By the like of you purchasing this property, whether you refurbished it to rent or for resale, you are bringing a property back onto the rental or resale market that would otherwise lay dormant and unused as most people that need a place are not in a position to, first of all purchase the property from a sale like this and secondly gather the additional funding to carry out the renovation to it, even the timelines from purchase to getting the electricity connected again would potentially spell disaster for a buyer looking to purchase the property as a live-in as they would find it difficult to fund everything until such time as they would be able to move into it permanently.
Fair play terry... People expect everything too easy.. My parents lived in a mobile home for 4cyears while trying to build their 1000 square foot house house bit by bit.. A small mixer, working evenings and weekends. We moved in with no internal doors. And absolutely nothing done outside including footpaths.. People now expect to get a fully completed 1500 square foot house for less than it costs to build and kit them out.. 40 hours a week work is pathetic, do 20 or 30 more learn how to nail 2 pieces of timber together
Terry, when you calculated the net annual income you deducted the management and agent fees and multiplied that by 10yrs. Giving a 10% return. If you deducted the c. 50% tax as a private landlord, your project is barely financially feasible? Or am I missing something? BTW why is that the landlords are the bad guys. They take all the risk and the government take nearly half the monthly rent no risk
Buy it in a company and reduce that tax massively…. Not sure if that’s what he did but that’s what most do who are taxed at 69% or whatever the crazy rate is…. Personal Holding Company is that way forward for high earners
Life is similar to the seasons of the year. Good times and, bad times when the wheat is separated from the chaff. Terry, the figures are appreciated. Top man.
I'm in a job where I interact with the public on a daily basis and in my 40+ years of this I have come to the conclusion that 90% of people are neither good or bad and 5% are exceptionally nice and 5% are complete arseholes no manners no kindness whatsoever and obviously have serious personal issues. Theres no way this 5% should affect anything you do in Your life and I say "Publish and be dammed " I like All your videos love some and park my feelings on some. Happy new year and keep on rolling.
@@kenwalsh7723 jaysus ken ye have the whole world sorted out! good on ye! maybe ye should retire to a mountaintop as a hermit and have pilgrims come from far and wide to elicit your sage and august opinion.
Terry has put in a serious amount of work over the years to get to where he is, including major setbacks. He got to where he is through his massive work ethic. People moaning can do that too. Unfortunately, they're too busy moaning to do so.
That's absolute nonsense. I do the same job as people living in beautiful houses whereas I'm left with absolute dirt. The only difference is they are 20-30 years older. Compare the houses doctors, solicitors, teachers, bankers can get now vs what they could get in the 1990s up until the crash in 2007/2008.
@thankstrek5759 it's overpriced because of lack of supply. That lack of supply is for multivariate reasons. My entire generation is getting screwed on housing. The statistics show it. They overrule your feelings.
@@jamesnugent1256 it’s the same story in a lot of countries. Ireland has developed a tremendous amount over the last generation or two . There’s a lot more demand for houses and a lot less supply. You can’t complain because somebody in your position might have had an easier time in the past. Things don’t always stay the same. What are you whinging for? What do you want somebody to do for you?
To my shame I was mindlessly scrolling through FB one night a few months ago and I came onto a random SF clr FB page and he had a post up slagging Terry off for buying the apartment in Cork.
Terry, you need to get a nice powerful LED flashlight in your car, maybe in a wee tool bag you keep in the car, to use when you are landlording or stewarding about your town properties. Your phone might have a flashlight mode but that might crimp your battery supply when also using it principally as your video camera. Very nice property and all the window views are fine - I'd live there. If you were the tenant, though, you might find trouble with that community patio, as your neighbours might gather round that door to watch your bakery and cooking.
On the vespa,get a can of that foam in the autofactors keep it under the seat,small wheel on the vespa so a can would get you hoome or at least off the road.
