I have a property in Germany which I purchased 3 years ago and have appreciated in value.
Ideally I would like to release some of the equity from my home in order to purchase a second rental property.
Does anyone here have experience or contacts who offer equity finance in Germany?
Daniel, there are plenty of lenders that will give you a hypothek (cash of refi) on your property if you own it free and clear. Try InterhypAG. All they need is your american tax returns but they even finance up to 120% (fullprice + closing cost) at the moment. Where are you based out of? For buy and hold there are better areas than Berlin. Berlin is great for big developments at the moment.
Hey Michael, Awesome thanks man im reaching out to them now.
I travel so am not really based anywhere. Just bought in Berlin as prices were going up:)
Hi guys, I'm also interested in the idea of extracting capital out of appreciated properties in German, particularly Berlin. I recently read about the BRRRR method. Would this work in Germany? I.e. if I buy a doer-upper, renovate, will I be able to refinance and extract cash for further investments? Any thoughts @Michael B. ?
if I buy a doer-upper, renovate, will I be able to refinance and extract cash for further investments?
Its possible but if you are in Berlin you will know there isnt the same culture around investment as the US so it is a lot harder to get finance like this.
Thanks @Daniel Harbuz . Any pointers on where to go for finance like this? Or have you heard of anyone doing it?
InterhypAG - were recommended further up.
Hit up some mortgauge brokers and ask them, they should shop around for you
Hi @Daniel Harbuz , were you able to refi your property in Germany? Any recommendations?