ᐅ Building a Small Multifamily House – Finding a Partner in the Düsseldorf Area
Created on: 15 Sep 2017 09:11
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Tom108Hello everyone,
we own a plot of land of approximately 900 sqm (9700 sq ft) in Düsseldorf, including an approved preliminary building permit for a house adjacent to our own property/residential house.
We are considering a) selling the entire plot, or b) alternatively, building a multi-family house on the property (total living area about 180 sqm (1900 sq ft), with 2-3 residential units possible) and keeping one of the units as an investment property for ourselves.
An important condition for us with option b) is that we would like to be able to sell shares of the property quickly, as we need the proceeds for renovations. We would finance our share of the new building through a bank. Is such a setup realistic?
We would like to start discussions with suitable partners. Do you have any recommendations for architects or builders in the region? What is the best way to search?
we own a plot of land of approximately 900 sqm (9700 sq ft) in Düsseldorf, including an approved preliminary building permit for a house adjacent to our own property/residential house.
We are considering a) selling the entire plot, or b) alternatively, building a multi-family house on the property (total living area about 180 sqm (1900 sq ft), with 2-3 residential units possible) and keeping one of the units as an investment property for ourselves.
An important condition for us with option b) is that we would like to be able to sell shares of the property quickly, as we need the proceeds for renovations. We would finance our share of the new building through a bank. Is such a setup realistic?
We would like to start discussions with suitable partners. Do you have any recommendations for architects or builders in the region? What is the best way to search?
Tom108 schrieb:
Total living area about 180 sqm (1,937 sq ft), 2-3 residential units would be possible This is a size that is generally considered too small by traditional investors.
Tom108 schrieb:
Willing to sell shares of the land quickly because we need the proceeds for a renovation Shares of land are difficult to transfer, and a fund with only one property is unlikely to attract interest. A solution that serves the purpose can probably be found, but not through this approach.
Tom108 schrieb:
and to buy/keep one residential unit as an investment myself I would consider it more practical to organize a corresponding share within a company. Basically, this is a common request, so it is not the first time such a solution is searched for.
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