Another excellent video Terry. Curious to understand how the NOI could be 1500 from a 1600 gross...surely the monthly expenses are in excess of €100. Would management charges alone not be around €200? Not to mention insurance, RTB fees. LPT, repairs and so on. Would love to hear your feedback on this as it has been s ahow stopper for me assessing the potential yield on property investemnets
watching from dublin if you are buying apartments or houses then other people who really need them to live in cannot get one do not hoard properties you ng people need to be able to buy them too many landlords in this country
Thank you for another interesting and enjoyable video and for taking the risk of providing an apartment for someone to live in. The free market has been continually interfered with and this is why there is a shortage of housing or surplus of home seekers. Your scooter puncture problems remind me of a story about a youngster in the mid 70s who was walking back to coolock from the television club, just after leaving, the high heel on one of his platforms broke off. Next day his dad asked him, how did you manage son, the reply was, I had no choice but to rim it!
Like the legal commentry ,i can understand the years put in studing training but the fees charged by yourself and your colleagues is way over the top an absolute rip off ,the houses cars life style business of the back of a lot of ordinary average waged people being "LEGALLY " overcharged but the law has no conscience or empathy !!!! Ethical!!! No heart from Terry Gorry solicitor !! Silence speaks volumes !!❤
20% on uo to 40 k a year 40% on over 40k a year From that tax you pay, management fees and outlay expenses, repairs upgrades etc Keep you pads top notch taken from taxable part of rental income
Not bad nick at all. Buying unseen is such a risk. I know one guy who did it only to find out the sewage outlet was blocked and had backed up inside. Dont mind the begrudgers, a home is a home be it rented or owner occupied and the rental market has even bigger supply problems so you are providing a much needed service. Best of luck with them and may 2025 be the best year ever.
Do it up and sell it on the private market. Rent less tax and expenses. Is it worth it Terry? At least you will save on solicitor fees if you sell it 😂
You didn't mention a mortgage in your valuation at the end so I assume didn't need one. Also there are building management/maintenance fees which will only increase and affect the value. I would keep the property if you have a positive cash flow as property values continue to appreciate and it will be a while before supply meets demand. I would have a concern about the management of the building as it looks a bit tired. Looks like a good investment.
Investing in anything can be tricky. Rents are high because houses are expensive. Houses are expensive because foreclosures are legally cumbersome, so properties in default which would have been sold in the past, are prevented from going on the market. The government compensates the banks for the laws which prevent them from simply selling the houses that are being defaulted on. That compensation would have been the bailouts, so no wonder all the non Irish banks pulled out of the market. The government can afford to persue such popular but costly policies mainly because credit is cheap. It is cheap because the multinationals here make the government credit worthy. Well, Trump takes power in a week from now and his tariffs may shake things up a bit. 2025 will be an interesting year if the multinationals begin to pull out. I have noticed in recent times, several multinationals have announced expansions to their Irish opperations but could these expansions be to serve a smaller market when the main plant closes? Time will tell. If they do begin to pull out, things will change very quickly. I think Ireland is one of the countries where bank bail-ins might actually happen. My reason for thinking this is the government is absolutely determined not to allow the correction in house prices (the one it interupted in 2012) from finishing what it started. When revenue tanks and the cost of borrowing surges, when the banks are screaming for another bailout, then bail-ins may serve as the proverbial kitchen sink. Once that has been thrown, then the correction will proceed uninterupted as the government`s enablers in the ECB and IMF will have troubles of their own to contend with.
No tow companies in Ireland? and isn't there an Irish Automobile Association that with membership provides a tow service? As to haters and such: if you get any comments you think discouraging just purge them out and get on with a more peaceful life. Including any of mine that seem oppressive (I oppress myself enough I don't consider half of what I think or say).
According to the CSO, 58% less people in the age cohort 30-34 own a home now in Ireland than they did in that equivalent age cohort in 2011. I hope you are happy eating supply for a few extra coins.
Read the stats in 1984 people paid 14% of their salary towards their mortgage, now it approximately 7.5% … but back then people were not drinking cocktails , expecting landscaped gardens, new cars , foreign holiday for the first decade of their mortgages . Important to put information in context …Also in early 80s the interest rates on mortgages was in the 20% range not in the 3% range like today….remember the time you refer to was the time of the Celtic Tiger when people seemed to have zero regard to being responsible for their finances… when people thought it was ok to buy but not to pay back what they owed
@@jacquelineoreilly8555 in the 1980s the average house price to average wage ratio was approximately 3-1. Today it is closer to 10-1. Although interest rates were higher in the 1980s the overall amount to pay including interest was less on average. My own wage is higher than the highest average household income area in Ireland (Malahide). Just my singular wage. I am not living lavishly and am saving about 1.2 grand a month. I need a deposit of €50,000 to get an old crap low BER rating dump. I am also one of the many here paying outrageous rents. You keep telling yourself it's fair. As a qualified financial adviser and certified financial risk manager, I am telling you it is not.
