I was wondering if I have some cash in-hand which pays me an interest component that can pay off the home in 8 years, I invest in a property in country like India where I get 6% (at least as of today) as rate of return per year, is it smart to fixed deposit the money and pay mortgage through interest income?
Worst case I have the money as FD and I can pay off the loan in total by breaking the FD. I do understand that it is stupid to pay interest for the loan I am taking for buying the property, but heck with it if I lose one more year or may be 2 years worth of interest income from the fixed deposit. I do not have to pay a penny from my pocket and the property gets paid by the interest from FD deposit right?
Is there something off that you see with this approach?