Hi All,
I am looking for some investment advice.
I have €35k to invest. My situations is as follows:
1. I have recently bought a house value €215k and am comfortable in making the repayments. I am renting 2 out of the three bedrooms and I am living in the 3rd. Renting the 2 rooms is covering my mortgage repayment.
2. As mentioned, I have €35k in savings after paying the deposit and expenses of buying the new house. This is what I am now looking to invest.
3. My monthly disposable income after mortgage repayment and not including rental income is €1,800. This includes deduction for bills etc. So I possibly could afford a second mortgage.
My questions really is, should I look to get a second property and use the €35k towards a deposit on it or should I look for an alternative way to invest this money given that I have just bought a property?
I am not averse at all to owning a second property but there are possibly other considerations that I should take on board such as tax etc.
Thanks very much in adavnce!
Jim
I am looking for some investment advice.
I have €35k to invest. My situations is as follows:
1. I have recently bought a house value €215k and am comfortable in making the repayments. I am renting 2 out of the three bedrooms and I am living in the 3rd. Renting the 2 rooms is covering my mortgage repayment.
2. As mentioned, I have €35k in savings after paying the deposit and expenses of buying the new house. This is what I am now looking to invest.
3. My monthly disposable income after mortgage repayment and not including rental income is €1,800. This includes deduction for bills etc. So I possibly could afford a second mortgage.
My questions really is, should I look to get a second property and use the €35k towards a deposit on it or should I look for an alternative way to invest this money given that I have just bought a property?
I am not averse at all to owning a second property but there are possibly other considerations that I should take on board such as tax etc.
Thanks very much in adavnce!
Jim