Buy farmland or a investment property?

eire23 · 06-11-2020 01:39PM

Tommyturf wrote: »

leaning towards land, houses are hassle and cant write tax off against it, plus the tax man has the best of any rent :rolleyes:

Only the intrest on a land load can be wrote off again tax I think. Or maybe I'm completely wrong in saying that

Grueller · 06-11-2020 01:41PM

eire23 wrote: »

Only the intrest on a land load can be wrote off again tax I think. Or maybe I'm completely wrong in saying that

Unfortunately you are correct.

Dinzee Conlee · 06-11-2020 02:25PM

Tommyturf wrote: »

leaning towards land, houses are hassle and cant write tax off against it, plus the tax man has the best of any rent :rolleyes:

Are you buying farmland to farm yourself and make money that way.
Or are you talking about buying farmland to rent out tax-free?

Mad_maxx · 06-11-2020 02:25PM

Cavanjack wrote: »

Good land in Meath can be bought for €9000 an acre.

I've cousins near kells and they tell me land in much of meath isn't remarkably expensive? , Dublin side obviously would be

I've only two acres myself ( feeds ten sheep) but I've a good bit of other kinds of property and the market in general interests me

Land in Westmeath always looks decent when I'm driving past but from newspaper reports, prices appear modest?

Big variance

awaywithyou · 06-11-2020 03:49PM

Mad_maxx wrote: »

I've cousins near kells and they tell me land in much of meath isn't remarkably expensive? , Dublin side obviously would be

I've only two acres myself ( feeds ten sheep) but I've a good bit of other kinds of property and the market in general interests me

Land in Westmeath always looks decent when I'm driving past but from newspaper reports, prices appear modest?

Big variance

Finest farm in the country Which is In Co. Meath Is up for Rent at the moment.. Finest farm with the very best of land..

Tommyturf · 06-11-2020 04:32PM

Dinzee Conlee wrote: »

Are you buying farmland to farm yourself and make money that way.
Or are you talking about buying farmland to rent out tax-free?

depends..if land was close to home id farm it myself, if not id lease it and keep it simple

Cattlepen · 06-11-2020 05:30PM

awaywithyou wrote: »

Finest farm in the country Which is In Co. Meath Is up for Rent at the moment.. Finest farm with the very best of land..

One of the finest farms in the country. There are some fantastic ranches in that neck of the woods

Cavanjack · 06-11-2020 05:52PM

awaywithyou wrote: »

Finest farm in the country Which is In Co. Meath Is up for Rent at the moment.. Finest farm with the very best of land..

Where about is it?

Panch18 · 06-11-2020 06:22PM

awaywithyou wrote: »

Finest farm in the country Which is In Co. Meath Is up for Rent at the moment.. Finest farm with the very best of land..

Cattlepen wrote: »

One of the finest farms in the country. There are some fantastic ranches in that neck of the woods

any link so we can have a gawck and some good dreams this evening?

Mooooo · 06-11-2020 06:38PM

Tommyturf wrote: »

depends..if land was close to home id farm it myself, if not id lease it and keep it simple

Have you done the figures on the return you would get for the 50k?

awaywithyou · 06-11-2020 07:00PM

Panch18 wrote: »

any link so we can have a gawck and some good dreams this evening?

Dalgan Park Navan.... there is a sort of a walkin track around the farm thats open to the public.. Great spot and i used it many many times for a walk or run in the evenings when i staying in Navan.. thats a few years ago now... sadly.. its the very best of land.. then again have any of ye ever seen a big monastery like whats its in Dalgan Park built in a bog!

https://www.daft.ie/meath/commercial-property-for-rent/agricultural-farm-land-for-rent/dowdstown-farm-navan-meath-3121156/

It is without question one of the finest farms in the country

Cavanjack · 06-11-2020 07:08PM

awaywithyou wrote: »

Dalgan Park Navan.... there is a sort of a walkin track around the farm thats open to the public.. Great spot and i used it many many times for a walk or run in the evenings when i staying in Navan.. thats a few years ago now... sadly.. its the very best of land.. then again have any of ye ever seen a big monastery like whats its in Dalgan Park built in a bog!

https://www.daft.ie/meath/commercial-property-for-rent/agricultural-farm-land-for-rent/dowdstown-farm-navan-meath-3121156/

It is without question one of the finest farms in the country

I though a big dairy/spud man had that taken this last few years.

green daries · 06-11-2020 07:19PM

Cattlepen wrote: »

Do u mind me asking you what part of the country this is in?
I had auctioneers telling me the best of Meath land in good heart and well fenced with good facilities would only make 15 k an acre

Do you mind me asking everyone in general does anyone think land is worth anything close to these figures when it is used as its intended as in agricultural use of whatever type the farmers is involved in

Panch18 · 06-11-2020 07:31PM

awaywithyou wrote: »

Dalgan Park Navan.... there is a sort of a walkin track around the farm thats open to the public.. Great spot and i used it many many times for a walk or run in the evenings when i staying in Navan.. thats a few years ago now... sadly.. its the very best of land.. then again have any of ye ever seen a big monastery like whats its in Dalgan Park built in a bog!

https://www.daft.ie/meath/commercial-property-for-rent/agricultural-farm-land-for-rent/dowdstown-farm-navan-meath-3121156/

It is without question one of the finest farms in the country

smashing place - very few places like that in the country

the owner will get a nice income from it - nearly 150k for rent and SFP - 40k of which is tax free - worse ways to make a living!!!

