Real estate might not be that passive One of the biggest differences between stock market investments and owning real estate is that real estate is much more work. With the stock market, one of the best strategies is to keep regularly buying more shares of a diversified fund, and that’s it. You don’t need to sell (and you shouldn’t really!) and there is no need to spend a lot of time researching if you found the right diversified fund (e....
In this post I want to share some tips about renegotiating the offer on the property after receiving the results of the survey (inspection) and valuation.
I am not an expert negotiator and there are many real estate investors that are more experienced than me, but there isn’t much content about it. A post like this in the past would be a great help for me.
The advice here is based on my recent purchase of a rental property in Dublin in which both the survey and the valuation showed some problems....
My partner and I managed to buy a rental property with a Buy To Let mortgage in Dublin, Ireland during the Covid-19 pandemic. It took ages though, just going from sales agreed to keys in the hand took over 6 months.
In this post I want to describe how the process looked like for us after the seller accepted our offer. You can find a very good article about how this process generally works at citizensinformation website....
If you analyse your investment opportunity poorly or don’t analyse it at all you might get very poor return on investment or even lose a lot of your money (potentially your whole down payment!). So, tread carefully, just putting money blindly in real estate will likely not work very well.
Luckily there are a lot of resources that you can learn from! I will present you some of my favorite learning resources and tools....
The pressing need for investing I have always been a saver. I would stash away the cash I got for birthdays and other occasions since I can remember. I saved up money through high school, I saved significant parts of my paychecks from all my jobs in Poland (where I come from). Obviously I would sometimes spend some of that money, but I had a solid habit of saving. When I moved to Ireland at the end of 2015, my Polish savings suddenly became much smaller - I got hit by the fact that now the one month of apartment rent was approximately 4....
You might be forced to rent one of your spare rooms to be able to afford the mortgage or you might use it to build your financial advantage. Renting a room in Ireland can be a fantastic opportunity to drastically improve your finances, because it offsets your housing costs and provides great tax benefits due to rent a room relief. If you are still on the fence about doing this, you might read more about the benefits of this approach in my previous post....
Buying is cheaper than renting Rents in Dublin are quite expensive, especially in South Dublin and close to the city center and they keep increasing. There is a significant difference between what the rents were in 2015 and are now even with the rent control. Renting isn’t necessarily bad - it has its advantages, e.g. you don’t have to worry about the surprise repair costs, you can move easily. But financially in Ireland it’s not the best bet....
Welcome to the second post in the series of evaluating real estate deals. You can see the previous post that discusses what are the sources of return here.
Today we will learn how to know if the investment is a good investment looking at its returns. This is not a comprehensive ‘how to analyze deals’ post. People could write whole books on this topic. Instead we will take a look at some basics of investment returns....
Real estate investments in Ireland need significant capital. In general you can get a loan with a 20% down payment (or 10% in certain cases) when buying a property for yourself to live in. Investment property loans (Buy To Let) start with 30% down payments. It’s a big deal! Before you invest, you should check if it’s worth it. You will be locking down a lot of your capital. You could invest it in other ways, for example in a different real estate deal, equities and so on....