Terry, hopefully by the time you elect to retire, you will be on your second round about the Ireland-Opoly Monopoly board and got yourself the full set of properties and both the keep out of jail and keep out of hospital cards too.
❤ Never the people who are complaining they should use your videos to motivate themselves you have worked hard for what you got you reap what you sow may god bless you
Leech on society. How many more homes will you buy up to wring the last penny out of the young people in this country to prevent them buying a home using your hoarded wealth? How are you so shameless to keep doing this? Your avarice knows know bounds.
@@tomgreene1843we have a housing crisis. Because old, rich bastards keep buying up all the homes so they can profit off the misery of young people who can't buy homes. He didn't buy it to give it to a person that needs a home. He bought it to leech rent off them while providing nothing to society. Same as all the other properties he bought up.
Never mind the begrudgers. I’m in the same boat, but I concentrate on commercial. It’s amazing how the nicest tenant can go from your best friend to your arch enemy when you request a 10% rent increase after 3 years when inflation was 7% to 8% a year! ‘Landlord’ is a bad word to most in Ireland - tenants don’t realize we’re also running a family business that’s risky and is subject to increasing costs (interest rates, insurances, letting fees, maintenance works all going sky high in price). Publish your videos and never mind the haters. Ireland especially is full of begrudging folks, who hate to see people getting on, even after being wiped out in 2008, you get zero sympathy or understanding from some. it’s part of the Irish culture unfortunately.
The irish government are doing everything to make property investing less attractive. But where else can people put their money to get a return. Theres no place other than high risk investments.
Landlords play a vital role in the irish economy and in my view we need more private small scale landlords. I think the tax system on rent needs adjustment for tenants and landlords and its better than having large scale funds owning property.
Terry I'll paint that apartment for cash and I'll do it ASAP. I have plenty of experience and a good team just respond to this message and we'll do a deal
sorry, i know your a decent man terry, but i fundamental disagree, the words rent and investment shldnt be in the same sentence. if you are renting you shld own the property outright, and be in it for the long haul, rents shld be set at reasonable prices i.e. rent prices, not 'you'll pay my mortgage' prices based on an ever fluctuating market, its a service you shld supply and not 'you will be by investment portfolio', it shld be banned really. people in Europe rent for decades at regulated rates and landlords either sell it off after x amount of time or bequeath it to children who rent it out themselves. i am not against making a long-term profit or gain but this idea of market based charging is abhorrent, rent shld be rent, fair rent, regulated rent, this is a hangover from imperial days and everybody is at it.
@@terrygorry ahh c'mon now terry cards on the table, how much was your first time rent, mine was 1997 an apartment on rathgar ave (not the cheapest area in world either) cost me 25 punts a week that equates to about 56 euro today, granted yours is a two bed but that nearly 4 times the cost today. like i hear you talk purely and only in terms of cost, investment, returns, other costs, like its a product full stop, like it may as well be a parking space, in fact you might get a better return for a parking space. anyway its your business, do what you want its free country, i just think that type of rent is scandalous to be fair, twould be better to sell it on to a buyer who can make something of it. rent should be rent particularly residential rents.
Nice wee flat there for someone, Terry. You've bought a place that was uninhabited and renovated it so it's liveable again. I'm sure it'll be lovely once it's finished, and someone will be very glad to rent it. Good on you, and thanks for sharing.
@@monkeyx17 I hear ye but Terry isn't a charity, and for all we know he supports various charities that help those who are struggling/ less fortunate. He seems like that sort of fella to me. And I bet he's an excellent landlord. x
@@katherinealba6768 True, but it had been sitting empty for 2 years and either the landlord had no interested in renting it out, or there was little interest with it in the current state. I'm glad to see an empty flat being used, and to see a responsible and trustworthy landlord. I know the housing crisis in Ireland is fierce, but if someone's investing in property I'd rather it's a person like Terry than a shark. And some people only want to rent, for one reason or an other. Choosing to think positively on this one!
