Buy to Let Investment Property in Ireland-Factors to Consider Before Investing

[@trulyforyou443]

If every senior and successful person SHARES his opinions with youngsters then this will be such a correct world. I do feel that the youngsters don't look for seniors experience and seniors dont share there experience easily.

[@pet_cow_5452]

Absolutely brilliant information. Thank you Terry. Liked, subscribed and now off to watch the rest of you content!

[@terrygorry]

Thanks and welcome

[@HRShanghai]

Being a landlord in Ireland is just a nightmare. My friend's tenants moved out while my friend was away for holiday. No last month payment, house was badly damaged. If I had money, I would rather buy a holiday home. PRTB is getting paid by landlords, but mainly protects tenants's rights. Anyway, thanks for your video.

[@terrygorry]

Yes, it is very difficult, I discovered this a long time ago😉👍

[@fergalreidy9669]

@@terrygorry if you are tough, take your time picking tenants.....and u should get lucky...............

[@charlesmatthewkelly5598]

brillant video, its very difficult to get straightforward info regarding the Irish property market. id like to see more like this. thanks

[@amit.bhardwaj]

Alright Terry. Thank you for sharing the valuable knowledge. From now on I'll be your listener.

[@davejmanning544]

Cheers Terry. Wise counsel as always.

[@terrygorry]

No worries👍

[@johnnyocvinylrecords1079]

Thank you for this clip... The Irish housing sector certainly is unique in many respects. Top man Terry👋

[@nellyp.6082]

Thanks very much for the straightforward information Terry. Find your videos very interesting, keep it up!

[@jamescrowther1234]

I was going to do this in the UK, but I'm a first time buyer and using a LISA so I can't get a buy to let mortgage :(

[@martinmichael0001]

Terry thanks so much for your time spend for so many of us on your videos and incredible value information. All the best Martin from Cork.

[@terrygorry]

Thanks Martin 👍

[@aa1z00]

Thanks a lot Terry. Very very useful. I plan to do in long-run. So very useful info. indeed

[@tchakhoian]

Terry, thanks a lot for the video!

[@colmcronin9560]

What about just renting out a room in ur house?

[@paulcolin9071]

Thanks

[@Crissss380]

Hello! How much is the privat consultation with you about investing in property, in out case? Thanks( we don t have a property in ireland, we are first time buyer)

[@terrygorry]

Ring the office 👍

[@deskennedy6671]

Great video, have u ever encountered someone buying a house, changing garage into granny flat and renting out both the house and granny flat ?thanks

[@terrygorry]

Yes, no problem but if you are to do it right you will need planning permission and the work should be carried out in accordance with the building regulations

[@deskennedy6671]

Thanks Terry, great video

[@orrixgirl]

Do you think I've any hope looking for a bit of land around kildare for 10g I've seen cheaper land in rosscomon..

[@terrygorry]

You might get a bit of land but you may never get planning permission, if that is your intention

[@movingforward7005]

Is it legal to do a back round check on a potential tenant with Garda before you rent to them?

[@terrygorry]

Garda will not give you information about a potential tenant

[@PB111627]

If you like being the game being relentlessly, ruthlessly stalked by numerous predators but principally the Charity industry and big government then by all means invest.

[@movingforward7005]

Good info, how long does it take for a bank to approve a loan on a buy to rent property and what cost are the solicitors fee's,yours and there's.

[@terrygorry]

Depends on the bank, the application, the property value, the solicitor-lot of variables

[@johnmagee4388]

Terry, thank you for these clear and very informative videos. I have a question about correspondence marked ‘without prejudice.’ And when it’s protection might be set aside: If a correspondence contains a clear and provable falsehood on a matter of fact, could the ‘without prejudice’ protection be lifted if the falsehood vindicated one of the parties in court? Many thanks for your help.

[@terrygorry]

John, there are some exceptions to the application of this rule. You will learn more here:businessandlegal.ie/without-prejudice-communication-in-legal-proceedings-what-you-should-know

[@henwen6080]

Hi, would you recommend staying away from the Donegal border areas/villages? Thanks for all your work

[@terrygorry]

No, no reason to recommend that. You can get value and get rode anywhere 😉

[@henwen6080]

@@terrygorry Thanks

[@jcdog1000]

Hi Terry, I have a question if you don't mind. If A person buys a house (in a rent pressure zone) which had previous tenants in it ( but those tenants move out when I buy the house) and I get new tenants in. Do I have to keep the rent at the same level with the new tenants as the previous tenants had with the last landlord? Much appreciated any help from you

[@terrygorry]

Joseph, I don't know the answer to that question but I am sure a Google search or the Residential Tenancies Board website would provide that information easily enough.Good luck 👍

[@jcdog1000]

@@terrygorry thanks

[@karlodagi5602]

Hi Terry, great video. Did anything change regarding the expense of the interest rates? I read something on the revenue page that this is not possible anymore. Is that true?

