All Forum Posts by: Alan Byrne

I want to take out a mortgage over the next year to invest in my first property. However, there is a slight problem. Unfortunately I do not earn enough to get a mortgage as an investment. I only earn enough to get a mortgage as an owner occupier. Can I still rent a property out if I got the home on an owner occupier mortgage? All input would be greatly appreciated. Especially if you have knowledge of how things go here in Ireland.

I can buy as an owner occupier as my salary fits the guidelines, but to get a mortgage as an investment the guidelines are different. I need to be earning twice as much.. If I get it as an owner occupier do you know if I can rent it out eventually. And if so after how long? @brentcoombs

Hi guy's. I am saving up money for a down-payment to house hack. I live in Ireland so laws might be different, but I have heard that if you take out a mortgage and live in the property for one year you can then move out and rent it out. This is what I would like to do. However, I went down to my bank today and they said that in order to get a mortgage as an investment, you need to earn €70,000 per year, which I don't. I am just wondering if I get the mortgage out anyway just to live in the home can I eventually rent it out and if so, how long will I have to live in the property? The mortgage adviser wasn't very helpful and told me that I should just focus in generating the money for a down payment and then go from there. As someone who wants to invest I want to know every step I must take, both before and after I purchase my first property. Any advice would be greatly appreciated.

Hi guy's,

I have a bank account the past couple of years but haven't saved anything in it until recently. Now I am consistently saving each month for a down payment. I am just wondering by the time I save up for the down payment, will the bank give me a mortgage? Or is this something I should speak to my bank about?

Hi guy's,

I have a bank account the past couple of years but haven't saved anything in it until recently. Now I am consistently saving each month for a down payment. I am just wondering by the time I save up for the down payment, will the bank give me a mortgage? Or is this something I should speak to my bank about?

Thanks for your reply Ken I appreciate that. And yes the tax laws would be a bit different over here. Getting a private lender at present might be a bit difficult than is why I am saving up for a down payment because I can take a mortgage out... If I want to get let's say a mortgage for a house worth €100,000 I will have to put €30,000 down. I am just wondering is there any other options where I can get a lend or mortgage through banks but can do so would a lower down payment?

Again thank you Ken for you help.

Hi guy's! I am new to bigger pockets and am delighted to now be part of this wonderful community. I am 22 years of age and want to invest in real estate. However, at present I am saving and learning. I am looking to network with people around Ireland who would be willing to share tips with me to help me get started. So if you are from Ireland and would be willing to offer me some tips I would really appreciate it..

Hi guys I am new to the bigger pockets forum. I have been reading/studying real estate over the past year and would like to step foot in the game within the next couple of years. At present I am working on saving enough money for a down payment. I am just wondering what do you think I should do to generate the capital for my first property. Is taking a mortgage out my best/only bet? Cheers in advance. Alan.