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Fancy Yourself as a Property Tycoon?
In Ireland, to bring a noisy dinner party to a complete halt, all you
have to do is turn the conversation to the subject that provokes
unbridled lust in Irish people - investment property. Sharp and
sustained rises in property values, a growing population and
historically low interest rates have combined to create lots of wealth.
And how we love to drool over our creme brulee, lost in the
spellbinding alchemy of howsmall sums of money grewinto vast fortunes.
Your fellow diners will be bathed in the glow of property ownership,
lost in a reverie about all their lovely dosh.
But dare to mention that property is just like any other asset class
and therefore can be affected negatively and cause substantial loss and
misery for those badly exposed, and you'll be sent out with the dog!
If you are considering using your SSIA and other resources to start an
investment property portfolio, consider the timing carefully. Some
market observers believe Irish property may be entering a bubble
in 2006, and many overseas markets pose other risks. This shouldn't
stop you in your tracks, but before you bail in at least know what to
expect. Remember, a property price correction isn't the end of the
world, especially if you've invested in properties with strong tenants,
like blue chip firms. On the other hand, if your exposure is to highly
geared residential units with tenants in at-risk industries, you could
face some real problems paying mortgages without rents to support you.
Investment property is a great asset for the long haul, but you need to
determine if it's right for you as a person and whether adding more
investment property to property you already hold is better than
diversifying into other assets.
So, what's at the heart of the property story? The nub of the property formula is straightforward:
Capital Appreciation + Rental income > Net Cost of Borrowing, entry
costs, stamp duty, maintenance costs, exit costs and taxes.
Click Here to Buy LOOT! The informed guide to your SSIA and other investments
© Eddie Hobbs.com
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