E
Enda
New Member
I am 26 and I am thinking of going into property. No funds atm.
I am just confused as to how it works.
So for example if I had a property that was for sale for 100,000 and the deposit was say 20,000. If I wanted to buy this property and rent it out to a family, would I have to pay the 100,000 grand upfront or could I just pay the deposit and then use the familys monthly rent to pay the mortgage?
Would appreciate any help.
I just don't know how someone would make a profit quickly if they had to pay the 100,000.
I am just confused as to how it works.
So for example if I had a property that was for sale for 100,000 and the deposit was say 20,000. If I wanted to buy this property and rent it out to a family, would I have to pay the 100,000 grand upfront or could I just pay the deposit and then use the familys monthly rent to pay the mortgage?
Would appreciate any help.
I just don't know how someone would make a profit quickly if they had to pay the 100,000.