Get your black Ladvice T-Shirt today. Join the movement and look stylish while doing it. Not to mention 10% of all profits are donated to Irish based Charities.
Subscribe to the ladvice.ie newsletter for weekly thought provoking, inspirational and meaningful emails. You won't regret it and if you do, just unsubscribe.
@ladvice.ie gives advice on many life topics, such as Mindfulness, Fitness, Nutrition, Finance, Travel, Dating, Motivation, Fashion, Entertainment, and general life advice. We also discuss topical news/ events that happen. We aim to promote core values such as Mindset, Self Awareness, Self Acceptance and Personal Development. These are all interrelated and can impact/ effect one’s mental health. The discussion of Mental health is something the page is trying to promote and frame in a positive light. Encouraging our followers to not only view our content but be engaged, and even more important have related meaningful conversations with other followers (Ladvice community), friends and family.
To explain further about @ladvice.ie what the page is and the content we post. The mission of this page is to promote men (or people) have more open and meaningful conversations. To talk more about their feelings and to seek advice/ help from one another to help manage their problems and improve their value of life.
Ladvice.ie is available for bookings, bring ladvice closer to you or your organisation. Mindfulness, Mental Health, Personal Development, Mindset and many more life advice topics can be presented and spoken about on a one to one basis, for schools or organizations.
Well-Being, Working From Home & Attending College Remotely
Check out the podcast, available on all good podcast platforms linked below. Or listen on the website via the embedded player
Todays Episode was a pleasure to record and an important conversation to have as I know many people are finding working and attending college remotely to be difficult.
Louise Nixon todays podcast guest is currently studying a Masters in Health and Social Psychology. Louise has worked for the last year researching the affects of the move to remote working and college on peoples well-being. She brings a wealth of knowledge, along with a bright and bubbly personality to todays conversation. In which we talk about:
Importance of Wellness
The change to working remotely and attending college remotely
Positives/ Negatives of this change
Tips/ Advice on what might help improve your wellness and productivity working from home
Please do let us know what you thought of the episode and if you did find the conversation useful share it with a friend. Louise’ Instagram is linked below: https://www.instagram.com/louisenixon810/
If you aren’t already following @ladvice.ie
Links to podcast platforms are below where you can find the
Well-Being, Working From Home & Attending College Remotely podcast!
Join in on the conversation! check out our Podcast! Click the icon of the podcast platform you use.
Tom Murphy, More than just a Footballer - Everton, UCD, Wexford
In todays episode I am joined by Tom Murphy. Tom joined Premier League team Everton before just turning 16! We talk about his footballing career to date and all that has come with it.
The podcast is much more than just a chat about football with some nuggets of information and life lessons along the way. Football is a demanding sport especially when trying to reach the top of the game.
We discuss the highs and lows of Tom’s career to date, with insights into mindset, learning from past experiences not limiting yourself to them and the mental strength and resilience, Tom has displayed over the years at Everton, and after being released. Moving to Irish Clubs, UCD and Wexford.
Almost every young boy dreams of becoming a professional footballer, but not many are aware of the sacrifices that come with it.
Thanks for listening if you do enjoy the episode please share it to you social media and Tag @ladvice.ie
Join in on the conversation! check out our Podcast! Click the icon of the podcast platform you use.
For months now, Ireland has been on lockdown due to COVID-19. With social restrictions and guidelines in place for all. Undoubtably this has been a difficult time for all. Some more so than others. Many including myself have also managed to persevere and make the most of the situation and have many positives/learnings they can take from this virus that has swept the globe. There will be a separate article and podcast on this in the coming week. Stay tuned. Why not sign up to our newsletter for notifications of when a new article is released? Or Follow us on Social Medias, Instagram, Twitter, Facebook, YouTube or tune into us on Podcast Platforms.
I must say/ acknowledge, this has been such a difficult time for many and for those who did or know someone who did contract the virus and express my deepest sympathies and best wishes to them. I have personally great pride in how the nation of Ireland has managed to combat and contain the spread of Corona Virus. There has been a momentous effort by the majority of the population to uphold/ obey the restrictions and guidelines. For that I thank you.