Mooooo · 06-11-2020 08:39PM

Are the facilities there to stock it without having to add more. 300 an acre + sfp. Wouldn't be quick to go for it tbh. The rent would buy 200+ acres

Tileman · 06-11-2020 08:50PM

Panch18 wrote: »

smashing place - very few places like that in the country

the owner will get a nice income from it - nearly 150k for rent and SFP - 40k of which is tax free - worse ways to make a living!!!

Think if I had that sort of money I’d be buying me own land and not lining sone one else pocket.

Donald Trump · 06-11-2020 09:53PM

Tileman wrote: »

Think if I had that sort of money I’d be buying me own land and not lining sone one else pocket.

If the timing suited you in terms of you were just about to expand up anyway it might be well worth shifting over there and putting in 15 years hard work.

Seems already set up with 330 cubicles etc.

I wonder how they'd work it though in terms of repairs etc. I'd assume it's on some kind of "do whatever you want with it but we need it back in the same condition" kind of thing.

Plenty of lads the last few years with no experience at anything dairying getting loans for hundreds of thousands to jump blindly into it headfirst. Might be better off heading over there for the 15 years, building up your herd at the start, save up your money and then spend the last few years getting your own place ready to move back. That might have included either buying up a bit or building up a bit.

Or just do the 15 years and then retire!

Donald Trump · 06-11-2020 10:08PM

Mooooo wrote: »

Are the facilities there to stock it without having to add more. 300 an acre + sfp. Wouldn't be quick to go for it tbh. The rent would buy 200+ acres

As for the rent buying 200 acres of land ........ don't forget the tax! You're 120k a year becomes more like 60k a year in order for it to hit your pocket which is where you need to take it from in order to buy land.

60k a year for 15 years = 900k.

If you want to take interest rates into account (suppose 3% net of tax), then if you started with a debt of 678k and wanted to pay it back over 15 years then you'd be paying 60k a year.

Of course in the latter you'd have the asset at the end of it. You'd maybe pick up 60 acres on average. But you aren't going to make that 120k a year profit from your 60 acres to pay for it. Not unless you are growing special flavours for Keoghs crisps on it! If you rented the ready-to-go place and ran it properly, you might have a chunk at the end of it to go off and buy somewhere

older by the day · 06-11-2020 10:19PM

I suppose if we think about it, let out payments. How many years would it take to pay back 10000 an acre. You can rule out beef and suckling and unless you can graze the dairy cow on it that's a long shot too. So it's investing money you have really

awaywithyou · 06-11-2020 10:36PM

Donald Trump wrote: »

As for the rent buying 200 acres of land ........ don't forget the tax! You're 120k a year becomes more like 60k a year in order for it to hit your pocket which is where you need to take it from in order to buy land.

60k a year for 15 years = 900k.

If you want to take interest rates into account (suppose 3% net of tax), then if you started with a debt of 678k and wanted to pay it back over 15 years then you'd be paying 60k a year.

Of course in the latter you'd have the asset at the end of it. You'd maybe pick up 60 acres on average. But you aren't going to make that 120k a year profit from your 60 acres to pay for it. Not unless you are growing special flavours for Keoghs crisps on it! If you rented the ready-to-go place and ran it properly, you might have a chunk at the end of it to go off and buy somewhere

looks like you'll have plenty of spare time on your hands come the 1st Feb so we might see you pulling tits in Navan yet...

06-11-2020 10:43PM

Do you have a pension otherwise?
Kids who might be going away to college in the future?

Land is great but hard to convert back into cash easily.

Donald Trump · 06-11-2020 10:45PM

awaywithyou wrote: »

looks like you'll have plenty of spare time on your hands come the 1st Feb so we might see you pulling tits in Navan yet...

Wouldn't be the first time. When you are famous they let you do it

Donald Trump · 06-11-2020 10:48PM

Tommyturf wrote: »

hi all,

very much part time farming at the minute (grass to beef), circa 50k to invest (doing nothing in bank at min), whats your opinion on the above two? full time paye worker. cheers

You could always just keep at the beef for a few more years until the 50k runs out ...........

Like the old joke on what is the best way to become a millionaire farmer?
Start with 2 million

JohnnyKq · 13-12-2020 05:51PM

Donald Trump wrote: »

You could always just keep at the beef for a few more years until the 50k runs out ...........

Like the old joke on what is the best way to become a millionaire farmer?
Start with 2 million

With interest rates rock bottom and only likely to drop in the next year or so the stockmarket is likely to keep going.
With brexit shambles lingering on next week could be a decent buying opportunity to diversify all your eggs from the farm

Donald Trump · 13-12-2020 06:37PM

JohnnyKq wrote: »

With interest rates rock bottom and only likely to drop in the next year or so the stockmarket is likely to keep going.

