property investment abroad, or in ireland, or at all?

[paperclip]

my current situation. bought a house with a friend 2 years ago, my monthly payments after rental income (we rent out rooms) is €350pm.

i'm on 54k a year.

i borrowed 20k to buy this with my friend. after financing loans, for 2 years, and along with a 10k ssia, i'll be debt free next month.

should i be looking at getting some investment property? i mean, i could handle the monthly repayments......... but where would be a good place to start.

the irish market seems a little eratic at the moment..... so, does anyone know where would be a sound enough county to invest in? bulgaria?

i'm really a bit clueless to all this...... would i be better saving?

 

[ClubMan]

Is the existing property your PPR?
Have you considered other possible alternative investments other than property?
Are you aware that concentrating most or all of your assets in a single asset class (domestic property), risk/reward profile and possibly geographic region (Ireland, EU etc.) property (i.e. your PPR and an investment property) involves risks not necessarily attributable to a more diversified and well rounded portfolio.
Do you have a pension?

 

[paperclip]

Is the existing property your PPR?
Have you considered other possible alternative investments other than property?
Are you aware that concentrating most or all of your assets in a single asset class (domestic property), risk/reward profile and possibly geographic region (Ireland, EU etc.) property (i.e. your PPR and an investment property) involves risks not necessarily attributable to a more diversified and well rounded portfolio.
Do you have a pension?

thanks for reply clubman.

1. what's ppr (as in do i live there....... answer to that, yes)

2. what would be a good way to invest my money, just a simple rabo savings account, i could afford to put away around €900pm

3. yes, i have a pension with work, my contriubions are 6% of my salary.

i need a little guidance

 

[ClubMan]

2. what would be a good way to invest my money, just a simple rabo savings account, i could afford to put away around €900pm

A lot depends on the details of your specific circumstances/needs etc. If you do decide to invest in unit linked funds then there are better deals around on charges that Rabo.

3. yes, i have a pension with work, my contriubions are 6% of my salary.

Why not consider increasing your pension contributions towards or up to your age related pension tax/PRSI relief limit?

i need a little guidance

Have you considered getting independent, professional advice from a good authorised advisor or multi-agency intermediary?

 

[paperclip]

A lot depends on the details of your specific circumstances/needs etc. If you do decide to invest in unit linked funds then there are better deals around on charges that Rabo.

unit linked funds, no idea what these are? stocks?

Why not consider increasing your pension contributions towards or up to your age related pension tax/PRSI relief limit?

well, i'd like to save, with the option of geting savings withing 2 - 5 years


Have you considered getting independent, professional advice from a good authorised advisor or multi-agency intermediary?

you'd recomend this? i'm a prety small fish, how much would this cost do you think?

 

[ClubMan]

From the questions that you are asking I would suggest that you start by reading the AAM and IFSRA guides to savings & investments linked from the key topics thread in the Savings & Investments forum.