Carlton Melbourne, for completion in 18 months. We still need to set up a bare trust to borrow 80% ..a bit scared… hope we are doing the right thing?!  Any advice welcomed.…[Read more]

]]> 9c0fedb805bbf89a515af44748de9497 MikeF replied to the topic buy property overseas with SMSF in the forum Help Needed! https://www.propertyinvesting.com/topic/4406481-buy-property-overseas-with-smsf/#post-4668861 Fri, 08 Jun 2012 10:11:46 +0000 TZ wrote:
“An Australian Citigroup subsidiary, Citibank, has now started to facilitate loan transactions for Australians looking to purchase US property.” http://www.abc.net.au/pm/content/2012/s3480532.htm. This appears to be a new initiative. Perhaps contact Citigroup to see if they are planning to expand their services in the near future to…[Read more]

]]> 3dcad2928b0ea260f6014c0472bcfbe7 MikeF replied to the topic Which account do I pay down? in the forum Finance https://www.propertyinvesting.com/topic/4406714-which-account-do-i-pay-down/#post-4670906 Tue, 29 May 2012 22:54:32 +0000 Put it in the facility with the highest interest rate. This will generally mean the LOC.

]]> f486784f9c11bf3209a71343760219c9 MikeF replied to the topic buy property overseas with SMSF in the forum Help Needed! https://www.propertyinvesting.com/topic/4406481-buy-property-overseas-with-smsf/#post-4668855 Wed, 02 May 2012 05:52:43 +0000 Hi

As long as you ensure that all Limited Recourse Borrowing Arrangement requirements are met and your investment strategy covering such an investment I can’t see why not.

Only real issue will be whether an overseas lender will understand the structure and legislative requirements including the Limited Recourse nature that the loan documentation…[Read more]

]]> d40e92ec4f4895cc622b2b52d8712bb1 MikeF replied to the topic buy property overseas with SMSF in the forum Help Needed! https://www.propertyinvesting.com/topic/4406481-buy-property-overseas-with-smsf/#post-4668853 Wed, 02 May 2012 05:17:49 +0000 HiSorry to say but no lender here will touch it.

]]> 4ed61e402286a660aec262128db0c903 MikeF replied to the topic buy property overseas with SMSF in the forum Help Needed! https://www.propertyinvesting.com/topic/4406481-buy-property-overseas-with-smsf/#post-4668850 Wed, 02 May 2012 03:16:38 +0000 cosmicstar wrote:
Hi,My first post here and am not sure if the post should be here or not. So please pardon me if its at wrong place.I have $60000 in my super right now and I wish yo buy a residential property overseas. The cost of the property is approx $150k and I want to start a SMSF and maybe get a loan for the remaining amount.Can someone…[Read more]

]]> 6de2524c5099c09c7032a75f7d5796dc MikeF replied to the topic SMSF Commercial Borrowing in the forum Finance https://www.propertyinvesting.com/topic/4406351-smsf-commercial-borrowing/#post-4667766 Tue, 17 Apr 2012 10:59:02 +0000 Hi

CBA are not likely to do the deal as they have a minimum SMSF equity requirement of $250K-$300K. Also, as Richards says CBA fees & costs will be a killer.

Last time I read their info memorandum you also had to have the property professionally managed and use their security custodian. Both of these come with their own additional costs and in…[Read more]

]]> 65ba534c8e781ce98680c4c2ae9006ca MikeF replied to the topic SMSF Structure in the forum Finance https://www.propertyinvesting.com/topic/4405909-smsf-structure/#post-4664090 Sun, 26 Feb 2012 22:42:38 +0000 Anthony K wrote:
Hi Paullie & Mike. It's not wise to exchange contracts until the SMSF has a Letter of Offer for the loan.Anthony K

Totally agree…….wasn't suggesting anything else. SMSF lenders are generally very slow to process/approve and as such I always recommend to my clients to obatin an approval before signing anything.

]]> eaaee756dba44d84cc11d1444af7cbef MikeF replied to the topic SMSF Structure in the forum Finance https://www.propertyinvesting.com/topic/4405909-smsf-structure/#post-4664088 Sun, 26 Feb 2012 21:51:10 +0000 Paullie wrote:
From the above information any offers need to be from PAULLIE CUSTODIAN Pty Ltd. This is correct yes?

