1 in Dublin or 2 in the country?

[heatherwight]

@feuerbach No wonder theirs a shortage of housing with this level of greed.

Fair play for getting to where you are financially but bloody hell you see a housing crisis, families out on the street because they either can’t find a house or afford the long term high rents and you say yes I’d like to make this worse and profit off the misery.

Country is gone to the dogs with greed and we only have ourselves to blame this time round.

 

[banemlamgi]

@heatherwight Why is this greed? How is he trying to profit on someone's misery?

 

[heatherwight]

@banemlamgi Look around you, Ireland is facing a housing crisis for years now and is only getting worse.

It's greed because OP already owns their home and has made the decision to "Invest" so they can get a nice profit each year off the backs of a basic human need that people need houses and all the houses are getting bought up by those that can creating a monopoly effect.

This basic human need is being treated like a cash cow for those with the funds to buy like OP does.

These are real families, real people, all trying to get by but the likes of OP sees this as a money making exercise just like the investment funds buying up anything and everything in the name of profit.

It's disgusting particularly contextually for Ireland where not too long ago we fought against Absentee landlords of the past.

 

[banemlamgi]

@heatherwight So those that are renting, who should they be renting from? The OP didn't say let me buy a place in Dublin, cram in 15 people and not register the place with the RTB or declare any taxes. Nor did he say let me put it on AirBnB and who cares if it's empty half of the time.

 

[heatherwight]

@banemlamgi It doesn’t matter who they’re renting from, what does matter is the laws and controls in place to attempt and balance a very uneven playing field.

The rest of your argument is nothing but a Fallacy of relative privation. “It’s worse over there so what I’m doing is grand”

 

[feuerbach]

@heatherwight I worked every hour given, day or night for the past 25 years and made every penny I have. NOBODY ever handed me down money, neither I won the lottery. My money is earned with my sweat and blood, and I’m not some kind of vulture fund. Now, I am in a position to sit back, relax a bit and free more time to spend with my 3 little kids and dedicate them the time they deserve. Yes, rentals is probably the highest yield investment at the moment and I’ll be paying my taxes on that and not sponging on the government. Your comment is very bitter and ignorant not knowing me or my situation.

 

[heatherwight]

@feuerbach My comment is bitter, seriously? Completely ignore the part where I said fair play for paying off the mortgage and having 250k saved nor did I elude you were handed any free money.

You’re talking about family but at the same time go buy 2 properties rent them out to possibly 2 other families who are now stuck under your thumb paying an unsustainable rent also at the cost of family life.

No one can blame you for wanting what’s best for your family but bloody hell do you see the irony of what you’re contributing to.

It’s no secret even two income family households are ending up on the streets at no fault of their own be it out of not affording the increasingly high rents or sheer lack of availability but you go right on ahead and add fuel to that fire to make yourself a little warmer.

Call me bitter, jealous whatever makes you feel better but I have a distaste for those that see a vulnerable housing market as nothing but a cash grab and screw the other people suffering the consequences.

 

[heidi8]

@heatherwight Ironically, a lot of people are ending up on the street due to a lack of rental housing, and now we have well-meaning people deterring and driving out the people who would make rentals available to people.

The problem isn't landlords, the problem is a shortage of property to own and rent.

 

[feuerbach]

@heatherwight We’ll have to agree to disagree here. As a single investor buying properties I am contributing to the rental market by keeping the houses available for renters. The other option would be them being taken out of the rental market, let’s say by first time buyers making their primary residence or vulture funds that are really in the game of bleeding everybody and paying very little taxes. Any of these scenarios will “add fuel to the fire” one way or another. Renters who can’t afford to buy can think like you about people buying to live. And I don’t see the housing market as a cash grab cow, but definitely a good source of investment and income. Having 3 kids, the apartments will be a great starting point for them in the future. Wouldn’t you help your kids if you could by setting them up on the property ladder??

 

[kitty80]

@feuerbach 7% is a bit low to make it work

 

[feuerbach]

@kitty80 Around 9% in the country at the moment. It’ll be a nice complement to my partners wage. We have absolutely zero debt and coping well with only one wage at the moment, so 7% looking attractive.

 

[kinzie]

@kitty80 Why though? If he is buying in cash?

 

[vescd]

@feuerbach Recessions happen once every 7 years in history.

Once in forever it results in a 50% decline in house prices (2008)

Don’t base your decision on something we’ll likely never see again in our lifetime

 

[feuerbach]

@vescd That’s the hope anyway