At the moment the investment house is costing us approx 5,000 in tax and property payments. The rental income is 1200, but we are taxed on that. It is an excellent location and we have never had any problem getting tenants for it.
We also have an investment property (our original house which we didn't sell). It has a mortgage of approx 140,000 left on it and is currently valued at 300,000.
At the moment the investment house is costing us approx 5,000 in tax and property payments. The rental income is 1200, but we are taxed on that. It is an excellent location and we have never had any problem getting tenants for it.
Do you own any investment or other property? Have a Primary Property. €212,000 mortgage, ECB + 1%
Rental income | €14,000 | |
Interest paid | €1,400 | €140k @1% |
Other expenses | €5,000 | |
Profit before tax | €8,000 | |
Profit after tax | €4,000 | |
If you were mortgage free, what would you do with your mortgage payment? It looks like you're already maxing pension contributions.Sounds like nothing major to gain from selling, other than peace of mind of living mortgage and debt free.
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