Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

1 investment property in Stillorgan/Renelagh Vs. 2 in Tallaght/clondalkin

Options
2»

Comments

  • Options
    #32
    dublin2000
    Registered Users Posts: 86 ✭✭dublin2000


    https://www.boards.ie/discussion/comment/121601742#Comment_121601742

    That is a question I will be asking when viewing properties. I presume if the property was owner occupied the rent restriction isn't applicable then?



  • Options
    #33
    dublin2000
    Registered Users Posts: 86 ✭✭dublin2000


    Thank you all that have shared your thoughts, advices! How about if I take a different direction, upgrade my current family home to a better/bigger place, i.e. sell my current house buy another house is in a better location and hopefully bigger as well. The cons is that it won't give me a regular income I'm looking for, but the possible pro could be when I close to retire/or when I really need money in future years, I can downsize so cash out some of the equity as a financial support. Of course, I know this method will be depending on when I need to sell what the market is like, so there is a risk I won't get this benefit.



  • Options
    #34
    CoffeeImpala
    Registered Users Posts: 212 ✭✭CoffeeImpala


    https://www.boards.ie/discussion/comment/121604344#Comment_121604344

    You can get distributing ETFs. Sounds like you might need to talk to a financial advisor before committing to a property purchase.



  • Options
    #35
    3DataModem
    Registered Users Posts: 3,994 ✭✭✭3DataModem


    https://www.boards.ie/discussion/comment/121600914#Comment_121600914

    Yes but you are getting 800 wealthier per month as the mortgage is cleared. That's the "hidden" profit that people forget. The cashflow may be neutral or negative but you are basically saving 800 per month at no cost. The downsides are risk (overholding, damage, interest rates) and liquidity. Over the term of a mortgage you can generally expect to have made some capital returns on the property too.

    Rental yields in Ireland are still very strong. There is a lot of fearmongering due to the horror stories of the single-property highly-mortgaged average joe getting fecked over by an overholding tenant, while the mortgage piles up. However for those not so heavily geared, who spread their risk, the returns are incredible. This is why REITs are entering the market while small-holders leave.



  • Options
    #36
    GAAcailin
    Registered Users Posts: 881 ✭✭✭GAAcailin


    https://www.boards.ie/discussion/comment/121604374#Comment_121604374

    Could you consider getting a place with a granny flat or a converted garage with separate access and do the rent a room scheme. neighbour does it for 9 months of the year and earns €14,000 tax free per annum. She then does air b n b on a casual basis during Jun/july/Aug; easy money. The way things are at the moment its simple to get tenants for shorter periods - that could change though.

    She earns more per annum nett then we do on a rental property 3 bed in Dublin 6 W. NO RPZ, the main thing is that the minute you go €1 over the €14,000 the whole lot is taxed.



  • Advertisement
  • Options
    #37
    dublin2000
    Registered Users Posts: 86 ✭✭dublin2000


    https://www.boards.ie/discussion/comment/121605519#Comment_121605519

    Granny flat could be an idea worth considering. My own house does have the space to build a side granny flat, but it is not in a very demanding location for rent. In the current environment I will get tenants but when downturns, it can be hard. Also, build a granny flat though give you some income but you won't get the full capital release of say a 2 bed apartment or house when say in your 70s when you need money. What I mean is, if you own a separate property, doesn't matter its an apartment or small house, say 20 years later you need a big lump sum, you can sell that place to get the capital back, 200k or 300k whatever, but it is a large sum of cash. if you have a granny flat attached to your house, unless you sell your house, you won't get the capital release.



  • Options
    #38
    dublin2000
    Registered Users Posts: 86 ✭✭dublin2000


    https://www.boards.ie/discussion/comment/121604722#Comment_121604722

    That's what I've been thinking as well. Even if you are just breakeven, you have someone paying off the mortgage, so once paid off, you are left a house with only the downpay you made at the start, so you are actually gaining profit, but just in a long term. Of course, I understand some people's point that one bad tenant could ruin you for years.



  • Options
    #39
    Donald Trump
    Registered Users Posts: 19,538 ✭✭✭✭Donald Trump


    https://www.boards.ie/discussion/comment/121604344#Comment_121604344


    Don't forget to consider that a house is ultimately a relatively illiquid and non-divisible investment. You cannot cash in part of it.



  • Options
    #40
    Donald Trump
    Registered Users Posts: 19,538 ✭✭✭✭Donald Trump


    https://www.boards.ie/discussion/comment/121605519#Comment_121605519


    She runs the risk of her airbnb money pushing her over the limit. You cannot claim the relief against such income, but unless I am mistaken, it would still be counted as income towards the limit.



  • Options
    #41
    SharkMX
    Registered Users Posts: 1,457 ✭✭✭SharkMX


    https://www.boards.ie/discussion/comment/121599745#Comment_121599745

    Non other than Eoin O'Broin, the potential next minister for housing. Total thicko going around with his round glasses to make him look like there is a brain in there., Every time he opens his mouth the empty head shows itself.



  • Advertisement
  • Options
    #42
    spuddy
    Registered Users Posts: 793 ✭✭✭spuddy


    https://www.boards.ie/discussion/comment/121607469#Comment_121607469

    I didn't remember it was him, although I tend to lob all politicians into the same bucket!



Advertisement