i just opened a new account and called it SMSF in Netbank, LIC/ETF dividends go in there and pay accounting fees and reinvest the surplus.
Go for a 30-year term as you can extend the retirement date to 75 with most lenders and make extra repayments into redraw if on a basic product or...
No, its covered under annual package fee of $395
Not saying it’s a good idea ;)
Most make a profit, some make a loss, is what is being conatated here.
6 months for SE? Can go to 90% on SMSF purchase Can use concessional with non concessional future payments supported by accountants letter and...
Credits job is to find reasons to not approve a deal, making things up "cause we have always done it this way" is in the land of feelz before...
I hope not and I won't be spending the extra income, it will be parked in an offset account at a minimum, and the majority probably will spend it...
That sounds close to free money, you have answered your own question right there!
I can’t see rates being cut back, will stay steady or increase is my bet, housing markets Aus wide are running hot and continue to do so, reducing...
You can purchase that 680k roper with as little as 10% down, including costs, that’s where property kicks ass, the leveraging aspect that you...
About 50/50 for me, when I do cook its bulk and will eat the same food for a few days, it’s a means to an end.
I can refer you to a good broker I use personally and for my clients, Perth based servicing Australia wide.
Welcome @Vinnieb1 To set up an SMSF, consult a mortgage broker and an accountant, cheers
I say whatever property will give you the best ROI, depreciation is more a cherry on top, not the reason for.
Any offset account used wisely is powerful, exponentially so with an SMSF.
You can’t cash out against an unencumbered SMSF property so the short and long answer is no.
Yes, property value, residential is 5% or thereabouts, may not be quiet 7%, just a rough guide for back of the envelope calculations.
Some lenders require very little to no liquidity, rule of thumb is to allow 5% for costs, with SMSF make it 7%.
Based on the info provided it looks doable, some lenders will go to 90% and take future contributions with an accountants sign off to bolster...
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