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    A Note on Borrowing

    https://www.smsfproperty.net.au/

    Borrowing is a possibility, but much like other aspects of SMSF property investing, there are rules. Borrowing can only be done under very strict circumstances called a “limited recourse borrowing arrangement”. With this strict borrowing option, there are risks involved. 

    These risks can include:

    • Higher cost – SMSF property loans are usually more expensive.
    • Difficult to cancel – If your contract has not been properly set up, you may not be able to unwind this arrangement, which could cause potential losses to your SMSF.
    • Property Alterations Are Not Allowed – Until the loan is paid off, no changes can be made to the property if they change the property’s character in any way. 
    • Possible Tax Losses
    • Cash Flow – Payments are to be made from your SMSF which means your fund must always have sufficient liquidity and cash flow to make the payments.

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    2

    Consider the Rules before Using Super to Buy Investment Property

    https://www.smsfproperty.net.au/smsf-property-rules-for-investing/

    As mentioned earlier, there are smsf property investing rules that members must adhere to and should be considered to help them to determine whether or not a SMSF is the right thing for them. For example, if you were to use your super to purchase an investment property, it must not be lived in by a fund member or any other fund members’ related parties. Check out the Australian Taxation Office’s website on self-managed super funds to get a better understanding of the rules and regulations.

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    3

    Understand All of the Costs First

    https://www.smsfproperty.net.au/investment-strategy-property-development/

    The costs involved are an important thing to consider when buying property through SMSF. In general, SMSF property sales tend to have a lot of fees and charges; consequently, the fees do add up and will reduce the balance of your super. 

    Understand all of the costs involved before signing up including the following:

    • Upfront fees
    • Legal Fees
    • Consultations Fees
    • Stamp duty
    • Any Ongoing property management fees    
    • Finance and/or Bank fees

    Having a sound investment strategy will ensure that you get off on the right track right from the start.

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