Alison and Darren's Story...

Alison and Darren came to us with $135,000 in their SMSF account. They were both working. And they wanted to purchase a property in their SMSF. They have 2 children and said they wanted to ensure that when the time came to retire, they were still able to help their kids. They weren't really sure about what to do and were open to all options.

They were currently paying off the home they lived in, but this was to be their first investment property... and boy were they excited.  Here’s what we started with…

SMSF Starting Balance - $135,000

Darren's Income - $90,000 pa

Alison's Income - $75,000 pa

Age of Applicants – 45 and 44 years old

And here’s how it finished…

VIC Property Price - $310,000 (1 bed/1 bath/1 car apartment)

Loan Amount - $217,000

Deposit Required - $93,000

Costs - $20,000 (Stamp Duty/Conveyancer/Lender)

TOTAL OUT OF SMSF = $113,000

They still had $22,000 left in their Super Fund after the purchase.

We worked with Squirrel who set up the Super Fund. And RWE who found the great-value property.

The rent and their continuing Employer Super Contributions will more than cover the loan repayments. All costs including rates and strata will always come from their SMSF account. They're now looking forward to retirement.