Hey guys, I’m 17 years old and I’m currently saving for a house deposit. I want to move out at 20 or a little later and put a deposit and get a mortgage on a duplex.
I would rent out one side to tenants for $300 a week (that’s the current going price) although I know that’s subject to change.
I would live in the other and rent out to 2 roommates for $100 each per week.
Say mortgage was $2,000 monthly, the tenants in the other house would pay me $1200 monthly, and combined my friends would pay me $800 monthly leaving me to pay bills and split some with my friends.
I’m just wondering if it’s a good idea to rent out to friends, it won’t ruin our friendship, etc. these two friends I have been through quite a bit with and known them both for at least 4 years +.
Any advice helps,