My wife and I are to inherit a fairly substantial amount of money (north of $1,000,000). I am almost 60 and have 3 children aged 25-30. I have got some financial advise who suggest I put it into superannuation managed funds (not SMSF). While I understand the taxation benefits of this approach I am not particularly excited by it.
This is my plan, buy 4-5 houses for circa $300,000 each with 50% leverage. The rental return will more than pay the interest and perhaps put some back into principal. I would like to be looking for reasonable house on a large block in cheaper suburbs.
Hopefully this will get me 4% rental returns and a similar CG return to fund our retirement. With potential to develop or at least subdivide in 10 or so years once we have both stopped working.
Does anyone have any suggestions for how we should structure this? Is this a sensible approach or should I be putting it into super? Can I set up a SMSF and do it through there?
This is my plan, buy 4-5 houses for circa $300,000 each with 50% leverage. The rental return will more than pay the interest and perhaps put some back into principal. I would like to be looking for reasonable house on a large block in cheaper suburbs.
Hopefully this will get me 4% rental returns and a similar CG return to fund our retirement. With potential to develop or at least subdivide in 10 or so years once we have both stopped working.
Does anyone have any suggestions for how we should structure this? Is this a sensible approach or should I be putting it into super? Can I set up a SMSF and do it through there?