suggestions for alternative to rentals as source of income

[ploughna]

I'm living and working overseas with a few Irish rental properties generating about 4.5% net income and had planned to use this as a source of retirement income in 5-10 years. However, the current environment and rumblings about future legislation further eroding rights of landlords (lifetime tenancies, further rental caps, etc) has me concerned and weighing if now is the right time to exit the market. The only thing stopping me is not having a good alternative from an income generation standpoint. I could go the direction of dividend producing stocks, REITs or other investment funds (I'm resident in the US, so no shortage of options) but have significant stock holdings already and liked having the properties from a diversification standpoint (and having the option of living in one of them when we return to Ireland).
What are all these people that are selling up and exiting the rental sector doing with the proceeds? All ideas welcome!

 

[Brendan Burgess]

If you want to retain a stake in the Irish property market, then retain one of them.

But it sounds as if you have enough wealth to buy a property if you return, so it's not really necessary.

You should speak to a good local tax advisor and find what is the most tax-efficient thing to invest in as a US resident, domiciled in Ireland. I doubt it's Irish property.

Brendan

 

[ploughna]

Thanks Brendan - appreciate the quick response. I'll kick off a discussion with our Irish accountant as a starting point

 

[noproblem]

Thanks Brendan - appreciate the quick response. I'll kick off a discussion with our Irish accountant as a starting point

Better again if you come back on here and give us a few markers when you're brought up to speed