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/biz/ - Business & Finance

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12427724

Business Plan, please review [not crypto] Anonymous Sun Jan 13 09:51:31 2019 No.12427724 [Reply] [Original]

Hello /biz/ please let me know what you think of my business plan.

>Have €70,000 in savings
>Live in tourist hotspot
>Want to buy 1-2 bedroom apartments and post them on AirBnb
>I don't own my own property to live in

My plan is to buy one a one bedroom property to begin with, transfer ownership over to the GmbH I will create for laibility reasons. Set the price point enough to cover the mortgage. Anything extra will go towards purchasing the next property.

Strengths
>My salary from my day job is €5300 a month
>My expenses are low so I can cover renting a place to live, as well as the mortgage of a place I buy

Challenges
>German requires about 9% upfront in fees that doesn't count towards the downpayment on the loan
>Loans wont give a good rate if you dont have 20%
>a cheap one bedroom at my location is €150,000.
>a decent 2 bedroom is €300,000-450,000

My end goal is to quit my day job to only host out vacation rentals. I haven't done the math on how many properties I would have to buy to accomplish this though.

What do you think? Is this crazy or does this approach make sense?

>>	Willly Sun Jan 13 09:52:59 2019 No.12427732 >>12427724 MODS

>>	Anonymous Sun Jan 13 09:55:09 2019 No.12427748 >>12427732 She's not even naked faggot.

>>	Anonymous Sun Jan 13 09:59:59 2019 No.12427780 >>12427724 Just buy link you fucking pedo

>>	Anonymous Sun Jan 13 10:00:03 2019 No.12427782 >>12427724 How much are the taxes on property?

>>	Anonymous Sun Jan 13 10:00:55 2019 No.12427787 >>12427780 Actual assets > fake assets

>>	Anonymous Sun Jan 13 10:01:38 2019 No.12427791 >>12427787 Accual assets gives you 10% return in a year. Have fun being poor fag pedo

>>	Anonymous Sun Jan 13 10:03:48 2019 No.12427803 >>12427791 People will always need a place to live and vacation. Link won't even exist next year

>>	Anonymous Sun Jan 13 10:04:24 2019 No.12427806 >>12427724 >GmbH Lösch‘ dich, Brudi. Lass‘ die Thai-Kinder aus dem Keller.

>>	Anonymous Sun Jan 13 10:05:42 2019 No.12427815 File: 11 KB, 229x221, 729ACF4E-6E63-4EEB-BE73-DD2790CF3F3B.jpg [View same] [iqdb] [saucenao] [google] >>12427803

>>	Anonymous Sun Jan 13 10:06:36 2019 No.12427820 >>12427806 I'm not even German, but I live in Germany. What is up with so many Germans vacationing in Thailand and Mallorca?

>>	Anonymous Sun Jan 13 10:08:40 2019 No.12427830 >>12427820 People know that other people go to Mallorca and Thailand so they do that too. Don't ask. Germans are sheep.

>>	Anonymous Sun Jan 13 10:10:14 2019 No.12427840 >>12427820 All nazis are pedos

>>

Anonymous Sun Jan 13 10:17:04 2019 No.12427889
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>>12427724
Heres my assessment for what its worth:

Pros: You have a plan (big plus)
You have a backup plan (your day job)
You thought this through and appear to commit to it, and have drawn down life expenses to accomodate the change
Potential profit is there
Moving your life toward passive income

Cons: Hard to get loans on rental properties through banks, unless you pay alot through hard lenders at first (doable but tough)
My wife is a realtor and does property management and it eats up alot more time and frustration than you think. Be prepared to work weekends!
I don't know anything about the airbnb scenario, not sure how the whole thing works but I'm guessing you do.
Cheap one bedroom in your area is VERY EXPENSIVE!!! But you'll perhaps balance the rents out with that aspect?

All in all...go for it.
You'll trip and fall along the way, but the satisfaction of being your own boss is worth every pfennig. Good luck!

>>	Anonymous Sun Jan 13 10:18:52 2019 No.12427905 fuck off pedo

>>	Anonymous Sun Jan 13 10:23:56 2019 No.12427937 >german >posts poorly cropped child porn to get attention kek

>>

Anonymous Sun Jan 13 10:30:57 2019 No.12427998

>>12427889
Thank you for the actual response.
>Hard to get loans on rental properties through banks
Thats what I was thinking too. Thats why I want to buy it under my own name first before transferring it over to the company. My buddy who is now retired did this with his own studio apartment and only wants to rent it out for 2 weeks a month since he said "he was a lazy old guy". He charges about €80 a night at his place.

>>12427937
>>12427905
>>12427840
>>12427780
>>12427732
She isn't a fucking child you retards. Its from SerpentZA's documentary he just released. She's a 24 year old Chinese model. Whats wrong with you people?

>>	Anonymous Sun Jan 13 10:38:56 2019 No.12428046 >>12427998 >looks like a kid >skinny like a kid >all boney and mishapen while growing like a kid its a kid, and you saved the image because you know its a kid, and you wanted attention

>>	Anonymous Sun Jan 13 10:50:53 2019 No.12428131 >>12428046 >thinks only kids can be skinny/boney >"Why doesn't this 24 year old look 40 like I do?" You wanna know how I know you're American?

>>	Willy Sun Jan 13 10:56:23 2019 No.12428172 >>12428131 Pedo

>>	Anonymous Sun Jan 13 11:48:00 2019 No.12428621 >>12427724 >My salary from my day job is €5300 a month it's a comfy middle class life. why you even think about some shitty business...