I've been in contact with National Wealth Advisory after seeing their social media adverts for an investment strategy that uses your income tax to pay down debt. It involves using a SMSF to buy an investment property with a structure that will help you pay off your personal home mortgage on an owner-occupied property - and reducing your tax.
The opportunity sounds amazing and some research I've done suggests this is completely legit.
There are a few methods to increase the benefit, including buying a brand new property to increase depreciation deductions, selecting properties in up-coming areas in hope they'll increase in value faster/more than others, choosing the property using an investment focus and not thinking 'would I live there?'.
We've started down the path including meetings with the financial planner, broker and asset manager. We're getting close to making a commitment and paying a $2000 holding fee to a property developer on a property we're keen on so now I really want to do my due diligence.
The investment loan will be with Macquarie Bank so I'm comforted that a reputable bank is involved. Our super funds have to oversee the transfer of funds and the ATO will be across the set-up of the SMSF.
We'll soon be meeting with their recommended lawyer (and every other contact has been on their recommendation) so I'm getting nervous about releasing our super / retirement funds to a dodgy bunch.
There are 2 other conversations on this site about them dating back to 2023 so there's nothing recent about them.
Has anyone used this company?
Has anyone made a similar investment through another company?
Do you have any feedback on the success of this type of investment?
Can you recommend another company (if that's allowed ) that I can get a second opinion from?
I'm scared to be releasing my super without some further reassurance about this company and the strategy. Any advice would be greatly appreciated.
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