Hi All,
Need your opinion.
Has anyone ever sold your property and then rented it back off the new owner for a fixed period of time like 6 or 12 months......if so was it easy to find someone who was up for it etc?
My situation is I live in our PPOR which is a very nice 2 year old townhouse in Ardeer (pocket in Sunshine) which we love and is pretty much brand new and top quality.
At the same time we are building our new PPOR in another area but in order to help with finance I'm thinking of selling our current PPOR to someone who will hopefully like to buy it but isn't in a rush to move (think a couple getting married or an investor etc) and then rent it back from for $1500 (market rate) until say the end of this calendar year or 31 Jan 2016. The townhouse is worth somewhere b/w 370-400k so the $1500 per month will likely cover the fall interest I believe or very close to it.
What do you guys think of the above strategy, what are my chances of finding someone who'd be up with the above, ie letting us rent it back off them?
Thanks
Need your opinion.
Has anyone ever sold your property and then rented it back off the new owner for a fixed period of time like 6 or 12 months......if so was it easy to find someone who was up for it etc?
My situation is I live in our PPOR which is a very nice 2 year old townhouse in Ardeer (pocket in Sunshine) which we love and is pretty much brand new and top quality.
At the same time we are building our new PPOR in another area but in order to help with finance I'm thinking of selling our current PPOR to someone who will hopefully like to buy it but isn't in a rush to move (think a couple getting married or an investor etc) and then rent it back from for $1500 (market rate) until say the end of this calendar year or 31 Jan 2016. The townhouse is worth somewhere b/w 370-400k so the $1500 per month will likely cover the fall interest I believe or very close to it.
What do you guys think of the above strategy, what are my chances of finding someone who'd be up with the above, ie letting us rent it back off them?
Thanks