Has anyone here used their super as a deposit for an investment property? This would obviously mean setting up a SMSF and then having some agreement written up between the SMSF and the borrower, in this case yourself as to the terms of the monies borrowed etc.
I have access to a sizeable super fund and using this would make the purchase of properties a hell of lot easier.
Anyone?
Hot Rod
I have certainly heard of that.
I have many clients already investing their super in deposits. Earning between 15 – 25%p/a.Setting up the fund generally requires a set up fee (this is the only fee that your super can not pay for)
Cheapest rate $500, for absolutley everything.Then their is the yearly audit fee (your super can pay for) Cheapest rate is $800 -$1100.
A general overview of the rules;
You can invest in deposits (2nd Mortgages)
You can not invest in deposits of your own investment properties.
You can purchase investment properties with your super.
You can purchase a property for your business
You can pay for investment courses
You can pay for internet chargesThe list goes on………..
You have to lend your super out in a commercial sence. Another words you can not charge 2% p/a interest. You can not lend it to your self.
There are many ways that your super can benifit you now and grow for the future.For any futher info
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