A colleague of mine has just told me about an opportunity (in Ireland) where a large hotel chain are building a large develeopment in which they are selling the hotel suites to investors. Aparantly this is not new, other groups have done the same like the Four Seasons and Ritz Carlton. The rent is guaranteed at 4.5% of original purchase price per year for 7 years.
They are part of a tax relief scheme (section 23? in think) where you can ofset 78% of the purchase price against tax - this is not applicable to me as I only have one property and it barely makes any profit at all. If I put a 5k deposit down by the end of the week to get the Pre Launch Price of 330k. Upon launch in a few months they will be 25k more expensive, and pahze two will go up by the same again. So I am obviously eager to get it early, but want to do my research fully beforehand. I have yet to find out all the information about it but i am very interested and would like to ask the AAM members for their opinion.
If I do this I will be going in with a friend 50/50. We are both 26.
Thanks
They are part of a tax relief scheme (section 23? in think) where you can ofset 78% of the purchase price against tax - this is not applicable to me as I only have one property and it barely makes any profit at all. If I put a 5k deposit down by the end of the week to get the Pre Launch Price of 330k. Upon launch in a few months they will be 25k more expensive, and pahze two will go up by the same again. So I am obviously eager to get it early, but want to do my research fully beforehand. I have yet to find out all the information about it but i am very interested and would like to ask the AAM members for their opinion.
If I do this I will be going in with a friend 50/50. We are both 26.
Thanks