Keep smiling, Terry. forget these naysayers, using your hard earned money for the good of others and taking the risks to profit. "Absolute satisfaction" is viewing your video on these matters. People out there listen and learn from this man.❤
Good man Terry very informative video you have empty apartment ready to rent you created work and materials in restore it you are going to pay tax on your income happy days.
Not a landlord myself or even a property owner. I’d say it’s more to do with government policies. It’s a cheesy old saying “don’t hate the player, hate the game”.
Terry Don’t you remember the old people always carried a puncture repair kit on their bikes and motorcycles Best of luck with your development F the begrudgers Happy25 from Sunny Western Australia in mid summer 22 this morning
Great videos, fair play to you, turning round empty properties for the rental market.Ignore hateful comments. it's just jealousy from the type of person who would be happier living in N.Korea.
By the like of you purchasing this property, whether you refurbished it to rent or for resale, you are bringing a property back onto the rental or resale market that would otherwise lay dormant and unused as most people that need a place are not in a position to, first of all purchase the property from a sale like this and secondly gather the additional funding to carry out the renovation to it, even the timelines from purchase to getting the electricity connected again would potentially spell disaster for a buyer looking to purchase the property as a live-in as they would find it difficult to fund everything until such time as they would be able to move into it permanently.
Fair play terry...
People expect everything too easy..
My parents lived in a mobile home for 4cyears while trying to build their 1000 square foot house house bit by bit..
A small mixer, working evenings and weekends. We moved in with no internal doors. And absolutely nothing done outside including footpaths..
People now expect to get a fully completed 1500 square foot house for less than it costs to build and kit them out..
40 hours a week work is pathetic, do 20 or 30 more learn how to nail 2 pieces of timber together
Terry, when you calculated the net annual income you deducted the management and agent fees and multiplied that by 10yrs. Giving a 10% return. If you deducted the c. 50% tax as a private landlord, your project is barely financially feasible? Or am I missing something? BTW why is that the landlords are the bad guys. They take all the risk and the government take nearly half the monthly rent no risk
Buy it in a company and reduce that tax massively…. Not sure if that’s what he did but that’s what most do who are taxed at 69% or whatever the crazy rate is…. Personal Holding Company is that way forward for high earners
I love it... 2007 all over again. The Irish obsession with property keeps going and going.
Life is similar to the seasons of the year.
Good times and, bad times when the wheat is separated from the chaff.
Terry, the figures are appreciated. Top man.
Are BidX repossessed properties.
Id feel uncomfortable making a gain from other people's misfortune and suffering
I'm in a job where I interact with the public on a daily basis and in my 40+ years of this I have come to the conclusion that 90% of people are neither good or bad and 5% are exceptionally nice and 5% are complete arseholes no manners no kindness whatsoever and obviously have serious personal issues. Theres no way this 5% should affect anything you do in Your life and I say "Publish and be dammed " I like All your videos love some and park my feelings on some. Happy new year and keep on rolling.
@@kenwalsh7723 jaysus ken ye have the whole world sorted out! good on ye! maybe ye should retire to a mountaintop as a hermit and have pilgrims come from far and wide to elicit your sage and august opinion.
Terry has put in a serious amount of work over the years to get to where he is, including major setbacks. He got to where he is through his massive work ethic. People moaning can do that too. Unfortunately, they're too busy moaning to do so.
That's absolute nonsense. I do the same job as people living in beautiful houses whereas I'm left with absolute dirt. The only difference is they are 20-30 years older.
Compare the houses doctors, solicitors, teachers, bankers can get now vs what they could get in the 1990s up until the crash in 2007/2008.
Don't be talking nonsense,most people work hard,this. Is one of the reasons why property is over priced
@thankstrek5759 it's overpriced because of lack of supply. That lack of supply is for multivariate reasons. My entire generation is getting screwed on housing. The statistics show it. They overrule your feelings.
@@jamesnugent1256 it’s the same story in a lot of countries. Ireland has developed a tremendous amount over the last generation or two . There’s a lot more demand for houses and a lot less supply. You can’t complain because somebody in your position might have had an easier time in the past. Things don’t always stay the same.
