Finally Investing Abroad

[Joe Podwats]

Hi everyone!

I wrote a post a couple years ago asking if I should buy Investments in the US or in Germany.

Since then, my wife and I had been communicating (AKA negotiating) with an owner casually about selling their apartment off market in Wiesbaden, Germany. We were finally able to convert the lead after several meetings, emails, and calls spread over almost 2 years. Purchase price was settled at €340,000 for 2 beds/2baths.

COVID-19 restrictions resulted in a cancelled closing and financing contract until further notice. We rescheduled closing in early June and will accept keys next month after finding a new bank with an interest rate close to our original 1.34%. Then the fun renovations begin. In the meantime, we’re working on marketing and screening potential property managers. If anyone has any leads on property management here in Wiesbaden, I’d be happy to hear about your experience.

Happy Thursday in the meantime.

[Bruce Lynn]

What kind of rent do you expect to return on a project like this?

What does property management cost in Germany/Wiesbaden?

Will the troop reductions in Germany affect prices or rents in Wiesbaden area?

What do you think it is worth?