I read that article a few day ago and it was so bad I didn't pass any head on it.
She bought three properties. Two were 100% funded by borrowings it seems to me, she mentioned equity in the first and from the home to fund the two subsequent purchases. She stated that LPT was one of the biggest annual outlays !?!. Because of the time she bought I'd be amazed if she was in NE.
And yes she must be coming to the time of breaking even. UNLESS, she dipped in again, not uncommon to take out 'equity'. All these stories are never fully told. Were the rents ever covering interest and capital. Was a term extension sought.
If you bought in the late 1990's you are at least 15 years in. You'd have 5, maybe 10 years to go. Most of your rent would now be paying down capital, not interest. She will eventually own the three properties outright. And if she's been wise, most of this will have been paid for by rent. But it is true she has probably been paying some from her own pocket, and it is true that the imposition of USC, PRSI, the loss of 25% interest relief has made it very uneconomical to be a landlord if you are a higher rate tax payer.
It's a nonsense for someone to describe themselves as unprofessional if you have three properties. Actually if you have one and been in the business 15 years you should be professional. What is professional. Accidental I get and have some sympathy, for some.
I heard a report on this with Joe Duffy. The story was so ludicours I wrote it down.
Landlord bought in '98, for 90K in Limerick. At height worth 160K, at bottom worth 30K, mention of a particular block, and now worth 40K. So 17 years of mortgage payments. I suspect the whinge there was because either he was mad at himself for not selling for 16K or he bought in one of those 'mismanaged' apartment blocks where nothing was ever right with the management company from the get go, hence the amazing drop from '98 of 90K to 40K today.