Should I do this deal?

[Jack Mccormack]

I own a property that’s unfinished. For me to finish one section of the property (large 2 bedroom unit) it would cost €50k. I could rent the unit for €750 per month.

Because the property is unfinished I am struggling to get a mortgage. I have lined up personal loans of

- €25k @ 7.9% for 5 years = €501

- €25k @ 7.8% for 10 years = €301

Should I get this unit finished and rented or should I wait and complete the entire 3 units at a lower cost?