I like your information and style. Any good berlin tips?

quote:

Originally posted by Robd103:
I like your information and style. Any good berlin tips?

Sorry Rob, I just noticed your post!

Berlin - really 2 ways of doing things;

1) Buy a new appartment with cash or a 60% German mortgage (quite difficult to get). Might be easiest to use one of the Brit outfits that take care of everything for you such as Assetz.
You need a useable/accesible rental manager who will completely look after the place as the rules are many.

2) Buy grotty property or land perhaps just outside the new airport zone and let it grow in value. Im on the lookout out for this right now. You need to be careful.

Ive seen for example whole houses for 1 euro, thats right 0.70 pence.
The reason - such properties have to have a massive overhaul to be safe / meet certain standards. Others have serious contamination or are a health hazard to surrounding property as they are about to fall over.

For this reason Im currently on the look out for cleanish land or a reposossed property that is in reasonable order.

I would stick to Berlin and surrounding area but not too far out. In some outlying areas there is alot of empty property.

I have a great contact for reposessions, he is German and you as a Brit would never be able to access such property. He is not cheap though - he charges about 20%, but the property is less than 50% of the prices you will see via an ordinary agent.

quote:

Originally posted by Thorr:

Ive seen for example whole houses for 1 euro, thats right 0.70 pence.
The reason - such properties have to have a massive overhaul to be safe / meet certain standards.

On in economic terms, nobody wants to buy them and so their market value is zero.

I know people with similar lemons.

I live in Germany and am buying but do not know Berlin sorry.

Gents,
There is an Anglo-German partnership based in Spandau who can fill all your needs.
They have the occassional flat in the greater Berlin area and are about as one stop as it gets. They have a number of rentals on their books from Brit investors, will give you sound advice on insurance and will buy and sell for you I have used them several times and am on good terms with both ILJA and ROBERT the two head honchos. I understand I am not allowed to put web-sites, phone nrs or e-mails but if you put in a google search for " property source Berlin" they'll be on the first page. If not feel free to get back to me.
Another company I have used is saxony property services. Their H0 is in Redditch but they also have an office near Dresden. I've met their M.D. and talk to him probably weekly and call in for a coffee any time I go near B'ham. and Their top man in Germany goes by the name of Guenter - his English is pretty good and he is canny beyond his quiet laid-back approach to everything They have both done a good sound job for me over the last 9 months and I wouldn't hesitate to recommend them.
There are many others out there but I haven't used them and so can't advise on them. Prior to finding these two (one of them through this forum I might add and they recommended the other) I went it alone, once you understand the procedure it's not impossible but it is not the simplest to grasp either.
I now choose to let someone else do the sweating for me and now channel all my Germany money through these two.
Good luck with Berlin it really is a wonderful playground to live near.