1 purchase 2 many ?

[The Murfster]

We are a couple each with a property but currently not living together (yet !)

One property in Dublin has equity of approx €125k going by current market rates and sale prices on daft for the same house in the same estate. Mortgage outstanding on this is €190. Currently 2 rooms are rented out and income is €750 a month. Third room will get approx €400 / month when I move. Or possibility of renting the whole house to a family etc rather than individuals as current.

Second property is in Limerick with equity of approx €85 and mortgage outstanding of €200 k. Currently gf works from home here in busy physio practise but will probably need to invest to expand and extend the building as space is running out.

Plan is for us to both shack up in our property in Limerick. An apt has just come up for sale literally opposite the house in Limerick and we would love to purchase for investment or ideally as new practise premises. It could also be rented and the area is solid and very popular as everything is snapped up here very quickly.The current offer on the apt is €200k after 3 days on the market!

My salary is €43 k and gf earns approx €40 self employed but will double with new premises.

Do you think this is a goer to purchase or are we being too greedy!

Thanks in advance for the good advice.

The murfster

 

[asdfg]

How long are you living in the property in Dublin. If less than 5 years and if you paid the lower stamp duty rate you may be liable to clawback of stamp duty.
You will now have to pay tax on the property in Dublin. You can offset certain expenses in order to calculate the tax due See [broken link removed].

In relation to the property in Limerick as your G/f is running a business I take it that she declared this when buying the property or within 5 years of buying the property and paid the correct stamp duty.

In relation to the new property if it is your intension to let you will have to pay stamp duty at the investors rate and tax on the rental income.

Is your g/f income gross fees or net fees
It is certainly feasible