Real estate Is it good to use loan to buy real estate property?

kayode10

VIP Contributor
As the population of the world keep increasing so the housing deficit. the price people are paying two rents an apartment is getting higher by the day.

All these make real estate a lucrative investment in such a way that people will be always look for shelter. As we are all know that shelter is one of the basic needs of humans.

Sometimes an opportunity become but someone may lack enough cash to secure the opportunity. If you find yourself in such situation, the first step is to ask friends and family to lend you some money.

Sometimes you might not see money from friends and family. I want to ask that can somebody obtain loan just to buy a real estate property that will fetch him passive income?
 

Sotherefore

VIP Contributor
Well since real estate property like land is an investment that can appreciate over a period of time yes, I can say that people can get a loan to buy a real estate property as long as you will be able to pay back the loan within the agreed period of time. You should have other source that you will use in generating the money to pay back to the owner.
 

Good luck

Verified member
It is very possible to use loan to acquire any property of one choice as long as the property will be use for business,l mean for tentage or leasing for Some period of time.but if the property is for residents,then the person that gets the loan must be a working class person to be able to pay back as planned from the bank
 

btaliat

VIP Contributor
What is the purpose of the land? For investment according to your post? If yes, then that is the best form of loan I can advice someone to obtain. We need a loan that will work for us. This will aid the quick and promo repayment of the loan even with interest.
 

Jonaville

Active member
Yes I believe a person can borrow a loan to invest in real estate properties. Real estate is a type of investment that appreciates over a period of time, so it is certain that the person will actually see way more than the amount he obtained as loan. So it is actually easier to pay back.
 

Titilopemi1

New member
Yes you can get loans to acquire land at a reputable area and a reliable source,not just anywhere.
Also make sure you have another source where you can easily be paying back the money gradually as scheduled because you might end up losing that land to the loan agents.
Real estate business is good when you deal with good people.
 

Bashbash

Active member
If it's property you want use a loan to buy a house or land you can take a loan and make sure people renting the house is working class that is earning very well in other to pay back on time, because you will use house to rent for some people ,they won't pay as at when due.
 

Abigael

Valued Contributor
Yes, I think that it is a wise idea to take a loan in order to buy a real estate property who value will increase with time. When you don't have money and you cannot borrow from friends and family, taking a loan becomes your best option. The good thing with this is that you will earn profits and end up paying back the loan.
 

Jasmine

VIP Contributor
If you can pay your loan and if you have income source to make timely repayment, I think it is a good idea to invest in real estate property with a loan. IN fact a lot of real estate investors are investing in properties through a bank loan. The most important thing is repayment.
 
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