Good areas in Ireland for an investment property

Mad_maxx

Fred Cryton wrote: »

I'd go for Maynooth / North Kildare area. Intel investing massively and hiring thousands, the university expanding and dire shortage of stuent accomodation. Maynooth town itself is very prosperous and desirable for commuting.

all true except there is no hidden value in Maynooth or anywhere in Kildare

Mad_maxx

Claw Hammer wrote: »

Joe Duffy Motors in Monksland to Church St in Athlone is 4.4km. It is an hours walk. It would be a ridiculuos place to buy an investment property.
The only place to buy an investment property is near where you live and if in Dublin, as close to the city centre as possible.

Dooradoyle is about that distance from O connell st in Limerick , would you consider Dooradoyle to be not part of Limerick or Corbally which some of is technically in County Clare ?

Pussyhands

JimmyVik wrote: »

I hate to be the one to say it
But Jesus this is all eerily familiar talk.

The show will go on this time.

Ending it will lead to catastrophic damage...2008 would look like a party.

We're now addicted to low interest rates.

If governments could go back in time, they'd have done anything to keep the party going back then. They won't let it happen this time.

Pussyhands

handlemaster wrote: »

Holiday homes are not a good investment. What you are suggesting is alot of work. Council won't rent for a few months. Another thread on here some one rented there house
For a few months and the tenant refused to move out. What would you do then ?

A car full of mates and new locks.

Wanderer78

Pussyhands wrote: »

The show will go on this time.

Ending it will lead to catastrophic damage...2008 would look like a party.

We're now addicted to low interest rates.

If governments could go back in time, they'd have done anything to keep the party going back then. They won't let it happen this time.

low rates are only one element of this issue, it always important to remember, the majority of the money supply for the previous boom came from the private sector in the form of credit, our government is trying its best to recreate this situation

Pussyhands

Bargains

https://www.daft.ie/property-for-sale/castlebar-mayo?saleType=auction

Claw Hammer

Mad_maxx wrote: »

Dooradoyle is about that distance from O connell st in Limerick , would you consider Dooradoyle to be not part of Limerick or Corbally which some of is technically in County Clare ?

Limerick is a City. Athlone is a town and not even a county town.

JimmyVik

Pussyhands wrote: »

Bargains

https://www.daft.ie/property-for-sale/castlebar-mayo?saleType=auction

Is it just me o does everyone just say next, when they come across a place with "estate" as part of the name. Unless its a stately home of course

Mad_maxx

Claw Hammer wrote: »

Limerick is a City. Athlone is a town and not even a county town.

So what ?

It's a strategically important town

beauf

Mad_maxx wrote: »

So what ?

The county town of Kildare is an irrelevance compared to maynooth or celbridge

There's really only inside or outside of Dublin. Everything else is an irrelevance.

That said if you have local knowledge you might be able to find something with potential away from the cities.

Mad_maxx

beauf wrote: »

There's really only inside or outside of Dublin. Everything else is an irrelevance.

Athlone isn't special but saying Monksland is " miles from Athlone town centre is just geographical and economic ignorance

It's no different than Johnstown and Navan only Monksland has better employment than johnstown, everyone in johnstown considers themselves to be effectively in Navan

AndrewJRenko

brenno1 wrote: »

Hi all.
After years of saving hard I will be looking to buy an investment property at around the 150k to 170k mark max early next year as a cash buyer; i dont want any mortgage debt on the property. Ideally a 1 or 2 bed apartment/duplex with minimal maintenance. And happy to consider renting to government on long term rental scheme.

This is my first time doing such a venture and i want to see if anyone has any experience in this and generally what part of the country they would consider a relatively safe bet (in terms of protecting the capital, a decent rental return €1,100 to €1,200 pm and bouyant rental market).

Within my price range I see plenty of properties in the following areas that I would like investment opinion on;

Drogheda

Balbriggan-this one seems v topical?v cheap for a reason?

Ballyfermot-i understand has one the best returns in the country?

Clondalkin

Citywest

Finglas

Tallaght

Limerick

Waterford

Maybe there are other areas I am missing that could be relatively decent value that people have knowledge on?

If you're sure that you want to break basic rules around diversification of investments to minimise risk, I can only suggest that you find a location that is reasonably close to your home, so you avoid spending lots of time and money on travel.

JimmyVik

Wanderer78 wrote: »

low rates are only one element of this issue, it always important to remember, the majority of the money supply for the previous boom came from the private sector in the form of credit, our government is trying its best to recreate this situation

This time though our government are using tax payers money to inflate the property market.

Bowlardo

lob you money in to bitcoin it would be handier and less hassle

Wanderer78

JimmyVik wrote: »

This time though our government are using tax payers money to inflate the property market.

...and still encouraging private sector financial institution involvement in the process

Claw Hammer

Mad_maxx wrote: »

So what ?

It's a strategically important town

Strategically important my ass. It has no hospital nor a police headquarters. Its 2 main Army headquarters were closed. There are plans to build 1,000 homes on the east side of Athlone which will swamp the rental market there for years. It is a tiny town to have such expansion. All it takes is a major employer to close and the whole region goes into a tailspin.
The best way to invest is by rent per square foot. It costs more to maintain a big property than a small one.

