Hiya
Early days yet but i am thinking of buying a cheap property using smsf.
A few questions; if i put my super into an smsf and buy a cheap IP with very little loan (i believe you can loan up to 80%),
a) can i continue to use the monthly super to pay down the rest of the loan
b) will the rents thus received from the IP go into my pockets or will it have to go to the smsf...
c) will step b) then help to improve servicibility thus enabling me to leapfrog to another IP?
As i say it is early days yet but i am exploring the possibilities; would love to hear from someone out there who has done it....
Early days yet but i am thinking of buying a cheap property using smsf.
A few questions; if i put my super into an smsf and buy a cheap IP with very little loan (i believe you can loan up to 80%),
a) can i continue to use the monthly super to pay down the rest of the loan
b) will the rents thus received from the IP go into my pockets or will it have to go to the smsf...
c) will step b) then help to improve servicibility thus enabling me to leapfrog to another IP?
As i say it is early days yet but i am exploring the possibilities; would love to hear from someone out there who has done it....