Investment property in Northern Hesse 800 sqm plot - What type of construction?

Hello everyone!

I have purchased an 800 sqm plot near North Hesse in a new development area! There is currently no official development plan yet, but I know that you are allowed to build 2 full floors including roof/step floors! Unfortunately, my research in the forum and search engines was not very successful!

My current thoughts are to build a multi-family house (5 residential units) and sell the apartments as quickly as possible except for the one I live in, and live without debt! Is something like this possible? Does anyone have experience with this or was in a similar situation? I am very grateful for any answer! ..

Kind regards Felix

Aha, a new development area where there is no zoning plan yet, but plots are already being sold. What makes you so sure that you are allowed to build more than one residential unit? Stick to what you know.

Right! And please consult your tax advisor to see if with your method you might be regarded as a business operator with all the trimmings. Being a property developer is not a hobby, and the tax office will hardly grant hobby activities as a business model without tax disadvantages.

yes, I don't want to make it public here now because it is still unofficial! but I was already in talks with the community, these things have been decided in advance!

what disadvantages would there be in starting a business? sorry for the inexperienced questions! :) you are basically my first contacts!

Buildability of the plot? (New development areas are mostly intended only for single-family/two-family houses)
Financing structure?
Experience in the real estate industry?
Marketing?
Special request management?
Calculation?
Personal asset and income situation?
Do you want to live under one roof with tenants?
Administration?
Tax component? ==> with the number of units you will actually be a commercial operator

etc.

Many questions about your request.

what disadvantages would there be to starting a business? sorry for the inexperienced questions! :) you are basically my first contacts![/QUOTE]
The thing is, you will have to pay even more taxes ;-)