Leveraging exisisting Comm property held in super fund.

[moyjos]

Hi all,

Here is the scenario...
My boss has a factory unit that is owned by his self managed super fund (outright no mortgage)
The unit next door (which he currently leases) has come on the market and the LL has offered it for sale to my boss at market value.
(We work out of both these units)

Question:
Can he borrow out of the super fund using the existing shed as security without handing over cash?? (legals and stamps are OK)
This would make the total LVR of the 2 sheds 50%.


Looking forward to your answers.

 

[Pushka]

You really need to get an accountant opinion about that.

 

[Peter_Tersteeg]

Tricky question. There are rules around accessing equity in super fund properties. He needs to talk to an accountant or financial planner.

 

[Rolf Latham]

Hiya

Only way is to cross the place to use as collateral security.

Cant refinance an asset in an SMSF usually, BUT does depend on the deed and the age etc etc

ta
rolf