Bought this strong cash flow positive property in SMSF earlier this year
We concluded purchase of this amazing block of 3 units for SMSF clients. 2 couples joined hands to form SMSF to buy this property. It was a combination of self employed and salary & wages employees.
Challenges:
Being a block of 3 units not all lenders would look lend and then when it’s regional location, pool of lenders gets restricted further. After having a number of discussion with various lenders and getting approvals from senior management, we were able to get it over the time.
Some of the figures are listed below
SMSF Balance | $ 250,000.00 |
Purchase Price | $ 570,000.00 |
Loan Amount | $ 399,000.00 |
Monthly P&I Repayment | $ 2,010.00 |
Monthly Rent | $ 3,640.00 |
Surplus per month | $1,630.00 |
This strong cashflow property had strong capital growth as well. Finding a property that can pay off as well as build your super balance can be challenging yet rewarding.
For more information on how we can support with your purchase in super journey, reach out to us on hello@amitaggarwal.coma.au
