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

P

paperclip

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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?
 
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
 
paperclip said:
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
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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.
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Why not consider increasing your pension contributions towards or up to your age related pension tax/PRSI relief limit?
i need a little guidance
Click to expand...
Have you considered getting independent, professional advice from a good authorised advisor or multi-agency intermediary?
 
 
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.
 
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