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The property is a shared house (not single bed flats) near a university so good tenant's are easy to come by and the conversion will only cost $200 as I can do the labour for free. I want to stay in Perth as then I can do any property management and maintenance to keep holding costs down (you don't get 3×1 for the price you- suggest in this area ) . I noticed your link takes me to nz but a 6% drop in house prices and a recession doesn't sound like a good place to invest to me but thanks for your comment
fire walls and noise rated walls cost money ask your council and get it in writing cause you dont get any recourse on phone conversations
see your accountant you may be up for gst on the sale plus capital gains tax opps guess what you have just made a loss o and did you factor in a declining market
funny how they dont mention the basic stuff at the get rich quick investment seminarsetty the nearly burnt elf
Hi Micheal .
The depreciation for 07/08 was $5100 the suberb is Pearsall
Regards Ettysorry put the last post in the wrong place
extra confused bush investor
How does the tax office diferentiate between a passive or active investor and what are the tax implications>
if you hold an investment property for over a year and then sell it that is considered a passive investment yes??
but if you sell your property or several properties before a year of ownership do you become a active investor and what are the tax implications ie is it capital gains tax or personal income tax
or you have several investment properties and you sell one or more within a year but keep the others for over a year are you active or passive investor and how is the tax calculated
confused bush investor !!
excellent
Perth has a two tiered market
the top end of town above 800k is doing well
the 300 to 500k is nutral either slight growth 2% or slight decline 2% depending on suburbThere is a possibility of another interest rate rise in the coming months which will probably depress the market slightly if it happens
the long term prospects for perth are very sound with incredible mining development , very low unemployment and a very tight rental market. so a purchase in perth would be a sound long term investment.
etty
ps I am selling one of my 5 perth properties (cant afford the shortfall at the moment) 460k rented at 390pw 4/2 2 year old house if your interested
in my experience of this type of purchase the builder inflates the price to cover the high rent they pay so at the end of the day you dont make anything unless your in a rising market or you buy a liability in a declining market
check out the price of similar established houses in the area and compare
beware of your emotions wanting the property verse the numbersTownsville (mundingburra) and Redbank Plains (45 min south of Brisbane)
Thanks for your comments,
I should have said that I have already used the equity in the perth properties and brought another investment property in queensland which is doing really well much better than the perth properties
This makes me think I should sell one or both of the perth properties and reinvest in queensland where there will probably better long term capital growthetty
