Is it worth taking loan to buy a property?
Hello! I am new here and I don't know anything about investing an that is why I am here. I have researched and learnt that managing property is very hard because there will be no one to look after it so you'll be obliged to hire a manager to look after it. However, I know some regions of my city where people rent a shop ( for example, in a shopping mall) and they get monthly payment for that and they don't even have to look after their shops because the person who took it on rent will be forced to clean it and maintain it (because his customers wont find it appealing to enter a dirty shop lol). Is my plan stupid? Let's say if someone takes a lot of loan from bank to buy a piece of land in a shopping mall ( a shop) or any other shop in a populated area o f the city and puts it on rent and then pays the loan through that rent. Is it doable or just stupid? I was concerned about property management but then I thought of this plan in which I wont really need to manage it. Any advise?
Posted Dec 23, 2019, 1:15 AM UTC