Hi Stephen, I am in the same situation as you are in at the moment. I am starting to think that the property market in Cape Town is not at a point where we, as first time investors, could be looking at positive cash flow from rent.
Perhaps the way to go about it for us would be to look at bank sales or auctions?
I am also interested in house hacking, I have to pay rent every month anyway so perhaps it makes sense to find a 2 or 3 bedroom house and live in one room while renting the other rooms. But the property price to rent ratio does not even allow for any benefit in this situation, even in a house hacking situation I don't see myself saving money. It seems that it is actually cheaper to rent than buy at the moment.
I hope that we are missing something here and hopefully someone with experience in the Cape Town property market will shed some light on the matter.
