Banks for 110% financing

Who believes what here is completely irrelevant to me... you wouldn't believe it

And why are you making such a fuss then?

And why are you making such a fuss then?

Maybe they have nothing else to do, the money earns itself and the boredom does the rest. There is also a very fitting song for that, also about the property "The House by the Lake..."

Back to topic please.

A self-employed person without employees immediately earns 0 (zero!) euros if his labor fails. and that can happen from one moment to the next. I do not understand at all how a bank can go along with that.

I am repeatedly both shocked and amused at how the guy leads you by the nose and has such an easy game that it is barely believable.

To be clear: your objection is complete nonsense and anyone who likes that must know what they are doing. I am also self-employed and according to your definition my earnings would immediately fall to zero as well, although I have employees. But the fact is that I am the only engineer in the office and also the only one authorized to sign and carry out certain things, this is legally not possible otherwise. At most, my father can temporarily represent me because he has the same training.

But I can assure you that I still ride a motorcycle with a clear conscience because the case that I am out longer is insured. That is possible; for me it is not only simply insured but doubly so, and I don't even have additional occupational disability insurance. Including the generally included occupational disability insurance that I receive by law through my chamber contributions, my risk of failure is therefore insured about 2.5 times over. In addition, my income would only slowly decrease after 6-8 weeks, if at all. And anyone who deals a little with Steffen’s posts without frothing at the mouth knows how he does it. There are several posts from him in which he describes that he sets aside 1-2 years' salaries (!) freely or quickly available to cover such cases, and it is quite realistically possible that he uses other constructs that prevent the immediate zero.

Even if... in the worst case his house would be gone, but there would still be capital left. There are worse things for a bank.

Your/your argumentation only works if he is a complete fake, although from my point of view there is strong evidence against this since his statements have been consistently... plausible... over months/years. It may be easier for me to understand this because I act similarly in many things, but some arguments/accusations, such as the thesis "everything drops to zero from one day to the next," are simply absurd in their generality. Yes, there are self-employed people where this happens - but those who did not pay attention in school, did not learn the basics of business administration, and underestimate their real costs/risks in order to survive in the market, shift their risk exactly to this scenario.

But I do not think that Steffen does that. Even if many here obviously wish so.

Best regards
Dirk Grafe

Your argument only holds if he is a complete fake, whereas from my point of view there is clear evidence against that, since his statements over months/years consistently ... plausible ... are.

Hello,

it is like that: I do not begrudge anyone anything here. However, to me the statements are not plausible. That could be changed very easily, but it does not happen. It doesn’t have to - why should Steffen have to be accountable here, one could argue. On the other hand, no one can accuse me and others of not showing what we consider to be healthy skepticism.

Regardless of that, I would of course be interested in what such a house looks like, what is inside, etc. I openly admit that I would like to see photos - but not because it is Steffen’s house, or because I think he has to prove something here.

Hello,

it is like this: I do not begrudge anyone anything here. But for me, the statements are not plausible.

The question is, why not?

Regardless, I would of course be interested to see what such a house looks like, what is inside, etc. I openly admit that I would like to see photos - but not because it is Steffen's house.

He has listed his costs here several times, the basic house costs iirc ~450K€, which is more than average used, but not absurd. The property is in the higher price range, has a comfortable size, but also not absurdly large. On top of that, he treats himself to KNX and a few other gimmicks - and voila - he's at his total. On the other hand, there is also a corresponding lending value, because the property alone has a value of +200K€ iirc.

This is nothing extraordinary either, such things are also around in my neighborhood.

Best regards
Dirk Grafe