Yes, correct

]]> 24c95598bcb33042715c8a49195297b9 MikeF replied to the topic Using my Super or owned land? in the forum Hi Richard So they will lend https://www.propertyinvesting.com/topic/4405488-using-my-super-or-owned-land/#post-4661117 Thu, 29 Dec 2011 08:07:54 +0000 Hi RichardSo they will lend $A against NZ security….as you say you learn something new every day of the week.Cheers

]]> cfcb15af9ed1331cdcc196b9fdf23494 MikeF replied to the topic Using my Super or owned land? in the forum Help Needed! https://www.propertyinvesting.com/topic/4405488-using-my-super-or-owned-land/#post-4661115 Thu, 29 Dec 2011 07:55:19 +0000 tjtert wrote:
Hi, I'm really a first time first timer, can anyone advise me if at all, is it possible to use one's Superannuation as a deposit for purchasing a property? And also, I do own some land in New Zealand and can I use that as a means to apply for a loan here in Australia? Please help.

Simple answers are: Yes on the first point as…[Read more]

]]> c55cda869629ca371a4ade0bac059224 MikeF replied to the topic SMSF, Commerical Property, Own Business, Long-Term Growth in the forum Help Needed! https://www.propertyinvesting.com/topic/4405452-smsf-commerical-property-own-business-long-term-growth/#post-4660715 Thu, 22 Dec 2011 01:01:22 +0000 Terryw wrote:
MikeSomething happened to your post – it appears to be nothing but a quote of the opening post.

]]> f8478437a748076c5ef996b1476bf1cc MikeF replied to the topic SMSF, Commerical Property, Own Business, Long-Term Growth in the forum Help Needed! https://www.propertyinvesting.com/topic/4405452-smsf-commerical-property-own-business-long-term-growth/#post-4660713 Wed, 21 Dec 2011 22:40:59 +0000 TicTok wrote:
My first post and I think this is the right forum but it could fit in a couple.I'm hoping there may be a few knowledgeable people here who can give me some pointers in the right direction and some advice.My wife and I are close to 40 yrs of age (me on the wrong side and her on the right side).We have only been in Australia about 8…[Read more]

]]> 46fa26a31bc1ddf8a31f9498b237b355 MikeF replied to the topic Who are you using for your SMSF Insurance? in the forum Help Needed! https://www.propertyinvesting.com/topic/4405229-who-are-you-using-for-your-smsf-insurance/#post-4659097 Wed, 23 Nov 2011 21:39:16 +0000 HiI use MLC which was competitive at the time when the policy was taken out.

]]> 86725ec8ee7b63f6c801ea33850ee613 MikeF replied to the topic Transfer assets from trust to SMSF in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4405197-transfer-assets-from-trust-to-smsf/#post-4658914 Thu, 17 Nov 2011 09:56:37 +0000 Terryw wrote:
But the fin planner is suggesting he contribute $450,000 in one year by bring forward 3 years of $150,000. However my mate is over 65 so I beleive the bring forward part is not available and he will be limited to $150,000 pa while still working and under 75. Excess constributions  can have serious consequences. excess can be taxed…[Read more]

]]> d3a20f78c8e46ceabb66f7bce446577f MikeF replied to the topic Becoming a mortgage broker in the forum Finance https://www.propertyinvesting.com/topic/4391536-becoming-a-mortgage-broker/page/4/#post-4577905 Wed, 16 Nov 2011 21:10:13 +0000 dw8998 wrote:
Thanks terry, just sent you a PM as well.So after doing a bit more reading, steps include:1) Getting a certificate IV in financial services which costs around $5002) Obtain a credit licence3) Find an aggregatorAm I missing anything from this list? Also how long should this entire process take?Is it necessary to become MFAA approved…[Read more]

]]> a428b768d015e88c38796b8dc8ff90e6 MikeF replied to the topic Property Owned By my SMSF in the forum Help Needed! https://www.propertyinvesting.com/topic/4405093-property-owned-by-my-smsf/#post-4658284 Wed, 02 Nov 2011 11:41:30 +0000 hansella wrote:
Does anybody know if a SMSF fund can buy US property ?

Sure, so long as your investment strategy covers it and the correct legal structure is established.However the risks are many and this strategy is not for the in-experienced.

