Finyx Realestate

All outputs are written to .finyx/ in the user's project. All guidance appends the legal disclaimer from the loaded disclaimer.md reference.

<execution_context>

${CLAUDE_SKILL_DIR}/references/disclaimer.md ${CLAUDE_SKILL_DIR}/references/methodology.md ${CLAUDE_SKILL_DIR}/references/erbpacht-detection.md ${CLAUDE_SKILL_DIR}/references/transport-assessment.md @.finyx/profile.json

</execution_context>

Workflow Routing

Determine which workflow to execute based on user input:

If intent is ambiguous, ask: "Which real estate workflow would you like to run? (scout / analyze / filter / compare / stress-test / report / rates)"

WORKFLOW 1: SCOUT

<scout_objective>

Research a location for real estate investment, gathering critical data:

• Development details (name, developer, size)
• Erbpacht status (CRITICAL - auto-exclude if undisclosed)
• Public transport quality
• Parking necessity assessment
• Market conditions

Creates: .finyx/research/locations/[location].md

After this workflow: Run analyze [location] to calculate metrics.

</scout_objective>

<scout_process>

Phase 1: Validation

Check profile exists:

[ -f .finyx/profile.json ] || { echo "ERROR: No financial profile found. Run /finyx:profile first to set up your profile."; exit 1; }

Parse location argument: Extract location name from user input (e.g., "kassel" from "scout kassel")

Check location folder:

[ -d "properties/$LOCATION" ] && echo "EXISTS" || echo "NOT_FOUND"

If NOT_FOUND, ask user:

• "Location folder 'properties/[location]' not found. Create it?"
• If yes: mkdir -p "properties/$LOCATION"

Phase 2: Document Discovery

Scan for existing documents:

find "properties/$LOCATION" -type f \( -name "*.pdf" -o -name "*.xlsx" -o -name "*.xls" \) 2>/dev/null

Note what's available:

• Price lists (Kaufpreisliste, Preisliste)
• Exposés/brochures
• Calculation examples (Berechnung)
• Floor plans

Phase 3: Development Research

Search for development information:

Web searches:

• "[location] Neubau [current year]"
• "[development name if found in docs] [location]"
• "[developer name if found] [location] project"

Extract:

• Development name
• Developer/builder name
• Project size (number of units)
• Address
• Expected completion date
• Project concept (car-free, sustainable, etc.)

Phase 4: Erbpacht Detection (CRITICAL)

This is the most important check. Erbpacht with undisclosed costs = EXCLUDE.

4.1 Document Search

Search documents for Erbpacht indicators:

grep -ri "erbpacht\|erbbaurecht\|erbbauzins" "properties/$LOCATION/" 2>/dev/null

4.2 Price List Analysis

If Excel price list available, check:

• Grundstücksanteil (land share) percentage
• If land share < 15% → ERBPACHT SUSPECTED

4.3 Web Search

Search for Erbpacht mentions:

• "[development name] [location] Erbpacht"
• "[development name] Erbbaurecht"
• "[developer name] ground lease"

4.4 Determination

ERBPACHT STATUS:

• ✅ NO ERBPACHT DETECTED - No evidence found, proceed
• ⚠️ ERBPACHT SUSPECTED - Indicators found, needs verification
• 🚨 ERBPACHT CONFIRMED - Confirmed, check if costs disclosed

If CONFIRMED:

• Search for Erbbauzins (annual ground rent) amount
• Check remaining lease term
• If costs NOT disclosed → RECOMMEND EXCLUSION

Phase 5: Transport Research

Research public transport quality:

Web searches:

• "[location] public transport network"
• "[location] tram bus S-Bahn"
• "[development name] location transport"
• "[location] ÖPNV"

Extract:

• Nearest public transport stop and distance
• Available lines (tram, bus, S-Bahn)
• Time to city center
• Network quality assessment (EXCELLENT/GOOD/MODERATE/POOR)

Phase 6: Parking Assessment

Based on transport quality + development concept:

If EXCELLENT transport AND development mentions:

• "autofrei" (car-free)
• "autoarm" (car-reduced)
• "reduced traffic"
• "walkable"
• Urban location

→ Parking: VALUABLE BUT NOT ESSENTIAL

If MODERATE/POOR transport OR:

• Suburban location
• Family-oriented development
• Limited public transport

→ Parking: ESSENTIAL

Phase 7: Market Research

Research local market conditions:

Web searches:

