Thanks for that. You may be right. If I put a gun to you head and said I could only sell one which would you advise?You own 6 properties in total including 4 investment properties? Aren't you very, and maybe overly, concentrated in one asset class and could do with diversifying a bit more? Perhaps by selling more than one investment property (perhaps even the two that you're asking about here) and investing the returns in another asset class such as equities?
This may need more of a Money Makeover post than a simple "which of these two properties should I sell?" question...
Thanks for that. You may be right. If I put a gun to you head and said I could only sell one which would you advise?
Thanks DannyHave you considered investing & renovating to bring up to market rent?
Alternatively you could rent out your Dublin weekend home & use the citywest rental property as your holiday home for the next two years. Then when you go to rent again, you'll be able to bring up the rent to market level.
This isn't possible. As I understand the OP, both properties are already tenanted.With property 1 can you consider short term letting? With the help of an agent.
Then if it's let like that for two years, can you let long term again at the market rate?
I would sell several, probably more than one or two, and invest in equities. But I have no idea of your overall financial circumstances so that's probably useless input.Thanks for that. You may be right. If I put a gun to you head and said I could only sell one which would you advise?
I didn't say immediatelyThis isn't possible. As I understand the OP, both properties are already tenanted.
On the reasonable assumption they have been there for more than 6 months; that means the only grounds on which the tenant can be asked to leave (all other things being equal) are:
- if the property is to be sold,
- the owner wants it for their own use or
- if extensive refurbishment is to be done, making the property uninhabitable during the refurbishment. (there's more restrictions on this one, you can look up the detail yourself)
at that rent, might be decades away.I didn't say immediately
What i meant was, when current tenant moves out
Correctat that rent, might be decades away.
If I use abs excuse to get themUnless you need the cash, I dont see why you'd sell either.
There's an easy work around available to you & properties could be back to market rent in 2 years.
I’ve a flat in London worth £750000- mortgage £350000-
Mortgage rate 5.5%
Property 2
Location - midlands
Value 200000
Mortgage 150000 5% int only 625 pcm
Rental income 840
Market rate 1400
CGT 0 or close to
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