]]> 77d51382d6d90b86e75c43d1bdf5ceaf MikeF replied to the topic Property Owned By my SMSF in the forum Help Needed! https://www.propertyinvesting.com/topic/4405093-property-owned-by-my-smsf/#post-4658282 Wed, 02 Nov 2011 09:47:09 +0000 Steve65 wrote:
I am looking to buy my first property with my SMSF.  Assuming the property is paid off in 10 years,will I then be able to subdivide the land ? If not, what flexibility do I have, could I sell it to myself ?Thanks Steve

I'm no expert on the SIS Act but if all debt had been repaid and the property transfered from the security…[Read more]

]]> 81aa4869aeea8f0fc8146ad79eccf2bb MikeF replied to the topic Trust structure vs Company in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4404928-trust-structure-vs-company/#post-4657148 Wed, 19 Oct 2011 10:41:33 +0000 tjunction wrote:
With settlement due at the end of this week, the lender has just told me that they now also require the loan to be within a discretionary trust with a company as trustee.I'm trying to determine if this is a deal breaker for a couple of mum/dad investors with one other IP. 

HiWhy the lender would try to give you this advise is…[Read more]

]]> dd2947f528b5693a8546f8dc31881f7d MikeF replied to the topic SMSF investment loan in the forum Legal & Accounting https://www.propertyinvesting.com/topic/smsf-investment-loan/#post-4656464 Thu, 29 Sep 2011 03:18:13 +0000 wisepearl wrote:
So sounds like my possible scenario with the loan is not really acceptable under current SMSF guidelines. Back to the drawing board ;)

CorrectBy the way you can't mortgage a part of a property only a whole property.

]]> 9a02ad6fa2a79e92115ccc7e24e04a3a MikeF replied to the topic SMSF investment loan in the forum Legal & Accounting https://www.propertyinvesting.com/topic/smsf-investment-loan/#post-4656462 Thu, 29 Sep 2011 02:48:23 +0000 wisepearl wrote:
Can a SMSF name go straight onto the tite? I recall reading something about SMSF investing in property through options or trusts or something more complex…Are you suggesting that rather than a straight out "cash" loan direct to me for use on the property, the SMSF could say go on the title as 20% owner and therefore allow…[Read more]

]]> 387461476940814eb91c6bb3524386ce MikeF replied to the topic SMSF investment loan in the forum Legal & Accounting https://www.propertyinvesting.com/topic/smsf-investment-loan/#post-4656457 Wed, 28 Sep 2011 23:46:33 +0000 HiAs previous poster says……generally SMSF fund trustees cannot lend to or invest in a related party or related trust of the fund however they can in certain circumstances such as where the loan/investment is no greater than 5% of the market value of the fund's total assets.

]]> 9ae5dfc05eed405713075e884cccda7a MikeF replied to the topic Commercial Interest rate? in the forum Finance https://www.propertyinvesting.com/topic/4404825-commercial-interest-rate/#post-4656531 Wed, 28 Sep 2011 04:00:26 +0000 hiAs others have said……it depends on a lot of things but overall financial risk assessment of the borrower by lenders is the main thing that drives end rate.As an example, doing one now for extremely wealthy professional. Loan is stand alone $1.26M at 70% LVR for Sydney CBD strata commercial office suite. Variable rate to the borrower is…[Read more]

]]> 9d5362b5297c793d226d7e140b4cddad MikeF replied to the topic Question for Mortgage/Finance Brokers in the forum Finance https://www.propertyinvesting.com/topic/4404485-question-for-mortgagefinance-brokers/#post-4654105 Sun, 28 Aug 2011 22:11:35 +0000 robwilson wrote:
Hi Guys,What about the payday loan industry any of you guys had experience in this field ?CheersRob

 The Payday loan sector is finally getting some well needed attention.http://www.smh.com.au/national/screws-turned-on-loan-sharks-20110827-1jfb7.html

]]> 17cd621dc5732acb4f80ae9aee1f0745 MikeF replied to the topic Pre 2009 - SMSF and Unit Trust in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4404514-pre-2009-smsf-and-unit-trust/#post-4654300 Tue, 23 Aug 2011 07:49:38 +0000 HiWhats the security for the loan? Is it resi or commercial?

