Just bought door # 2 with over 5k back at closing

[Sebastian Koellner]

It's a small step on the slow and steady path to wealth. We are trying to move to MFH, but stumbled upon this Condo at about 60% FMV.

After some negotiation and the usual procedures, we just closed yesterday – bought the condo in a midsized town in Germany for €22,100. We financed it for €30k to cover closing costs for this deal and pocket some money for the MFH deal we are working on.

Cash flow will be only about €60 per month – everything considered, including a 20% vacancy rate, management fee, repairs etc. That appears to be way less then what investors state-side get up for, but we also got the equity upside, so it was worth it to us.

Anyone out there investing in Germany?