ᐅ Sell the entire property or opt for a partial sale with reinvestment?
Created on: 10 Jun 2018 13:41
K
kaho674
There is a large property in the family located in the center of Dresden. It is a residential area—surrounded by 6-story or even taller new apartment buildings. The land is currently occupied by a very old factory building. The owners do not have the funds to demolish this building and replace it with modern new construction. On the other hand, the ongoing costs and rental income are just about breaking even. If income continues to decline, the property could financially ruin the family.
So the question is what should happen with this "factory land." It is quite certain that it could be completely redeveloped since there are multi-family buildings all around. Adjacent to this land is the family’s own business property (including land), which is not intended to be sold as it is their livelihood.
The immediate idea was, of course, to sell the entire factory land. Its value is estimated at around 1-2 million (minus demolition costs), without going into details here. The money could be taken, divided among the family, and essentially spent without long-term benefit.
However, there are also grandchildren who are struggling to establish themselves in Dresden. The family would like to support them over the long term and believes that a rental property would be ideal. Coincidentally, the grandchildren are trained in property management and could help oversee the project.
So the idea came up to sell only part of the land to gain liquidity, demolish the old building, and construct a multi-family house—ideally in collaboration with an investor who would buy and develop the other half. Of course, everything would need to be carefully calculated to see if this is feasible and if the land will generate enough value.
Is something like this possible, or is it just a scam? What would you do?
So the question is what should happen with this "factory land." It is quite certain that it could be completely redeveloped since there are multi-family buildings all around. Adjacent to this land is the family’s own business property (including land), which is not intended to be sold as it is their livelihood.
The immediate idea was, of course, to sell the entire factory land. Its value is estimated at around 1-2 million (minus demolition costs), without going into details here. The money could be taken, divided among the family, and essentially spent without long-term benefit.
However, there are also grandchildren who are struggling to establish themselves in Dresden. The family would like to support them over the long term and believes that a rental property would be ideal. Coincidentally, the grandchildren are trained in property management and could help oversee the project.
So the idea came up to sell only part of the land to gain liquidity, demolish the old building, and construct a multi-family house—ideally in collaboration with an investor who would buy and develop the other half. Of course, everything would need to be carefully calculated to see if this is feasible and if the land will generate enough value.
Is something like this possible, or is it just a scam? What would you do?
kaho674 schrieb:
The question is whether to form a triangle orchestra... Haha, typically there’s only one triangle in every orchestra. An orchestra made up solely of triangles would be like a soup made only of salt. Still, it’s a pretty cool job: one “pling” throughout the entire symphony, for the same pay that the string players earn while bowing almost the whole time.
https://www.instagram.com/11antgmxde/
https://www.linkedin.com/company/bauen-jetzt/
11ant schrieb:
Haha, the triangle usually appears only once in each orchestra. An orchestra made up solely of triangles would be like a soup made entirely of salt. Still, it’s a pretty cool job: one “pling” in the entire symphony, for the same pay that string players earn by playing almost the whole time They just learned something proper
Alex85 schrieb:
They have proper training after all Just as a side note: Probably no orchestra in the world employs a dedicated triangle player. The triangle is part of the percussion section, which includes a wide range of instruments (timpani, drum, gong, glockenspiel, xylophone, ratchet, thunder sheet, etc.)—a very complex setup (somewhat like building a multi-family house by a group of heirs on a former industrial site).
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Hausbauer111 Jun 2018 21:46HilfeHilfe schrieb:
I know many young graduates at the bank who can give big speeches and create colorful PowerPoints. But when it comes to taking a pragmatic approach, that quickly stops.This is really a problem of this generation. Expectations and reality, words and actions, are so far apart.
11ant schrieb:
That is quite a long time without anyone approaching you.I asked again yesterday, and it turns out several real estate agents had already been there interested in buying the property. I didn’t know that until now. Just thought I’d mention it.
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HilfeHilfe12 Jun 2018 07:25kaho674 schrieb:
I asked again yesterday; apparently several real estate agents have already visited who wanted to buy the property. I didn’t know that until now. Just a side note.Agents don’t buy, they SELL
( Except if they have a purchase order, which is rather unusual for a factory)
Tell that to your grandchildren / family....
What price did they mention for the sale?
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