Today somebody asked my if I do own real estate, this questions in mind I wrote this post:

Actually as I mentioned in the past brokers who do not own real estate in Germany could be a big problem, especially because they do not know what problems the investor/buyer might face in the future.
Don’t get me wrong this is not about real estate ownership, its about knowledge.

Brokers often do not own one single flat, but think they can advice their clients on real estate investing.
Most of them are young and just a couple of years (or even month) in business.
Their approach is based on guessing and theory, because they have not experienced what it takes to run (their own) property investments properly. On top many brokers are foreigners and have no clue about legal issues in Germany. It just happened to one of my clients, that a non-german speaking broker sold a building to him and has not done the Due-Diligence right, because he just did not understand the papers presented to him.

But this is just the sales/buying process.
The real problem(s) with real estate occur often long after the purchase, sometimes even years after (while you try to sell it).

Most problems are of technical or legal nature, but brokers and investors often just think about returns and how the area might improve (capital gains/capital appreciation).

A technical or legal problem can generate bills in the region of thousands of Euros and if you put your income of the property against it, its clear that in this and maybe in the upcoming years your yield is zero or even negative.

But back to your question:
Do I personally own real estate ?
No, I don not own any real estate personally.
That has to do with my personal refinancing method, tax structure and especially with the situation that I am an entrepreneur with a family of four.

To protect my assets and my company from legal and tax issues I own real estate through companies.

But more important than that is that I have 20 years experience when it comes to real estate investments in Germany.

That is important, you could own 20 buildings, but as long as they are managed by somebody else you will not get as much experience as working on your own real estate.

I work on my own property and on my clients property.
Because we advice and supervise the assets of our clients after the purchase.
And this generates massive knowledge and practice what can happen in real estate investing.

We can give references any time, just ask.
And we will introduce serviceproviders that know their business and have tons of experience in real estate,
as there are real estate lawyers, real estate accountants, notary offices.

Hunting Tips
Charly Wilder of NYTimes covers some Nord-Neukoelln on this piece, nice that NY-Times gets what most German/Berlin developer seem not to get.

New Developments “im Kiez”
According to one of my contacts there will be a new dev/rehab in Weserstr. as well as in Reuterstr. hopefully something nice and not just a painting-the-walls rehab.

Neukölln Living
And of course watch out our new altbau rehab in Elbestr. 18, not yet open for sale but you can subscribe to our project newsletter here.

Location, location, location is not always obvious.

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If you talk to restaurant and coffee owners in neukoelln (like we do for you) they will all tell you about rumors regarding Flughafenstrasse. This street is close by the area arround Herfurthplatz with its nice Schillerpromende mentioned in an earlier post.

And now guess what: As featured in Zitty and Prinz Magazin: there is a new restaurant darling in town

Lavanderia Vecchia

.

right on Flughafenstr. 46, 2nd Yard, Neukölln, U-Bahn Neukölln
Tue-Sat from 12 clock, dinner menu from 19.30 clock,
Tel: +49-30-62722152
info@lavanderiavecchia.de

Berlin Restaurant hardly take any credit- or debitcards, go get some cash at a ATM.

closed till 16. August of 2010 !

While Berlin Mitte and Prenzlauer Berg is the main hunting area for Berlin based hotel and residential developers, Friedrichshain seems to gain traction, due to high prices and short suplly in Mitte and Prenzlauer Berg. With prices outreaching 3500 Euro/sqm Berlin Mitte and Prenzlauer Berg is no longer suitable for “normal” families with 2 incomes and 2-3 (!) kids.

For example, condo project Gleimstr. 50 (Gleimkiez in Prenzlauer Berg) of developer natulis AG in a more northern part of Prenzlauer Berg sold for 2850 Euro/sqm back in 2008 and would cost today 3500 Euro and more today in the same location and quality. Yet unfinancable by people with a “normal” income.

Developers now turn heads towards Friedrichshain, especially in former redevelopement area “Samariterviertel” and Simon-Dach-Kiez, arround Boxhagener Platz lots of plots are still unbuildt (does not mean on sale). One part of Friedrichain is allready heavily developed, the Island Stralau half surrounded by the river spree.

Now Berlin/Leipzig based Agromex GmbH & Co. KG, developer of townhouse project Hafenquartier Mitte, revealed plans for a new condo project in Dolzigerstr. 19/20 and 21/22, according to Thomas Daily 45 flats are planned.

If you are planning a condo project in Friedrichshain our Berlin based Brokerage and Advisory Company BerlinInvestment.com can provide you with plots, ready to built with building permission.

Call or mail Alexander Korte today:

+49-177-8946272

ak@berlininvestment.com

Penthouse with Roof-Top Terrace

4 rooms

36,03 m² Terrace

93,69 m² Residential Area

42,46 m² roof-top terrace

call me for more information:

+49-177-8946272  (Alexander Korte)

find more offers here.

we just added a new location on our Berlin Real Estate Map of Promising Areas.



Berlin Real Estate Map of Promising Area auf einer größeren Karte anzeigen

“Schillerkiez” arround Herfurth Platz in Neukölln close to Kreuzkoelln.

Berlin Zehlendorf: Diamona & Harnisch (D&H) just announced a new condo project in Zehlendorf Königstrasse 40 (Wannsee) . On 9.000 sqm land 37 units in 5 new villas and a prewar villa (rehab) with a total of 4800 sqm living space will be developed.
Project start: 2011
End of project 1: End of 2011
End of project 2: Mid 2012

This is another example for premium high end living condos and rehabs in the best areas of Berlin.

Read more about the developer D&H here.

or what this video:




If you need information about luxury living, locations, prices, developers or if you want to buy a prime home in Berlin Germany, then give me a call or send us an email.

+49-177-8946272

Alexander Korte

Torstrasse in Berlin Mitte is what urban land planner call a “magistrale” a big trafficed street in this case 2 lanes each direction. While the real estate market in Mitte matured Torstrasse stayed unfinished until this year. Mostly all empty plots got sold.

The last undeveloped plot Torstr. 136 will host a new budget hotel starting constructions this year. This will “finish” Rosenthaler Platz and form one of the main crossings in Berlin Mitte into the main hub for hotel and budget living in central Berlin.

all seasons Hotel Berlin Mitte of arccor group @Brunnenstr. 1-2 / Weinmeister.
famous Circus Hostel @Weinbergsweg 1a / Torstreet
Circus Hotel @Rosenthaler Str. 1 / Torstreet
Easyhotel Berlin Mitte @Rosenthaler Str. 69 / Linienstr.
another new bugdget hotel (to be named) @Torstr. 136

Torstr. 67 with permission for residential or commercial usage went t o auction a couple of years ago, and did not find a buyer for te price asked. It finally got sold a couple of weeks ago. Yet no info on the usage.

Nevertheless there are still residential/condo developments and rehabs to be found on Torstreet:

Cross the street at the corner Rosa-Luxemburgstr / Torstr. (adress: Linienstr. 40) one of the most progessiv locations are finished with on of the most design orientated concepts (L-40.de) actually a residential condo for art lovers and art collectors who want to live with their art.

Another residential condo will be put on Torstr. 165 which got sold this year by an Berlin based real estate company.

A residential rehab project called “Tor Quartier” between Torstr.79/83 and Zehdeniker 28 will be finished soon. While this is a heritage building (A-listed) this project is interesting for buyers paying (high) tax in Germany.

No matter if you want to buy a rehab or a development. Give us a call, we just don’t have the time to present all our properties and knowledge on this blog.

Tel.: +49-177-8946272

Please feel free to comment below or contact us.