What are your thoughts on this as an investment?

Pinkycharm

I know it could be a waste of money there are two or three places I'm looking at at the moment just as an investment. I think if I got it for that price and put a about 3 or 4k into it, it could be a great rental and it. the area is excellent, it's an old area of town but literally 10 steps from tesco and town is a 5 minute walk.

http://www.daft.ie/sales/17-st-johns-terrace-nenagh-tipperary/977065/


(if this is against rules, mod can delete!) Just want a few opinions.

Thanks

TheDriver

3-4 grand sounds little low, windows look rough, kitchen isn't there and no,more photos is never a good sign. Is nenagh a good rental base??

The_Conductor

TheDriver wrote: »

3-4 grand sounds little low, windows look rough, kitchen isn't there and no,more photos is never a good sign. Is nenagh a good rental base??

I'd echo this.
Have a look at the houses on either side- one has a brand-new roof- the other is about 15 years old (going by the state of the slates)- to be honest- this looks like it could need significant work- vastly in excess of the asking price........

It has a low asking price- for a reason..........

Pinkycharm

TheDriver wrote: »

3-4 grand sounds little low, windows look rough, kitchen isn't there and no,more photos is never a good sign. Is nenagh a good rental base??

Nenagh is great, well I think so, I rented there for a while before I was teaching and commuted easily to Limerick, rent was way below what it was in there and the city is only 25 minutes away. Now with the motorways you'd be in Dublin or Cork within a hour and a bit and same with Galway. Always wanted to buy something here as a little base, but I think I'll go look at it and see. Last thing I really want to get into is another huge fixer upper but wouldn't mind a little work.

There are two more properties I'm really interested in but estate agent told me they arent on the market just yet so might hold out and have a look there too.

Pinkycharm

The_Conductor wrote: »

I'd echo this.
Have a look at the houses on either side- one has a brand-new roof- the other is about 15 years old (going by the state of the slates)- to be honest- this looks like it could need significant work- vastly in excess of the asking price........

It has a low asking price- for a reason..........

That's true, I'll definitely keep looking and see what else comes up!! I'll arrange a viewing and see where I get, I might be able to get it for lower if there is a lot to do!

handlemaster

Very few photos not a good start

TheDriver

I always wanted a fixer upper but after costing work on a number of houses, i wouldn't touch anything bar needing flooring and tiling unless you are a tradesman. Cost is always more than you think unfortunately.....

Das Reich

I always looked at Tipperary properties at daft and Nenagh always the town with the cheap price (if you set to show low prices first). The rental market is not great if compared with Clonmel or Cahir that are towns with factories. Nenagh have too much properties to sell/rent on daft for the size of the town.

ted1

What's the expected rent? At a low price I'm guessing it's not much. This means any expense is going to hit your profits hard.
PRTB, insurance, boiler repair/ service , leak , etc.

So to make a profit may be hard

the_syco

Looks like the window is boarded up? Couch has a sofa in front of it; why? Also random stuff that looks like it was pulled off a wall on the couch.

I'd talk to the neighbours to see what sort of people rented the place beforehand, as I'm thinking the landlord may see it cheaper to sell than to fix the place up. Also, if you intend on renting the place out, could be helpful to see what sort of people the neighbours are?

Pinkycharm

yeah guys it's a no go, has a bad history of stuff going completely wrong in it, was talking to a neighbour today! Will post the others to see what ye think when they go up online, there is one that I am 100% interested in and we've viewed it already so will be interesting to see what ye think

Pinkycharm

ted1 wrote: »

What's the expected rent? At a low price I'm guessing it's not much. This means any expense is going to hit your profits hard.
PRTB, insurance, boiler repair/ service , leak , etc.

So to make a profit may be hard

Once property was done up to the standard, agent said €100pw

Pinkycharm

Das Reich wrote: »

I always looked at Tipperary properties at daft and Nenagh always the town with the cheap price (if you set to show low prices first). The rental market is not great if compared with Clonmel or Cahir that are towns with factories. Nenagh have too much properties to sell/rent on daft for the size of the town.

That is true but there are also a lot of people buying up the property in Nenagh. When I was looking to buy last year, before I bought where I live, I couldn't keep up with bids on houses and was outbid all the time, these were for houses 90k plus that ended up in 100s. There was one that got away that I will always regret.

Nenagh does have a big factory too don't count it out completely! My better half works there and that's the reason we're looking to relocate there, currently in Thurles and looking to get out!

the_syco

Pinkycharm wrote: »

Once property was done up to the standard, agent said €100pw

Estate Agents shall tell you what you want to hear to get the sale, so take what they say with a pinch of salt!