R
markowitzman said:I was put off by the lack of lights on in appts during the winter nights as I often drive thru. Would not sell if you have a tenant unless you are under pressure to sell.
When you factor in rental income to date are you still at breakeven or at a loss?rabbit said:yes, I have a careful clean non-smoking MBNA employee in it on a lease ,
How and why did you decide that property, and this one in particular, was the most appropriate investment option for your specific needs in preference to all of the other options available? Was this a calculated investment where you researched it carefully, obtained independent/professional advice and crunched the numbers to check the potential viability of your plan or simply a "punt"?To be honest, I wish I had not "invested" there at all.
But did you also research the other possible investment options open to you and then decide that property was the most appropriate for your specific needs? Or did you just plump for property?rabbit said:4 years ago I researched the property market as fully as I could
You mean that rent will eventually cover the ongoing (and previously incurred?) costs bring him to breakeven or even profit (real or nominal?)? Why do you think that this would necessarily be so?markowitzman said:As capital cost is low rabbit should be able to shoulder loss for a few years and get self financing soon.
Says who?In the interim capital appreciation will cover shortfall even if only a % or two.
markowitzman said:rabbit for crying out loud you are getting decent rent for this.
Good yield and sitting tenant.
castlebar properties 3-4 beds worth 250-350k get the same rent with many vacant.
Dont sell just take care of the tenant.
Sorry for being blunt but where else in Ireland are you going to get that yield?
markowitzman said:Sorry for being blunt but where else in Ireland are you going to get that yield?
Is that €500 gross or net of tax, expenses and allowance?rabbit said:By the way, the rent I get is 500 per month for a 2 bedroom apt. there. Rents have fallen there a bit and as I say some apartments are empty there it seems - I know mine has been before the current tenant. I was looking for 550 p.m. but was eventually happy to settle for 500.
kirian said:markowitzman, I think you are basing your calculation of the yield on a monthly rent of 500 and the apartment being worth 140k. But I think the 140k figure rabbit mentioned was for a 1 bed in the same development and rabbit has a 2 bed I think. So the yield is probably less than you think? We need to know the value of rabbits apartment to calculate the yield.
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