As we begin to lift restrictions and attempt to embark on the country’s roadmap to recovery, restrictions are easing. I think the key word there is “easing”. The buzz termis “The New Normal”, the new normal means the continued implementation of some key measures taken during the efforts to stop the spread of COVID-19. Such as Social Distancing, Hand Sanitisation Stations, Regular Cleaning of Surfaces in Shops or Places of Business, Limitations to Travel, Reduced Capacity of Indoorand Outdoor events (Mainly to ensure Social Distancing), Prolonging Working from Home Arrangements where possible, Wearing Face Coverings (Particularly on Public Transport and in Shops) and more.
With all that being said it seems COVID-19 and Lockdown is a distant memory for some. They no longer follow some/ all of the above government guidelines. In the past week(s) I have seen some instances of total disregard for Social Distancing in particular, which I will discuss in more detail in a podcast. Some observations both from Social Media and Observations when out and about. 1. Crowded Social Amenities such as Parks, Beaches, Piers, Play Grounds, 2. Back to back ques for shops (we all seen the ques into Pennys in town), 3. Secret and some not so secret sessions in public areas (Large groups not just a few mates hanging around together), and lastly 4. the Quenching of Horny thirsts, out and about finally meeting that girl from Tinder you’ve been texting since mid-March and going at it, tonsil tennis and going at it like rabbits.
Something I fear may happen as restrictions ease more and more is the “Elastic Band Effect” people have been deprived of social interaction and many indulgences which were once a regular/ normal occurance. Now that we tell people they can do so (with caveats and conditions). I fear the natural instinct is to over indulge and go back to exactly how things were in a pre-COVID-19 world.
Second Wave? Inbound? I hope not!
I want to point out by writing this I am merely highlighting the fact these things are occurring. By no means am I telling people what they can and can’t do…. But try keep to the guidelines as best possible.
I respect people mean no harm nor do I suggest they are wrong for seeing their friends, family or loved ones. However, I do hope we can continue to flatten the curve and to be respectful, mindful, and considerate to health staff, the elderly and those who are vulnerable. Whilst we try to balance economic recovery and the resumption of our leisurely pleasures we so dearly missed during lockdown.
Stay Safe, look after yourself, Look after your friends, family and loved ones. Flatten that curve and lift your spirits.
Peace out! Ladvice!
So you may already have a phone bill. Or maybe you are considering getting a new phone bill pay plan. It is a minefield trying to decide what bill pay plan is the best for you. Is bill pay the best option? Maybe. It’s also worth evaluating the option of pay as you go plans, Or sim only deals. Lets look into an example of a bill pay plan.
iPhone 8 on bill pay, You get the phone for FREE!
Wow!
Personally the plan I have chosen after researching is GoMo. sim only plan for just €12.99 a month. Check out the YouTube review of GoMo below:
Another amazing deal, but there’s a catch. You now have signed up to a phone bill for 2 years (24 Months), costing you €55 a month (Based on Eir bill pay plan offered by Carphone Warehouse). That’s €1320 over the two years. To Buy the same iPhone 8 outright, no bill. Approx €600 (it can vary and is listed cheaper in other places but I’ll be fair). You’ll say but that’s with no calls texts or data? Well on Three Network you can buy €20 credit a month and get unlimited data, unlimited texts, and free three to three calls. Now lets do the maths phone was €600 + €20 (Credit Per Month) x 24 months (Same length as the contract) = €1080. (The credit €20 x 24 months = €480) – You Save €240! By buying the phone and Credit!
Thank you for reading. Hope this content helped. If you have any further questions, queries or requests, please contact us.
The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Smart Buy and Hold Real Estate Investing
Brandon Turner
‘One of life’s most painful moments comes when we must admit that we didn’t do our homework, that we are not prepared’
Investing in real estate is something I have always wanted to do. I knew from an early age that I did not want to spend my life paying someone else’s mortgage in the form of rent, and was adamant that I could achieve more than simply finding a family home to settle down in and wait until retirement.
I am a competitive person by nature, but I get incredibly frustrated when I feel that I am underperforming, or underachieving. While eager to ‘get on the property ladder’, I am even more eager to do well once I become a real estate investor. Choosing this book is one of the greatest things I could have done on my journey to become a successful real estate investor.
This book will act as your comprehensive guide to approaching real estate investing, providing you with in-depth discussion and clear, concise examples on searching for properties, funding them, screening tenants, managing tenants, and everything in between.
For those of you like myself, with zero experience, looking to equip yourselves with the tools to get started, this book will give you everything you need. I already feel knowledgeable on the steps involved in becoming a successful real estate investor.
