Buy a house with equity and loan, renovate through property sale

Was that now a gift of the parents' two houses to your girlfriend? What inheritance is being mentioned there? Why was it given away? Are there perhaps maintenance costs involved… for the houses?

Everything fits! Consult a professional for renovation!!

[*
Fortunately, the house is in pretty good shape (e.g. exterior insulation present, windows between 10 and 30 years old). €150k is the minimum assumed by the architect during the inspection:
[LIST]
[*]new kitchen
[*]new radiators
[*]insulate the top floor ceiling (attic)
[*]a new bathroom (one bathroom is only about 6 years old)
[*]expose the floorboards (there are a few layers of carpet/laminate on top) and sand them
[*]painting work
[*]electrics (partly already 3-wire (ground and 1st floor), partly still 2-wire (attic))


[*]for €220-250k the following would be added:


[*]open up floor plan downstairs for open living/dining area
[*]sliding doors from the open living area to the
[*]terrace
[*]fireplace


[*]for €300k I was thinking now:


[*]modernization of heating (year built 2002) (possibly underfloor heating on the ground floor)
[*]...

Short version: Quite a big budget for so little work. €75k for a new heating system should also be enough in the south, for the rest I would estimate half that here up north, but maybe I am now too far removed from the new reality.

Two, or rather almost four properties for just over 1.7 million and cash for almost 520,000 and income of around 7,500 euros – what exactly is supposed to be impossible??? Is this a joke?:D

I felt the same way. It's already May 1st, April 1st is over. :D

The return on both apartment buildings is very poor. You write after tax, does that mean they were inherited and the depreciation is expired? You currently only get 2.35-2.55% for 10-15 years, and with that, you pay more for the debt than what the assets generate.

the return on both rental houses is very poor. You write after tax, does that mean they were inherited and the depreciation period is over?
The 2.35-2.55% you get currently is only for 10-15 years and thus you pay more on the debt than what the assets generate.

that's true... on the other hand, we see a larger inflation approaching us... the properties can still be sold tax-free in a few years.
now taking on 600-700 thousand euros at 2-3% interest, which might in a few years only have 60-70% of the purchasing power... makes sense

instead of being debt-free, but having to sell "concrete gold" as well.

I think you just have to look at what it will be worth in the end:
- what do you get for the houses today? In the end you then have no rental income, and probably only an overpriced property (luxury)

or rather:
600 thousand euros in debt, which has lost a lot of purchasing power
plus 2 more properties, which will probably generate much more rent in 10 years than today, and are also worth much more than today

I would rather take out a loan here for 20 years, with 1-2% repayment... and then pay it off in a lump sum in 20 years through further inheritance.