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How to do a SMSF Borrowing

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Published on Apr 26, 2012

http://www.smsfstrategies.com Hi, I'm Grant Abbott, I'm principal of SMSF Strategies, and also Chairman of the Australian SMSF Member's Association, here on beautiful Sydney Harbour, you can see the amazing property that Sydney has to offer. Probably the hottest strategy at the moment is being able to buy property through your self-managed super fund. We're not talking commercial property, we're talking waterfront property, we're talking investment property, we're talking rural property, and that really is a, an amazing strategy that's really taken the superannuation industry by storm. But importantly most people don't know how to do it. So I'm going to give you the good oil on how to set up a SMSF property borrowing. The first thing you need to have is of course, um, a self-managed superannuation fund. That needs to be an up-to-date 2012 deed, otherwise it's not going to pass muster with the bank. That will then have to have a corporate trustee on it. You never, ever want to set up a self-managed super fund with individual trustees for longevity purposes. Now under the law you need to have, what we call, a holding trust. This is a, a trust that you set up, it's a very bare bones trust, that's simply going to hold the legal title of that property. That will then also need to have a company. Sounds a little bit complicated, but a really good advisor will help you through. So you'll have a corporate trustee on that, and then once you're away from that, you're off and you can then start to borrow. And I think that's the crucial, find a lender, or what we find is a number of people who'll actually lend from the equity of their own home, and become the lender to this superannuation fund. Anyway, that's Grant Abbott, giving you the good oil on how to borrow through a self-managed super fund.

Video by - http://syndicationsocial.com

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