Anyone sold lately - what to do with money

windmilllane

Maybe this should be in different section but I'd love to hear from other landlords who have sold or are thinking of doing so and what plans you have for cash.

For a variety of reasons we are thinking of selling but need to have nest egg for college (not for 15 years). The house was going to be nest egg but I'm not sure I'd survive being a landlord for that length to just looking for advice. Thanks, we would hope to have about €100k after paying mortgage etc. Thank you

koheim

We are in the same situation. 14 years left on mortgage, current equity 90K. Eldest to (hopefully) start college in 12 years.
In 14 years time the property would be worth around 290K, factoring in a 2,5 inflation per year. I doubt very much that any investment would potentially yield 200K in 14 years, so we have decided that being a landlord is worth the hassle..

Samuel T. Cogley

Would it maybe worth asking in the investment forum. Seems asking here would yeild more about property which is the thing you want to get out of.

Not encouraging you to start a new thread I think that's frowned upon but maybe move this one?

koheim wrote: »

We are in the same situation. 14 years left on mortgage, current equity 90K. Eldest to (hopefully) start college in 12 years.
In 14 years time the property would be worth around 290K, factoring in a 2,5 inflation per year. I doubt very much that any investment would potentially yield 200K in 14 years, so we have decided that being a landlord is worth the hassle..

No entirely sure thats how it works...

mickmac76

Try the askaboutmoney.com forum. It's an Irish forum dedicated to financial issues and is very active. Have a look at the money makeover section of the forum for ideas from people.

big syke

koheim wrote: »

We are in the same situation. 14 years left on mortgage, current equity 90K. Eldest to (hopefully) start college in 12 years.
In 14 years time the property would could be worth around 290K, factoring in a 2,5 inflation per year. I doubt very much that any investment would potentially yield 200K in 14 years, so we have decided that being a landlord is worth the hassle..

What is your property worth now?

Inflation is currently around 0% what makes you think it will be at 2.5% and remain at that level to yield your figures above? History suggests this is unlikely.

Yield is also only one small item to factor in when becoming a private landlord given all the new and potential legislation.

The_Conductor

windmilllane wrote: »

Maybe this should be in different section but I'd love to hear from other landlords who have sold or are thinking of doing so and what plans you have for cash.

For a variety of reasons we are thinking of selling but need to have nest egg for college (not for 15 years). The house was going to be nest egg but I'm not sure I'd survive being a landlord for that length to just looking for advice. Thanks, we would hope to have about €100k after paying mortgage etc. Thank you

Unit linked funds with a 10 year maturity date?
I got a reasonable rate on a few forestry funds- mind you I didn't have 100k on hand.........
Your quandry is highlighting a serious issue though- there really is a dearth of opportunities for investment at the moment- not helped by the artificially low interest rates.
You could always move out of residential lettings- and go commercial instead? Even small towns have units which come up occasionally- pharmacies, grocery chains- or even McDonalds or other franchise holders- who are renting their premises. Its an option- and a damn sight easier on your stress levels, than a residential letting- but you do need to know what you're doing.