Use your superannuation to develop, renovate and flip property?
Did you know that you can use your superannuation, not just to invest in property and borrow money and buy property, but to actually develop property, renovate and or flip property? DG Institute founder and CEO, Dominique Grubisa explains how you can set up self-managed super, decide if it’s right for you to invest, or use that in a business related to property, creating income and wealth through property and property development.
In our wealth management arm of our business, and having helped hundreds of successful property developers and renovators, I wanted to share with you this little-known fact that your superannuation, if it’s right for you, can actually be used to grow your property wealth and your empire, and run that as a business.
A lot of people don’t know that, and a lot of accountants will tell you can’t do that. I say, empower yourself through knowledge. It’s what’s right for you, what’s right for your risk, your stage in life, and there’s a lot to take into account, but just know the right questions to ask, and seek out the right knowledge, because the fact is that it’s perfectly legal to take your superannuation and to set that up in a self-managed super fund where you have control.
It may not be right for you, and you should seek your own advice, but you need to know that that is potentially an option so you can start asking the right questions, and then once you have your own self-managed super fund, if you’re in control of growing that wealth, you can use that to develop properties. You can use it to buy properties, to own properties, but to renovate and sell properties for profit. You can use property as a vehicle to run a business with your superannuation.
Obviously, there are a lot of disclaimers and there’s a lot of detail around this, and you have to have the structuring set up right to facilitate that, and that will require expert input, but you at least have to know, starting out, that it is potentially a possibility for you to do that so that you can ask if it’s right for you and make those inquiries and make an informed decision, so if you’ve been thinking about using your super in the property space and wondering what you could do, how you could leverage that, and what was possible, there is a lot that’s possible, including the pinnacle of property, which is property development.
For information on Self-Managed Super fund, visit DGI Wealth Management
Lawyer, Asset Protection Specialist and Property Educator
Dominique Grubisa is a practicing legal practitioner with over 22 years of legal and commercial experience. She is a property investor and developer, an entrepreneur with businesses in Australia and Southeast Asia, a speaker, educator, writer and published author. You may contact Dominique at firstname.lastname@example.org
This column has been written for general information purposes only. It is not intended as legal, financial or investment advice and should not be construed or relied on as such.