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It's amazing how things have changed in 18 months !!! Back then the rent was making me a nice annual profit. But now the tide has turned. I have 3 rental properties on interest only mortgages as follows:
Property / Rate /Profit (monthly)
A 0.0503 -€77
B 0.0485 €219
C 0.0469 -€4
So, I am €138 in the black every month. BUT when we see the next .5%interest hike I will be in the red. Now I have to consider my options ! Should I subsidise these properties with a view to making 5% to 10% gain in value. Should I approach a bank with a view to consolidating the 3 separate loans into a single loan (commanding a lower interest rate) or should I now consider off-loading the properties.
Any advice ?
A lot of this was down to people waiting for news on stamp duty in the budget. You'll see that prices will rise again in Q1 of this year and will keep rising..
... the Sherry Fitz economist agrees with what I am saying (that "prices will rise again in Q1 of this year").
No point in wriggling around, let me remind you of what you said.
You'll see that prices will rise again in Q1 of this year and will keep rising.
That kind of statement well deserves to be 'flamed'.
Last time I checked this was a forum where people are entitled to express there views....
Apologies Remix I have not seen the new rules.
Disregard my last post please.
Remix, I see you chose to underline a bit that time. So I take it that you agree with what preceded the "and will keep rising". With regard to my 'keep rising', I will opine further - prices will rise in the next 12 months.
I believe that the vast majority of economists - at least the ones I know - do not disagree with this prediction. It is based on this that I would not myself cash in on any investments yet. There may come a time but it is not yet here.
You might give me a look at the rules you refer to by the way, thanks.
It smacked of tabloid headline journalism
Sherry Fitzgerald have a vested interest in the property market and therefore cannot be relied on for independent, unbiased opinion on where the property market is going.
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