What are you whinging for? What do you want somebody to do for you?
To my shame I was mindlessly scrolling through FB one night a few months ago and I came onto a random SF clr FB page and he had a post up slagging Terry off for buying the apartment in Cork.
Terry, you need to get a nice powerful LED flashlight in your car, maybe in a wee tool bag you keep in the car, to use when you are landlording or stewarding about your town properties. Your phone might have a flashlight mode but that might crimp your battery supply when also using it principally as your video camera.
Very nice property and all the window views are fine - I'd live there. If you were the tenant, though, you might find trouble with that community patio, as your neighbours might gather round that door to watch your bakery and cooking.
On the vespa,get a can of that foam in the autofactors keep it under the seat,small wheel on the vespa so a can would get you hoome or at least off the road.
Another excellent video Terry.
Curious to understand how the NOI could be 1500 from a 1600 gross...surely the monthly expenses are in excess of €100. Would management charges alone not be around €200? Not to mention insurance, RTB fees. LPT, repairs and so on.
Would love to hear your feedback on this as it has been s ahow stopper for me assessing the potential yield on property investemnets
Good points. no way would 100 euro even cover the management fee never mind all the other expenses.
watching from dublin if you are buying apartments or houses then other people who really need them to live in cannot get one do not hoard properties you ng people need to be able to buy them too many landlords in this country
Why don't you have a breakdown cover for your motorbike? Could have made things easier for you?
Fair play to you Terry for still having a few peat briquettes 😊
Scarcer than cocaine 😉
Thank you for another interesting and enjoyable video and for taking the risk of providing an apartment for someone to live in. The free market has been continually interfered with and this is why there is a shortage of housing or surplus of home seekers. Your scooter puncture problems remind me of a story about a youngster in the mid 70s who was walking back to coolock from the television club, just after leaving, the high heel on one of his platforms broke off. Next day his dad asked him, how did you manage son, the reply was, I had no choice but to rim it!
Best of luck with the apartment Terri .. the metre may just need to be topped up ...very informative video well done🎉🎉
Nice tidy property in a great location, it’s a nice spot edenderry, a mature town land, with very nice people, Best of luck Terry with the renovation.
Like the legal commentry ,i can understand the years put in studing training but the fees charged by yourself and your colleagues is way over the top an absolute rip off ,the houses cars life style business of the back of a lot of ordinary average waged people being "LEGALLY " overcharged but the law has no conscience or empathy !!!! Ethical!!!
No heart from Terry Gorry solicitor !!
Silence speaks volumes !!❤
Good job terry
What about the tax that you have to pay? Does that seriously affect the net yield? I didn't hear you mention tax on rental income.
20% on uo to 40 k a year
40% on over 40k a year
From that tax you pay, management fees and outlay expenses, repairs upgrades etc
Keep you pads top notch taken from taxable part of rental income
Well done Terry on a very informative video, best of luck with it!!
Not bad nick at all. Buying unseen is such a risk. I know one guy who did it only to find out the sewage outlet was blocked and had backed up inside. Dont mind the begrudgers, a home is a home be it rented or owner occupied and the rental market has even bigger supply problems so you are providing a much needed service. Best of luck with them and may 2025 be the best year ever.
What an idiiotic answer, you're either employed by T Gorry or the government because nobody can be this dimwitted.
Terry would you ever consider doing a investment club??
Maybe, how would it work?
Very informative video. Thanks for sharing and good luck with the property, looks like a great purchase.
One man's loss
is another man's gain
#Foreclosure/ BidX1
Do it up and sell it on the private market. Rent less tax and expenses. Is it worth it Terry? At least you will save on solicitor fees if you sell it 😂
You didn't mention a mortgage in your valuation at the end so I assume didn't need one. Also there are building management/maintenance fees which will only increase and affect the value. I would keep the property if you have a positive cash flow as property values continue to appreciate and it will be a while before supply meets demand. I would have a concern about the management of the building as it looks a bit tired. Looks like a good investment.
BidX1 purchases are not suitable for mortgage dependent buyers.
Great video as usual. Just but a battery in the smoke alarm!
