Moving to Dublin, IR in spring 2018. Looking to connect with you.

[Marcin Dzieniszewski]

Hello there :)

First of all, as a new member, I wanted to say big and cheery "Hi" to everybody here and great "Thanks" to the BP team for their amazing work! My name is Marcin and I'm a 37 years old Pole living currently in Berlin. A few months ago I decided to take a leap and start the next chapter of my life as an real estate investor. I quickly took care of my education in the subject and have gained a lot of knowledge from the BP podcast and books.

What I have quickly realised is that Berlin market is currently overpriced and it is very difficult to find properties that will generate any cashflow. However... after spending amazing vacation in Ireland a few months ago ( I also used to live in Dublin in 2008 and I loved it - call me crazy but I even liked the weather :)) I took a look at Dublin's market and quickly noticed the yields uncomparable to Berlin - hence, I'm considering moving there in the spring.

As an absolute beginner (very ambitious but still a beginner) I have million-and-one questions, for which I'm looking for someone who I could ask these to. I'd love to connect with you guys... experienced investors and ambitious newbies like me :)

So... I'm stretching my hand to shake yours; virtually; at least for now...

Best regards

Marcin

:)

[Ronan M.]

"What I have quickly realised is that Berlin market is currently overpriced"

Dublin is as bad if not worse. Plus there is a massive housing shortage there (again) and its a total sellers market. Also the banks never fully recovered from the last RE crash. Lending is still tightly controlled and getting funding for owner occupancy and investment properties is difficult unless you are extremely well qualified. Go online every other day and read the Irish Independent newspaper. They talk about RE daily and you will soon get a feel for market conditions there.

It is a very over priced city in my opinion. Prices have sky rocked the last few years and so have rental rates. As a result they have a bunch of new taxes, rules and regulations that may it very difficult and less profitable for small time property owners. Tenants (like most of Europe) have considerable rights.

Flipping might be an option as house prices continue to rise so appreciation might be a play if you have deep pockets for cash purchases and too fund the rehab.   

As an aside they do have a considerable Polish population in Ireland so you should have no problem meeting fellow Poles.

Best of luck.