Investing in property to rent out to tourists

N

Novice

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Hi there
My boyfriend and I are considering buying a property for the sole purpose of renting it out to tourists in Dublin. Neither of us own a property and we are both currently renting. We would hope that the return on the holiday let would cover the mortgage repayments (we have some money saved to cover any "empty" weeks).
Is this a viable idea?! Any thoughts, suggestions, etc welcome!
 
Surely it would be better to buy and property and "let" it to yourselves? That way you would have reliable tenants and you would "save" the rent you're paying now!
 
How many empty weeks per annum are you budgeting for? How much are you budgeting for maintainance costs? How are you planning on finding tenants? Have you checked out what your tax liability is going to be?
 
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