Investing in anything can be tricky. Rents are high because houses are expensive. Houses are expensive because foreclosures are legally cumbersome, so properties in default which would have been sold in the past, are prevented from going on the market. The government compensates the banks for the laws which prevent them from simply selling the houses that are being defaulted on. That compensation would have been the bailouts, so no wonder all the non Irish banks pulled out of the market. The government can afford to persue such popular but costly policies mainly because credit is cheap. It is cheap because the multinationals here make the government credit worthy. Well, Trump takes power in a week from now and his tariffs may shake things up a bit. 2025 will be an interesting year if the multinationals begin to pull out. I have noticed in recent times, several multinationals have announced expansions to their Irish opperations but could these expansions be to serve a smaller market when the main plant closes? Time will tell. If they do begin to pull out, things will change very quickly. I think Ireland is one of the countries where bank bail-ins might actually happen. My reason for thinking this is the government is absolutely determined not to allow the correction in house prices (the one it interupted in 2012) from finishing what it started. When revenue tanks and the cost of borrowing surges, when the banks are screaming for another bailout, then bail-ins may serve as the proverbial kitchen sink. Once that has been thrown, then the correction will proceed uninterupted as the government`s enablers in the ECB and IMF will have troubles of their own to contend with.
Happy new year ya family
Keep up your good work
What tax would you pay on the 1500 gerry just wondering is property a good investment
Pretty sure it's 52% tax for higher earners. It's treated as pay income after allowable expenses.
Paye income
Could you do a video on how the whole Bidx1 process works? Thank you
Man after my own heart, make the most of the 🌞 days. Most bike policy's cover breakdown/
Best of luck with it
Top man, hope you and your portfolio are doing well 👍🏻
How much maintenance 1600 seem good
y normally Vulture funds use bid x I believe Same as some solicitors work far vulture funds. Karma u think it exists.
Only thing with.buying apartments no.here new york every.time do work in building maintenance goes up some times more that morgage
Looks like a nice apartment. Good luck with it.
Thanks for the video Terry.Ignore the haters
What motivates you more, profit or the buzz?
The buzz.
@terrygorry
Thought so, good on ya. Those BidX1 buys are not for the faint hearted.
What part of Derry is that.?
Edenderry Co Offaly
eden
😭😭😭
It's neither Derry and most definitely not Eden - as in garden of....
Such a bleak and miserable town.
Terry is more of a Londonderry kind of guy, as sworn to the crown, to get his shekels & shillings ! Lol
No tow companies in Ireland? and isn't there an Irish Automobile Association that with membership provides a tow service?
As to haters and such: if you get any comments you think discouraging just purge them out and get on with a more peaceful life. Including any of mine that seem oppressive (I oppress myself enough I don't consider half of what I think or say).
According to the CSO, 58% less people in the age cohort 30-34 own a home now in Ireland than they did in that equivalent age cohort in 2011.
I hope you are happy eating supply for a few extra coins.
Read the stats in 1984 people paid 14% of their salary towards their mortgage, now it approximately 7.5% … but back then people were not drinking cocktails , expecting landscaped gardens, new cars , foreign holiday for the first decade of their mortgages . Important to put information in context …Also in early 80s the interest rates on mortgages was in the 20% range not in the 3% range like today….remember the time you refer to was the time of the Celtic Tiger when people seemed to have zero regard to being responsible for their finances… when people thought it was ok to buy but not to pay back what they owed
@@jacquelineoreilly8555 in the 1980s the average house price to average wage ratio was approximately 3-1. Today it is closer to 10-1.
Although interest rates were higher in the 1980s the overall amount to pay including interest was less on average.
My own wage is higher than the highest average household income area in Ireland (Malahide). Just my singular wage. I am not living lavishly and am saving about 1.2 grand a month. I need a deposit of €50,000 to get an old crap low BER rating dump. I am also one of the many here paying outrageous rents.
You keep telling yourself it's fair. As a qualified financial adviser and certified financial risk manager, I am telling you it is not.
@@jacquelineoreilly8555what are you talking about? People are not spending 7.5% of their salary on their mortgage, they're spending 50%.
Well done nice property
I appreciated your openness with your business. Thanks for sharing.
