You're welcome! My project is already well advanced. Mortgage approved & Internal rate of return is estimated minimum 15% on 15 years.
With everything included :
- Transaction costs (sollicitor, estate agent, surveyor, stamp duty... )
- Deductible (Capital allowance, PRTB, insurance, maintenance, repairs, waste, electrucity, gas, internet, accountant, even water !)
- Non-Deductible (Property tax, NPPR)
Regarding tax on income rent i included PRSI, USC, and 41% (Budget 2015)
At this point i think it's better to get a piece of advice from a sollicitor.
If he confirms it's only 20% tax on net rental income it would be perfect...!
This would be a first try and if positive i hope to invest more in buy-to-let.