]]> 6373ae961e120742c4bb9db324f62820 MikeF replied to the topic Trusts & SMSF in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4403277-trusts-smsf/#post-4645377 Tue, 05 Apr 2011 10:15:23 +0000 So you think that the ATO can't see past that……..hmmm

]]> ec48fb6fded794d82241a1f61193a2d1 MikeF replied to the topic Loan in one name, title in both names (spouses) in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4402245-loan-in-one-name-title-in-both-names-spouses/#post-4638508 Mon, 20 Dec 2010 20:33:43 +0000 HiMy understanding is that the title deed determines the percentage of claimable deductions. ATO ID 2002/363 & TR 93/23 states; "that the loss or income from a rental property must be shared according to the legal interest of the owners, except in those very limited circumstances where there is sufficient evidence to establish that the equitable…[Read more]

]]> 4d5630babd9fcbeae268ae1bcc8acc84 MikeF replied to the topic $100k in Super - Is it "Doable" to purchase a property with SMSF?? in the forum Creative Investing https://www.propertyinvesting.com/topic/4402008-100k-in-super-is-it-doable-to-purchase-a-property-with-smsf/#post-4637018 Tue, 14 Dec 2010 20:52:57 +0000 euro73 wrote:
Thats good information Mike- thanks.Seems as though The Rock has a pretty competitive product. In the scheme of things, $300 or so in set up costs is pretty inconsequential, if they have superior borrowing capacity. Correct me if Im wrong, but I believe St G is priced at 7.80% and The Rock is at 7.89%?  Not much in that,…[Read more]

]]> 14db63175bee9e35a6109598e8b78a13 MikeF replied to the topic $100k in Super - Is it "Doable" to purchase a property with SMSF?? in the forum Creative Investing https://www.propertyinvesting.com/topic/4402008-100k-in-super-is-it-doable-to-purchase-a-property-with-smsf/#post-4637016 Tue, 14 Dec 2010 03:31:59 +0000 Sorry ……….I stand corrected on The Rocks LVR its now 70%

]]> c35bf8625e11a0a1ebe54cfcabcb5d47 MikeF replied to the topic $100k in Super - Is it "Doable" to purchase a property with SMSF?? in the forum Creative Investing https://www.propertyinvesting.com/topic/4402008-100k-in-super-is-it-doable-to-purchase-a-property-with-smsf/#post-4637015 Tue, 14 Dec 2010 03:20:53 +0000 euro73 wrote:
OK. My understanding was that the Rock has 70% LVR, no Personal Guarantee and more generous borrowing capacity than both St G and NAB…. and an app fee of $600. That would seem to make it a very good product in a side by side comparison. Is that not the case?

The Rock servicing seems to be more generous (80% of all rental income…[Read more]

]]> e360c816fe396d2b4693e9863abad204 MikeF replied to the topic Vendor Finance and Stamp Duty in the forum Creative Investing https://www.propertyinvesting.com/topic/4402173-vendor-finance-and-stamp-duty/#post-4638059 Mon, 13 Dec 2010 07:03:39 +0000 You will need to be careful with 2nd mortgage/caveat vendor finance behind a bank because the bank (1st mortgagee) will most likely have clauses in their mortgage documentation  stating something along the lines of:1/ that they must consent to any subsequent mortgage &2/ that you cannot create another security without their consent and if you do y…[Read more]

]]> 4eba3341a470e85b3d6d21694b4c00e9 MikeF replied to the topic $100k in Super - Is it "Doable" to purchase a property with SMSF?? in the forum Creative Investing https://www.propertyinvesting.com/topic/4402008-100k-in-super-is-it-doable-to-purchase-a-property-with-smsf/#post-4637013 Sun, 12 Dec 2010 20:32:52 +0000 euro73 wrote:
So the Rock and St George are amongst the better SMSF loan products then?

If LVR is not an issue my preference would be St George or NAB

]]> ae6f9c5bb6533d00e4fcad22cddd4c9c MikeF replied to the topic $100k in Super - Is it "Doable" to purchase a property with SMSF?? in the forum Creative Investing https://www.propertyinvesting.com/topic/4402008-100k-in-super-is-it-doable-to-purchase-a-property-with-smsf/#post-4637011 Thu, 09 Dec 2010 01:02:34 +0000 euro73 wrote:
Richard/Mike.Pro's/cons of those three lenders products, versus the Rock and St George?

Too many to list here in detail and depends on your individual situation but here are a few;

Minimum net SMSF Asset Position – CBA require minimum $300,000
Variable Interest rates – vary 7.67% to 8.59%
Monthly/ongoing fees – from $8pm to…[Read more]

]]> 36cec87e6ec2a07abe0513c43cec21b3 MikeF replied to the topic What are your thoughts - FHOG strategy? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4402070-what-are-your-thoughts-fhog-strategy/#post-4637373 Wed, 08 Dec 2010 01:42:34 +0000 In NSW so long as you live in the property as your  PPOR continuously for 6 months commencing within the first 12 months following settlement you are entitled to both the FHOG and the stamp duty exemption if applicable. 

