Hey Forum,
I need some outside perspective.
Ive found a good apartment + garage to buy.
They are sold separately, the current owner refuses to go down in price if I buy them both.
He's willing to sell the apartment without the garage.
In both cases the deal will be financed by a bank for 85% of the deal.
If I buy just the apartment, I'll have the money to furnish it right away, it'll take me something like 2 months.
If I buy it with the garage, I wont have enough money, I'll be able to furnish it in about 5-6 months.
The good news is that the garage comes with a tenant, 50 euro/m passive income right away.
I thought about buying with the garage now, and selling it a year later, which will cover about 23% of the debt. In 2 years time, by selling the garage, I'll have less debt than if I only have the apartment.
My gut feeling says, dont buy a larger liability while at the same time it says, but it'll be cheaper in 2 years.
What do you think?
Any advice will be much appreciated
I need some outside perspective.
Ive found a good apartment + garage to buy.
They are sold separately, the current owner refuses to go down in price if I buy them both.
He's willing to sell the apartment without the garage.
In both cases the deal will be financed by a bank for 85% of the deal.
If I buy just the apartment, I'll have the money to furnish it right away, it'll take me something like 2 months.
If I buy it with the garage, I wont have enough money, I'll be able to furnish it in about 5-6 months.
The good news is that the garage comes with a tenant, 50 euro/m passive income right away.
I thought about buying with the garage now, and selling it a year later, which will cover about 23% of the debt. In 2 years time, by selling the garage, I'll have less debt than if I only have the apartment.
My gut feeling says, dont buy a larger liability while at the same time it says, but it'll be cheaper in 2 years.
What do you think?
Any advice will be much appreciated
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