The Property Academy Podcast Should I Rent My Property To Friends & Family? The Honest Truth | Ep. 486
Jan 9, 2021
13:21
In this episode, we discuss whether you should rent your property out to friends and family. Our feeling is that this is a big ... no. The reasons are:
- If you rent to family, you may undercharge rent and put yourself in a worse financial position
- If you are purchasing a property for a family member it may cause you to purchase a property that doesn't work as an investment property
- If you purchase a property for friends or family, you are restricted by location, which may mean that you buy in an area that doesn't make sense right now.
Instead, we give some alternatives for how you might like to help out friends and family if that is something that is important to you.
We wrap up the episode by discussing our Porperty Academy Video course. This 19 lesson property investment video course teaches you the fundamentals of how to invest in property within New Zealand ... for free.