A year ago, I borrowed $400,000 at 8% rate of interest to invest in a property .

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A year ago, I borrowed $400,000 at 8% rate of interest to invest in a property . The property generated an annual rental income of $22,000. In the third year, I invested $30,000 in renovating the same property. Ultimately, in the fifth year, I sold the property for $600,000. How much money would I be left with at the end? Is it a good deal or no? What do you think about 8% rate ?

Posted Date: May 18, 2024 02:13 PM

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A year ago, I borrowed $400,000 at 8% rate of interest to invest in a property .

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