SMSF - what need to borrow - Corporate Trust and Bank account

Self managed super funds. If you've got a self managed super fund, listen in to these next few videos to understand what you need to.

Do to be.

Able to borrow some money and buy a big fat asset into your super fund and leverage those funds to make you more money in the future. Hey, it's Aaron from Diagnostics and Finance. One of the big things you need in this part, one of the video is you need to.

Have a corporate trustee.

Now a couple of my clients recently came to me with an.

SMSF that.

Had an individual.

Trustee versus a corporate trustee.

And one of the things you need to be able to borrow right now.

Is to have a corporate trustee.

Now they had to convert.

It to a corporate trustee.

It didn't take too much time. Accountants love that stuff and do it.

Really, really quickly with a corporate trustee.

That allows you to have the super fund and then you have this company sitting behind it and then that company can go out and get a bank account. And a bank account is a really cool thing to have in a self managed super fund because you can move your funds from where you were in an industry super fund, a retail super fund, into the self managed super fund and that will allow you to achieve.

The first step of.

Buying a property or being able to.

Borrow, which is actually the deposit.

Stamp duty legal costs.

To do that.

So this is the first video. What do you need to be able to borrow? One is you need.

The corporate trustee.

If you don't have one, jump into your accountant or give us a call and we can help you out to direct you in the right way. Hey, it's Aaron.

Have a great day.