In this financially unstable and turbulent world, it is hard finding a source that can bring you steady income every month. We have already been witnesses of several financial crisis where countries have gone from rich to unimaginably poor. In such economic conditions, Self Managed Super funds are the ”the light at the end of a tunnel” because they are easy to set up and maintain. For those who are not familiar with Self Managed Super Funds Property Investment, these are retirement funds that consist of two or more members and one trustee who will bear with investment and organization responsibilities. Although simple to organize, it is good to get informed first before you set up a fund. What makes Self Managed Super Fund property a good investment strategy is the fact that they offer longevity and lots of options. On the other hand, they require dedication and a real investment intuition, with which members can expect success and high income for a longer period. To help you achieve such success we will give you a deeper insight of how to deal with SMSF and property.
Most recent studies have shown that there are few interesting types of properties that trustees choose to invest in: hand and land packages, apartments, commercial properties and established houses. All these alternatives are considered to be highly profitable, if they fulfill some SMSF property investment key points like location and maintenance.
As true for any rental property, location is a major factor for having a stable and solid rental income. Good location that is close to major highways, schools, grocery stores, etc. is essential so that potential tenants find your property interesting. That is why you need to investigate the location of your property in terms of safety and if it is in a friendly neighborhood. These and other details need to be taken into consideration if you want to have a profitable Self Managed Super Funds Property Investment.
When searching for an ideal Self Managed Super Fund Property, it is also important to consider maintenance costs. So a thorough inspection of the property is needed to determine if the structure is old and needs serious renovations. These costs will also depend on your tenants and their discipline as much as your promptness as the owner.
There are some rules that apply when you are managing your SMSF and property investment. Normally, the trustee is the one person that should have some investment experience and knowledge, but when it comes to completing documentation and hidden clauses, it is best to look for a Self Managed Super Fund Property consultant. Given their experience, these consultants can easily help you with any questions that you may have and complete all applications fast and correctly.