I'm interested in getting into property investing, over the next few years. At the current time I don't see much value in Ireland, and i'm not really interested in investing overseas (but as with all things in life this could change).
So in the meantime I'm loading up my savings, with a view of 3-4 years time buying into proprty, with a long term view of generating an income stream that will support the mortgage payments and additional costs, plus hopefully generate income for re-investing in future property. I'm not interested in speculating on what a property 'might' be worth a year or 2 later (I don't mean to sound too harsh but I'm tired of people selling future worth as a reason for maxing out mortgages).
My question is what level of borrowing do successful investors have? I've seen ads for 'buy to let' offering 90% mortgages, which in the current environment I can't see paying off a mortgage, let alone supplementing empty periods.
Any suggestions on what is a more 'realistic' figure, I recall in the past people talking about 75% mortgages on investment properties, does anyone have an idea what sort of figures add up (i'll take non-Irish figures, as I don't think we're currently a good case study)?
So in the meantime I'm loading up my savings, with a view of 3-4 years time buying into proprty, with a long term view of generating an income stream that will support the mortgage payments and additional costs, plus hopefully generate income for re-investing in future property. I'm not interested in speculating on what a property 'might' be worth a year or 2 later (I don't mean to sound too harsh but I'm tired of people selling future worth as a reason for maxing out mortgages).
My question is what level of borrowing do successful investors have? I've seen ads for 'buy to let' offering 90% mortgages, which in the current environment I can't see paying off a mortgage, let alone supplementing empty periods.
Any suggestions on what is a more 'realistic' figure, I recall in the past people talking about 75% mortgages on investment properties, does anyone have an idea what sort of figures add up (i'll take non-Irish figures, as I don't think we're currently a good case study)?