From: Michele B
Looking at doing a couple of reno projects in partnership with my SMSF - a straightforward process, manageable risk, very good potential returns. Problem is, the rules say that any property being purchased can't be used as security for the loan. Hmmmmm
Being hobbled by this kind of investment conservatism reminds me of the old joke about "burglar proofing your home with concrete" Sure, the security aspects are well covered but what are you left with?
Does anyone have experience with SMSFs? Or can maybe suggest a creative investment strategy which doesn't risk your status as a complying fund?
Michele
Looking at doing a couple of reno projects in partnership with my SMSF - a straightforward process, manageable risk, very good potential returns. Problem is, the rules say that any property being purchased can't be used as security for the loan. Hmmmmm
Being hobbled by this kind of investment conservatism reminds me of the old joke about "burglar proofing your home with concrete" Sure, the security aspects are well covered but what are you left with?
Does anyone have experience with SMSFs? Or can maybe suggest a creative investment strategy which doesn't risk your status as a complying fund?
Michele
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