Best regards from Nuremberg
Dr. Florian Roski
If you buy a property solely for emotional reasons, the result is all too often just as emotional. If, on the other hand, you invest purely based on cash flow and returns, the final result has a greater likelihood of being profitable.
There is nothing reprehensible about falling in love with an object, as long as it is one’s own home; after all, it is most people’s desire to live in their own dream home. However, when it comes to investing, emotions won’t get you anywhere. In most cases they even set you back. If you want to build your wealth, only facts and information will help you.
I almost could have written: Never sell! Looking back, I regret almost all of my sales, because their worth today would be significantly more than what I sold them for years ago. Of course, there are also cases where a sale is unavoidable. It can make sense to sell in individual cases, such as for limiting losses. The normal situation is that people acquired a property decades ago, kept it until today, and have made better profits than if they sold it. People who have already sold their asset no longer participate in the long-term upward trend, have to pay tax on their profits, and have less money invested that works independently of themselves. In addition, you no longer have a monthly cash flow. You do need a certain amount of money in your bank account, but it is difficult to maintain the purchasing power of money, especially relative to the current interest rate.