Hi all
I puchased a 2 br townhouse last year in Brisbane.This property is producing a negative cashflow. I will be moving to townsville in about 6 months and am not sure what to do with my property. I have thought of doing a few renovations and selling, using profits to buy positive cashflow properties else. I also have thought of using a wrap or lease option strategy. What do you think??
Cheers
KarinaKarina,
Whatever you decide to do; remember that if this property is not your PPOR, and you sell before you have owned it 12 months (not a day less), you will be liable for 100% Capital Gains Tax.
Jo
Hi Onmyway,
Ultimately there are too many unknowns in your original post to make sound comment.
You really need to consider where this property fits into ‘onmyways’ bigger picture, your financial situation, what it is doing for your long term security, how it is accelerating or slowing your future, what you would do with the ‘gains’ you have made, are they likely to continue, have you a clear investment strategy in mind and a goal in place.
Without some careful though about these matters (and many others) you may end up making an expensive mistake.
At the end of the day good property held for a long term is a winner – is yours a good property?
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
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