My home financing 2025 is bursting against reality

  • Erstellt am 2025-01-19 14:44:14

Tolentino

2025-01-20 12:28:51
  • #1
I would also question the salary again. That really seems very low to me for the region. Is that part-time or do you really earn less than 17 EUR/h?
In other words, can't you significantly increase your income by working more hours, changing jobs, additional qualifications, etc.?
Are two or more of the apartments next to each other by any chance? Then consider having them combined and a termination for personal use (I know it's often not that easy, but it's about options)?
 

HilfeHilfe

2025-01-21 05:49:40
  • #2
What use are 10 apartments other than stress. The biggest leverage is the income situation and not the Netflix subscription.
 

DaGoodness

2025-01-21 09:03:40
  • #3
I somehow still can’t quite take the thread seriously.

I’ll try to add up all the numbers mentioned so far.

You earn €2,000 (full-time? part-time? for how many years?)
You have 10 paid-off apartments, each worth over €100,000, whereby you bought the first apartment for €70,000. (I assume the others were purchased at a similar price?!)
How could you have paid for these apartments with that salary?

Your wife receives €1,800 parental allowance.
That means she must have earned significantly more before.
Is she also investing money in the apartments, or do they belong to you alone?

Then you write that you have €5,000 net income per month including the rent from 10 apartments.
If I subtract your salary and your wife’s parental allowance, that leaves €1,200 rental income from 10 apartments per month.
That is €120 per month per apartment. What is the cold rent of the apartments?

With an estimated value of €120,000 per apartment, that would be a yield of 1% per year.
Regardless of the desire to buy a house, I would quickly sell all the apartments and invest the money more sensibly and with a higher yield.
 

kbt09

2025-01-21 17:44:09
  • #4
Perhaps the net rents are already after deducting costs such as non-allocatable service charges and income tax. For the salary, we also want to know the net amount and not the "revenue".
 

DaGoodness

2025-01-21 20:01:23
  • #5
Yes, he even wrote that the service charge and tax have already been deducted.
Still, that is far too little. Why would anyone put up with something like that if the return is low, the effort is high, and the investment is totally inflexible.
I'd rather keep the money in the [Tagesgeldkonto], have triple the return, no work at all, and have access to it at any time.
Either a lot of information is missing or the whole thing doesn't add up at all.
 

MachsSelbst

2025-01-21 20:20:26
  • #6
Don't know if all that is so unrealistic. 2,000 net, that can easily be a craftsman. With Eastern Europeans, this is an absolutely common approach. They buy a rundown place when they're very young, then their buddies show up, fix it up quickly and bam, the apartment is renovated and either for own use or sale/rental... The 1,200 EUR rental income doesn't even sound that unrealistic now. These won't be 50m² studio apartments, but rather about 20-25m². The classic "worker apartments", sometimes even without a shower, only with a toilet and washbasin. You can't demand astronomical rent for those, not even in Stuttgart. And since he has had the apartments since 2005, there might still be rental contracts at 7 EUR/m², who knows. Then you still have to deduct taxes, reserves for repairs and maintenance, a little always has to be done...
 

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