I am just curious to know if any Investors are renting a house for themselves and if it is the best thing to do?
Dom[exhappy]Hi Dom,
If you own your own home, then this is not necessarily the best option as you can simply borrow the equity on your home for deposits.
Steve McKnight rented out because he didn’t own his home and so lowered his repayments that he would rather make if he purchased his own home.
The other advantage to renting out is that if you run a business or company from home, you can rent your home out to your company (which you really own anyway) and claim this rent as an expanse. You can’t claim your loan repayments as an expense. This is what most of the rich do and pay as little tax as possible. Its smart but also legal. Take care. Hope this helps.
Kind Regards,
George.“If You never never ask, you’ll never never know”
I just signed off on my 12th property and rent. Renting AT THIS TIME in Sydney makes more sense than purchasing in a market that is heading south. However, as the market softens and rents rise then I will purchase, or maybe I’ll never purchase and go overseas three times a year, like I do now.
Spider
We rent a property from our own Trust.
Our landlord is fantastic! He furnishes the place & emsures repairs are kept up.
Cheers,
Aceyducey
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