Am I Crazy buying house with cash with mortgaged property

[everydaylily]

@cee_the_atheist Thanks! Very interesting

 

[acuriousgirl]

@everydaylily Could be working in construction, senior engineers getting that easily now, some companies promoting lads with a year out of college because there's such a shortage of staff.

 

[resjudicata]

@acuriousgirl Really? I work in that industry, and I couldn't see anyone his age to be earning that much in construction.

 

[davem00]

@resjudicata At 26 I was on 45k by 27 I was on 59k then by 28 I was on 79k in construction. Engineer to senior engineer to contractor design engineer.

 

[acuriousgirl]

@resjudicata I’m working for a tier 1 contractor and we have some project managers younger than 26 who would be on even more than that

 

[shuffle]

@everydaylily That’s a standard salary for a software dev at that age, with approx 4 YOE.

 

[alexandratree]

@cee_the_atheist Would love to know where you can buy a 3bed for 215k which would command over 600 a month per room in rent..

 

[resjudicata]

@alexandratree Some parts of Offaly. I was fortunate to get first refusal on a house for €180k. I've a €157k mortgage using the local home authority loan. I'm renting out a nice double room in the centre of a big town for €580 per month including bills. The €14k in the rent a room scheme you can earn is inclusive of bills. Most people forget that. It's still a great way to make money and give someone a room to stay in.

 

[alexandratree]

@resjudicata Just take the bills in cash

 

[resjudicata]

@alexandratree Yeah I'm not a dodgy landlord so no, I won't be doing that. People have it hard enough as it is.