I agree i prefer to buy ppositvelty geared property from Day 1.

If the property isnt positvely geared then there are a few strategies to increase the return.

Everyone to their own but i prefered to use my positive cash flow to pay down my loans secured against my buy and holds.

Cheers

Yours in Finance

No Charlie you wont finance a property in Northern Ireland from a UK lending institutions in a SMSF or otherwise.

As discussed previously there is only 1 lender in the UK who will finance property to non residents and they are purely location based. :London and the SE only.

There are a couple of ways to finance an overseas deal inside a SMSF but…[Read more]

John i hear finance markets are opening up a little in Florida.

We have been helping UK clients buy in Florida for years but i understand that Australians can now qualify for finance on soome of these smaller apartment blocks.

Cheers

Yours in Finance

nardz an interest only loan with 100% offset account will certainly improve the cash flow position of the particular property and could make the property neutral or positively geared but remember it will only be a short term aide.

A dog of a property will be a dog of a property irrespective of what the cash flow position is like.

Yes we always…[Read more]

E Wolfe firstly welcome to the forum and i hope you enjoy your time with.

There are many ways to start your portfolio and JacM has certainly mentioned one way.

If you want a copy of my API interview on how i built my portfolio please let me know.

Believe it or not there are still lenders that will lend over 100% depending on the purchase price…[Read more]

Yes sounds like a typical answer from a sausage machine broker.

Surprised they didn't also ask would you like fries with that on the way out.

Cheers

Yours in Finance

Thanks guys and in fact thanks to everyone who came along and made me as a Qlder very welcome on the night.

Look forward to the next one when we can open up other topics of conversation.

Cheers

Yours in Finance

Enjoy yourself down there Johann

Was looking forward to seeing you in Melbourne when i was down there last week doing a investor presentation.
Maybe at the next one when your back.

Cheers

Yours in Finance

Wow I wouldn't rely on an Excel spreadsheet to work out serviceability for any lender let alone the big 4.

As Michael mentioned with all 4 using some form of credit scoring serviceability is the least of your concerns.

Cheers

Yours in Finance

There are a couple of other costs that Jac M has included and these include:

1) 2 x Audit fees
2) 2 x Bank Audit fees for confirming the interest statement etc
3) The Accounting fees will be a little higher than $660.

We put out clients thru a couple of companies and you can add an extra $1000 to that figure minimum.

See can't see why anyone…[Read more]

DCT oh trust me i have done my fair share in Brisbane

I did the old Nundah Bowls Club 53 unit development.

1.15M – $3,25 in 18 months. Paid for the Annual holiday that year.

Cheers

Yours in Finance

Y your total deductible contributions being both employer and employee are limited to $25,000 per member per year so depending on your incomes going to be fairly limited.

Non deductible contributions are limited $150,000 per Tax year or $450,000 over a 3 year period so again fairly limited.

Regretfully you cannot buy the property in a Unit Trust…[Read more]

Hate to say Y not quite as easy as that.

If with a Related Party loan you need to lend to hold the Asset in the Bare Trust and the loan needs to be documented.

The only reason why the Bank would be difficult is if serviceability was not evident or the security was unacceptable and
a both matters would need to be considered in RP…[Read more]

Sorry Y Stress

Why oh why would you set up 2 SMSF's with the set up costs, Annual compliance & Audit costs involved.

Sorry but as a SMSF specialist i simply cannot agree with the advice you have offered.

Land Tax is a small expense when it comes to the overall running of an longer term investment.

Jac's idea of spreading your investment over a…[Read more]

No Stamp Duty on a Option Contract in Qld which i nice but of course SD on the Transfer to your name.

Nice deal if you can pick those up all day long.

Cheers

Yours in Finance

Have to disagree about a 1 stop shop in Brisbane for everything Tax wise.

Steve Hodgkinson from the Gold Group who is a contributor to the site is an expert on SMSF and covers every area of the business from structure set, up Tax returns and SMSF Audit.

He has been my accountant for 15 years and we finance 101 of his SMSF clients.

Remember not…[Read more]

Obviously need to factor in the set up costs for the SMSF Finance into your numbers but other than that ii can't see an issue as long as you are not seen to be running a business.

Remember concessional CGT is only 10% inside a SMSF where the Asset is held for > 365 days.

Also CGT calculated on Contract date and not Settlement…[Read more]

I have a UK assets in my SMSF and no issues but just need to make sure as Terry mentioned your Tax affairs can be catered for.

Also make sure that a sole investment in a property asset is in line with the investment objectives of the Trust Deed.

Starting to see some issues with some of SMSF Audits we have been involved in with…[Read more]

Claire

Ok if you have the Trust set up with a Personal Trustee you won't get an 80% lvr with any lender so if you are looking to maximise your gearing going to need to change it to a Corporate Trustee.

In relation to your comment about renovation / repair a SMSF may use borrowed funds to maintain or repair an asset but cannot improve the asset…[Read more]

Da One i would also second Terry for his expertise in this area.

I flew down to Melbourne last week to see some SMSF clients so if you want top advice i would make an appointment with Terry and jump on a plane and go and see him.

Cheers

Yours in Finance