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Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of David ParringtonDavid Parrington
    Participant
    @davidparrington
    Join Date: 2017
    Post Count: 13

    Hi guys, just after some options from some of you commercial property investors in regards to who/which SMSF you use to invest? Any popular or preferred SMSF?

    Cheers
    David

    Profile photo of Corey BattCorey Batt
    Participant
    @cjaysa
    Join Date: 2012
    Post Count: 1,010

    I’m assuming by ‘which SMSF do you use’ you’re talking about some of the cheapy no frills SMSF setup/admin companies which make their money getting commissions/bonuses from the limited range of products they recommend.

    Generally for ease of use and greatest flexibility for investing having a specific setup of a SMSF if the best pathway – an accountant/lawyer can organise this. You’ll generally need to get financial advice on the specifics regarding this – especially if you want to invest in property/commercial property as lenders will put it in their requirements for settlement.

    Just remember the important saying – pay peanuts, get monkeys.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
    Email Me | Phone Me

    Investment Focused Finance Strategist - servicing Australia-wide

    David Thiu
    Participant
    @david-thiu
    Join Date: 2017
    Post Count: 75

    Hi David,

    I’m not sure about your current situation and how involved you want to be with your SMSF, but back when I had limited funds available in 2013 I found that eSuperfund was amongst the most competitive in price and offered exactly what I wanted.

    https://www.esuperfund.com.au/home

    Although it can be time consuming to go through their entire checklist, and upload all the documentation required, I found that the effort and time was worth the sacrifice. Thanks to the SMSF I was able to invest in Steve McKnight’s Passive Income Fund, which has performed spectacularly since it’s inception.

    http://www.passiveincomefund.com/

    P.S. You might want to consider talking to an accountant about the best way to set this up i.e. you might need a Corporate Trustee in order to invest in properties using your SMSF

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,110

    A SMSF is a trust. The proposed members must set up a trustee and the settle the trust and appoint themselves members of hte trust. Who do you use? The trustee does the work. There are various companies that help in administration of the fund, there are also financial advisors that can advise on the financial aspects, but it is the trustee that must make the decisions for hte fund.

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

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Ben
    Participant
    @benmstarlinesecurity
    Join Date: 2015
    Post Count: 14

    Hi David,

    I just used the accountant I use for my business to set up the SMSF company/trust etc. You will need to get a financial planner’s approval and it is a fairly expensive process. Approx 20K by the time all the professionals and red tape invoices were paid.

    Terry summation is correct about the process and it can be a daunting but rewarding one to learn all the in and outs.

    I guess one of the main things to remember is that you need to think of an SMSF fund in a similar way to the super you have now, except (I assume because you are here) your SMSF will be investing in commercial property on your behalf instead of where super funds invest your current super. You still can’t access the money until you retire etc same as standard super.

    I would advise that your first step is to go to your accountant and financial planner with your plan and get their professional advice. This may or may not be the best option for you given your current circumstances and I believe it is best to get independent professional advice early on when it comes to SMSF.

    Profile photo of David HallDavid Hall
    Participant
    @wiggles2
    Join Date: 2014
    Post Count: 64

    Hi David,

    One thing to consider, prior to establishing your SMSF is the cost of your money, depending on what it is that you plan to do your interest rate will be higher 1-1.5% as will your deposit. Talk to your broker about what to expect before you establish.

    David Hall | Momentum Wealth
    http://www.momentumwealth.com.au/
    Email Me | Phone Me

    Buyers Agent

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