G'day Richard, thanks for clarifying my question re fees. By clarifying, not meaning to be rude at all. Moving on, please send me you lawyers details, as with those fees we would be interested in working with them.

Cheers, Redwood

G'day QLDs007, 

Our fees are clearly stated on our website firstly this includes custodian trustee (including ASIC fees) plus custody deed.

Let me clarify $1750 is for bare trust or Limited Recourse Borrowing Agreement (LRBA) set up NOT SMSF set up.

Are you saying $1750 is steep? please prove me wrong here.

As you know ASIC fees are just under…[Read more]

When you get the dog boarding ste up let us know if you are in melbourne!

As Terry Said you need two structures.

Recommend the SMSF with a corporate trustee ($900) – this is one structure where the members will be directors of the company or trustee.

Second is commonly referred to a limited recourse borrowing agreement or 'bare trust'. Set up cost of $1750.

This is for the SMSF only – ongoing annual fees around $1000…[Read more]

Absolutely, we named our firm after it (refer below). Word of advice, tick bites are nasty at Redwood

So you are thinking a roomshare or 'air B&B' arrangement.

If you are receiving income which you are you will be taxed on it. If you plan to sell the house, it will effect your main residence exemption. Do you fully own the property?

Have a serious think about your insurance and ensure they sign a tenancy/ roomshare agreement, short term stayers…[Read more]

"Do Disney tickets count as necessary expense?"

hope you are being sarcastic there!

Hi Mathyland,

Assume the standard fund is a retail, industry or employer sponsored fund.

With $135k of super you are in a great position. Depending if you combine you super with your partner (if applicable) you can increase this balance.

What I suggest is considering setting up an SMSF, preferrably with a Corporate Trustee, rather than…[Read more]

Jamie M wrote:
Like anything – you get what you pay for.

LIKE!

I work in the SMSF field and I can tell you that I pay a premium for the right service. Structuring is important as is the advice you receive during the process, if you are not educated (through the advice) you will make a mistake and it will cost in the long term……

However…[Read more]

Agree with Richard, sounds to good to be true…

Land options are standard and can be good, however, please perform diligence on the developer as well as the area as there will be a period of time before you see your return

Hi Creasy,

Comments below on the first few questions
-what is the optimum amount you should have in your super before looking into this?

No exact minimum, generally i'd say $100k depending on the purchase price, you would need to pay for a deposit (say $60k) plus a $30k cushion

is around $10K the average cost of setting up a SMSF? ($7K to set…[Read more]

Absolutely right Richard, in my experience, members may use the SMSF name or their personal name…..important to seek advice before executing the bare trust.

Also ensure any deposit is paid out of the SMSF.

In terms of lenders be aware with most lenders you will need a 'Financial Advice certificate' signed prior to settlement and the bank will…[Read more]

Thank you Nigel for your thoughts, we do alot of work in the US and yes agree commercial is a great opportunity. Look forward to catching up and discussing some time soon.

Nigel who do you reccomend in investing in US property, apart from yourself.

Qlds007 is his name

Which state are they in? I know Axis Building group but they are not Victoria based they are SA and NSW. Redwood does business with alot of Melbourne builders and developers so if they are Melbourne send me a pm and I can ask around depending on your question. BTW, we are local to you and should catch up

Hi bobaaaaaa, great you can purchase outright, there are significant opportunities in the US, many growing areas, and everyone has a different opinion.

As for Henderson NV, we have placed property there for our clients, 3 in SMSF and one outright, with an average price of around $200k in the last year. quite a few forclosures and opportunity…[Read more]

Not sure of the title 'property spruikers' then asking a question about a guy Paul Bieg of Big Property Investments…I don't know them but i'm sure he would not appreciate his name associated with 'spruiking'

In aswering your question, where is he based, WA or QLD? if he is in QLD and selling properties in WA i'd ask questions…house and land…[Read more]

Hi there, re the $50k are you looking at going alone or combining with your partner (if any) in starting an SMSF? If combining you would want to consider the combined amount (assume more than $50k) and structure…i.e corporate trustee or individual trustee.

re secenario in 1, refer to SMSFR 2012/1, very topical and most likely not allowed,…[Read more]

Hi Tony, Welcome, which areas of the US are you looking at. As you may know, Texas is a hotspot.