Hello. I'm new and in need of advice.

Title could possibly be transferred to a company which you control. But it sounds like a bare trust with no discretionary aspects. Would depend on the terms of the will. Would be still a good idea to seek advice on this aspect.

 

Hi @Kate406,
I believe this is a blessing in disguise. Like many have already mentioned above, if you would like to build a "bigger" portfolio, a PPOR early on at your income level would be detrimental.
This does take a mindset shift, as the societal norm has instilled in us to buy a home with a white picket fence blah, blah, blah…

Invest in income producing assets, and have your money work overtime for you

Have you read Robert Kiyosaki's book Rich Dad Poor Dad?

 

Considered selling the property? It would be subject to CGT, but that would free up funds to buy a PPOR to live in which you could then set up a LOC against to purchase property to rent out.

Work out if you sold what the CGT would be and take it from there.

 

Comes as a surprise to some, but value doesn't equal return.
Some higher cost property have some mediocre returns.
Goes back to the old argument - would you prefer 1 $1M property or 3 $333k properties?