With your primary goal kept in mind of purchasing a property through your super. We believe right now is not the most appropriate time to achieve this goal. We have come across many people in a similar situation which is why we built a strategy to help like-minded individuals achieve this goal sooner, rather than later. We call this our incubation phase. Basically, we will ensure that your super fund is working the best it can to grow your balance, along with your super contributions. We will touch base every 12 months to keep you informed about the performance and when our mortgage broker gives you the green tick of approval for proceeding to purchase a property inside your super we will be straight to you to inform you of the good news and then proceed to get you into a buy-ready position.
Let's get all of the hard work out of the way now so we don't have to later, I will start with the fact find now. [Continue into fact find and onboarding process]
When setting up your Self-Managed Super Fund, we will need to set up 2x entities, one will be your SMSF, with a corporate trustee, that you 2 will be the directors of. This will act as the cash hub for the fund, where your property expenses, accounting fees, and insurance premiums will be deducted from your rental income and Super Guarantee contributions paid into.
The second entity will be a Bare Trust, also with a corporate trustee, the purpose of this will be the name that is used on the contract of sale for the property inside of your super.
Should you be in a position and wish to purchase a second investment property, you will need another cash deposit (unable to use the equity from the first property). Then we would set up another Bare Trust entity.
My Online Adviser's fees for setting up and managing a Self-Managed Super Fund.
$10k upfront fee (A-Z package) includes SOA [advice regarding the set up of your SMSF, investment advice after the settlement of your property purchase, insurance advice, complex lending with our mortgage broker at My Online Loans and other complimentary advice that we see to be appropriate.