All Forum Posts by: Justyna Ilczuk

Hi there, are you planning to have a property abroad and be an abroad investor, investing in Ireland and living in US?

This might get tricky, because you need to know all the tax and other regulations. I've been living in Ireland for almost 5 years and I have been doing some abroad investing in Poland (where I am from) and I'm planning on expanding more into investments in Ireland.

Btw, since you are planning to rent for Airbnb, you should learn about the Irish Airbnb regulations:

https://www.citizensinformation.ie/en/housing/owning_a_home/home_owners/renting_your_property_for_shortterm_lets.html

You need to register it with the government and get a permission to do it in the Rent Pressure Zones. Killarney is in one of the rent pressure zones. More about the zones here: https://www.rtb.ie/rent-pressure-zones In practice, getting the Airbnb permit might be very hard in certain places. It is in Dublin for sure, but I don't know about Killarney.

I would generally think about multiple exit strategies, e.g. how would this place work as regular rental, could you sell it later? Also, who would help you set the rental up? This might be a lot of work and require a lot of trust from your side.

Hey Andrew! Welcome!

There is a facebook group for Irish investors that is getting some regular traffic: 

https://www.facebook.com/groups/propertyinvestorsireland/about/ it's private, but I don't think it's hard to get in once you request it.

Also, look at meetup.com, there are some events sometimes:
https://www.meetup.com/EntreprenuersUnite/events/271631089/
https://www.meetup.com/Dublin-Real-Estate-Investing-Meetup-Group/

I hope that helps!

Hey George, are you aware of 

https://www.initiativeireland.ie/lend

it looks very legitimate, I looked into it and even read through some of their documents, but I'm not investing with them right now, because I would be very highly taxed from lending (high income earner problems...). With some google search I also found: 

https://www.propertybridges.com/

which seems to also be solving the same problem.

I would be interested though in playing a developer maybe at some point with Build To Rent. I find the concrete houses quite fascinating. Usually the time of construction and finding an eventual buyer later are the biggest risk to the developer. But with houses like these
https://modularconcretehomes.com/

https://www.irishexaminer.com/breakingnews/business/solid-system-for-house-builds-847980.html

the building time would be very short. This could potentially be a great investment, provided that it is built in the right place.

Hi Vladyslav, I'm based in Ireland as well. Are you in Dublin?

Check out the Dublin's real estate meetup: 
https://www.meetup.com/Dublin-Real-Estate-Investing-Meetup-Group/events/

Joe, thanks for the info, however I looked up this group and they seem to be inactive now. Last post I could find is from 2018 and their website seems shut down. Funnily enough, the Schoolhouse is just next to Gasworks (like within 100 meters), so that would be in a very similar location.

Hi there Irish based investors. I've been living in Ireland for a bit more than 4 years right now and I want to meet more Irish Real Estate investors. The only meetup I found in Dublin, Ireland was targeted at Polish people with talks in Polish... Which is great if you are Polish, but not for anyone else. I'm trying to fill this gap of meetups with organizing a new one:

https://www.meetup.com/Dublin-Real-Estate-Investing-Meetup-Group/

Sign up, show up, I will be excited to meet you there! I'm flexible about anything about this meetup (dates, topics, place...) since it's still in its inception.

Looks like the meetup.com actually cost money to organize meetups. Hopefully this investment pays off. I created a group and announced two meetups. 
https://www.meetup.com/Dublin-Real-Estate-Investing-Meetup-Group/events/

I'm new to meetup organizing so feel free to give me any feedback. Thanks and see you there!

I have two dates in mind when I would be available 15th February and 14th March, both Saturdays. What do you think? We can do both :).  If Grand Canal Dock area is fine with you I would propose to meet up at ~3pm in the Gasworks Pub. Good public transport connection with Dart, shouldn't be crowded at this time of the day.

We can discuss a variety of topics - starting from our goals and experience to reviewing recent legislation changes... (
https://onestopshop.rtb.ie/ has good resources)

I'm interested in opening a local forum for the Irish property market. I can't find how to create a local forum.

Carl, as a person living in Ireland and having invested in Poland, a similar situation to Marcin, I can give you some highlights.

You can get properties much cheaper (e.g. comparing to Dublin) and get a good rental yield. E.g. for buy to let mortgage in Ireland you need 30% downpayment. This 30% for a property in Dublin might be enough to buy a property in Poland in cash. Good cash flow, no debt. In general it might be hard to get financing for such international deals. Also, there is some currency risk, since Ireland and Poland use different currencies.

Apart from that, taxes are a big factor. Ireland has huge income taxes. For me rental profit in Ireland would be taxed at 52% marginal rate (high earner problems...). The rental income in Poland is taxed 8.5% (assuming this income is not remitted to Ireland). Potentially you could use depreciation to lower the Polish rental tax even more. But that requires more paperwork. Also, property taxes in Poland are tiny (think 50 euro a year range). The Irish ones are not very high, ~couple hundred euro a year.

There are lots of smaller and bigger differences. For now in planning to expand in Ireland to take advantage of mortgages.