Another sell or keep investment property?

It's very clear to me.
You must sell the property now.
Otherwise your money is tied up in an asset which you may not access except every 6 years.
And then if you mess up on the paperwork, you might not be able to access it.

Sell the property.
Invest the proceeds in equities.
Enjoy life without worrying about tenants and a change in government doing even more stupid things to landlords.

When your child goes to college, you will have plenty of funds and buy a property suitable for them near to the college they choose to go to.

Property investment is only ok for large institutions with multiple properties who can diversify the risk of a bad tenant and who will not need access to the proceeds. (Even then, I probably wouldn't invest in Irish residential property.)
 
Brendan Burgess said:
Property investment is only ok for large institutions with multiple properties who can diversify the risk of a bad tenant and who will not need access to the proceeds. (Even then, I probably wouldn't invest in Irish residential property.)
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I agree. For most people, and very likely in this case, owing one's PPR and a rental property is concentrating far too much of one's overall net worth in a single asset class and geographic region and increasing risk compared to a more diversified asset allocation.
 
Thank you all for the replies.

I have discovered that the "same" apartment sold for €425k in June 2023 so as picked up I have undervalued this. The market rent is probably €2,600 per month.

The clear opinion is to sell!

I have always been lucky with tenants (interviewed myself) so the "easier" option is to go with what I know. I have a few weeks to consider so will update when I decide.

Anyone have recommendations for reliable and efficient solicitors in Dublin?

thanks again
 
Kerrygrrrl said:
I have always been lucky with tenants (interviewed myself) so the "easier" option is to go with what I know. I have a few weeks to consider so will update when I decide.
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I think you are always better off interviewing the tenants yourself. You are more motivated than an estate agent to ensure you have a good tenant. But no matter how could a judge of character you are and no matter how carefully you vet, the person is still a random stranger who you'll have met for about 15 or 20 minutes. You could make a mistake. The tenant will be very motivated to appear as nice as possible and tell you what you want to hear.

These days, if you are wrong about the person's character, you could end up struck with them for a very long time and the only solution may be to sell the property at a very large discount.

You are taking that and all the other risks for what is, after tax and costs, a relatively low yield on an asset which based on the 2023 sale has a value approaching €500k now.

A sale does look like the best option.
 
I have moved the discussion of Askaboutmoney's anti-landlord bent to a separate thread

Askaboutmoney has an anti-landlord bent

The clear opinion is to sell That’s not at all clear to me. AAM has an anti landlord bent. Cremegg said you’re getting 6.6 return, before tax, that will be higher now with market rent. What type of property is it? Are yiu certain of the rent? How about asking an auctioneer to give you a...
www.askaboutmoney.com
 
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