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Anyone buy property to rent out?
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<blockquote data-quote="xrapidx" data-source="post: 88525" data-attributes="member: 1128"><p>Thanks for the replies guys - the price bracket is what I'm willing to pay, the actual value of the property should be around R500,000 - R800,000 - I'm not too worried about the condition, as I'm prepared to put in some work into getting it fixed up before renting it out. </p><p></p><p>Another reason for choosing this price bracket is so I can take the hit should I have non-paying tenants... although not legal, I'll probably use 'assistance' in removing non-paying renters.</p><p></p><p>I can currently afford bonding a further R1,000,000 - looking at doing this around the middle of the year, once my current finance issues are all sorted out, busy recovering from sorting out all the issues with the place I live in... and obviously the renovations late last year. </p><p></p><p>I am looking for places near to where we stay for ease of management.</p></blockquote><p></p>
[QUOTE="xrapidx, post: 88525, member: 1128"] Thanks for the replies guys - the price bracket is what I'm willing to pay, the actual value of the property should be around R500,000 - R800,000 - I'm not too worried about the condition, as I'm prepared to put in some work into getting it fixed up before renting it out. Another reason for choosing this price bracket is so I can take the hit should I have non-paying tenants... although not legal, I'll probably use 'assistance' in removing non-paying renters. I can currently afford bonding a further R1,000,000 - looking at doing this around the middle of the year, once my current finance issues are all sorted out, busy recovering from sorting out all the issues with the place I live in... and obviously the renovations late last year. I am looking for places near to where we stay for ease of management. [/QUOTE]
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