Is it possible to sell a property portfolio?

K

KevinT07

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I have 10 properties which i want to sell. One property is a section 23 property. Can anyone tell me what company or firm i could approach to do this? 4 properties are in Kildare/Dublin, the rest are in Tipperary. Any suggestions would be grately appreciated.
 
It would seem that you are in a hurry to offload them all in one go, if so you will probably need to price them competively or they could remain on the market for quite some time due to the fact that inventory is increasing all the time (according to daftwatch). Most of the main EA's have a nationwide presence, you could always just approach a few of them and see what sort of rates they would offer as you do have volume on your side.
 
I would go to your accountant/or the local mortgage broker and ask them if they had a client who was interested in acquiring a portfolio. Obviously you will have to make it appealing to the buyer with a 5-10% discount from market value.
 
in the UK, we have landlordtrader.co.uk where you can buy and sell portfolios, dont know if there is similar in ireland but maybe you could advertise here and find a uk buyer ?
 
Why do you need to sell them as one lot. Can you not split them.
I understand (open to contradiction here) that if a buyer buys them as one lot then the purchase price will be taken as the total sum and the transaction will be viewed by the taxman as one purchase so the stamp duty will be higher.
 
To appeal to investers you will need at least 5.5% yeild
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the irish "investor" will settle for a lot less.
Seems strange to me why one would sell all when presumably you are getting rent tax free due to section 23?
Couple that with cgt of 20% and legal/ea fees and loss of rents during sale process and you could be looking at up to 30% of your profits going up in smoke.
If I was in your shoes I would not rely on ea for advice. I would get tax advice from a tax specialist.
 
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