Chapter 1: Why I Love Rental Properties
I often swing between being really excited about an investment, to thinking it must be too good to be true, but at the end of the day, investing in anything will always be about two main things, value and cash flow. This chapter will help you get a clear understanding of what to look for in a potential property for it to be a good deal.
Chapter 2: The 5 Keys to Rental Property Success
Most people, myself included, initially look at real estate because they think it will be easy cash. Rent coming into the bank account each month without having to lift a finger, passive income, early retirement, etc. While this is true to a degree, it’s just not that easy, you need to plan your deals down to the finest detail for it to work.
This chapter will explain to you how your mindset will need to be before you attempt to purchase a property, and go through the integral parts of a successful plan.
Chapter 3: Four Sample Plans
Honestly, this was my favourite chapter of the book. The guides and the theory is all great, but it needs to be practical and relatable to real life situations. If you want to do well in real estate investing you better make sure you know at least basic accounting, and if you’re not good with numbers, you better get good, because every detail matters, and if you aren’t making the right projections, a good deal can turn into a terrible deal very quickly.
These plans give a vivid description of how to accurately project whether or not a deal can be successful.
Chapter 4: The 10 Members of Your Real Estate Team
You might think this real estate thing is dead easy and you can do it all yourself once the details make sense. No. Like any successful business, (and this will be a business), you need to hire the best possible employees in order to cash flow and achieve a solid bottom line.
I don’t mean actual staff, but you will need to surround yourself with people who understand the industry and can assist you in navigating through the process successfully.
Chapter 5: Analysing a Rental Property
The more I read through this book, the more I realised how little I actually knew about how to be a successful real estate investor, I knew nothing.
This chapter will go through, in immense detail, exactly how to analyse a potential property. It is not simply mortgage payments vs rental income, there are so many more details that a novice just wouldn’t even begin to think of.
Chapter 6: Investing While Living in an Expensive Area
This will be so relatable to many of you reading this. We all know how expensive it is living and especially renting in Dublin. This does NOT mean you need to head down the country to make an investment, you just need to execute intelligently in order to be successful.
Chapter 7: Types of Rental Properties
All real estate investments are not created equal. I used to think I was going to just save up €40 or €50k and get a nice 3 unit gaff in Rathmines or something, I’d cashflow €2k in rent and I would be good to go. The fact is, it’s just not that easy.
You need to understand and acknowledge that there are many different types of rental properties, and in order to plan effectively, know what you are going for.
Chapter 8: Location, Location Location!
Again, you might think you know exactly what you want, but are you 100000% sure? You better be. Before you commit to an investment in real estate, you NEED to know every detail about the location. Vacancy rates, average rent, crime rates, flood history, the list goes on, but the lesson remains the same, do your homework before you commit.
Chapter 9: How to Find Rental Properties
This is something I have honestly been neglecting, I thought it was the least of my concerns, but there is so much competition in this industry, particularly in Dublin due to the high rent, you need to think outside of the box here.
Ask yourself honestly, could you find 100 potential real estate investments per year? Where would you start? Because that is what will be required.
Chapter 10: Which Properties Make the Best Rentals?
This book is full of valuable information, phenomenal insight into what to look for and what NOT to look for when navigating this landscape. Like me, many of you are probably confident you have what it takes, driven and focused on being successful.
I found myself regularly taking deep breaths going through this book, grateful for the insight, as I have already avoided so many mistakes myself just from reading about all the potential red flags that I would never have thought of.
Chapter 11: Submitting Your Offer
Being a successful real estate investor is something I aspire to be, and I’m slowly realising that the only way to achieve this goal is to make as many offers as possible. There are specific details, clauses, and contingencies that go into making offers on real estate that never even crossed my mind.
This chapter will go through exactly what is required in making an offer, and how to improve your odds on being accepted.
Chapter 12: Real Estate Negotiation
Anyone who has ever read the book ‘In Business As in Life – You Don’t Get What You Deserve, You Get What You Negotiate’, written by Chester Karrass, will already understand how important this part of the process is.
The discussions you have with your lawyer and the property owner can make or break your deal, and a great deal won’t be easy to find unless you’re willing to fight for it.
