I was told that a young mother on HAP is usually a good tenant, no arrears, all in the hope of getting council housing, not risking it by playing tricks.
Does this info I have quoted above make sense?
I'd love to know the non payment percentage of rents to councils, and if they can't collect their rents how are you going to do it? People renting are very savvy in knowing what the house owner can and can't do and any individual thinking they can just go, buy a house/apt, then rent it out and live happily ever after is living in cuckoo land. If I had €200k in my back pocket the last thing i'd do is buy a property for rent in any part of Ireland. Don't go asking me why, just go and do it and you'll find out soon enough.
John1648;
Of course there are other costs and risks too; incl. the non-payment of the rent portion by the HAP beneficiary.
That's minor if the tenant doesn't pay the council their portion. If that happens the council do not pay you anything!! Then try getting them out, good luck with that too.
That is possible and been suggested for some time now but 10 year bond yields have been doing past week or sowho knows Inflation is rising ,
With respect, you make no sense at all. If it walks like a duck, quacks like a duck, etc etc. As for other countries offering the yield you talk about, or higher, why don't you open a deposit a/c in Turkey. They'll pay you anything from 15% to 20% per annum for your money, you'll just have to change it into Turkish Lira and you're up and runningI was told that a young mother on HAP is usually a good tenant, no arrears, all in the hope of getting council housing, not risking it by playing tricks.
Does this info I have quoted above make sense?
With respect, you make no sense at all. If it walks like a duck, quacks like a duck, etc etc. As for other countries offering the yield you talk about, or higher, why don't you open a deposit a/c in Turkey. They'll pay you anything from 15% to 20% per annum for your money, you'll just have to change it into Turkish Lira and you're up and running
That is possible and been suggested for some time now but 10 year bond yields have been doing past week or so
Definitely seeing inflation but how/ when that will translate into higher interest rates
With respect, you make no sense at all. If it walks like a duck, quacks like a duck, etc etc.
It would be politically incorrect of me to say what my view would be. Then again, nothing to stop you from investing in an apartment and renting out to a HAP tenant for a 6% net yield or whatever. You'll get plenty of advice on here, indeed you already have, but at the end of the day it's your money so go play with it and see how easy it is to make 6% net from it. Good luck.I would still appreciate your view on this - "I was told that a young mother on HAP is usually a good tenant, no arrears, all in the hope of getting council housing, not risking it by playing tricks."
e.g young single mother in Ballymun has house party that gets out of control and leaves thrashed rental for pastures new and unknown- or until a black swan event happens.
It would be politically incorrect of me to say what my view would be. Then again, nothing to stop you from investing in an apartment and renting out to a HAP tenant for a 6% net yield or whatever. You'll get plenty of advice on here, indeed you already have, but at the end of the day it's your money so go play with it and see how easy it is to make 6% net from it. Good luck.
e.g young single mother in Ballymun has house party that gets out of control and leaves thrashed rental for pastures new and unknown
8% gross....6%net with no leverage attached to lever the returns......... just buy Altria, British American Tobacco stock.......8% gross quarterly paid dividend right there.....don't worry about getting the rent paid every month.........smokers always pay the nicotine rent on time........& Altria won't call you at 4am to tell you the toaster isn't working
You've already been advised. No one can really tell what your level of fear should be. The one thing you can be guaranteed of is that this is not the "last train of investment property".I indeed currently reside abroad; but the plan is to eventually return to the homeland.
Have been away long, so lost a bit the touch with the Irish realities.
Hence, would appreciate your views on the above dilemmas
How much of your net worth will that 200k represent?
How long would it take you to save another 200k?
How much if any do you have invested in stocks?
How much if any do you have invested in pension?
Would you be willing to live there yourself if push came to shove?
How many more years do you think you will be earning income from your job?
Or maybe do a money makeover thread.
I think those sort of questions could help people reason about how wise it is.
If this is your last and only 200k that it might be too risky...
But from your posts you have your eyes fairly wide open as far as I can tell
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