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R2i with all RE but no cash ?
Posted: Mon Mar 09, 2009 9:53 am
by nextgen
Anybody here in the situation I seem to be in ? I have invested in 5 RE properties (all plots) in India, one still has pending mortgage of 25L. If I pack up and go today, I would end up using all cash savings to pay off that last mortgage in India. I'm trying to see if how common is this situation since RE mania was widespread in last few years, and what minimum cash is generally advised to have, before r2i'ing, for which I will have to stay here longer to save.
R2i with all RE but no cash ?
Posted: Mon Mar 09, 2009 11:25 am
by maeswaran
Yes, this could be a problem.
Immediate liquidation of RE may not give the expected returns in the present market.
It is better to have adequate (relative term) cash while R2I ing at this point of time
R2i with all RE but no cash ?
Posted: Mon Mar 09, 2009 11:58 am
by ubn76
Move only if you can get a job within a few months. Things are bleak here. RE is on a downward spiral.
R2i with all RE but no cash ?
Posted: Mon Mar 09, 2009 12:42 pm
by itsmeagain
Atleast try to save ur principal money from real estate and if possible convert all of them to cash. All the hyped up properties in the cities are going down to 1998 levels, if not atleast 2000 levels..
cash is the king in this market.