Mad_maxx

Claw Hammer wrote: »

Strategically important my ass. It has no hospital nor a police headquarters. Its 2 main Army headquarters were closed. There are plans to build 1,000 homes on the east side of Athlone which will swamp the rental market there for years. It is a tiny town to have such expansion. All it takes is a major employer to close and the whole region goes into a tailspin.
The best way to invest is by rent per square foot. It costs more to maintain a big property than a small one.

So what if it doesn't have a hospital? , we need less hospitals but better ones

Cal4567

I feel like I am in a 2001/02 time warp reading this thread. Do come back in a year or 3 and tell us how you are getting on.

I wouldn't myself, but I am of an age and experience to see many rush into this with blinkers, forgetting the obvious. That's its not just you making money, but you have a responsibility as a landlord. Go and seek out other landlords, particularly those who have been landlords for a number of years or have you already done that?

Bass Reeves

Even though you're a cash buyer op yield is nearly more important than capital appreciation. There will be up and down's like any business. If you intent this to be the first investment of a few try to invest in an area you can continue to invest in. Yield allows you to reinvest. If you are happy with your first investment in 3-5 years time you may decide to leaverage it to buy a second property. Using agencies is expensive to rent and manage a property for you. That why near is often better. By near I do not mean next door to you but within 30-40 minutes traveling time

It important like any other business that you can keep costs low. That means if you are handy you can carry out certain repairs and paint house between tenants.

Tenants are more appreciative now than 3-5years ago. A good tenant is worth 100 euro a month. Often such tenants will do a bit of repainting if you buy the paint and equipment.

Costs are often more than you think but being handy can cut costs a lot. A cleaner tidier house attracts more tenants so you have more choice. Remember in general you will not be renting to people similar to yourself

Wanderer78

Cal4567 wrote: »

I feel like I am in a 2001/02 time warp reading this thread. Do come back in a year or 3 and tell us how you are getting on.

I wouldn't myself, but I am of an age and experience to see many rush into this with blinkers, forgetting the obvious. That's its not just you making money, but you have a responsibility as a landlord. Go and seek out other landlords, particularly those who have been landlords for a number of years or have you already done that?

only that things are far more dysfunctional

Claw Hammer

Mad_maxx wrote: »

So what if it doesn't have a hospital? , we need less hospitals but better ones

Lack of a hospital is indicative of a lack of strategic importance, however many hospitals are needed. Monkstown will be at the tail end of any capital or rental growth in that region and the first to drop in a recession.

Mad_maxx

Claw Hammer wrote: »

Lack of a hospital is indicative of a lack of strategic importance, however many hospitals are needed. Monkstown will be at the tail end of any capital or rental growth in that region and the first to drop in a recession.

'Monkstown " is in South Dublin

Claw Hammer

Mad_maxx wrote: »

'Monkstown " is in South Dublin

Also cork!

Mad_maxx

Claw Hammer wrote: »

Also cork!

Stop hitting yourself over the head with that Hammer

Claw Hammer

Mad_maxx wrote: »

Stop hitting yourself over the head with that Hammer

You are no one to talk!

beauf

Claw Hammer wrote: »

Lack of a hospital is indicative of a lack of strategic importance, however many hospitals are needed. Monkstown will be at the tail end of any capital or rental growth in that region and the first to drop in a recession.

There is the rub. Pay over the odds in Dublin or a city. Or buy at lower price but somewhere more remote. With the risk it could get abandoned. Which was very common after the last crash.

Mad_maxx

Claw Hammer wrote: »

You are no one to talk!

least i know where Monkstown is not

Bass Reeves

beauf wrote: »

There is the rub. Pay over the odds in Dublin or a city. Or buy at lower price but somewhere more remote. With the risk it could get abandoned. Which was very common after the last crash.

House prices in a lot of smaller towns and villages are only at or below building costs. There has been houses build in a lot of rural Ireland for the last 12 years. In the three villages near me there has only been two group of houses build. Both in the one village. One. is a group of 5 houses build by a small builder the other are about 10-12 houses in a social and affordable development. I could pick another. In the next group of 6-8 villages and townes in an area around there is only houses being build in one and that is 7-8 mike's from Limerick City center.

Darc19

Biggest problem is not finding an area, it is agents not calling back and even when you email them saying you are buying as an investment you get a copy and paste response asking for loan approval documents.

And then you have the agents not taking property off websites when sale agreed, so more time wasting.

But worst was one agent who responded and said that unless the offer is €30k over the asking price, it would not be accepted.

Fukin shower of sh1tes.



Back to looking at the auctions and I for one won't be bothering with agents and their attitudes

handlemaster

Darc19 wrote: »

Biggest problem is not finding an area, it is agents not calling back and even when you email them saying you are buying as an investment you get a copy and paste response asking for loan approval documents.

And then you have the agents not taking property off websites when sale agreed, so more time wasting.

But worst was one agent who responded and said that unless the offer is €30k over the asking price, it would not be accepted.

Fukin shower of sh1tes.



Back to looking at the auctions and I for one won't be bothering with agents and their attitudes

Auctions are can be a con also, price put unrealistically low. Lots of bidders pay to register then the selling price is no where near the reserve price.