SMSF For Property
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And welcome to another episode of the Real Estate Podcast available on iHeartRadio every morning, also on Spotify and Apple and wherever you get your podcast from. Well, it's a Tuesday. Yes, the second day of August for 2022. And coming up, we are going to be speaking with Sam Saad about a really interesting fund that has all kinds of benefits for you with regard to your property and your portfolio and how you can use this fund for your advantage. Because it's a Tuesday and it's a new month, that can only mean one thing. Of course, we are expecting to hear from Philip Lowe later today about the RBA's next move. Let's brace ourselves and see what happens. Is it going to be 50 basis points? or 75 basis points.
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From first home buyers to property investors and everything in between, every morning on the Real Estate Podcast. Let's talk property contracts and conveyancing, a podcast series with Sam Saad.
Well, I've got a question for you this morning. Do you know what an SMSF is? Many people will not know what it stands for. It does stand for a self-managed super fund and self-managed super funds are becoming more of a popular vehicle for property buyers to purchase commercial property through. The important question here is what does all of that mean? there are pros and cons with purchasing a property in a self-managed super fund, and there are processes that need to be followed for setting it all up. So to help us understand more and to explore what you should be doing to get this set up correctly, let's welcome back to the podcast Sam Saad, partner and owner of Clinch Long Woodbridge Lawyers at clw.com.au.
And a very good morning, Sam.
Morning, Craig. Thanks for having me back with you again.
And I'll be honest, no 10 points for me knowing what an SMSF is. But the great thing is we are about to find out what it means. So firstly, Sam, there will be many people like me wondering what it is and what is required to set one of these up to buy property through.
Yeah, that's right, Craig. Look, an SMSF is, as you said, a self-managed super fund. It's basically a superannuation fund that you set up for yourself to allow you to invest your super monies in the way that you want to invest them. For example, you can invest them in residential or commercial property. It allows you to have full control over what you want to invest your super and your future retirement savings in.
So what do you need to do to set it all up?
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