]]> 44a4a34e676976df97707f356b5eb9e2 MikeF replied to the topic $100k in Super - Is it "Doable" to purchase a property with SMSF?? in the forum Creative Investing https://www.propertyinvesting.com/topic/4402008-100k-in-super-is-it-doable-to-purchase-a-property-with-smsf/#post-4637008 Wed, 08 Dec 2010 01:11:29 +0000 Westpac & CBA being the others

]]> 6424ee01f225bee9f13c6232639bab43 MikeF replied to the topic $100k in Super - Is it "Doable" to purchase a property with SMSF?? in the forum Creative Investing https://www.propertyinvesting.com/topic/4402008-100k-in-super-is-it-doable-to-purchase-a-property-with-smsf/#post-4637005 Tue, 07 Dec 2010 21:22:20 +0000 maree_bradross wrote:
god_of_money I checked out their website it has the following on SMSF:Borrow up to 90% when guaranteed by yourself and the trustee, and secured against the propertyBorrow up to 65% when guaranteed by the trustee and secured against the property

You need to be either a doctor/dentist or accountant as Experien only provide…[Read more]

]]> bb31813c0486a596f5a8549f60d7d601 MikeF replied to the topic What are your thoughts - FHOG strategy? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4402070-what-are-your-thoughts-fhog-strategy/#post-4637371 Tue, 07 Dec 2010 21:08:10 +0000 zaclan wrote:
Great thanks for the info. I've found a property I'm interested in but the property will be leased until Mar 2011. I would plan to move in straight afterwards to avoid any hassles.. While the tenant is still there can I claim any deductions as an investment property or best not to claim anything? Cheers

HiWhat state are you…[Read more]

]]> 4920cc5f5dd78663bdf6a8df3089bb24 MikeF replied to the topic Need to engage legal to prepare Bare Trust for property inside SMSF in the forum Help Needed! https://www.propertyinvesting.com/topic/4401898-need-to-engage-legal-to-prepare-bare-trust-for-property-inside-smsf/#post-4636227 Tue, 16 Nov 2010 22:25:26 +0000 TimPlease give me a call 02 9263-2631Mike

]]> 32d5c5932cf4896cb00ca1e2e260c64d MikeF replied to the topic Need to engage legal to prepare Bare Trust for property inside SMSF in the forum Help Needed! https://www.propertyinvesting.com/topic/4401898-need-to-engage-legal-to-prepare-bare-trust-for-property-inside-smsf/#post-4636225 Tue, 16 Nov 2010 20:48:45 +0000 Ash7261 wrote:
Hey guys what is the tax advantages with IP in SMSF? is it the same as personal as in write off visits to the property for inspections?

Does the income from the property count towards my contributions as i am currently at limit?

Regards

Ash

hi Ash

In simple terms contributions are taxed at 15% and the capital gains tax…[Read more]

]]> c27082eb4b6494240ac8719758271124 MikeF replied to the topic Need to engage legal to prepare Bare Trust for property inside SMSF in the forum Tim Your structure seems to https://www.propertyinvesting.com/topic/4401898-need-to-engage-legal-to-prepare-bare-trust-for-property-inside-smsf/#post-4636223 Tue, 16 Nov 2010 12:44:37 +0000 Tim

Your structure seems to be standard “instalment warrant” structure so all should be OK. Only warning is that although you have already been through NAB’s legal vetting process in the past it in no way means that you will get the same successful result again even using the same documentation as you have in the past.

As an example I know of…[Read more]

]]> b7e1ae9cd28db64790aac56f598ec48b MikeF replied to the topic Need to engage legal to prepare Bare Trust for property inside SMSF in the forum Help Needed! https://www.propertyinvesting.com/topic/4401898-need-to-engage-legal-to-prepare-bare-trust-for-property-inside-smsf/#post-4636219 Tue, 16 Nov 2010 07:06:20 +0000 TimYou mention "outside SMSF" do you mean inside?If your doing the same funding structure and same lender as your past SMSF purchase why not just copy what you have already paid for using the same bare trustee company/entity but changing items such as address/loan amount etc.