• "[location] housing market [current year]"
• "[location] Wohnungsmarkt"
• "[location] rental demand"
• "[location] property prices development"

Extract:

• Housing deficit/surplus
• Price trend
• Rental demand level
• Major employers/universities nearby

Phase 8: Write Research File

Create .finyx/research/locations/[location].md:

# Location Research: [LOCATION]

**Researched:** [DATE]
**Status:** [ACTIVE | EXCLUDED]
**Exclusion Reason:** [if excluded]

---

## Development Overview

| Item | Details |
|------|---------|
| Name | [DEVELOPMENT_NAME] |
| Developer | [DEVELOPER] |
| Address | [ADDRESS] |
| Size | [NUM_UNITS] units |
| Completion | [DATE] |
| Concept | [CONCEPT] |

---

## Erbpacht Status

**Status:** [✅ NO ERBPACHT DETECTED | ⚠️ SUSPECTED | 🚨 CONFIRMED]

[Details and evidence]

**Evidence:**
- [Evidence 1]
- [Evidence 2]

**Action:** [PROCEED | VERIFY | EXCLUDE]

---

## Public Transport

| Item | Details |
|------|---------|
| Nearest Stop | [STOP_NAME] ([DISTANCE]) |
| Lines | [LINES] |
| City Center | [MINUTES] minutes |
| Network Quality | [EXCELLENT/GOOD/MODERATE/POOR] |

**Assessment:** [TRANSPORT_ASSESSMENT]

---

## Parking Necessity

**Verdict:** [ESSENTIAL | VALUABLE BUT NOT ESSENTIAL | OPTIONAL]

**Reasoning:**
[Reasoning based on transport + development concept]

---

## Market Conditions

| Metric | Value | Source |
|--------|-------|--------|
| Housing Deficit | [VALUE] | [SOURCE] |
| Price Trend | [TREND]%/year | [SOURCE] |
| Rental Demand | [HIGH/MODERATE/LOW] | [SOURCE] |

---

## Documents Found

| File | Type | Notes |
|------|------|-------|
[Document list from properties folder]

---

## Sources

[List of web sources with URLs]

---

## Recommendation

**Status:** [PROCEED | CAUTION | EXCLUDE]

[Recommendation text]

Phase 9: Update STATE.md

Add location to STATE.md:

| [location] | 🔍 SCOUTED | - | - | [STATUS] |

Phase 10: Output Summary

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 FINYX ► SCOUT: [LOCATION]
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

📍 Development: [NAME]
   Developer: [DEVELOPER]
   Units: [COUNT]

⚠️ Erbpacht: [STATUS]
   [Details if relevant]

🚇 Transport: [QUALITY]
   Nearest: [STOP] ([DISTANCE])

🅿️ Parking: [VERDICT]

📊 Market: [SUMMARY]

✅ Research saved: .finyx/research/locations/[location].md

📋 Next:
   [CONTEXTUAL - either analyze or exclude recommendation]

Append the legal disclaimer from the loaded disclaimer.md reference at the end of all advisory output.

</scout_process>

<erbpacht_rules>

Erbpacht Detection Rules

Document Indicators (HIGH confidence)

• Explicit "Erbpacht" or "Erbbaurecht" mention
• "Erbbauzins" (ground rent) mentioned
• Ground lease terms or expiration dates

Price List Indicators (MEDIUM confidence)

• Grundstücksanteil < 15% of purchase price
• Separate "Gebäudeanteil" at >85%
• No land value in breakdown

Web Indicators (MEDIUM confidence)

• Developer known for Erbpacht
• Location on church/municipal land
• Historical Erbpacht district

Action Matrix

</erbpacht_rules>

WORKFLOW 2: ANALYZE

<analyze_objective>

Analyze all properties in a location folder:

1. Extract units from price lists (Excel/PDF)
2. Calculate metrics (yield, price/m², cashflow)
3. Apply investor's tax rate for after-tax projections
4. Rank by real metrics (not brochure IRR)

Creates:

• .finyx/analysis/[location]/UNITS.md — All extracted units
• .finyx/analysis/[location]/RANKED.md — Sorted by metrics

After this workflow: Run filter [location] to apply criteria and create shortlist.

