
ASK367: Can I cut my living costs this way? PLUS: Is my ROI calculation right?
The Property Podcast
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Renting Out Rooms - Is That a Good Idea?
A lot of people get their start in investing by renting out rooms. I think the bit that you're going to struggle with is buying that property in a limited company and being able to live in it yourself, even if the majority of the rooms are rented out. So first things to do, speak to a broker. You may then want to speak to your accountant and understand the tax implications of the different scenarios that might play out in the future. It's all important detail and you need to sort it out, but the core idea is a good one. However you structure it, it should allow you to save up well and therefore progress faster than you otherwise would.
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