I appreciate there have been threads about this type of thing before, but I have a specific property I need to get response on.
Cost 190k for 2 bed townhouse (plus stamp etc)
monthly income 700 pm (near 2 local factories, and hospital, very easy to rent out apparently, but I personally fear high turnover of tenants)
we can put up 30k to cover initial costs, stamp and dep. (from SSIA and some other monies we don't need right now)
We want a long term investment (20 years or so).
We could get a mortgage for the bal no prob, as we have huge equity in Dublin home, but are wondering if this is way to go?
Is there a formula I could use? I do recall seeing one on AAB before, but cannot seem to find it.
Really appreciate any views.............
Cost 190k for 2 bed townhouse (plus stamp etc)
monthly income 700 pm (near 2 local factories, and hospital, very easy to rent out apparently, but I personally fear high turnover of tenants)
we can put up 30k to cover initial costs, stamp and dep. (from SSIA and some other monies we don't need right now)
We want a long term investment (20 years or so).
We could get a mortgage for the bal no prob, as we have huge equity in Dublin home, but are wondering if this is way to go?
Is there a formula I could use? I do recall seeing one on AAB before, but cannot seem to find it.
Really appreciate any views.............