All Topics / General Property / USING SUPER

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  • Profile photo of FitzerFitzer
    Member
    @fitzer
    Join Date: 2007
    Post Count: 12
    December 21, 2009 - 5:36 am

    G'day everyone,

    I'm looking at setting up a SMSF and building through a "house and land package" as all my other properties (5) have been bought already established and have taken a long time to become cf+.
    Would I be better off using all of my super (approx $100k) as a deposit to make the property cf+ sooner or maybe splitting it to build another? I only plan to hold the property for 10 yrs as I am hoping to retire early.
    Well that's about it in a nutshell, all comments will be appreciated.

    Regards,

    Fitzer.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    December 21, 2009 - 8:19 am

    Probably be best to borrow as much as possible as once you have the loan in place it cannot be increased to access equity.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    December 21, 2009 - 8:29 am

    Also the number of lenders offering construction finance for a SMSF deal are few and far between.

    You wont get a SMSF lend on land alone.

    Richard Taylor | Australia's leading private lender

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