I know the chatter about housing is banned but I can't believe no one has spotted the elephant in the corner here. An investment property on an interest only mortgage which is costing the OP 300 Euro EVERY month before any costs (maintenance fees, depreciation, etc).
This is where your money is going every month, you're subsidising your tenants.
Or even earlier...See my post above
Some questions and observations.
2) You are paying out €300 a month more on your mortgage than you are getting in on rent. Hopefully, this is because you are paying off capital. Switching this to interest only will save you some outgoings.
Of course you've taking into account that rents are rising over time ? His tenants will still be paying 1300 amonth in 20 years time ?
Do you mean capital gains - on paper right now? And does this figure account for all costs incurred to date including any periods during which rental income was less that mortgage and other costs or maintaining the asset?but i have made about 110,000 on this
So you just wanted to moan and didn't really want assistance? What a waste of people's time.MY post as i stated above was just a rant about how expensive ireland has got.
The investment property is costing me 300 per month but i have made about 110,000 on this and any loss i will offset against capilal gains when i sell .So i look at this as a saving plan. I am going to sort out the cc.As for the car ,well i could be dead tomorrow .I dont really worrie about money and do belive in living for today but also look after the future. MY post as i stated above was just a rant about how expensive ireland has got.There are a lot worse off so i am thankfull for what i have got.
“It just never works out that way everything in this country is so expensive. Do other people feel the same?”
The investment property is costing me around 300 per month .This gives me a loss on my investment which I will offset against c gains tax.
I have made about 110,000 on the property at the mo.
I do feel that prices while steady at the moment ,will still increase at a slow rate.
I don’t want to go through life not enjoying the good things..
In 3 months time cc will be gone and will still have 25,000 in shares.
Since you're patently not genuinely looking for assistance I'm closing this thread to avoid wasting any more contributors' time.As for the car ,well i could be dead tomorrow .I dont really worrie about money and do belive in living for today but also look after the future. MY post as i stated above was just a rant about how expensive ireland has got.There are a lot worse off so i am thankfull for what i have got.