You''ll need more down and additional reserves.

If you have any additional advice please let me know!

Additionally, forming a new LLC may require obtaining a new EIN and business bank account.This post does not create a CPA-Client relationship.

In addition to managing a diverse portfolio of rental properties, we've successfully flipped several properties in recent years.

A local real estate lawyer or translator can ensure you fully understand the terms and conditions of the purchase.Other Costs to Consider- Closing Costs: In addition to your down payment, expect to pay an additional 8-12% of the property price for:- Notary Fees: Around 1-2% of the purchase price.- Property Transfer Tax (Grunderwerbsteuer): 3.5-6.5%, depending on the region- Land Registration Fees: Approximately 0.5-1.5%.- Realtor Fees: As mentioned, these range from 3-7% of the purchase price, plus VAT.Benefits for Service Members- Equity Building: Owning property builds equity over time, providing long-term financial security.- Strong Rental Potential: If reassigned, you can rent the property out in Germany high-demand rental market.- Tax Advantages: Germany offers tax deductions for property owners, which can help offset some costs.Key TakeawaysService members have a unique opportunity to buy property in Germany with minimal upfront costs.

IMO this is much too little additional return to put your personal residence at risk.  

Why ask: Get clarity on the full cost of the program, any additional fees, and what’s included.

The only reason he did it was because it led to additional work.

In addition I heard that is better having one LLC for each property and one for management only.

@Kevin Connauton most PMCs won't touch this type of renting due to all the additional headaches and liability.We second contacting PadSplit.