Buying a second property

Pincher

Pennylane wrote: »

Just putting this up for Pincher.

Fishing for compliments?

Well done! Good show! Brave lassie!:T

BTL mortgage at 3.89%, the good old days are back!

Pincher

Conrad wrote: »

If fully developed the yield could be in the order of 15%+

Tax is minimal as we exploit the 'legal' instruments available to us. The property is owned by our own UK limited co specifically set up for this sole purpose.

Why sell? I want to invest in a development project and need maximum cash.

Cash buyers only - mortgages are way too much hassle in Germany.

So, get out before EURO really heads south, eh?

These regional incentives are there because investors wouldn't go there otherwise. The return is basically the gross rental income minus all the costs. Assuming there are no maintenance costs, and your partner works for free, you are getting 10% return for your money. German banks don't like to lend above 50% LTV, so that's roughly the other 50% equity, then? Smart East German partner, he probably only has a 5% stake, but gets a steady job, which pays a lot more than the dividend on 5%.

Good luck finding a buyer.

Pennylane

Pincher wrote: »

Fishing for compliments?

Well done! Good show! Brave lassie!:T

BTL mortgage at 3.89%, the good old days are back!

Awww Thanks Pincher Like I said, the main thing was that we got this property at a price we could afford. If we make a few quid before child needs it then so much the better. Thanks for your interest.

Pennylane

Just an update to say it's all chugging along nicely.

Pincher

Many happy returns.:)