You’d get better value in the apartment market in Limerick mate.
90k to buy now…800 rent per month that’s a no brainer if you have the spare cash…I got my deposit back when I left the apartment I was in from an American bank.
They probably got it off a Nama sale for 50k as a distressed property as the landlord went bankrupt.
In Dublin maybe mate, but if you’ve money in Limerick…there’s a massive yield there for investors.
Its not an investment property I’m looking at, but if things went tits up I’d be able to rent it out easily if you get me. Could maybe get 900 a month on it but renting it out wouldn’t be initial aim. Repayments would be less than 800 a month anyway. What way would they tax you on the rental income? Upper rate 40%?
I think its taxed as your normal income
Taxman would be taking a pile of it so. 900 a month but at 40% meaning taxman gets 360 a month of it. 540 a month after tax into the pocket wouldn’t cover the mortgage.
You’ll right off most of your rental expenses such as mortgage interest, repairs, insurance etc.
There’s ways around that mate…
That doesn’t add up. Any property that can be rented out for 800 or over would be worth more than 200k.
There are deductions that can be put against it but the tax fucks you up. You could do a Mac on it but if caught your screwed
Letting it out to escorts is not advisable.
You’re wrong there mate.[quote=“Ambrose_McNulty, post:1288, topic:19965, full:true”]
That doesn’t add up. Any property that can be rented out for 800 or over would be worth more than 200k.
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I can assure you this is correct. Its 145k and you’ll get 800 a month minimum. They’d be queueing up for it. That’s Limerick citaay kid.
Where is the house?
Not being smart…but the address is crucial.
Well I’m not going to tell you that now am I. “Yeah my address is 14…”
Where in Limerick would you get a house for 145 outside of Moyross and South hill? Mate at work is trying to buy a house for the last 2 years around caherdavin, clareview, Raheen etc. They all start at around 160 but bidding finishes at 210 and up.
I was asking for the general area mate…but here good luck regardless.
You’d get plenty of houses across the city for 145…probably have to do it up etc…but you’re way off the mark if you think anyone would pay that for a house in Southill or Moyross.
40-60k would be max there.
Plus you’d have to be from the area in reality.
Selection of properties on daft now @Ambrose_McNulty
Would’nt buy them mind but they’re within that price range.
http://www.daft.ie/limerick-city/property-for-sale/limerick-city-centre/?s[mxp]=150000
The point I’m making is, that if you’re bidding on a house with a reserve of 150 in limerick it will be sold for 200+.
East of the city. Nice area.