Rank: New-farer Joined: 1/10/2016 Posts: 15 Location: Machu Pichu
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obiero wrote:sparkly wrote:Larayna wrote:Well, l got a commercial mortgage balance of Kes 9 million which includes just over KES 2 million as interest. Which l service at 320k a month. With 2.5 years of the term left.
I have an opportunity to borrow Kuscco a maximum of KES 7 million repayable at 93k for 15 years.
Is it prudent I use the Kuscco loan to offset my mortgage balance, "saving" me Kes 2 million in interest, then use my monthly savings to plough into a new construction project. Or should Kuscco loan go straight into the new project
Or am l trying to put a cart in front of a horse I am not competent to comment. Instead, i ask for advice on how you made it so far. My real estate development is yet to take off the ground. One step at a time.. You will one day make it, if you commit to success Well Sparkly, You will sparkle one day. As Obiero said, take one step at a time and get wise counsel from wazuans whenever you're unsure
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