If you flip it and buy another one, how do you fare out for tax?
CGT liability, if I make a profit. I would prefer that problem, however, than the other one ☝️
Hardy bugs and migits in Cork even the frost won't kill them😅😅
Great video, terry .and don't mind the naysayers ,very nice apartment, and good location .
Nice wat sit out side thire
Shouldn't be workin on a Sunday. And not be worshipping mammon. It’s unseemly and icky to witness such “in your face” avarice and acquisitiveness.
😂😂
Apt tour starts 4.00.
Great job Terry 👏
Terry if you own and live in a house how long do you have to live in before you can sell it so you don’t pay any capital gains tax
There’s no time period provided it’s your principal private residence
@ thanks
Another good video Terry. Did you consider the impact of tax in net income calculation?
You gonna rent it out for 2000 a month ??? Money is my God ......
Terry, hopefully by the time you elect to retire, you will be on your second round about the Ireland-Opoly Monopoly board and got yourself the full set of properties and both the keep out of jail and keep out of hospital cards too.
Good luck with your purchase Terry
❤ Never the people who are complaining they should use your videos to motivate themselves you have worked hard for what you got you reap what you sow may god bless you
He worked hard to be born in the 1950s? Why didn't I think of that.
Really enjoy your videos, I am a bit surprised you let negative comments stop you posting. Best of luck with the properties.
Feck the begruders property looks good best of luck with it
Good man, love the grind and the hussle love the transparency.
Leech on society. How many more homes will you buy up to wring the last penny out of the young people in this country to prevent them buying a home using your hoarded wealth? How are you so shameless to keep doing this?
Your avarice knows know bounds.
He saved money and bought an apartment....what's the problem ?
@@tomgreene1843we have a housing crisis. Because old, rich bastards keep buying up all the homes so they can profit off the misery of young people who can't buy homes.
He didn't buy it to give it to a person that needs a home. He bought it to leech rent off them while providing nothing to society. Same as all the other properties he bought up.
Terry👍 nice one best of luck, ignore the begrudgers .
Great video Terry, really thanks, don't see anyone else doing such great open disclosure of the numbers like you do.
Great to have money
Even nicer to work hard and appreciate it .
@@Johnny_murrays_cousinabsolutely
@@Johnny_murrays_cousinabsolutely
Great that people work hard for their money
@@suzanneobrien2180absolutely
If hold it for few years get.some money back make cheap.property. seee off then
nice enough, be top class after a bit of work, best of luck with it.
Never mind the begrudgers. I’m in the same boat, but I concentrate on commercial. It’s amazing how the nicest tenant can go from your best friend to your arch enemy when you request a 10% rent increase after 3 years when inflation was 7% to 8% a year! ‘Landlord’ is a bad word to most in Ireland - tenants don’t realize we’re also running a family business that’s risky and is subject to increasing costs (interest rates, insurances, letting fees, maintenance works all going sky high in price). Publish your videos and never mind the haters. Ireland especially is full of begrudging folks, who hate to see people getting on, even after being wiped out in 2008, you get zero sympathy or understanding from some. it’s part of the Irish culture unfortunately.
Gorry is a solicitor not a landlord, but is in property like a landlord,
If it walks,talks and act like a duck eh.
If those are your concerns,then don't get into it,inflation on what,interest rates are going down
How much was it
Great Video keep the good work up well done 👍
Best luck how one cork go ya
Good, new video (#3) about the Cork one coming soon.
The irish government are doing everything to make property investing less attractive. But where else can people put their money to get a return. Theres no place other than high risk investments.
Obviously you. Must be charging your customer fairly heavy
Great video
Fair play to you Terry, nice property. Your 're a decent man i couldn't see you hammering anyone for big rent. 👍
Well done,Terry, continued success in all that you do and every good wish to you and your family in 2025,take care,Kind regards, Padraig
Landlords play a vital role in the irish economy and in my view we need more private small scale landlords. I think the tax system on rent needs adjustment for tenants and landlords and its better than having large scale funds owning property.
Jesus Terry slow down with moving the camera around, I was getting dizzy with all the moving!!!