]]> b10439853f1b81e5046152df19df4f61 MikeF replied to the topic Probate, title transfer of property due to death questions in the forum Help Needed! https://www.propertyinvesting.com/topic/4401806-probate-title-transfer-of-property-due-to-death-questions/#post-4635688 Mon, 08 Nov 2010 09:27:39 +0000 In NSW obtaining probate does not require a valuation of the assets for most simple estates and is done using an "estimated or known" value. Outside of the beneficiaries interests, the gross value of the overall assets within the estate is used by the government to calculate the lodgement fees payable.The following is straight off the NSW Supreme…[Read more]

]]> 2f4a2b6aa927b37952a01f38ab95fee5 MikeF replied to the topic Improve a property in an SMSF - Compliance Issue in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4401619-improve-a-property-in-an-smsf-compliance-issue/#post-4634730 Mon, 25 Oct 2010 21:25:31 +0000 Hi Grateful

My understanding on the issue is;

1/ You can use borrowings to repair and/or maintain the property but not improve or develop it. Borrowed money can also be used to pay expenses incurred in connection with purchasing the property and obtaining the loan such as establishment costs and stamp duty.

2/ The fund can use its own funds to…[Read more]

]]> 187c8285c99ddd10b5a2b6edb90fd8a7 MikeF replied to the topic Security Custodian Trust by St George Bank in the forum Finance https://www.propertyinvesting.com/topic/4400734-security-custodian-trust-by-st-george-bank/#post-4629150 Wed, 04 Aug 2010 21:52:34 +0000 Mav wrote:
Thanks Mike and number8, what is internal lending?

As Birchcorp says internal lending may be easier for some people and is done when the members become their own banker and lends the SMSF the required funds.SMSF Members loans are loans provided by members (or sometimes related parties) using their own funds or funds borrowed agai…[Read more]

]]> 9ed8c5ddfe1458a457fb402875583b86 MikeF replied to the topic Security Custodian Trust by St George Bank in the forum Finance https://www.propertyinvesting.com/topic/4400734-security-custodian-trust-by-st-george-bank/#post-4629147 Tue, 03 Aug 2010 06:21:08 +0000 Servicability is generally based upon a percentage (70%-80%) of the rental and SMSF contributions as well as other SMSF investment income if the fund is an existing fund and has other income generating assets. In some cases (and dependent upon the lender) they may also look at the members own personal financial position however this is to see that…[Read more]

]]> 4a74fbf4b9a0d86f75d3390c7a0356d7 MikeF replied to the topic Changing from Individual trustee to corp trustee for SMSF Holding trust in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4400724-changing-from-individual-trustee-to-corp-trustee-for-smsf-holding-trust/#post-4629084 Sun, 01 Aug 2010 23:14:23 +0000 If you are planning on using an instalment warrent borrowing structure you need to exchange contracts in the name of the security custodian not in the name of the trustee as trustee of your SMSF.  A few things about the security custodian;1/ it has to be a new company2/ it has to be in existence (registered with ASIC) prior to entering into the c…[Read more]

]]> b72f22cd07e7771d73a3e5ea35a21ae9 MikeF replied to the topic SMSF Finance in Melb in the forum Finance https://www.propertyinvesting.com/topic/4398600-smsf-finance-in-melb/#post-4616126 Thu, 11 Feb 2010 10:33:06 +0000 Qlds007 wrote:
WWFEvery deal i have done with NAB here in Brissie they have asked for PG's.

Hi Richard – same here in Sydney PG’s always required. Another negative with NAB is that no mater how many times you provide the same Bare Trust documentation they still want to amend/change. Why…..because they can.

In fact one document provider now…[Read more]

]]> deae2add1eae070db4ca7435e000bb40 MikeF replied to the topic SMSF Finance in Melb in the forum Finance https://www.propertyinvesting.com/topic/4398600-smsf-finance-in-melb/#post-4616119 Wed, 03 Feb 2010 04:09:00 +0000 cjgs276 wrote:
Hi, can anyone recommend a SMSF lender in Melb that don't require a Pers Guarantee.Looking to buy prop via SMSF in Inverloch asap.email at ccdes20@yahoo.com.au if need be

The only lender not doing personal gtees that i know of will not do smsf for postcode 3996. Someone mentioned that Bendigo Bank may now be doing them without P…[Read more]

]]> f4963103a1574b81136005c1d936a410 MikeF replied to the topic Loan for house and land package within a Super Fund in the forum Finance https://www.propertyinvesting.com/topic/4398294-loan-for-house-and-land-package-within-a-super-fund/#post-4614330 Thu, 14 Jan 2010 20:57:48 +0000 Hi NatashaLike Richard has said, there are no SMSF lenders that will do construction. Depending on how much cash your & your fund have one possible way is to fund the contruction yourself using available cash and have the SMSF borrow for the land.Another problem you may face is now that you have signed a contract. What name did you purchase it…[Read more]

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