[@terrygorry]

Not sure what you are asking but Revenue is a reliable source of information

[@karlodagi5602]

@@terrygorry Hi Terry this is the information provided by Revenue: Mortgage Interest Relief Mortgage Interest Relief is tax relief on the interest you pay on a qualifying mortgage on your home. Mortgages taken out after 31 December 2012 do not qualify for this relief. Would that mean if we buy a let to go property we would not be able to expense the interest of the mortgage?

[@Mamobo96]

Would these measures still apply is you are renting out a room in the property and you the landlord is living in the other?

[@terrygorry]

Same broad principles apply to property investment, and have not changed for many years, to be honest

[@CORRIGEEN71]

By no means am I interested in any type of violence, however I do happen to be 6ft 4 and quite active, if I physically removed my tenants from my rented house with proof of rent default on theur parts, how would the law treat me jail or fine, it would be my first offence,??

[@terrygorry]

Depends on the judge and all the circumstances of the offence

[@jethro690]

Big man 6ft 4" Lmao🤣 Just so you know if you physically impose yourself on any individual, they are within their rights to protect themselves using lethal force if necessary. Don't take the law into your own hands pal, you could lose a lot more than just unpaid rent.

[@kts8317]

Hi Terry That’s for the info in the video Can you tell me does the tax system here support landlords with depreciation against the property like they do in the US ? The US has a very favorable tax incentive system towards real estate investing I might give you a call sometime on it for a chat or arrange a meeting with you after covid restrictions are back to normal in time Please advise

[@terrygorry]

Capital Allowances/depreciation is relief against income tax that’s allowed on items that are purchased to furnish your property. The current allowance is 12.5% of the cost over 8 years. Typically this would be furniture and fittings, not the building itself. Have a look at thiswww.revenue.ie/en/property/rental-income/irish-rental-income/what-expenses-are-allowed.aspx#:~:text=This%20is%20known%20as%20'wear,purchased%20for%20your%20rental%20property

[@kts8317]

So no depreciation on the property so like the US. That’s a very attractive tax benefit they have over there and can use the losses against personal income taxes or other business tax so that no tax or very minimal tax is paid, The ROI of any investment property in Ireland must be very low as there’s so much downside and not a lot of upside it would seem ? It’s broad question but I’d imagine it’s less than 5-6% on most properties if a mortgage is used to purchase ?

[@6578981]

Hi, thanks for your video. I want to buy a house soon and it will be my first house but what if I decide to rent it in a couple of years with the First Time Buyer Scheme? Can I do that? Is there a workaround?

[@terrygorry]

Revenue can claw it back if you don't live in the house for 5 years

[@6578981]

Thanks, I have to live there the first five years soo.

[@6578981]

Hi again. What if we rent a room and share the house? Can we do that as First time buyers? Thanks

[@6578981]

Hi again. What if we rent a room and share the house? Can we do that as First time buyers? Thanks

[@mikeflannery7905]

Great video and very informative. I'm 50 with young children and am now finally looking into investing for their education and future as well as some sort of retirement. I have been watching hundreds of hours of KZbin videos on investing in shares and property, and have come to the conclusion that Ireland is so socialist that it is almost hostile to investors and frowns on any ambition to grow wealth, especially since the crash (a crash that happened 14 years ago and still used as an excuse).

[@IRISHSNIPPET]

It’s a little bit like taking cocaine did I hear right 😳😆

[@terrygorry]

Yes, you sure did😀 Not that I would know, but the empirical evidence points in that direction 😉

[@IRISHSNIPPET]

Terry Gorry Solicitor I hope you don’t 😆 quick question Terry is there anyone out there that will allow me to release my equity in order to buy to let?

[@terrygorry]

@@IRISHSNIPPET Doubtful, to be honest, but you will need to shop around the various lenders

[@007alg]

Thanks