I’ve heard about this type of loan but I’ve also heard a lot of stories about people losing both their properties due to uncertain loan fees and rules. Being adherent to safer deals, I never really considered this option. But I’ll look this through.
I’ll also head to the sections about increasing rent, thanks.
And regarding your questions, I don’t have enough to afford purchasing a bigger property or any property at all. The property I’ll receive is in a bad location where rents are pretty low and the infrastructure is not well-developed yet. With time, though, I believe it may become a region with high demand due to the expansion of the city.
Thanks TheNewGuy and FredWisley!
This reply was modified 8 years, 5 months ago by aripol.
No, in fact, it did help. I also think that having more is better than less, at least in the long term. I think at the current state of the real estate market in that area, renting out the small apartment will make just enough to cover my loan but I’m still considering a professional consultation in the near future.
Do you have any suggestions on effective ways on raising the rent? I might add more luxury furniture but what if there’s no search for more expensive properties in the region? Is there any way I could know for sure if a small renovation would be a good investment?