Yes after discussion and thinking about all the very valid points being made in this thread - we will not go for the lot next door.
dbu:
Know any countries that are good for that? I see some adverts for investing in France on Youtube and there is a group in Zurich dedicated to property investment in the UK.
SteveDB:
You are right - we feel absolutely blessed to be in the position we are in.
Patron:
Yes that is kind of the winning argument. We want a balanced portfolio where real estate is a piece of the pie⊠not 90% and same building kind of adds to that negative side.
If anyone has an answer to Wolverineâs question I would also be curious to know!
Yes, one can buy an old property that needs renovations and you spread them out over a few years. Not free though because youâll need money and mental energy to do the renovations.
I do not have anything to add on the finance side but another drawback is the close proximity of the two units. In case the landlord lives literally next door as the tenants, if there is any issue with the rented unit itâs psychologically much more tempting for the tenants to come ring at your door to ask you to solve the said issue. Of course, as an owner you have responsibilities, no matter what distance separates you and your tenants, but the closer you are the less tenants would hesitate to ring you up even for something that falls outside of those responsibilities.
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