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Do landlords in Ireland have it as tough as they think?

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Comments

  • #552
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    steddyeddy wrote: »
    So two people, similar properties but different investment should both make a profit. It's up to the taxpayer and government to lower taxes so the bad investment can make a profit?

    I think rather than asking a question by asking a different convoluted question (possibly nonsensical). You should say what your actually talking about.

    Two identical business do not have have to make the same profit. One person might want a slower paced business than the other.

    What you really want is price controls. But ignore the disadvantages of same.
    https://en.wikipedia.org/wiki/Price_controls


  • #553
    steddyeddy
    Registered Users, Registered Users 2 Posts: 27,564 ✭✭✭✭steddyeddy


    No. My point is that in every case LLs blame the government (high taxes) and tenants for lack of profit. What never comes up is the fact they might have made a bad investment e.g buy to let.


  • #554
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    steddyeddy wrote: »
    No. My point is that in every case LLs blsme the government (high taxes) and tenants for lack of profit. What never comes up is the fact they might have made a bad investment e.g buy to let.

    "Everycase"...:rolleyes:

    There's a lot more to it than that. You'll never have a useful dialogue about it, if you accept superficial sweeping generalisations, as being the whole story. or indeed if you don't look beyond click bait for critical analysis.

    You can run the numbers of yourself.


  • #555
    steddyeddy
    Registered Users, Registered Users 2 Posts: 27,564 ✭✭✭✭steddyeddy


    beauf wrote: »
    "Everycase"...:rolleyes:

    There's a lot more to it than that. You'll never have a useful dialogue about it, if you accept superficial sweeping generalisations, as being the whole story. or indeed if you don't look beyond click bait for critical analysis.

    You can run the numbers of yourself.

    Hmm great response. So you accept bad investments make up a percentage of lack of profit from rental properties?


  • #556
    James Brown
    Closed Accounts Posts: 16,013 ✭✭✭✭James Brown


    If you speculate on housing and lose out financially, that's unfortunate but business isn't it? If you lose your home because of it are you now a sponger looking for something for nothing?


  • #557
    steddyeddy
    Registered Users, Registered Users 2 Posts: 27,564 ✭✭✭✭steddyeddy


    Matt Barrett wrote: »
    If you speculate on housing and lose out financially, that's unfortunate but business isn't it? If you lose your home because of it are you now a sponger looking for something for nothing?

    No. It's very unfortunate but look at the LLs on Boards and their representatives on the news. It's always high taxes and rent controls that stop them making a profit. Never bad investments.


  • #558
    Taylor365
    Registered Users Posts: 2,994 ✭✭✭Taylor365


    steddyeddy wrote: »
    No. It's very unfortunate but look at the LLs on Boards and their representatives on the news. It's always high taxes and rent controls that stop them making a profit. Never bad investments.
    Every investment vehicle in Ireland has high taxes (CGT, DIRT, Dividends, Stamp duty, etc.) and feck all allowances.



    In my opinion, property isn't a feasible investment for 70% of the country. The pittance made after tax isn't worth the hassle.






    If you have access to massive leverage however.... :pac:


  • #559
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    I was in a coffee shop the other day. There was a landlord there talking about the business. He has been in letting for 30 years. He said he has never had it better. He had a drop in rents during the downturn and went into negative cashflow on some properties. Now his loans are paid down and his rents have up massively. More than double the levels of 6 years ago. Even after paying the taxes he has more left in his hand than his gross rent was 6 years ago.


  • #560
    runawaybishop
    Registered Users, Registered Users 2 Posts: 9,510 ✭✭✭runawaybishop


    steddyeddy wrote: »
    No. It's very unfortunate but look at the LLs on Boards and their representatives on the news. It's always high taxes and rent controls that stop them making a profit. Never bad investments.

    Rent controls, which limit profit, unsurprisingly limit profit. Doesn't matter how good or bad your investment is. All it means is people with less cash flow exit faster.

    When supply is massively constrained reducing it further hits renters, that is not a good thing. Frankly it doesn't matter right now how bad an investment the LL made, what matters is people can't find places to live.


  • #561
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    steddyeddy wrote: »
    Hmm great response. So you accept bad investments make up a percentage of lack of profit from rental properties?

    Leading with a strawman while ignoring what was actually said is never a good sign.

    You're asking if you lose money does that cause you not to make a profit.

    How are you defining bad investment and profit in this context. Is it negative cashflow. Is it selling the investment at a loss. It's it capital gains or loss what?

    At what point are you going to make this determination is it end of every year, 5yrs, 25yrs, end of mortgage, what if there is no mortgage.

    If someone makes 5k profit for 2yrs then gets robbed of 15k in the third year. Overall they made a loss. Would it have been better to invest at 1% or is it just unlucky to be robbed and it's actually profitable venture.

    To invest is to risk. It's a gamble. Can you make a profit without investing? Unlikely. At the minimum you have to invest your time. If you make no money your have been better investing your time into something else.


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