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€220,000  Investment Dortmund

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  • €220,000
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  • Investment
  • For Sale 
  • Dortmund
  • germany Flag Germany
The summary of the deal is:

• Block of 7 apartments which are ¾ finished.
Remaining work is mainly internal fit-out and cosmetic. The large items such as re-roofing, electrics, internal walls, plumbing etc.. are completed.
• Dortmund is in the former West Germany and is a prosperous city with a lot of recent inward investment.
• Cost = 270,000 euros (220,000 euros to purchase the property as it stands and 50,000 euros to finish the renovation)
• End value – 500,000 – 550,000 euros.
• Equity at end of deal 46 – 51% (depending on bank valuation)
• Cold rent – 36,252 (based on Mietzspiegal – rents set by the state)
• Yield on cost = 13.4%
• Approximately 80% of Germans rent, there is a renting culture in Germany and most of Europe.
• Company can manage the end of the renovation.
• Lettings are good in the this area. I have met a local letting agent who is happy to manage the properties.
The summary of the deal is:

• Block of 7 apartments which are ¾ finished.
Remaining work is mainly internal fit-out and cosmetic. The large items such as re-roofing, electrics, internal walls, plumbing etc.. are completed.
• Dortmund is in the former West Germany and is a prosperous city with a lot of recent inward investment.
• Cos...
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