ThirstyLizard
Registered User
- Messages
- 30
Hi all,
We currently have two rental properties and have been considering selling one of them to diversify our investments. Our tenant has just informed us that they will be ending the tenancy, so now could be an opportune time...
Interested to get other's thoughts on this.
Personal details
Age: Late 30's
Spouse’s/Partner's age: Late 30's
Number and age of children: 2 kids both under 4yo
Income and expenditure
Annual gross income from employment or profession: €14k
Income from rental properties: €54k
Annual gross income of spouse: 0
Monthly take-home pay: ~€3.8
Type of employment: self-employed
In general are you:
(a) spending almost everything we earn
Summary of Assets and Liabilities
Family home worth €450-50k with no mortgage
Cash of €170k
Defined Contribution pension fund: €10k
Company shares : 0
Buy to Let Property x2 worth €600k (€300k each) with no mortgages.
Other borrowings – car loans/personal loans etc - No other borrowings
Do you pay off your full credit card balance each month? No credit cards.
Buy to let properties
Value: €600k
Rental income per year: €54k
Rough annual expenses other than mortgage interest: €2k
Lender: None
Interest rate: n/a
Other savings and investments:
Do you have a pension scheme? No
Do you own any investment or other property? As above.
Other information which might be relevant
Life insurance: None
What specific question do you have or what issues are of concern to you?
We are wondering if it would be wise to sell one of our investment properties and reinvest the funds (€300k) into other investments e.g. Diversified stock market funds.
We currently rely on the income of both properties, however we have the opportunity to increase our self employed earnings to replace this income. Albeit, we won't have as much 'free time' which we very much cherish in our current stage of life with young kids.
We've always been somewhat scared of putting large sums into the stock market, but realise we are highly exposed to the Irish property market.
Trying to weigh up our options.
Any advice or help to steer us down the right track is much appreciated.
We currently have two rental properties and have been considering selling one of them to diversify our investments. Our tenant has just informed us that they will be ending the tenancy, so now could be an opportune time...
Interested to get other's thoughts on this.
Personal details
Age: Late 30's
Spouse’s/Partner's age: Late 30's
Number and age of children: 2 kids both under 4yo
Income and expenditure
Annual gross income from employment or profession: €14k
Income from rental properties: €54k
Annual gross income of spouse: 0
Monthly take-home pay: ~€3.8
Type of employment: self-employed
In general are you:
(a) spending almost everything we earn
Summary of Assets and Liabilities
Family home worth €450-50k with no mortgage
Cash of €170k
Defined Contribution pension fund: €10k
Company shares : 0
Buy to Let Property x2 worth €600k (€300k each) with no mortgages.
Other borrowings – car loans/personal loans etc - No other borrowings
Do you pay off your full credit card balance each month? No credit cards.
Buy to let properties
Value: €600k
Rental income per year: €54k
Rough annual expenses other than mortgage interest: €2k
Lender: None
Interest rate: n/a
Other savings and investments:
Do you have a pension scheme? No
Do you own any investment or other property? As above.
Other information which might be relevant
Life insurance: None
What specific question do you have or what issues are of concern to you?
We are wondering if it would be wise to sell one of our investment properties and reinvest the funds (€300k) into other investments e.g. Diversified stock market funds.
We currently rely on the income of both properties, however we have the opportunity to increase our self employed earnings to replace this income. Albeit, we won't have as much 'free time' which we very much cherish in our current stage of life with young kids.
We've always been somewhat scared of putting large sums into the stock market, but realise we are highly exposed to the Irish property market.
Trying to weigh up our options.
Any advice or help to steer us down the right track is much appreciated.