building postivite geared property in springfield lakes, qld, depreciation questions

[chaser]

Hi peeps , i've been a lurker on this forum for quite a while now, and finally decided to join and have a input.

i've been searching for a investment property for a few months and have finally found something worth investing in, and have a few quick questions.
the package im purchasing is on this site.

http://www.investmenthomes.biz/index.php?option=com_content&view=category&layout=blog&id=8&Itemid=9

-Firstly can i claim depreciation on a new property even if it is positively geared?,

-Secondly, does positively geared mean any money you make above your intrest repayments per week? or all your expenses per week including intrest repayments ,rates, agents fees etc...



hope i'm not sounding to confusing, any help would be appreciated

 

[Propertunity]

-Firstly can i claim depreciation on a new property even if it is positively geared?

Yes, often this extra associated tax benefit is what tips it into being +ve geared.

-Secondly, does positively geared mean any money you make above your intrest repayments per week? or all your expenses per week including intrest repayments ,rates, agents fees etc...

+ve geared means all your income on the property less all the expenses still gives you a +ve number.


and what is a "peep"?

 

[willair]

Hi peeps , i've been a lurker on this forum for quite a while now, and finally decided to join and have a input.

i've been searching for a investment property for a few months and have finally found something worth investing in, and have a few quick questions.
the package im purchasing is on this site.

http://www.investmenthomes.biz/index.php?option=com_content&view=category&layout=blog&id=8&Itemid=9

-Firstly can i claim depreciation on a new property even if it is positively geared?,

-Secondly, does positively geared mean any money you make above your intrest repayments per week? or all your expenses per week including intrest repayments ,rates, agents fees etc...



hope i'm not sounding to confusing, any help would be appreciated

Seems to be a very small block,why do you think Springfield Lakes! will be a good investment,if you do a search on that area you will find several posts on Springfield Lakes..willair..

 

[chaser]

peeps = Peoples, sorry i'm 26 and i use it as slang , thanks for that info propertunity

well i currently live in forest lake which is like 10 min drive from springfield lakes which is a advantage, and there is alot of infrastructure that is going into there, trainline, hospital, orion shopping centre which plans to be the biggest shopping centre in southern hemisphere when finished, as this is not completed yet, i do see a fair bit of growth in the area once it's done in a few years thats why i want to get in now, all other areas i looked at are either in woop woop somewhere or are overpriced.

edit: i do know it's small block but at that price it's all i can afford as i'm on a single income, and i want something new with the 6 yrs builders waranty , so i don't have any headaches down the track.

 

[Propertunity]

peeps = Peoples, sorry i'm 26 and i use it as slang , thanks for that info propertunity

No worries we tend to use ppl here for that

You should do well - sounds like you've done your DD and stuck to a budget.