In the process of potentially relocating for work. Employer may not pay for a mortgage but will pay rent.
Question is could I potentially buy a house and rent it to my employer for me to live in. Market rate for rent is 1100, mortgage circa 600. Leaving additional money to renovate/live off.
Alternative option could be for parents to buy the house outright ( recently came into some money) and rent to me providing a yield of 8 to 9% on their investment. Obvious danger is house falls in value. Location 10 minutes outside major Midlands town.
All very fresh in my mind and not familiar with implications in rental sector.
Would obviously clarify with company first that this was ok.
Reason for thinking about this is nothing suitable to rent.
Appreciate any input, alternative suggestions, what am I not thinking of?
Thank you.
Question is could I potentially buy a house and rent it to my employer for me to live in. Market rate for rent is 1100, mortgage circa 600. Leaving additional money to renovate/live off.
Alternative option could be for parents to buy the house outright ( recently came into some money) and rent to me providing a yield of 8 to 9% on their investment. Obvious danger is house falls in value. Location 10 minutes outside major Midlands town.
All very fresh in my mind and not familiar with implications in rental sector.
Would obviously clarify with company first that this was ok.
Reason for thinking about this is nothing suitable to rent.
Appreciate any input, alternative suggestions, what am I not thinking of?
Thank you.