Chapter 13: Financing Your Real Estate Investment
Reckon you know what you’re doing on this end? I thought I did. I fancied my chances of AIB giving me a decent mortgage, and with my First Time Buyers Clause, I could get a 90% LTV rate and find a great deal in no time.
Yes, this is the plan for most of us, but it’s not the only way to finance a deal, and you could argue that there are much better ways.
Chapter 14: How to Get a Loan Approved, Guaranteed
You’ll find as you read this book that all is not as it seems, nothing is black and white, and no two deals are going to be the same. This chapter opened up my eyes to the fact that there are certain things that banks are looking for, and there are different ways to approach the loan application process.
Chapter 15: The Due Diligence Process
With no background in real estate investing and zero knowledge of property law, I found this chapter incredibly useful. There is a specific way of operating when you get to this stage of a deal, with many things to be wary of.
While I am nowhere near a deal being reached myself, after reading this book, I feel a lot more equipped on how to handle myself when I do arrive in this scenario.
Do not jump into the purchase of a property until you, and your lawyer, are satisfied that all is how it seems.
Chapter 16: Getting Ready to Close
This was another chapter that emphasised to me just how important it is to dot all the i’s and cross all the t’s as a deal can really go up in flames at any stage of the process, and you’ll need to be prepared.
The closing of a real estate deal can be expensive, but there are handy ways of approaching the process, and the manner in which Brandon Turner goes through his personal anecdotes make it much much clearer to folk like myself who are very early in the research process.
Chapter 17: Managing Your Rentals – Part 1 & Chapter 18: Managing Your Rentals – Part 2
Oh, so you thought once you have the keys, that you’re done? Time to retire and go chill on the beach? This may be a bitter pill to swallow, but once you’ve actually closed the deal, that is really where all the hard work begins.
Even if you’ve managed to close a phenomenal deal on paper, you need to have your ducks in a row in order to make sure it’s a successful real estate investment.
Chapter 19: Exit Strategies and 1031 Tax Exchanges
I recently went through the process of asking every single person I knew about the equivalent of a 1031 Tax Exchange in Ireland. An Irish Solicitor by the name of Terry Gorry eventually got back to me with some useful information.
Terry is also a real estate investor and has a YouTube channel with some helpful videos.
This chapter will drilldown how important it is to educate yourself on real estate as a whole before committing, and fully understand the numbers in a deal before it’s too late.
The last thing you want is to make loads of cash on a property, only to lose your capital gains to the tax man.
Chapter 20: Final Thoughts
I would recommend dropping any ego you’ve got about investing before picking up this book. I thought I knew exactly what I was doing, and was completely humbled.
This is a book designed to assist you in avoiding mistakes, saving years of trial and error and equipping you to be a really successful real estate investor.
I plan to revisit this book again next year, as it has taught me many many lessons on the industry, and I plan to use it as my bible for real estate investing for the foreseeable future.
** Disclaimer when submitting a Tax claim for a calendar year, you will only receive a Refund/ Money if you have overpaid tax in that calendar year. If you have underpaid tax, you could potentially owe money. (Generally, this won’t happen, or if it does the sum of money should be small. **
*This is advice and not instruction it is documented with the intent to help people understand more about the process. Individuals are responsible for completing their own tax reviews. *
You will need to ensure your employer has
completed your P60 before you go through this process. (Well ideally you should,
it’s harder to complete if this hasn’t been done.)
Once logged in, you will see the below
screen:
To commence this click Review your Tax 2016-2019:
Click to submit an Income Tax Return
Enter/ Confirm your Personal Details
Review you PAYE Income for the calendar
year. (This should be populated already from the P60 which your employer has completed.)
Declare your Non-PAYE Income. To explain
what this includes it is essentially income you have received that wasn’t from
working in a job you are paid through payroll.
Confirm/ Submit your Tax Credits/ Tax Reliefs.
Your tax credits should already be applied,
and the Tax reliefs contain a list of prepopulated options.
One which may be of particular use is your
medical expenses. If you have had medical expenses throughout the year you can
submit these. Do not falsely declare expenses, you may be asked to provide
proof of these expenses.
Lastly you must declare that all of the
information you have submitted is truthful. Essentially that you have submitted
the information honestly and not attempted to understate income and overstate expenses
with the intent of benefiting financially.
The process is actually quite simple
provided you have the appropriate information they request. Please let us know if
this advice was helpful or if there is any information missing.
