@@WayneClayton-h9r good comment, appreciate it.

@@AMJB100000000 Thanks for the question. I’ve broken things down into 2 simpler answers: 1. Earnings - yes, the money you contribute and withdraw can include some earnings. These are capped at around 6.90% at the moment. 2. Hardship - you can always look to access your super in hardship but the rules are quite tight. There’s an option to get the FHSSS determination done and use the money for non-purchase items, but you will need to pay back the tax you should’ve paid at a later date. Hope that helps!

I agree the grants are the best they’ve ever been! But hopefully you bought before covid and got all that capital growth from the housing boom!

@@georgesamios_madd purchased during GFC partial share. Then first proper house 2013 the only other dip in house prices since. If you bought after 2020 you are in for some hurt. As limited capital growth so may not be able to refinance with equity to remove lmi etc.

Hey! Just to clarify, any payment into a home loan (excluding offset accounts) reduces the principal balance. When you deposit funds during the payment period, it lowers the balance, but only amounts above the required repayment increase your available redraw. The required repayment is held in reserve until the end of the monthly cycle, then it's released as available redraw. This setup helps folks who pay weekly or fortnightly avoid accidentally taking out money needed for the monthly repayment, which could cause the loan to fall into arrears. The reserved redraw amount is there to keep you from falling behind on your payments.

Hi and thanks for the question! You can most certainly make the contributions yourself! I’d suggest speaking to an adviser before doing so to make sure it’s done the right way.

Hi Aaron, would love to help you achieve your financial goals. Please email me direct - [email protected]

Thanks for the comment, the biggest cost when buying is Stamp Duty. Other costs are legals (conveyancing) building & Pest, Rates & Water adjustments and lender fees. On 2M it’s going to be $100-110k in buying associated fees/costs. Hope that helps.

Thanks. When you draw equity out of residential assets, what's the best loan structure to do this for purchasing a commercial property. I.e a line of credit on residential to draw out deposit for commercial?

@@adamgrassodesign if you cross securitise your residential property against the new property you can do whatever you like, it’s best to get your accountant’s advise on this one.

yes, technically you dont even have to be employed

Thank you 🙏

Once you get your first one, it’s gets easier. With property growing in value every year and paying down the mortgage the equity will get there.

No, not quite. When you withdraw it, you get a 30% offset I.e. if you withdraw $50,000, you will only be taxed on your Marginal Tax Rate minus the 30% offset. So if your MTR is 37%, there will be an approximate taxed amount of 7%. Hope this helps and if you want more info please email [email protected]

@@thekienlam7426 thanks for the comment, yes, that plus new rental income, other investment in the SMSF.. appreciate you following!

Thanks for the question Johny. I think everyone’s situation is different and if you are seriously wanting to buy in the next 6 months I’d recommend a meeting with one of my brokers to set you up for success. Work out exactly what gov grants your entitled to, is there other stuff that may help get you there and so on. Can you email me your number and I’ll reach out. My email is [email protected] Thanks

Thanks for the comment. I’m a bit confused where you got 9% rate from? Are you referring to the banks assessment rate? If you’d like some more info or even a phone call let me know and I can help out. Also, if you’re in Brisbane we are doing a free first time buyers workshop at the end of the month. If you’d like to come let me know. Thanks for watching George

Great idea, we will look to do one in the future but for a quick answer now for you: basically you can expect to pay a small amount of tax upon withdrawing (the difference between your Marginal tax rate and 30%) but the scheme is still a fantastic way to save faster for your first home purchase! I’d love to help you with the scheme and buy your first property, can you email me your number and I’ll reach out to show you what’s possible for you? [email protected]

Good question - and the answer is Yes! As long as you both meet the eligibility requirements. Let me know if you’d like some more help.

Thanks for the comment we appreciate it! I’m also a bit confused from your question, Would you like a broker call to show you exactly what’s possible for you, free? Please let me know and I’ll arrange. Thanks George

Thank you for the feedback, really appreciate it 🙏

Thanks for watching :) glad you enjoyed

Great question, in order to get the loan approved we need to assume the actual rate plus a buffer of 3% increase rates increase. The rent most probably won’t cover the mortgage, the banks will use other income the SMSF gets such as your ‘standard contributions, any extra contributions or salary sacrifice plus the rent from the new investment property. Hope that makes sense

Thanks for the positive feedback Mick appreciate it 🙏

Thanks for the feedback, appreciate it. I’d be interested to talk with you and understand your current property mix, if Resi maybe the yields which doesn’t help your borrowing capacity plus your playing with the DTI’s like you understand. If however you begin to play in commercial property it is looked at a bit different, I’ll do a video on it for sure, but in the interim if you’d like to talk pls give me a call 0411 33 33 69 or [email protected] Ps. Have a look at the smsf video I did, that could be another way to get one.

Thanks for your comment. Yes, you will also need to prove serviceability. When you do buy another property the rent can be used. Thanks

Hi Natasha, thanks for the question! Because the timing of the release is during the Financial Year, the ATO will be able to forecast your expected Marginal Tax Rate and withhold an appropriate amount of tax upon release. The FHSSS offset with then ensure that you shouldn’t have a negative tax outcome. But to answer the question, yes, the withdrawn amount will potentially result in a movement of tax bracket, but the offset process will look to mitigate this issue. There are some great resources on the ATO portal around this.

Thanks for watching, glad you enjoyed. Have a good trip 👍

@@georgesamios_madd thank you!! 💗

Hi Buddhi, Thanks so much for the question. You can use the super saver scheme in conjunction with the first home guarantee, remember not all lenders are doing the first home guarantee. I can get one of the team to do a free assessment for you if you’d like? Please email [email protected] and we can get you on your journey to property ownership 🤙😀

that's a terrible yield, find something better

Thanks for your comment Brandon, wish you the best in life.

Nice comment, I agree with you. I always tell people it’s 2 things you need when getting more debt from the banks, EQUITY & SERVICEABILITY. Thanks for watching my channel appreciate it.

Why is it a being deal for banks when it comes to serviceability? Worst case scenario the person defaults on payments and the bank takes ownership of the property and sells it for profit?

@@xXMaster97Xx because that’s called irresponsible lending and the banks can be fined for doing that.

A wise man once said to me, if your paying heaps of tax, your making heaps of money. 😎

Mate thank you for commenting. I’d recommend having a meeting with one of my brokers to work out your capacity to borrow and make a game plan. Everyone who builds a property portfolio starts with 1. Email me your info [email protected] 👍

@@forduckssake8442 There are 2 caps you’re dealing with here - the concessional cap of $27,500 and the FHSSS cap of $15,000. If you’re contributing $17,600 per year, only $15,000 of that amount can be used towards the FHSSS amount and the rest will just be build up your super balance. Hope this helps!

Hi mate, Great question, firstly is that the net cost on an interest only loan? Also, make sure you work out the post tax benefit after negative gearing, depreciation etc. Nevertheless, there will always be a loss to hold property initially.. if it was easy everyone would be doing it. Now let’s say $300 loss a week, well that’s $15,600 a year. Over a decade that’s a cost of $156,000 to keep that property. Do you think the property will be worth more than that? Check the history of capital growth in the suburb you’re investing in, chances are it’ll grow maybe 5-7% per year meaning that property could be worth >$850k in 10 years. Hope that helps. Would love to help with your lending, just email me [email protected]

@@georgesamios_madd No, I thought it was interest only but upon double checking, an interest only loan would only be $673 P/W which makes it much easier to manage. Cheers for the reply mate, much appreciated.