1) Purchased 1999 for 120k Current value 240k
Why?If I sell No 1 I will pay off mortgage no 2.
with rental income of about 1000(less than market rate but good tenants)
In looking at this, I'd sell both. I realise the value of good tenants but €12,000 per year isn't much on a €240k property - 5% gross yield.
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I'm confused!! Is there an obvious choice?
1) Purchased 1999 for 120k Current value 240k mortgage paid off
Problems selling No 1 is large cgt bill
2) Yes I have one badly performing mortgage in a town 45 mins from Dublin- Now outstanding amount 300000K and property worth 160k.
and generating about 600 euro profit monthly meant it wasn't really a major issue
Thanks for that. As a UK resident I thought I was liable to pay tax only to HMRC. If so can I not just pay capital gains in the UK which is a lower rate?
How was the figure of 13000 calculated exactly? 33% of 40000 which is difference between purchase price and sold price? I'm sure this figure could be reduced by other expenses as mentioned by an earlier poster.
Thanks Ronaldo and Brendan. Ronaldo between the jigs and the reels , if I am going to sell one of the 2 original properties can you see why I feel the one with the mortgage is the one I'm thinking if going for?
NBC
I still think it's a no brainer to sell the loss making one first but each to their own.
Whatever else it is, it is not a no brainer.
It's a very finely balanced decision.
I'm not sure whether it makes sense to do this but I feel it does
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