U
/u/wintermute-89
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Hello,
I have an opportunity to purchase a 30m2 studio in rural Helsinki area 15-20 min from the airport. Supermarkets/schools nearby.
I've been making a good money in TradFi, but want to learn and try my way around real estate.
Property is in the new (late 2023) building.
8k out of pocket, the rest (95k) is financed during construction and comes attached as a monthly repayment of 400€ for approx 18 years. Mortgage rate is about 4% and is recalculated annually, it's estimated to go down from here so financing contribution might go down.
Syndic fee is 130€.
The apartment is rented with long term contract, tenant is paying 485€ with average rent for similar units in the area being 500-520€
So right now I spend 8k+fees and am in the negative 45€ until rent is raised in a year or two.
Even disregarding Finland specifics, would you go for an opportunity like this or it's a waste of time and money?
Thanks for any advice to a newbie.
submitted by /u/wintermute-89
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Purchasing small studio in Helsinki area as a first RE investment
Continue reading...
I have an opportunity to purchase a 30m2 studio in rural Helsinki area 15-20 min from the airport. Supermarkets/schools nearby.
I've been making a good money in TradFi, but want to learn and try my way around real estate.
Property is in the new (late 2023) building.
8k out of pocket, the rest (95k) is financed during construction and comes attached as a monthly repayment of 400€ for approx 18 years. Mortgage rate is about 4% and is recalculated annually, it's estimated to go down from here so financing contribution might go down.
Syndic fee is 130€.
The apartment is rented with long term contract, tenant is paying 485€ with average rent for similar units in the area being 500-520€
So right now I spend 8k+fees and am in the negative 45€ until rent is raised in a year or two.
Even disregarding Finland specifics, would you go for an opportunity like this or it's a waste of time and money?
Thanks for any advice to a newbie.
submitted by /u/wintermute-89
[link] [comments]
Purchasing small studio in Helsinki area as a first RE investment
Continue reading...