Now, there is some logic to your statement on European markets. But it is not guaranteed at all. Your statement would be true in an "all-else-equal" scenario.

For example, rates have been low in Japan for a long time. There have been negative rates in the market there for much of the last decade. The government there have been struggling to control deflation.

The Nikkei did take a jump of 11% there in November......And that was the first time it breached it's previous high water mark which was set in .............. 1991

JohnnyKq · 18-12-2020 08:16PM

Donald Trump wrote: »

Now, there is some logic to your statement on European markets. But it is not guaranteed at all. Your statement would be true in an "all-else-equal" scenario.

For example, rates have been low in Japan for a long time. There have been negative rates in the market there for much of the last decade. The government there have been struggling to control deflation.

The Nikkei did take a jump of 11% there in November......And that was the first time it breached it's previous high water mark which was set in .............. 1991

Agreed. Im assuming that Japan lost decade was a move out of the country and at a time when worldwide interest rates were high? Where we are today is worldwide nil and when an investment is returning minus if its in cash who will leave money in cash?
For Ireland the only investment right now is the shiny New VW Golf or the stockmarket

Dickie10 · 22-12-2020 10:39PM

awaywithyou wrote: »

Dalgan Park Navan.... there is a sort of a walkin track around the farm thats open to the public.. Great spot and i used it many many times for a walk or run in the evenings when i staying in Navan.. thats a few years ago now... sadly.. its the very best of land.. then again have any of ye ever seen a big monastery like whats its in Dalgan Park built in a bog!

https://www.daft.ie/meath/commercial-property-for-rent/agricultural-farm-land-for-rent/dowdstown-farm-navan-meath-3121156/

It is without question one of the finest farms in the country

Thats the Columban fathers place, the Meath team used to train there in Sean Boylan era during summer, fans would go in and watch before leinster finals and all ireland finals, fantastic buzz that time. I remember being interviewed by the late Com Murray their for RTE sports news in August 1996 before Meath V Tyrone All Ireland Semi Final, i think I replied to his question would meath win on sunday, saying "Ah i dont think so were a bit young of a team for being able for Tyrone" , needless to say the negative Meath 12 year old fan didnt make the editing cut! So glad I was very wrong!

Dickie10 · 22-12-2020 10:47PM

Around me in south western Meath ,like i said before I am trying to save money as theres a huge amount of big farms not being farmed by there families, all set out some massive places. The reasons are some were smaller 100 -150 acre tillage farms that the owners were fed up of struggling harvests on a small scale, some poor investments of tillage men and some just too big of holdings being farmed haphazardly and extensivley and the next generation never bothered with what they seen as hardship. Its not very hard to make a few quid on land aroud here when you have the acerage some of these had, when cattle and tillage were good but these days you cant do that and hope to pull 50k profit in each year, so most throw it out for letting, the sons dont want to know about it. I think i mentioned before how poor the farming and love of land culture is in this area compared to other places i have seen or lads from other spots i met in g College. seems a recurring theme across a lot of north kildare too from lads i know around maynooth. an example would be very few of the local rural GAA teams would have lads farming or anyway interested in farming, like they could be from farms but not hold a conversation of any description about farming. so id say if your in the right know , you might not have to pay that much for savage land around this part of meath

awaywithyou · 22-12-2020 11:11PM

Dickie10 wrote: »

Around me in south western Meath ,like i said before I am trying to save money as theres a huge amount of big farms not being farmed by there families, all set out some massive places. The reasons are some were smaller 100 -150 acre tillage farms that the owners were fed up of struggling harvests on a small scale, some poor investments of tillage men and some just too big of holdings being farmed haphazardly and extensivley and the next generation never bothered with what they seen as hardship. Its not very hard to make a few quid on land aroud here when you have the acerage some of these had, when cattle and tillage were good but these days you cant do that and hope to pull 50k profit in each year, so most throw it out for letting, the sons dont want to know about it. I think i mentioned before how poor the farming and love of land culture is in this area compared to other places i have seen or lads from other spots i met in g College. seems a recurring theme across a lot of north kildare too from lads i know around maynooth. an example would be very few of the local rural GAA teams would have lads farming or anyway interested in farming, like they could be from farms but not hold a conversation of any description about farming. so id say if your in the right know , you might not have to pay that much for savage land around this part of meath

take it your around Killyon area..... towards kinnegad... not being smart but the land around there wouldnt be as good as over around duleek or platin... or out the dublin road from Trim.... some fine land there.. i think in Meath ye have so much good land ye dont have the same respect for it as say we do here in kerry... where there are only pockets of good land... in Meath its the other way around.. that was my reading of it anyway from my time there

JohnnyKq · 22-12-2020 11:21PM

awaywithyou wrote: »

take it your around Killyon area..... towards kinnegad... not being smart but the land around there wouldnt be as good as over around duleek or platin... or out the dublin road from Trim.... some fine land there.. i think in Meath ye have so much good land ye dont have the same respect for it as say we do here in kerry... where there are only pockets of good land... in Meath its the other way around.. that was my reading of it anyway from my time there

The best part of Kerry land is the grand slope it has to help water run off quickly in these wet winter times!

Buy farmland or a investment property?

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