Heritage - need advice

[Anonymous No.2441963]

Today is my birthday.
And today, my mother also surprised me with the fact that my grandfather died.

Dont worry, this will not be a feels-thread - no big tears were shed. My parents did not had any contact with him, I never met him. My father denied the heritage out of personal reasons, so it is now my turn to accept or turn it down.

Anyways, I am in for a part of his heritage.
It is about 2,100m2 (22,600ft) at a very good location in my hometown inside of germany (about 1 million inhabitants, steadily growing). I get 1/3rd of the heritage, the other 2/3rd is the share of my uncle (we are on good terms).

Anyways, now comes the problem:
- the state wants money to pay for his retirement home (about 120k)
- the house on it is uninhabitable, as it stood empty for 4 years
- heritage tax of about 40k

I tend to accept the heritage, build 3 houses together with my uncle and rent them out for passive gains (did not talk with him so far, dont know what he thinks).

Problem is that the debt load might be too big. I life far away from home and Im on the last legs of my studies (major in finance & accounting) and also have a student loan to pay.

All in all I would have to shoulder (120k * 1/3) + 40k + 20k = 100k. Not including the houses I have in mind to put on these grounds. My annual income after graduation would be something around 40k before taxes and I would not so much mind to keep my lifestyle right now (easily sustainable at 1k per month).
What would /biz/ advise me to do in this situation? I have at least 2 months time to think about it.

[Anonymous No.2441972]

bump, interested

[Anonymous No.2442052]

>>2441963
Köln ist scheiße

[Anonymous No.2442093]

>>2442052

Lipsia, not colonia.
But I agree, Cologne is not a nice city.