When Brisbane-based couple Luke and Genevieve first thought about how to better plan for their retirement, they were aware of the benefits of maximising their superannuation’s capabilities. What they didn’t know however, was that they could use it to invest in property.
Luke’s father had an SMSF, so he was familiar with the benefits of having one. But despite his knowledge, Luke felt the complexities were too difficult to navigate without professional advice. Luke and Genevieve decided to learn more from Superannuation Property.
Luke said, “I’ve always been fairly aware of what’s happening in the superannuation market with regulation changes, and also the need to make sure I’m set up for retirement”.
“I initially had a chat with Tim [Fowler, Property Director] just to learn a little more about it, and it evolved from there,” said Luke.
“And that was when I became aware that buying property through super was possible. That was what interested me the most.”
Superannuation Property helped the couple set up a self-managed super fund, and assisted them through the process of purchasing their first investment property, within super.
When asked if setting up an SMSF is something he could have done on his own, Luke replied, ‘Not a chance!’.
“I would have probably spent a fortune in time and money, and not achieved what needed to be achieved. Doing it with Superannuation Property achieved what I wanted; they set it up, I signed some papers, and that was it. It made things a lot easier.”
Superannuation Property set up everything from the bare trust to the SMSF accounts, and then assisted with obtaining lending through the SMSF for the property.
“Setting up an SMSF does take some effort; it’s not done in 10 minutes like setting up a savings bank account. So it did take Superannuation Property some time to do it, but it was their time, not mine. After I understood what I was entering into, all I had to do was literally meet them a couple of times to sign some documents. It was completely stress-free,” said Luke.
Successful first-time property investors
The first investment property Luke and Genevieve bought through their SMSF was a townhouse in Petrie, Queensland, recommended by Superannuation Property.
The townhouse has been rented since day one for the past two years.
Luke saId, “It’s been fantastic, and hasn’t missed a beat. The tenants have been great; the body corporate people have been great. Good developers; everything has ticked the boxes the whole way through. Nothing has gone askew at all.”
Since then, Luke and Genevieve have bought a second investment property in Caloundra through Superannuation Property, this time outside of super.
A second investment property as part of the NRAS scheme
When it came time to think about that second investment, Luke again turned to Superannuation Property for advice.
“First, I asked Jonathan [McCullough, Financial Planning Director] if he thought another investment property was a good move. He reviewed our current financial position and confirmed that it was.”
This property was built from scratch as part of the Australian Government’s NRAS scheme. Luke believes it would have been very difficult to navigate dealing with the NRAS consortium and complying with the government requirements if he and Genevieve had done it alone.
“It’s been well worthwhile financially, but between building a new place and dealing with the NRAS consortium, council approvals etc..there’s so much to it. I would dread the thought of having to do it myself.”
A cohesive, interlocked service all under the one roof
According to Luke, the three different areas of Superannuation Property – Financial Planning, Property Coaching , and Finance – work very well together.
“I don’t have to go to other businesses to get advice on different things that are pretty interlocked.
“In any other situation, I’d be speaking to a financial planner, and my bank, and then a real estate agent. I would be the conduit between all those, to make sure that what one is saying the others understand so it all works well together.
“The beauty of Superannuation Property is all of those components are sitting under the one roof, and they all know what each other is doing. I don’t have to be that glue that holds it all together. It works really well.
“They have ticked all the boxes and coordinated absolutely everything. Other than signing documents, I’ve had to do nothing.
“It’s really taken all the stress and time out of everything for me. It’s been a really good experience as a customer.
“The process of building a new place is quite complex and full of potential pitfalls, whether with developers or council regulations. But we haven’t had any dramas, and it’s been smooth sailing.
“With two properties so far, nothing has gone wrong with developers, advice, contracts or legals.”
A third investment property on the horizon
Luke and Genevieve recently started considering a third investment property.
“After three years now of working with Superannuation Property, our first thought for this next investment wasn’t to look at properties online – it was to call Superannuation Property. It wasn’t even a thought to start elsewhere.
“For me, that really says we must be pretty happy with what’s happened to date for us to be doing that.
“When it comes to the nitty gritty details of achieving your goals, Superannuation Property are the ones that get the job done.”
If you’d like to learn more about stress-free property investment within your super, book a free consultation with Superannuation Property today.