Saturday morning: your clients, James and Marie, armed with some awareness of SMSFs attend an auction.
They are convinced the property will make a perfect investment for that SMSF they keep meaning to set up. They make the winning bid.
They then sign the contract and hand over a personal cheque for the deposit. On Monday morning, James and Marie call you requesting an SMSF be set up straight away.
The big issue
Unfortunately for James and Marie, there are some major issues with their ‘I’m sure it will all be fine’ approach to SMSF property investing.
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