Mortgage Rate 8% to 9.5% rental investment possible?

[Dinesh Bhatia]

I am very keen to start a side income using real estate. I have read few books on real estate (rental property investing by Brandon Turner was my favourite) from which I came across bigger pockets.

I am from India Mumbai. However Mortgage rate over here is 8% to 9.5% currently.

If I purchase an apartment for

7,500,000 INR currency.

I will have to pay almost

62,000 INR currency as monthly EMI to bank for 15 years.

If I make it 20 years still I will pay somewhere near 50,000 INR currency as monthly EMI to bank.

Talking about the rent max I will be getting 25,000 INR even if I fully furnish it.

Is there a way to earn from Air BNB as I am planning to buy the property in a location which is near upcoming International airport nice 35 story tower good building with all amenities. It's a 2 BHK apartment.

Please Guide me.