DamianYou need to hold the appropriate license required in the State where you intend to operate.

NevFeel free to drop me an email and I can come back to you.

Whoever has told you that you can do a JV with your SMSF is pulling the wool over your eyes as it breaches numerous Sections of the SISA legislation.These structures are outlawed and those that were approved previously have until June 2009 to recall them or face the financial consequences.If you are asking whether your SMSF can borrow in it is own…[Read more]

NevI have done literally dozens of these sorts of deals myself personally in Brissie so let me now if you have any questions.Very few Solicitors have any idea as soon as you mention the word Wrap.

The fees you pay on a Strata Title unit comprise of the administration and sinking fund and the amount of each is shown in the Disclosure Statement prepared by the Body Corporate Manager. The admin fund looks after the day to day running of the block including things like insurance, grass and garden maintainance, postage, BCM fees etc etc.The…[Read more]

I fully retired at 39 but after 8 months of travelling, watching kids sportfing activities etc went back to work running my own financial planning company with a view to helping others reach what i had achieved.You can retire any time but cannot draw out your SMSF until aged 55.In the meantime you have to live of your personal asset income such as…[Read more]

KYLIrrespective of whether you claim the interest or not you cannot draw down funds from personal equity or cash and buy a property in your SMSF name.As i mentioned you are legally allowed to borrow in your SMSF as long as the type of security is an acceptable class. Not vacant land.

Just to clarify AGAIN.You can purchase property within your SMSF however cannot borrow against personal assets to fund the acquisition.A SMSF CAN borrow through an Instalment Warrant or Bear Trust structure to buy property so it does not have to be unencumbered.

KWBefore you jump in there with all the expense just make sure that is really what you need.Whilst i cant think of too many lenders who charge more for borrowing in a Trust I can think of a lot that dont offer such favourable rate and fee discounts when the Trustee is a Pty Ltd Company.Also i would talk to a good Property Accountant specialist b…[Read more]

Not sure whether you have typed this as it reads but it is clearly not true:You can buy a residential property in the name of the super fund but using borrowing from personal assets, which I assume is what you'd do as you have other IPs.

The decision as to whether the income is treated as Trading Profit is not yours but the ATO and convincing them you are developer will involve doing more than just the 1 development.Also there are a few pluses and minus of such a strategy so careful consideration is required.If you need the name of an expert firm on Property Investing and Trust…[Read more]

SNM – Same again would need to be secured on lodoc basis.

KWNot sure who told you that lenders will not lend to a Trust structure because that simply isnt true.Admitedly some lenders are not keen but a good mortgage broker should be able to guide you through the maze.As to whether this structure is the right one for you without a lot more information on your investment objectives and your own individual…[Read more]

James believe we are up and runnng on email correspondance now……yeh ?

M3Assuming everything else you maybe able to take out a Line of Credit secured against their property in their name and they in trn lend the money to you at the same rate.Most lenders are going to want to now what the purpose of the loan will be but done properly all should be ok.Your mortgage broker should be able to point you in line with the…[Read more]

Finding a needle in a hay stack would be easier.As Terry mentions SGB is an option but not with short term employment.

Hi Natasha Good luck in obtaining finance for a FN.One lender we used to use a lot WAMU actually became a victim of the credit crisis and folded at the weekend.

Hate to knock a fellow poster bt really Rosey do you this is the place to sell your wares.If you are looking at property investing in brisbane James then feel free to drop me an email. I own one or two.I am away on holiday for a week but be happy to give you some ideas when i get back.Just be careful from people who offer you an opportunity of a…[Read more]

StuI am with you. It would have to be a very special client to want to repeat such headaches.

Hi JamesFirstly welcome to the forum and I hope you enjoy your time with us.I wont comment on the other points but merely the question of finance.As it is your first development you would probably be looking at borrowing a maximum of 80% of land costs and 80% of construction costs meaning you would need to fund the other 20% plus soft costs not…[Read more]