Forum Replies Created
Hi John
the loan in Germany shouldn't be an issue. Can you provide regular income evidence, e.g. payslips and an account statement with enough clear funds to pay for the deposit in Germany? Your average deal of lets say purchase price of Euro 150,000 can be purchased with a deposit of approx AUD 60,000. The net income (after council rates, services, building insurance but before management cost for an agent, repayments and rent default insurance) I would be trying to achieve is around AUD 30,000 which leaves enough after paying for your principal and interest in Germany, the property manager of lets say 10% management fee of the net income and rent default insurance of approx AUD 500 per annum to bring back and repay the deposit quickly, enhance your investment through rennovations or invest in further properties in Germany. You can ring me on 0438 818 590 and we can discuss this further if you like.
Kind regards
Rob
Hi Terry
small world I have studied in Regensburg. Does your friend work for Siemens? Re capital gains according to some media sources the market is approx 25 % under valued providing they get through this current patchy situation
Hi David
have you done some research previously? What are your findings about German realestate?
Kind regards
Rob
Hi David,
the higher LVR maybe due to my background and up to negotiations with the individual bank manager. Owning several properties in Australia I was surprised at how easy it was to get my finance approved with only Australian income at the present moment. I could see two ways of collaboration in form of a contractual joint venture (providing our investment goals are similar) or at offering my knowledge of the process in dealing within the German property market, a network of reliable people over there and ongoing support to overcome the cultural and language barriers for an agreed fee.
Looking forward to learning more about your current investment profile and strategy.Kind regards
Robert Omahen
Hi David
Germany's population is dropping by 0.2% pa. Unfortunately this is the grim reality with an aging population. Re apartment buildings you can have a look at places like Wuppertal, which has had a decline in population due to mining and heavy industry ceasing their operations in that area. There is signs that these areas are changing their face towards more high tech products and services as a shift away from manufacturing (they leave this up to China) Overall the area has approx 10 million people so even with a current drop and possibly continuing over the next decade there is sufficient population providing you are buying properties that are well maintained. Most properties I look at are fully tenanted, kept up to date with maintenance and the agent's are generally happy to let us have look at 12 month worth of bank slips to back up that all rents are flowing as advertised.
On the other hand if you are looking for areas where population is steady you may want to check smaller to medium cities with under 50000 population. These also have generally higher returns
Let me know if you need more info and may want to check this out a bit closer
Kind regards
Rob
