Hi all,
My wife and I have just bought my first property (yay [
]) in the suburb of Edens Landing, Brisbane. Its not positively geared, but it would get close to it! We were going to buy a positively geared property, but it seemed that the positively geared properties are requiring much more in maintenance. Also being our first place, combined with the fact that over the next two years we will be living in the UK on a working holidays visa, we thought we’d buy something that a) wasn’t going to be as stressful with a body corp in place and b) we can sell when we get back and capitalise on capital gains. Anyone have any feedback as to whether this is a good option or not?Also any suggestions as to what to do – should we be funding as much of our money made overseas into the property to at least become neutrally geared and should we be focusing on selling when we get back to buy some positively geared properties?
Thanks for your suggestions [
]Phil
A life lived in fear is a life half lived!
hi Phil
i don’t live in QLD but i’d plan to hold long term. Brisbane should outperform the other Major capital cities so hopefully you will see some capital growth. real wealth in realestate is made by people who never sell. Remember historically the market doubles every 10 years, if this was to continue would it effect your decision to sell?
and Yes if you had any money left over why not pay off the loan those Pounds are worth heaps, it will knock the loan down real quick.
i only ever buy cash positive but if i was going for a Neg. geared property SE QLD would be where my money would go.
Long term- i’d hold, but from now on buy only cash positive properties.
hope this helps
westanHey Phil
Just a thought! How about buying the positively geared property and spend a few grand on maintenance before you head overseas, and make some money $$$. Add extra payments from job in the UK and you’ll be streets ahead of that silly old negatively (-) gear ip.
You know what to do!
PS Think positive! It works for me!! $$$
are there any tax benifits from working overseas whilst having a neg gear prop? I don’t know whether your overseas income is deductable?
(i have no clue about this area but it was just something i thought of.)
Josh
Josh,
I initially didn’t think you could, but a quick conversation with my accountant told me that you can offset your negative losses against your future earnings [8D]!
Phil
A life lived in fear is a life half lived!
Hey PhilJust a thought! How about buying the positively geared property and spend a few grand on maintenance before you head overseas, and make some money $$$. Add extra payments from job in the UK and you’ll be streets ahead of that silly old negatively (-) gear ip.
You know what to do!
PS Think positive! It works for me!! $$$
I don’t know why, but my last reply to this message didn’t work! The property is not negatively geared by far – a 4bdrm townhouse potentially returning $210pw purchased for $155,000. I would love to buy and improve, but we don’t have the time to before leaving for o/s.
I would have liked to buy a positively geared property in the Brisbane area, but they are definitely far and few between! Even -ve geared properties are snapped up before even being advertised! Has anyone else got some recent success stories of properties in the Brisbane metropolitan being +ve geared?
PJ
]) in the suburb of Edens Landing, Brisbane. Its not positively geared, but it would get close to it! We were going to buy a positively geared property, but it seemed that the positively geared properties are requiring much more in maintenance. Also being our first place, combined with the fact that over the next two years we will be living in the UK on a working holidays visa, we thought we’d buy something that a) wasn’t going to be as stressful with a body corp in place and b) we can sell when we get back and capitalise on capital gains. Anyone have any feedback as to whether this is a good option or not?
]
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