Financing | Single-family house | Feasibility | 2nd rank

For a rental apartment, you also have to have reserves to withstand possible losses. I don't see that with the OP either. Everything on credit

I am taking this statement in good faith.

Provisions for the condominium are separately available. Once privately and once in the maintenance reserve.

Furthermore, it is a social housing apartment. Only quick and superficial renovations are done, definitely not extensive and only if absolutely necessary.

I am willing to take that statement at face value. Moreover, it is a social housing unit. They only do quick, superficial renovations, never elaborate ones and only if absolutely necessary.

But then the rent will never really increase, and the advertised value increases here are also unrealistic.

Then the rent will never really increase either, and the value increases advertised here are also unrealistic.

exactly, I also wonder how a "social housing" can have a value over 300k

At a value of 300,000 euros, the current cold rent yields a pre-tax return of 2.4%. And this is with the currently valid rent cap in Berlin, so no chance for higher rents. Therefore, the 300,000 euros are moonshine prices for me and not realistic.

600€ cold rent for a 300k value would be a purchase price factor of almost 42. A typical value for Berlin could be 33, then the value would be 240,000€. No idea how condition and tenants influence the factor.

It doesn't matter, it won't be sold anyway. Also due to the emotional attachment that was mentioned here in passing (supporting the tenant in communication with the authorities ...). It's always difficult when investments are tied to emotions, it makes one incapable of action.

To put it simply: the apartment can be mentally crossed off, it is irrelevant in this constellation. It is not sensibly mortgageable, the capital is tied up in it, and selling it is undesired and probably nowhere near as profitable as hoped.

Then what remains on paper is 100% financing and the desire to additionally finance the incidental purchase costs. This is usually done through a consumer loan with corresponding conditions. Unfortunately, there are already significant consumer debts.

As a result, this will simply not happen. If it does, then only at a very high cost. Not to mention that it is unreasonable. There is definitely a risk of over-indebtedness here.