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Real estate investment:Is the idea of loan to purchase land or house advisable?
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[QUOTE="Kendy, post: 211471, member: 63869"] Personally, I would not suggest or recommend taking of loans to purchase a real estate investment no matter how low the interest rate might be. The only reason I might opt for loan in purchasing a real estate investment is if I am using the property or land for commercial purposes but if it's just as a source of shelter, then I would opt for other alternatives or wait till I have saved enough. Taking a loans to purchase properties will actually be pressurizing to me in the short or long run especially if I'm not doing something substantial to repay the loan in time. Albeit, there are some cases where one can opt for loans to invest in properties and the risk factor is not really high when it comes to real estate especially if you opt for urban areas or settlements where it is not prone to insecurity or inter-ethnic clashes or crisis and also it has less risk factors if purchased in urban settlements because it is not really prone to hazardous effects like flooding. The point is, if you have no alternative, then you can opt for the loan but you should be strategic about where you purchase the property so you can make double increment to repay the loan as at when due. [/QUOTE]
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Real estate investment:Is the idea of loan to purchase land or house advisable?
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