Sell the property completely or partial sale with investment?

Thank you for the tips. I had mentioned it once before, but it probably got overlooked. The property is not lying fallow and useless. It is being and has been used. However, the old form of usage has gradually shrunk from lucrative to just about breaking even over the years. So, a new form of usage is being sought, which for the family would probably be a leap into the unknown. Therefore, a complete sale would be painful but also an option.

Hello koha, Real estate, asset management, and development require constant care. If the lucrative income is not reinvested and new plans are developed, everything slips away. And even if it is sold: plans for how to make the remaining money generate secure returns must be made! How things have gone so far should be warning enough. And in case anyone wonders how a fortune of millions disappears into thin air through neglect... that's not a problem at all, you don't even have to live lavishly for that. I also have a discouraging example right in front of me. So I hope for DD that you get something going or get it done. The city is dear to me after all. And if it is not to your disadvantage, then that is also okay.

Yes, that also comes into play, that we fundamentally wish for an improvement for the benefit of all. But unfortunately, that costs money and operates in realms that are probably too big a scale for us.

The important details and necessary preliminary work have already been explained in the previous comment.

Which one do you mean?

So roughly speaking, establish an asset-managing GmbH and contribute the property as a capital contribution. The "heirs" as owners according to their share.

"Roughly speaking" – or better: quoted without the decisive nuances – tax tips quickly turn into the opposite.

However, this requires an income of all involved to cover current living expenses, to pump further money into the GmbH, and 10–20 years of time.

If the money were lying around so fat, property development without co-investors would also be possible – do you notice something?

If the money were just lying around like that, a property development without co-investors would also be possible ...

I'll let you know if I hit the jackpot in the lottery...

Which one do you mean?

by Nordannay by you by HilfeHilfe by Hausbauer1 by AxelH. (I prefer Bayernatlas more... it's geographically closer to me) by cschiko by HilfeHilfe by Alex85

"Roughly speaking" – or better: quoted without the crucial details – tax tips can quickly turn into the opposite.

Again, this is not my field... I just stumbled across it... what options you still have and from which volume (€) it makes sense to deal with it. (starting from about 2-5 million €, and then paying for advice from a tax advisor so you really know how things work.) The asset-managing GmbH can also be the final goal, before that a GbR/private can do a lot. The tax difference was listed in the "Baukindergeld-thread."

Immoscout24 and govestor Verlag (beware – nasty sales pressure!) have free newsletters on building, renting, taxes, and rulings. YouTube is full of videos on how to invest money in real estate. The ImmoWertV is available for free online, showing how things really look. Market value appraisals in all variations. BORIS was already mentioned.

And yes, these are generalities. Not everything on the internet should be taken seriously. Common sense cannot be replaced by anything. But if you look up to someone and pull out the personally relevant information and solidly validate it, a plan can be developed from that. I see it in myself, even a bad plan is better than none at all. From my middle-class income alone I couldn’t build a house. My great-grandmother from Dresden already knew that.

And especially in long-term real estate investment, the money illusion also plays a role. This means, if I spend the rental income prematurely and only do the necessary repairs, I live off the substance! Inflation is relentless.

And now, do you want to tie yourself to a 10 million project? Do I have the will to operate at that scale? And am I willing to act so consistently? So just rough calculations: 10 million * 5 % return * 10 % reserves means the first 50K income should be set aside to keep the project permanently alive. So taxes and ongoing maintenance come on top.