German Mortgage And Tax Advice Sought

[nootopian]

Hi,

I've recently returned from Berlin and have agreed a price on an apartment.

My current UK broker's overseas department has a panel of exactly one lender that will lend to overseas investors in Germany.

Im urgently looking for someone that can provide a mortgage.

I also understand in some circumstances it can make sense to purchase as a GermanCo and am looking for a tax accountant that I could speak to regarding this. Any help appreciated.

Greg

[soldintime]

Hi,

I've recently returned from Berlin and have agreed a price on an apartment.

My current UK broker's overseas department has a panel of exactly one lender that will lend to overseas investors in Germany.

Im urgently looking for someone that can provide a mortgage.

I also understand in some circumstances it can make sense to purchase as a GermanCo and am looking for a tax accountant that I could speak to regarding this. Any help appreciated.

Greg

I have emailed you the broker details. I have bought the block of flats in person and not used a company. Only when you decide to buy blocks and sell individual flats does it make sense to have a company or if you buy a large portfolio. If it is one appartment i would not use a company.

[wee_buns]

Hi

Don't want to be a pain but is there any chance you could forward me the brokers details as well soldintime. Bought a few flats for cash and looking at the option of raising a mortgage to fund further purchases.

Cheers

[dogbox]

Trying to raise a mortgage in Germany is very difficult and most UK applicants will not be sucesfull.

Better to raise in the UK where possible.

http://www.berlinrepos.com show some decent properties - anyone have a view on the cheap ones(£24,000) with 10 yr rent guarantees?

[wee_buns]

Depends on your attitude to rish I suppose but Marzahn is probably the worst district of berlin by a long way. It has a really bad reputation amongst locals.

[soldintime]

Hi

Don't want to be a pain but is there any chance you could forward me the brokers details as well soldintime. Bought a few flats for cash and looking at the option of raising a mortgage to fund further purchases.

Cheers

Send me an email to supertuur69@hotmail.com the PM system does not work on this forum

[dogbox]

Depends on your attitude to rish I suppose but Marzahn is probably the worst district of berlin by a long way. It has a really bad reputation amongst locals.

One of those urban myths.

Ive been twice to the area and was very impressed. The developments in question are very green, family orientated, no trash, no grafitti, nice clean cars in the car parks etc.

I tried really hard to find these 'no go areas' Ive heard about and the worst I found makes any London estate look like hell.

People forget that after the wall came down all the investment was poured into East Berlin and I can honestly say I was more impressed with the East over the West!

[wee_buns]

You may be right dogbox, alot of the eastern districts look tidy but I've always tended to take the opinion of locals. Any young waiters/waitresses, taxi drivers or people we'd chat to would almost always say they wouldn't live in Neukoelln or Marzahn. It's probably a mindset but I work on the view that its this age range that will be the buyers of the future.

I suppose everyone has to make their own judgement calls though.

[soldintime]

You may be right dogbox, alot of the eastern districts look tidy but I've always tended to take the opinion of locals. Any young waiters/waitresses, taxi drivers or people we'd chat to would almost always say they wouldn't live in Neukoelln or Marzahn. It's probably a mindset but I work on the view that its this age range that will be the buyers of the future.

I suppose everyone has to make their own judgement calls though.

Neukoln was west Berlin. Neukoln & Wedding have high levels of immigrants and High levels of unemployment (30%). But I still liked both areas too.

[dogbox]

You may be right dogbox, alot of the eastern districts look tidy but I've always tended to take the opinion of locals. Any young waiters/waitresses, taxi drivers or people we'd chat to would almost always say they wouldn't live in Neukoelln or Marzahn. It's probably a mindset but I work on the view that its this age range that will be the buyers of the future.

I suppose everyone has to make their own judgement calls though.

As I say we spent quite a bit of time in Marzahn. We found the renovated estates to be high quality pleasant green places, and very much family focused. The greatest sense we came away with was that owners as tenants alike take pride in thier homes as evidenced by the cleanliness, balconys bursting with well tended plants (virtually every balcony that is), clean smart cars, no chewing gum mess, no dog sh1te, no grafitti, everything in pristine order.

People often mock me for being an ams length investor. Ive spent more time in Berlin than London the past while so I do know what I'm on about here.

I think the taxi drivers dismissing Marzahn in a hangover from pre - development days. Id liken such mussings as about as valid as those that say all Essex Women where white high heals (try finding one in somewhere like Saffron Walden).

Impressions are hard to remove but in time they do alter.

Dont forget Islington was not very long ago seen as pretty much a rough neighbourhood.

[BigLog]

As I say we spent quite a bit of time in Marzahn. We found the renovated estates ............

How could you claim to have spent quite a bit of time ?? You're on here 24/7 !

People often mock me for being an ams length investor.........

I cannot imagine that for one second

Ive spent more time in Berlin than London the past while so I do know what I'm on about here.

So you're admitting now that you don't know anything about Saidia as you've NEVER spent ANY time there ??

And the endless elementary grammar/spelling mistakes makes one's mind boggle......

[dogbox]

So you're admitting now that you don't know anything about Saidia as you've NEVER spent ANY time there ??

And the endless elementary grammar/spelling mistakes makes one's mind boggle......

Emminent Astronomers have'nt been to the moon - does this mean thier opinions are invalid?

Spelling and grammer are unnecessary time consuming clutter. As long as the basic thrust is imparted, I'm content. Ok, ok, I'm thick, I admit it.

