- Suri007Participant@suri007Join Date: 2012Post Count: 21
After acquiring land in 2015, and going through a painful process to get 3 townhouses approved and building them in the South Eastern Side of Melbourne, I am happy to say they’re nearing completion – driveway and landscaping remaining.
I have a 1.48M loan for the e2e cost sofar.
The intention was to keep all 3 and rent them out. But they’re all in my personal name and my tax bracket is high.
I am not sure if I should sell all, sell some or what?
I know I want to buy another land and repeat the process. But I am not sure how to move forward.
Does anyone know a reliable property tax agent to guide me through this maze please?
If you do, please let me know I really need some direction.
Thanks All!TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213
try Mike at http://www.propertytaxsolutions.com.au in melb.
If you have made money you could sell and repeat the process and potentially make more (by getting more efficient). Next time consider using a company to hold the property perhaps.