Baufi82
2014-05-26 17:39:13
- #1
Hello.
In my hometown, there is currently an interesting offer available. I would like to get initial assessments from people with expertise to find out whether my project is feasible or rather characterized by some kind of madness :)
On offer are a two-family house and a single-family house on a total of 3000sqm of land.
Both units in the two-family house are rented out, the single-family house would be owner-occupied.
The purchase price is stated as €520,000 from a private seller, so there is no commission to be paid.
Monthly rental income from the two rented units currently amounts to about €1600.
I bring approximately €22,000 in equity (checking account), €10,000 (ongoing building savings contract) and currently about €6000 (housing Riester contract).
My monthly income from a permanent position at a university hospital is currently about €1900, my girlfriend contributes a net income of €1400 in a current temporary position.
Is the financing feasible? How high would our recommended equity participation be, or can the financing be covered solely by the rental income?
As an absolute layman, I appreciate any serious advice, and if further information is missing, just let me know, then I will try to answer it as best as possible.
Best regards, Baufi82
In my hometown, there is currently an interesting offer available. I would like to get initial assessments from people with expertise to find out whether my project is feasible or rather characterized by some kind of madness :)
On offer are a two-family house and a single-family house on a total of 3000sqm of land.
Both units in the two-family house are rented out, the single-family house would be owner-occupied.
The purchase price is stated as €520,000 from a private seller, so there is no commission to be paid.
Monthly rental income from the two rented units currently amounts to about €1600.
I bring approximately €22,000 in equity (checking account), €10,000 (ongoing building savings contract) and currently about €6000 (housing Riester contract).
My monthly income from a permanent position at a university hospital is currently about €1900, my girlfriend contributes a net income of €1400 in a current temporary position.
Is the financing feasible? How high would our recommended equity participation be, or can the financing be covered solely by the rental income?
As an absolute layman, I appreciate any serious advice, and if further information is missing, just let me know, then I will try to answer it as best as possible.
Best regards, Baufi82