Is it wise to turn my house into a rental property?

[Thoelk]

Thanks Scott for passing by and dropping some nuggets, you're nothing short of a legend! Rep to you as well! Thanks for the links!

 

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[Lee Belcher]

Have you considered turning your home into a multiple occupancy? Renting 2-3 rooms?

Or do you have the land to build a separate unit of accommodation and then renting that out for cash flow. Could you possibly turn it into a holiday rental for higher returns?

The numbers don't seem to add up at all by simply renting the house as a whole (I'm far from being an expert)

If you could bring in a return whilst also living there then your find it much easier to finance another property which meets the criteria for a good investment; basically free up the cash you already have coming in.