Hey, Biglog, the photos of Saidia are comming thick and fast, so where's all the 100% shoddy workmanship you guaranteed us? Reply on Saidia thrad perhaps.

[BigLog]

Emminent Astronomers have'nt been to the moon - does this mean thier opinions are invalid?

Erm, you implied that your opinions be taken seriously since in this case (Germany) you were speaking with *actual* REAL experience (of having been there) - thereby implying that it *is* important to view firsthand rather than claiming expertise and insight to the quality and direction of a building site (Saidia) whilst constantly glued to that armchair.

BTW, I note you are still having trouble getting your head around the correct spelling of 'their' (6 months later).

Spelling and grammer are unnecessary time consuming clutter. As long as the basic thrust is imparted, I'm content. Ok, ok, I'm thick, I admit it.

Spelling and grammar (note spelling!) are unnecessary ?? If you can't be bothered communicating properly, why/how should anyone take your advice on the more potentially disastrous matter of property investment seriously ?

In other words "I'm not listening to what that guy reckons is going to happen, he can't even be bothered to talk properly".....

Hey, Biglog, the photos of Saidia are comming thick and fast, so where's all the 100% shoddy workmanship you guaranteed us? Reply on Saidia thrad perhaps.

Sheesh, this is getting rather too easy. I don't need photos Dogbox, I live here I work in construction and I see it everyday........ in fact I take pictures of building site pitfalls often (would you like some ?)

Why do you INSIST on NOT coming out to Saidia to see for yourself ?? Why do you stubbornly refuse to EVEN just come out to this wonderful place you claim exists, just for the weekend ?? So why do you keep ramping it up ?

Don't listen to this joker.

Edited August 10, 2007 by BigLog

[dogbox]

Biglog, I detest being away from my family, hence not having found time to go to Morocco. My Wife & I don't even go out for meals unless our children come too, which, sounds odd to a lot of people. I'm like the guy who Alan Sugar fired (The Apprentice) as he felt sick every second away from his family. It's a difficult thing for others to understand.

Germany I HAD to visit to conduct some business.

I aim to tear myself away to Morocco some time soon.......ish.

Again my business partner and freind has been to Saidia as has the guy who owns the firm next to mine (he did'nt buy). A visit by me was not required - even the singular fact that the development has the largest marina in the Med is enough to confirm £168 for a villa is good value let alone all the other unusual factors such as 11 4 & 5* hotels being on site.

Anyway please let's not hijack this thread, I came here to talk Germany.

[dogbox]

Sorry for hijacking this German thread, but I have to ask Biglog this too:

BG, you often said the beach at Saidia is nothing special, however many who have been recently claim it is stunning and the build progress photos on my developers website certainly confirm this. Even the guy next to me who did not buy said the sand was better than any in Spain and he is very much a Spain lover.

So why did you say the beach was nothing special?

[catara]

Sorry for hijacking this German thread, but I have to ask Biglog this too:

BG, you often said the beach at Saidia is nothing special, however many who have been recently claim it is stunning and the build progress photos on my developers website certainly confirm this. Even the guy next to me who did not buy said the sand was better than any in Spain and he is very much a Spain lover.

So why did you say the beach was nothing special?

The financial world is burning and dogbox keeps ramping about the obscure place called Saidia...

[BigLog]

Sorry for hijacking this German thread, but I have to ask Biglog this too:

BG, you often said the beach at Saidia is nothing special, however many who have been recently claim it is stunning and the build progress photos on my developers website certainly confirm this. Even the guy next to me who did not buy said the sand was better than any in Spain and he is very much a Spain lover.

So why did you say the beach was nothing special?

Can I say something really grown up ??

Say something really mature??

Yet something that's really quite simple ??

Don't go by what I say about the Sand/beach in Saidia.

Don't go by what a 'friend' says about the Sand/beach Saidia.

GO AND SEE THE SAND/BEACH IN SAIDIA FOR YOURSELF !

[BigLog]

Can I say something really grown up ??

Say something really mature??

Yet something that's really quite simple ??

Don't go by what I say about the Sand/beach in Saidia.

Don't go by what a 'friend' says about the Sand/beach Saidia.

GO AND SEE THE SAND/BEACH IN SAIDIA FOR YOURSELF !

Now I'll answer this question in a way that Dogbox perhaps would really prefer (as he is reluctant to visit his sandy investment as we already know).

As an Expat, I've gotten used to the phenomenon of seeing UK tourists coming over to Morocco and marvelling at it's contrasts with the UK and other countries they know.

Let me try and explain with one example that I see often.

When it's freezing cold to me and the natives over here, I'll be wearing several layers and jeans (even though the sun is out etc) but the English tourist with his sandals, tee-shirt and shorts !!

Same with the Sand and Sea. I'll see it as nothing special, whilst the dumb investor will be going "Cor !! Look at that" (as he's used to rainy, doomy weather back in blighty).

In fact the same is with me when I come back to the UK! I love seeing lush green countryside with dark thunderous clouds overhead with no sun or blue sky (whilst the local UK people prefer to be inside with a nice cup of hot tea !)

I did say that the beach/sand is nothing to shout about, and I know I'm right. But come and see for yourself and stop relying on third hand opinions - I'm sure your family will thank you for it (both in the short term and long term) ! (sound reasonable ??)