Irish Property Market chat II - *read mod note post #1 before posting*

Ray Palmer

https://www.boards.ie/discussion/comment/123496780#Comment_123496780

How much do you think estate agent fees are? Lawyers for sale and purchase? You forgot that completely. Remember you said they could sell it after a year. DIRT is lower than the tax paid on rent which is more than 50% and for most pay 52% but higher for some if self employed. BTL interests are higher.

It actually does require work to up the rent, people don't just give it to you. You are relying on the property prices going up again which is not a certainty. If prices dropped 10% how long to get a return.

You are now saying the investor really has to wait 25 years before they make money. Increase in asset is not making a profit unless sold. I can guarantee renting that place out will involve a lot of work with tenant issues. Domestic abuse, drugs, failure to pay rent etc…

Rocket_GD

https://www.boards.ie/discussion/comment/123496958#Comment_123496958

For a landlord you have a really poor outlook on renters, "I can guarantee renting that place out will involve a lot of work with tenant issues. Domestic abuse, drugs, failure to pay rent etc…" you cannot guarantee anything of the sort.

You're not quite as balanced as you claim to be.

Ray Palmer

https://www.boards.ie/discussion/comment/123496885#Comment_123496885

Extremely rough. There is no way the rent would always be paid. It isn't really an 8% yield due to taxes and expenses and the rent is capped. Much better investments out there. Given the property is so old there are bound to be high maintenance costs and some large works required while own.

I manage a property that was not dissimilar and it was hell until I made it a higher spec and replaced the tenants

Ray Palmer

https://www.boards.ie/discussion/comment/123496990#Comment_123496990

I have over 30 years experience renting to people and know Dublin very well. In a house like that I can certainly guarantee it having managed a similar property. There are pictures with a bong in the place so drugs is certain. These people living there knew somebody was going to take pictures and look at the state they left it in. It is basically Summer Hill and probably all HAP. People do not make sure all their documents are in order and the rent stops all the time with certain HAP recipients

Rocket_GD

https://www.boards.ie/discussion/comment/123497099#Comment_123497099

You're making a sweeping generalisation, weren't you annoyed when people did that about landlords?

You've gone from guaranteeing it to "certainly guarantee" which is completely impossible to do with no evidence whatsoever bar a general bias.

rob316

I swear I heard some indie TD on the radio this morning advocating for 100% mortgages. The greed never ends

cute geoge

https://www.boards.ie/discussion/comment/123497099#Comment_123497099

Well i suppose it probably would not be for sale if rent was rolling in ,might be impossable to move on the tenants as well.I see where county counci advise tenants now to overhold their stay when its time to move on and everything done above board!!

Ray Palmer

https://www.boards.ie/discussion/comment/123497119#Comment_123497119

not sweeping as it relates to a specific low rent property in a rough area with illustrative pictures of how they live. There is 2 bongs in one place. If you can’t see the difference not my problem