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Have to sell the house.
Initially, we built it for the family. Then I got ill and family broke. So I am the only person paying. Turns out my income is not enough to take care of all of it. I still pay lots of stuff for the kids.
Selling it to my Dad would've been beneficial as we'd still be able to be here, he'd move in, but this is the kid's home, so selling it to an outsider sucks. Plus we built this.
Nothing can be done about it. I've still got a bit over 200k in mortgage, with a reasonable monthly payment of 900 euros. With all other utilities, it's about 1000 euros per month. Very reasonable.
All in all, I still need to build a garage and fix up the yard. Current valuation of the house is 300k. With the plans implemented, it goes up to 350k. This was during economic downfall, it's now up again and we're looking at a possible 400k next year. That would give me a profit of 100k+ over initial investment. As long as I work for a bank, I have 250k worth of 0 margin loan, so I should basically get it all out, and they require 30 % down payment to grant the 250k. Which I'd have and is part of the loan. SO say I get 100k, debt free, I'd have 350k to invest with 0 margin. Cannot be put into bonds or other financial instruments. What should I invest in? Real estate is probably the best, rent it out? The profit is tax free, and for 350k my monthly payment is less than 1000 euros.
Any real estate investors here who can provide simple maths? Or should I just rent and enjoy life, or what's left of it? Realistically, I am not going to live another 10 years, so renting for say, 200 euro profit makes no sense. I'd have to get some good apartments, and re sell them. What do you guys think?
Initially, we built it for the family. Then I got ill and family broke. So I am the only person paying. Turns out my income is not enough to take care of all of it. I still pay lots of stuff for the kids.
Selling it to my Dad would've been beneficial as we'd still be able to be here, he'd move in, but this is the kid's home, so selling it to an outsider sucks. Plus we built this.
Nothing can be done about it. I've still got a bit over 200k in mortgage, with a reasonable monthly payment of 900 euros. With all other utilities, it's about 1000 euros per month. Very reasonable.
All in all, I still need to build a garage and fix up the yard. Current valuation of the house is 300k. With the plans implemented, it goes up to 350k. This was during economic downfall, it's now up again and we're looking at a possible 400k next year. That would give me a profit of 100k+ over initial investment. As long as I work for a bank, I have 250k worth of 0 margin loan, so I should basically get it all out, and they require 30 % down payment to grant the 250k. Which I'd have and is part of the loan. SO say I get 100k, debt free, I'd have 350k to invest with 0 margin. Cannot be put into bonds or other financial instruments. What should I invest in? Real estate is probably the best, rent it out? The profit is tax free, and for 350k my monthly payment is less than 1000 euros.
Any real estate investors here who can provide simple maths? Or should I just rent and enjoy life, or what's left of it? Realistically, I am not going to live another 10 years, so renting for say, 200 euro profit makes no sense. I'd have to get some good apartments, and re sell them. What do you guys think?
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