Hello from Brisbane!

Discussion in 'Introductions' started by Ellie009, 13th Mar, 2021.

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  1. Ellie009

    Ellie009 Member

    Joined:
    13th Mar, 2021
    Posts:
    8
    Location:
    Brisbane
    Hello everyone!

    I am new to property investment, we purchased our first IP two years ago. We are in our late 30's and planning to have a decent retirement as early as possible.

    Currently I am looking to find ways to minimize the land tax as the property is in trust name and makes us pay $5k tax a year which changes all profits calculations as we were not aware of it before purchasing IP o_O:oops:

    I am very excited to be a part of this forum and I hope I can be helpful to others someday!
    Cheers,
    Ellie
     
  2. boganfromlogan

    boganfromlogan Well-Known Member

    Joined:
    10th Jan, 2017
    Posts:
    3,332
    Location:
    Brisbane
    Hi Ellie009, hope you are enjoying the boom. good timing with your IP, retirement might be just round the corner!!
     
    Ellie009 likes this.
  3. Ellie009

    Ellie009 Member

    Joined:
    13th Mar, 2021
    Posts:
    8
    Location:
    Brisbane
    Thanks! Is Brisbane booming at 2021? We have purchased our residential home 6 years ago and were thinking to keep it or sell it.. hard decision to make as it maybe early to sell it out now, but selling can give us some cash to purchase a better option.
     
  4. boganfromlogan

    boganfromlogan Well-Known Member

    Joined:
    10th Jan, 2017
    Posts:
    3,332
    Location:
    Brisbane
    So if you have an investment and a principal place of residence in Brisbane both are probably booming. Some of the increases are quite spectacular, I am sure if you look closely at your properties and around the suburbs you know you will be able to see the boom happening.