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"Crowdfunding" properties

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  • 20-08-2015 4:28pm
    #1
    benjamin d
    Registered Users Posts: 921 ✭✭✭


    Surely these things are too good to be true? http://www.daft.ie/sales/south-circular-road-south-circular-road-dublin/1091953/

    Seen a few similar ones now, and €4k return pa with potential for €5k on a €25k investment seems pretty phenomenal. Aside from the ethical question of being responsible for these dumps, there's no way they're giving a 16-20% return on a smallish lump sum that easily?


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    #2
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    benjamin d wrote: »
    Surely these things are too good to be true? http://www.daft.ie/sales/south-circular-road-south-circular-road-dublin/1091953/

    Seen a few similar ones now, and €4k return pa with potential for €5k on a €25k investment seems pretty phenomenal. Aside from the ethical question of being responsible for these dumps, there's no way they're giving a 16-20% return on a smallish lump sum that easily?

    BS, I saw this listed in the AH funny places to rent/buy thread and instantly called out the return as unrealistic.


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    #3
    CIARAN_BOYLE
    Registered Users Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    benjamin d wrote: »
    Surely these things are too good to be true? http://www.daft.ie/sales/south-circular-road-south-circular-road-dublin/1091953/

    Seen a few similar ones now, and €4k return pa with potential for €5k on a €25k investment seems pretty phenomenal. Aside from the ethical question of being responsible for these dumps, there's no way they're giving a 16-20% return on a smallish lump sum that easily?

    10% turnover before expenses which will eat up most of the turnover is my estimate assuming maximum occupancy.


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    #4
    newacc2015
    Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    If you google the agents company. There is no google results for it. I cant seem to find them on the PSR list of registered agents. They dont even give their full name. They have a house listed at €4000 per month with one photo. They seem a bit dodgy to me


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    #5
    Greenmachine
    Registered Users Posts: 5,063 ✭✭✭Greenmachine


    Rental yield sound ridiculous, average rent roll per unit of over €1000 on what are essentially bedsits.

    Imagine dealing with a tenant, when they stop paying rent, if you have another 24 landlords, who all want to deal with non paying tenants differently.


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    #6
    benjamin d
    Registered Users Posts: 921 ✭✭✭benjamin d


    Say if someone did buy in, what's the story with selling your stake again? I'd imagine you're fully at the mercy of the agent who could hold you to ransom?


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