Investment Opportunity Berlin, Creative Financing
I am an American (CA/NYC) living in Berlin and am in a unique position whereby the apartment I rent is currently for sale and due to tenancy laws, the owners (an asset management firm in Luxemburg) are offering the unit at nearly 25% below market value to current tenants. If I exit the lease, the owners will sell the unit at market value, and rather than gifting them the gain, I would like to purchase the unit as a flip (I am planning to move to Mallorca this summer). The easiest way to proceed with the purchase would be to buy the apartment in cash, but as I am not in that position, I'm considering taking out a mortgage for part of the purchasing fees and finding someone to personally finance the remainder - with a healthy return on investment.
I am quite familiar with the Berlin real estate market which is hot at the moment, especially in Prenzlauer Berg where the apartment is located. I have agreed upon a purchasing price of 625,000 euros, and can feasibly flip it for 900,000 euros within 3 - 6 months. I do have a family property in Jackson Hole, WY that I could borrow equity out of, but would rather avoid that at the moment. If anyone is looking for an interesting real estate investment in Berlin/Europe, please contact me. I would love to proceed with this purchase ASAP and am looking for a creative way/partnership to do so.
All the best - Amber