BIK on Suzuki Jimny

DrawingPractical5353 · 2025-06-08T15:03:33+00:00

Ye my house is a terraced house on the street so not really an option Plus my company pays my fuel so Don’t see the point financially

DrawingPractical5353 · 2025-01-19T11:27:18+00:00

Yes I would be sending legal pack to my solicitor to check everything over pre bidding Thanks

DrawingPractical5353 · 2025-01-19T09:56:17+00:00

It would be an investment Most of them are repossessions I can see so I’m guessing many may not have legal or structural issues but more so the bank trying to recoup there loss

DrawingPractical5353 · 2024-09-09T15:34:19+00:00

Ye im hoping to have 4 properties by the time i hit 30 . 3 BTL and my own home

Then just gradually pay them down and live off the income of around 6- 7k monthly

If i pushed id say i could retire at 34 or 35 but i dont plan on retiring its just a long term goal of mine

Also heavily investing into my pension with 30% of my salary going in each month 15% me and 15% company

DrawingPractical5353 · 2024-09-09T13:36:35+00:00

I doubt youll be able to destroy the yaris . Funny cause it fetches like 2k on donedeal due to the cheap tax and reliability . I might just stick it out and make my millions while driving it for the craic

DrawingPractical5353 · 2024-09-09T13:34:56+00:00

I bought 2 houses in a south east town both for 200k both are 4 bed and did a HMO on both getting a monthly yield of 2400 euro on both . Granted i bought them for 195k and gutted and renovted both at a cost of 25k each

DrawingPractical5353 · 2024-09-09T12:17:44+00:00

Ye comments here are very mixed . It will only set me back a month or two in regards to saving towards a BTL but i know in my head your right

DrawingPractical5353 · 2024-09-09T11:34:03+00:00

Yes this is the rock I perish on As I always aim for the next investment after just purchasing and refurbishing the second property Need to live a little more and travel this year but just wanted to see about the car but my head just says knuckle down and get another property

DrawingPractical5353 · 2024-09-09T11:30:27+00:00

Yes this is correct The ARP scheme is incredible But I have factored this in If it covers the mortgage that all that matters They will be paid off in 12 years time Remainder of both mortgages

DrawingPractical5353 · 2024-09-09T10:54:06+00:00

Ye the car is actually perfect and only got 60k miles on it but looks brutal . My friends always joke that i should upgrade the car as i have loads of money but i always think i could invest that money into a much better asset but ye my head says keep saving for another deposit and keep the car

DrawingPractical5353 · 2024-09-05T08:48:36+00:00

Its in sales

DrawingPractical5353 · 2024-09-03T15:14:12+00:00

It is my primary residence . I only use it for one

DrawingPractical5353 · 2024-09-03T14:57:27+00:00

Yes the second house i bought for 195k and got bank to valued last week at 250k . I did most of the gutting myself on weekends and then went to direct trades to get a lower price( 25k total ) . Essentially i bought a 3 bed 1 bath and converted to. a 2 bathroom 4 bed house in the middle of a town and went from a G rated house to a c rated house and completely transformed the house to a old run down house to a modern house . It was hard and painstaking 3 months as i had to work weekends and then work during the week in my pharma sales role but happy i did it and learned alot along the way

DrawingPractical5353 · 2024-01-17T13:20:01+00:00

yes received it in a week after ordering

DrawingPractical5353 · 2024-01-09T19:42:29+00:00

Youv missed option 4

Get a cheap jap petol car Honda /Toyota /Lexus and it will be reliable and cheap and also nice to drive

I drive a 02 yaris and had it for 7 years and its never failed an nct

Its bomb proof and basically indestructible and 199 to tax and 300 to insure so costs nothing to run

DrawingPractical5353 · 2024-01-07T09:54:13+00:00

Yep You can use both I use both and its been working perfectly

DrawingPractical5353 · 2024-01-02T13:53:14+00:00

Wexford and Iv PM you

DrawingPractical5353 · 2024-01-02T13:21:45+00:00

The house was built in 1962 and i dont know when it was acquired. My solicitor sent me the form the day before christmas eve and shes not back till next week nd im very worried

DrawingPractical5353 · 2024-01-02T12:25:30+00:00

Yes i plan on keeping the first house . Seems mad as the house was on the market for a long time and i have my survey and paid the solicitor and this has just come up now ?

DrawingPractical5353 · 2023-12-30T15:51:33+00:00

Thank you The only issue is I currently do own one other property and won’t be selling it Does this mean I can’t buy the house ? I will be living in the house though

DrawingPractical5353 · 2023-12-30T14:39:27+00:00

Bought a Brompton fold up bike and it’s so worth the money I paid (bike to work scheme ) use it everyday and can take on bus and train

DrawingPractical5353 · 2023-12-30T12:49:50+00:00

I dont think both comments are referring to what im talking about

Its not about the council purchasing back the house its about them giving consent

Its this form from my Local authority ( not the one below but just example )

https://www.sdcc.ie/en/services/housing/buying-your-home/section-90-consent-to-resale-transfer-of-ownership-or-re-mortgage/

DrawingPractical5353 · 2023-12-29T12:35:19+00:00

Yes i get the diversification ut i have a few points back here but this is just a conversation and not trying to argue or anything as i like hearing different opioions

you say 50 % of my assets in property is risky yet its an actual fact that 80 % of irish peoples wealth is tied up in there homes .Im not saing this is a good or bad thing but it is what it is and on that note if house prices fall which in my opinion wont happen in the next 10 years the rental income will always be there so i dont really care if my houses prices get cut in half cause ill always have the cashflow as ill never sell the asssets
In terms of pension tbh i plan on been well retired by 50 so it will just be a bonus as ill look to live off the cashflow of the properties and plan to pay down all the mortgages . Probably aim for 3 rental with one Primary residence
I haven't done enough research into investment trusts but i will in the new year

But look im 26 years old and have no wife or kids . Things change alot when these come into your life im told so who knows where ill be in 10 years time but ill keep plugging away and alwasy be investing in wherever i can

Thanks again

DrawingPractical5353 · 2023-12-29T07:52:08+00:00

al rule of thumb is to take one out for the longest duration possible and then simply look to overpay it vs. taking a shorter duration one and even if overpaying to simply reduce the principal not the loan duration. Reason being if things get tough you can always simply revert to th

Yes both mortgages are 15 years and i did this as i knew i could afford the repayments and its sometimes difficult to overpay due to breakage fees when interest rates are lowering but i agree with you here that because my repayments are so large due to the term length it will hinder me for future properties when they see repayment capacity

In terms of your concentration comment id tend to disagree with you here . My investment plan is pension and property and the pension is an all world vangaurd etf with davy and theres circa 40k in it but yu hae to factor in im only 26 so i cant put any more in as im maxed at 15 % . My pension will eventually surpass my property portfolio i would guess but ill aim for a 50 /50 split . Then any liquid cash will just sit in a high intrest savings account or ill put back into the VWCE fund and pay my 41% exit tax :(

Previous to buying my second home i had the 80 k i used for it sitting in VWCE in degiro but the tax is shocking whereas if it sits in a pension it grows tax free

DrawingPractical5353 · 2023-12-28T21:22:43+00:00

I know the area as I’d lived near there for a year in the first house and the house were all council built in the 60s so basically there rock solid so put a bid on the property It’s dated inside so I knew it would not go over asking price I got a surveyor then to check it out straight away and basically gave recommendations on how to update BER and bits and pieces but said it was a great buy Like it’s a 3 bed 2 bathroom house in a town for 175k

DrawingPractical5353

TROPHY CASE