I also reviewed the following web site, it explains very much about the process, fees, etc.
http://esuperfund.com.au/how-smsf-self-managed-super-works.html
Has anyone ever used this company?
Thank you all for reply. I have 100k in my super. If I roll over the amount into a new SMSF account and use 80k deposit to borrow 80% which 320k to purchase $400k property, is the surplus money (20k left) not enough for a lender's criteria?
I would like to know more about SMSF to purchase a property.
I have watched all 22 video in the ato web site, I understand it basically. But I need to judge whether it is a good way for me or not.
https://www.ato.gov.au/Super/Self-managed-super-funds/Thinking-about-self-managed-super/...
I'm just starting to manage 2 properties in qld. This is because I can save Management fee 7-9% (e.g $300pw * 10% = $30 ) and can use the money for repairing or something. It is good for you to try.
Phase 1
1. Inform the current manager that you intend to take over.
2. Ask prepare a bond...
In my case I have settled one of properties yesterday in QLD,
1. Valuation and Refinance from bank A to bank B -> 3-4 weeks.
2. Pre-approval from bank C right after the above 1 -> a few days.
3. Unconditional from bank C after sending the signed contract -> a few days.
( I communicated with a...
Thank you for your advise. I will research and experience more then work out how to do effectively.
Do you know the URL for "The best source of information is your state Dept of Commerce. They will have downloadable forms and information booklets."? I wanna have a look.
What do you mean by...