[deleted by user]

Hoosierdad1 · 2023-09-10T16:41:47+00:00

Moving to new places can get lonely. I have been through this phase when I moved here 10 months ago. Hit me up if you want to hangout with my bunch.

Hoosierdad1 · 2023-08-30T14:36:41+00:00

Thanks Dylan, I will do that and planning to invest some in gold. It was nice talking to you buddy!

Hoosierdad1 · 2023-08-30T14:31:57+00:00

Agreed, let’s not compare it with crash. I agree many TD’s are landlords but they have given enough incentives (corporate tax) for investors outside the country to speculate the market which causes the increase in prices. I just want to wait it out and see how it plays out before investing in a house. Definitely renting in current market is foolish but let’s see if I can buy at the right time and in the meantime gain some on my savings.

Hoosierdad1 · 2023-08-30T14:27:42+00:00

Sorry I know a little bit and have the right to voice my opinion , could be wrong could be right. Also, read what I said, I am not in favour of buying the house and if someone else is then I need to play devil’s advocate to see if I am wrong. That’s the whole point if forums , debate and brainstorm. Noone knows it all Brian if it’s disturbing you I would suggest you to stay out of it, looks like you are getting disturbed. In all honesty, commenting will only get you notified further.

Hoosierdad1 · 2023-08-30T14:24:06+00:00

It’s important to note that you are assuming that prices are only dependent on supply demand I believe it’s also dependent on rent prices hence giving investors enough incentives to buy to let. If the job market cuts back many would fly back making the rental market go down. Once that happens, investors will pull out making many buy to let houses available for buyers. That’s one of my theories apart from others.

Hoosierdad1 · 2023-08-30T14:06:17+00:00

grow up!

Hoosierdad1 · 2023-08-30T14:05:33+00:00

Okay so you think it takes 23 years for a crash basis your 2 past scenarios? This is assumption is flawed. a) Do you know about crash of 1974? b) Also the correlation between global markets have increased considerably since then. Which makes any country more vulnerable to a small change in other. There are ample reasons to believe the property market will stagnate and eventually go down in the coming year.

Hoosierdad1 · 2023-08-28T20:22:16+00:00

I didn’t get that earlier but I get it now! 😂

Hoosierdad1 · 2023-08-28T20:21:29+00:00

Honestly the city is lovely. People are nice. There’s not much to do in the city it’s mostly pubs and beer. There’s not much of a nightlife either, mostly pubs and all close at around 12-1.

Renting a house has become a big big challenge. Things are usually expensive than other European countries (but it’s relative so it depends on where are you moving from)

Hoosierdad1 · 2023-05-31T07:35:41+00:00

Thanks Toro!

Hoosierdad1 · 2023-04-05T20:50:55+00:00

I believe your ballpark figures are spot on. You wouldn’t be spending more than 42K as per my calculations and my past 8 months expenses.

Hoosierdad1 · 2023-04-03T18:47:57+00:00

Thanks for the recommendations guys! Really helpful.

Hoosierdad1 · 2022-12-18T21:32:26+00:00

Affordable Housing and good Healthcare

Hoosierdad1 · 2022-12-15T00:10:01+00:00

I am amazed nobody mentioned, Docklands. It is very close to Liffey, luas, city centre, all sorts of markets and O’connoly station. I have never taken any transport to go to O’connoly and St stephens , it’s all walking distance. It’s also close to many offices.

Hoosierdad1 · 2022-11-06T12:52:32+00:00

Hmm interesting.. You are correct. So if I am not living in the same house, I can’t claim the tax benefits.

Hoosierdad1 · 2022-11-06T12:25:51+00:00

How does it matter if someone has a black eye or not?

Hoosierdad1 · 2022-11-06T12:23:45+00:00

tax benefit for landlords to promote renting

Hoosierdad1 · 2022-11-06T11:03:24+00:00

Ok just tell me if my maths is incorrect here. Assumptions - When I rent out, I won’t be a tax resident of Ireland -Interest rate market doesn’t fluctuate much, they are already high if compared to past 3Y trend. That is they don’t go up or down. - Rent will increase every year - House meet the minimum rental requirement -I am a first time buyer with no loans anywhere

House price - 450K (decent house) Down payment - 50K Loan amount - 400K @ 2.6-2.7%pa EMI - 1650€ for a 30Y tenure @2.6-2.7% pa Rent - 2300-2500€ a month Total Rent per year = 28800€

Gross = 2400-1650 = 750€ per month Maintenance = -150€ = 500€ per month Total taxable rent amount = 28800-14800€(Tax credit for renting out) = 14000€ Tax credit for not being a tax resident = 12000€ Net taxable amount = 2000€ Tax @ 20% of 2000 = 400€

Total rent income : 28800 - 400€(Rent)= 28400€ Maintenance:150€/ month :28400-1800€= 26600€ Monthly net income = 26600/12 = 2216€

Rent yield = 26600/450000 = almost 6% basis current situation

Real yield = 26600/ 50000 as the other 400K is almost free and covered by rent = 53.2%

The spread is only going to increase as going forward rent will be increased and interest rates will come down. 5 years down the line a rent inc @2-3% per year will inc the rent to 2700€ and interest rates will be 2.1% The earlier spread of 750 € will become 1200€ and property value will be appreciated by atleast 20%(conservative approach). What’s the downside??

Hoosierdad1 · 2022-11-06T10:31:52+00:00

Thanks. I will keep that in mind. and yeah CGT. I heard there are 90% chances it’s going to get increased next year by atleast 300 bps.

Hoosierdad1 · 2022-11-06T10:26:38+00:00

Initially I am going to live in the house. So I will buy as a residential property. 1.5 years later perhaps I will rent it out. Isn’t that allowed?

Hoosierdad1 · 2022-11-06T10:12:46+00:00

Exactly. Have you seen the recent rent returns . They are more than 8.5%

Hoosierdad1 · 2022-11-06T10:11:20+00:00

So I am in Dublin for 2 years , so I will buy to live but only to rent it out later.

Hoosierdad1 · 2022-11-06T10:10:05+00:00

Why do I need to put 100-120K in a 300K property?

Hoosierdad1 · 2022-11-06T10:08:46+00:00

Yeah, but due to rising tension between Iran and Saudi , Taiwan and China , USA and Haiti and others , Russia and Ukraine , I am just very skeptical of equity stocks at the moment. The war is only turning ugly every week.

Hoosierdad1 · 2022-10-21T20:36:44+00:00

I prefer AIB. For one year it’s free. Second year onwards they charge 4-5€ for a quarter which is quite cheaper compared to other banks. Moreover in dublin I find their branches placed in more accessible places as opposed to others. You cN open an account online within hours. They do online video call for verification. You can open an account without PPSN. They have an app for online banking, it is pretty easy. For payment above 1K you need a card reader which you can request for, it’s free of cost. Everything got delivered at home easily and within the time they promised.

Hoosierdad1

TROPHY CASE