More power to you Terry !! Happy New Year to you and your family
Terry I'll paint that apartment for cash and I'll do it ASAP. I have plenty of experience and a good team just respond to this message and we'll do a deal
sorry, i know your a decent man terry, but i fundamental disagree, the words rent and investment shldnt be in the same sentence. if you are renting you shld own the property outright, and be in it for the long haul, rents shld be set at reasonable prices i.e. rent prices, not 'you'll pay my mortgage' prices based on an ever fluctuating market, its a service you shld supply and not 'you will be by investment portfolio', it shld be banned really. people in Europe rent for decades at regulated rates and landlords either sell it off after x amount of time or bequeath it to children who rent it out themselves. i am not against making a long-term profit or gain but this idea of market based charging is abhorrent, rent shld be rent, fair rent, regulated rent, this is a hangover from imperial days and everybody is at it.
You don’t have to agree or disagree.
Learn how to write first then mind your business.
@@terrygorry ahh c'mon now terry cards on the table, how much was your first time rent, mine was 1997 an apartment on rathgar ave (not the cheapest area in world either) cost me 25 punts a week that equates to about 56 euro today, granted yours is a two bed but that nearly 4 times the cost today. like i hear you talk purely and only in terms of cost, investment, returns, other costs, like its a product full stop, like it may as well be a parking space, in fact you might get a better return for a parking space. anyway its your business, do what you want its free country, i just think that type of rent is scandalous to be fair, twould be better to sell it on to a buyer who can make something of it. rent should be rent particularly residential rents.
Who needs one more house like a beach needs more sand.
Very nice apartment. Like the courtyard area. Congratulations 🎉
Fay play to your keep going
Well done
Thanks for showing us Terry,besta luck it with it !
Nice wee flat there for someone, Terry.
You've bought a place that was uninhabited and renovated it so it's liveable again. I'm sure it'll be lovely once it's finished, and someone will be very glad to rent it.
Good on you, and thanks for sharing.
i agree with everything apart from the renting bit.. give it to familys who want to buy a house and own it themselves
@@monkeyx17 I hear ye but Terry isn't a charity, and for all we know he supports various charities that help those who are struggling/ less fortunate. He seems like that sort of fella to me. And I bet he's an excellent landlord. x
It wasn't uninhabitable.
It needed internal updating, that's all.
This project was on the low side of needy
@@katherinealba6768 True, but it had been sitting empty for 2 years and either the landlord had no interested in renting it out, or there was little interest with it in the current state.
I'm glad to see an empty flat being used, and to see a responsible and trustworthy landlord.
I know the housing crisis in Ireland is fierce, but if someone's investing in property I'd rather it's a person like Terry than a shark. And some people only want to rent, for one reason or an other.
Choosing to think positively on this one!
Best of luck
Congrats on yr purchase, very interesting video
Keep smiling, Terry. forget these naysayers, using your hard earned money for the good of others and taking the risks to profit. "Absolute satisfaction" is viewing your video on these matters. People out there listen and learn from this man.❤
Learn fucking what
Good man Terry very informative video you have empty apartment ready to rent you created work and materials in restore it you are going to pay tax on your income happy days.
nice property terry ,follow up video very interesting good luck with it
Well done do not mind the begrudge.
This is why young couples can't get on the property ladder , greedy landlords
No, it’s not. I will sell this to a young (or old) couple.
100%
You don't know what you're talking about Mary.
No greedy landlords greedy people
Not a landlord myself or even a property owner. I’d say it’s more to do with government policies. It’s a cheesy old saying “don’t hate the player, hate the game”.
2000k per month?
Terry
Don’t you remember the old people always carried a puncture repair kit on their bikes and motorcycles
Best of luck with your development
F the begrudgers
Happy25 from Sunny Western Australia in mid summer
22 this morning
With the ever increasing volume of people coming into the country, property is the business to be in.
Always was,it's why garda,army etc etc ,solicitors like GORRY become landLORDS. No difference between these and the English landlord
Great videos, fair play to you, turning round empty properties for the rental market.Ignore hateful comments. it's just jealousy from the type of person who would be happier living in N.Korea.
Why people can’t find apartments and yes you deserve all the negative attention and comments.
Great videos Terry. Good man. Don't pay any attention to the begrudgers.