A friend of mine is a property developer and is developing in a strong area of growth in galway ireland.
I have an option to buy one of the houses in the estate. I can buy the house at a reduced price or I can buy a serviced site and get in the buiders myself.
My question is which is the best. And what other options have I to try. He is flexible with me but I really do not know what to be asking and basically how to structure this to my best possible benefit.
That actually is my question how can I structure this so that it is most advantagous to me.
This will be an investment property that I will be selling as soon as humanly possible. I will not be keeping this, I am buying to make a profit.
If it is your intention to buy property in Ireland with the goal of turning a fast buck you may have to face up to the reality that you may have missed the boat. A lot more research needs to be done on your part before you decide what is your best move.
I find your reference to Galway, Ireland interesting. Are you a resident of the Republic of Ireland?
Have a look at the [broken link removed] for some sceptical commentary/observations/discussion on the property market in Ireland over the last few months.
In the current market I would only buy if I didn't mind keeping it for a few years. Buying as an investment seems extraordinarily risky.
However, if you are being offered a 500K house for 250K then it's a good deall. I wouldn't bank on capital appreciation but a bargain is always a bargain.