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A House for Investment

martingale

New member
Aside from my shop and stocks investments. I was able to purchased this property in cash that's quite a bit old already but the location is very accessible. I'm planning to make this as another investment ( house rental). And I wish to maximize the return of investment soon but I need to make some improvements first. The main problem is I do not have enough cash. Do you think a home loan is advisable or a personal loan for a renovation? Can I get a loan as much as $20000? What do you think? Would a loan sound like a good idea?
 
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lalremigiusz

New member
Banned Users
The loan make you more cost to pay it. Saving is the best choice for now. You can buy more cheaper property, fix it and sell it with higher price.
 

Aaronpp

Member
I think the mortgage loan is a bad option because in the long run it will end up being much more expensive because of the interest, your best option is to save and improve the property bit by bit and you can also choose to buy a house with a lower cost or credit application and propose to make payments soon, not to let time pass but to get out of debt as soon as possible.
 

credule

New member
I don't think taking a loan is a good idea until and unless the borrowed capital give you handsome returun otherwise interest will broke you
 

Oliver_578

New member
I agree with the rest of the posts here. Its better to get the house renovated gradually with your own money, rather than rushing on taking a loan. The interest that you’ll have to pay will put a lot of burden on you, so I won’t advise that.
 
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