Under what conditions can I buy a property?
In today's edition of our video blog you will learn under which conditions you can soon buy your own property!
Frequently, capital investors ask themselves:
- What role does Schufa play in the purchase of a property?
- Do I need a permanent position to buy real estate?
- Can I purchase real estate on a fixed-term employment contract?
- Can I buy a property during the probationary period?
- Can I buy a leased property with current leases?
- Can I buy a property with current installment loans?
- How much money do I need to buy a property?
- What is the cost of buying a rented property?
- At what point does rented real estate become worthwhile?
We answer these and many other questions in our video blog editions.
Here is the transcript of episode 2 to read:
Of course, there are a few basic requirements when buying a property.
If you have never paid your bills in the past, the bailiff always came to visit or your Schufa does not look good, then it does not work for you with a real estate purchase. However, if you have handled your money properly in the past and made sure that your bills were always paid on time, then the banks react very positively and are happy to accompany you in the purchase of an investment property.
The prerequisite for you to participate is a permanent employment relationship. You should also not be in a probationary period. However, banks will finance an investment property during a probationary period if you have moved seamlessly from your previous job to the new one, as this is usually seen as a career move. This is considered positive and the banks will then also accompany you with financing.
In summary, this means for you: You need a permanent employment relationship. If you have changed seamlessly, it is even possible during the probationary period. Your Schufa must be in order. Of course, you may have a leasing or installment loan, because these are all positive Schufa notes. The only thing that must not show up negatively in the Schufa is that the bailiff is at your door every month because of unpaid cell phone bills. Then you are disqualified and cannot buy a property.
Come to our seminars, we will show you the overall context and how you can realize passive income for yourself.
Schufa, permanent employment, probationary period, fixed-term employment contract, installment loan, leasing, real estate financing, real estate purchase, creditworthiness