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Queston about Property Investing - Is it that time again ???

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Comments

  • #32
    Blackjack
    Registered Users, Registered Users 2 Posts: 3,657 ✭✭✭Blackjack


    pocketdooz wrote: »
    I know - it's a wreck the head. I thought it was only the amount above the €10 k you paid tax on but apparantly it's the whole lot.

    Does anyone know any (legal) way around this ?

    Anyone any suggestions for how this could work ?

    Thanks
    Only way I could think of is keep the total you collect below 10K. Its' not a bad deal in fairness, its 833 if you charge by the month, or just under 200 a week. You could charge them 200 a week and let them off the amount for Christmas and New year to keep it at that amount.

    It's an extra 100 a month for you to pay based on your projections, but if you get the right tenants in (and you will be able to pick and have plenty of applicants at that price) it will give you a bit of peace of mind about leaving the house for a weekend. That in itself is worth the money in my book.
    If you had friends that were looking for a room this may suit them also.


  • #33
    pocketdooz
    Registered Users, Registered Users 2 Posts: 1,559 ✭✭✭pocketdooz


    Blackjack wrote: »
    Only way I could think of is keep the total you collect below 10K. Its' not a bad deal in fairness, its 833 if you charge by the month, or just under 200 a week. You could charge them 200 a week and let them off the amount for Christmas and New year to keep it at that amount.

    It's an extra 100 a month for you to pay based on your projections, but if you get the right tenants in (and you will be able to pick and have plenty of applicants at that price) it will give you a bit of peace of mind about leaving the house for a weekend. That in itself is worth the money in my book.
    If you had friends that were looking for a room this may suit them also.


    Thanks for the idea - surely 100 a week for a room in town would be too much of a bargain ????

    I was kind of thinking about renting to country people that might just want to rent from Monday til Friday thus giving me the weekends in the house free OR renting to students (masters or PHD or somthing, not students proper) so the place'd be all mine in the summer ???


  • #34
    Blackjack
    Registered Users, Registered Users 2 Posts: 3,657 ✭✭✭Blackjack


    pocketdooz wrote: »
    Thanks for the idea - surely 100 a week for a room in town would be too much of a bargain ????

    I was kind of thinking about renting to country people that might just want to rent from Monday til Friday thus giving me the weekends in the house free OR renting to students (masters or PHD or somthing, not students proper) so the place'd be all mine in the summer ???

    Not really. Depends on the size of the room and the house. Factor in their share of the bills and someones probably paying somewhere in the region of 450-500 a month.
    That said, get in the right tenant that pays on time, does not wreck the place and respects your privacy as well as you respecting theirs, and it will be worth it.


  • #35
    rugbyman
    Registered Users, Registered Users 2 Posts: 1,786 ✭✭✭rugbyman


    hey, you two Pocketdooz and Stepbar are all palsy walsy now. glad the civil war over on the bank of ireland thread is over:

    oops, i should be reading,not writing


  • #36
    BarrierReef
    Closed Accounts Posts: 68 ✭✭BarrierReef


    Pocketdooz buy the house, you seem to like it and it is close to work etc... Of course do your numbers carefully to ensure you can afford it, In 10 years will it be worth more than it is now ?? Probably would be my guess.

    Buying a house to live in isn't all about making the best financial decision. I bought one house last year at the absolute peak in Ranelagh, Is it worth more or less than I bought it for ?? I don't really care, I am about to spend alot of cash extending it to move into for at least 5 years, I love the house and area and can just about afford to live there, so I am going to.

    I also have a couple of other houses around the city which the ass has fallen out off and I would like to sell on but can't, but there is still strong demand for rental in properties which can house families, I rented one two weeks ago in 1 day and could have rented it 5 times over.

    One last thing, I think that there is alot of people just like you wondering when is the right time to get back onto the ladder, just remember don't all jump at once.


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  • #37
    maninasia
    Registered Users, Registered Users 2 Posts: 4,635 ✭✭✭maninasia


    Why isn't it about making the best financial decision. If you don't have the money for 3 houses and it's going to cost you 20/30/40 years mortgage it should be the best financial decision you ever made!
    Pocketdoor, you are doing some wishful thinking. Almost all masters/PhD students continue working through the summers just like regular workers.
    If you want hassle and trouble for at least 10 years by all means for a risky investment by all means go ahead...


  • #38
    pocketdooz
    Registered Users, Registered Users 2 Posts: 1,559 ✭✭✭pocketdooz


    There was a report by Goodbody today in the Irish Times that house prices could drop by 30% from their peak and have dropped already by 12%

    but . . .

    According to the Central Statistics Office (www.cso.ie) :

    The average second-hand house price in Dublin in Quarter 3 of 2006 was €549,330

    The average second-hand house price in Dublin in Quarter 2 of 2008 was €430,410 (taking quarter 4, 07 figure and discounting by 7%, the average figure quoted as being 2008's drop so far)

    If the inflation rate is 4% then this is a 'real' reduction in house prices of just under 28% in the past two years. eek.gif (€594,155 to €430,409).

    . . . .


    These figures would only be up until June too so I'd say we've seen a further drop over the summer.

    So, are Goodbody getting their figures from somewhere else ?

    Where do they get the figure "already declined 12% from peak levels".







    .


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