Opinion requested about an investment

Bird Dogs, Wholesaling
1

I have noticed this building for sale. Who has an opinion about this investment?

Link: http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&item=220779539128

2

Hi,

I looked at this, purchase price $770,000 Euros or $1,108,000 in US dollars with income of $68,600 Euros or $98,784 US. (My Euro exchange is $1.44 US to $1.00 Euro.)

Now when you use a 50 / 50 rule for rental units this only leaves $49,392 a year for debt service or $4,116 per month which is about 2.1% interest on $1.108m dollars.

Then in this situation expenses would not cover plane flights and expenses for an owner to make this work!

               GR
3

Unless you a planning to move to Germany I would strongly recommend passing. You can find good deals in your backyard if you will go look for them - our best deals are deals that we make with private sellers who need to sell quickly and will trade our fast cash sale for a discounted price.

But you know what? They rarely appear on ebay or in the MLS or on a website - we have to go look for them and talk to sellers.

Just a thought - good luck…