</analyze_objective>

<analyze_process>

Phase 1: Validation

Check profile and location:

[ -f .finyx/profile.json ] || { echo "ERROR: No financial profile found. Run /finyx:profile first to set up your profile."; exit 1; }
[ -d "properties/$LOCATION" ] || echo "NO_LOCATION"

Load investor profile: Read .finyx/profile.json to get:

• investor.marginalRate — For tax benefit calculations
• investor.country — For country-specific rules
• criteria.* — For later filtering
• assumptions.* — For projections

Phase 2: Find Price Lists

Search for price list files:

find "properties/$LOCATION" -type f \( -name "*[Pp]reis*" -o -name "*[Kk]aufpreis*" -o -name "*[Pp]rice*" \) \( -name "*.xlsx" -o -name "*.xls" -o -name "*.pdf" \)

If Excel file found: Extract data programmatically If PDF only: May need manual extraction or OCR

Phase 3: Extract Units

From Excel Price List

For each row in the price list, extract:

Calculate derived fields:

Price per m² = Total Price ÷ Size
Gross Yield = (Monthly Rent × 12) ÷ Total Price × 100

Handle Missing Rent Data

If rent not in price list, estimate:

• Check if developer calculation docs have rent estimates
• Use local market rate (€/m²) from research
• Flag as ESTIMATED

Phase 4: Calculate Metrics Per Unit

For each unit, calculate:

4.1 Basic Metrics

Total Price = Unit Price + Kitchen (if not included) + Parking (if separate)
Price per m² = Total Price ÷ Size
Monthly Rent = Given or Estimated
Annual Rent = Monthly Rent × 12
Gross Yield = Annual Rent ÷ Total Price × 100

4.2 Upfront Cash (Kaufnebenkosten)

Nebenkosten = Total Price × NK_RATE (from config, typically 8%)
Construction Interest = Total Price × 50% × Interest Rate × (Construction Months ÷ 12)
Total Upfront = Nebenkosten + Construction Interest

4.3 Monthly Cashflow (Before Tax)

INCOME:
+ Monthly Rent

EXPENSES:
- Mortgage Payment = Total Price × (Interest Rate + Tilgung Rate) ÷ 12
- Verwaltung = Size × €1.00
- Rücklage = Size × €0.60

Real Deficit = Rent - Mortgage - Verwaltung - Rücklage

4.4 Tax Benefit Calculation

Years 1-4 (with Sonder-AfA):

Building Portion = Total Price × 92%
Annual Deductions:
  + Interest = Total Price × Interest Rate
  + Verwaltung = Size × €1.00 × 12
  + Sonder-AfA = Building Portion × 5%
  + Regular AfA = Building Portion × 2%

Tax Loss = Annual Rent - Annual Deductions
Tax Benefit Y1-4 = |Tax Loss| × Marginal Rate
Monthly Benefit Y1-4 = Tax Benefit Y1-4 ÷ 12

Years 5-10 (Regular AfA only):

Annual Deductions:
  + Interest (declining, estimate 85% of Y1)
  + Verwaltung
  + Regular AfA = Building Portion × 2%

Tax Loss = Annual Rent - Annual Deductions
Tax Benefit Y5-10 = |Tax Loss| × Marginal Rate
Monthly Benefit Y5-10 = Tax Benefit Y5-10 ÷ 12

4.5 After-Tax Cashflow

Cashflow Y1-4 = Real Deficit + Monthly Benefit Y1-4
Cashflow Y5-10 = Real Deficit + Monthly Benefit Y5-10

4.6 Exit Projection (Year 10)

Exit Value = Total Price × (1 + Appreciation Rate)^10
Sale Costs = Exit Value × 7%
Remaining Loan = Total Price × (1 - 10 years of Tilgung)
Net at Sale = Exit Value - Sale Costs - Remaining Loan

Total Cash Invested = Upfront + (Negative Cashflow over 10 years)
Profit = Net at Sale - Total Cash Invested
ROE = Profit ÷ Total Cash Invested × 100

Phase 5: Write UNITS.md

Create .finyx/analysis/[location]/UNITS.md:

# Units Analysis: [LOCATION]

**Analyzed:** [DATE]
**Source:** [PRICE_LIST_FILE]
**Total Units:** [COUNT]

## Summary

| Metric | Min | Max | Avg |
|--------|-----|-----|-----|
| Price | €[MIN] | €[MAX] | €[AVG] |
| Size | [MIN]m² | [MAX]m² | [AVG]m² |
| Price/m² | €[MIN] | €[MAX] | €[AVG] |
| Yield | [MIN]% | [MAX]% | [AVG]% |

## All Units

| Unit | Floor | Size | Rooms | Price | €/m² | Rent | Yield | Parking |
|------|-------|------|-------|-------|------|------|-------|---------|
[TABLE OF ALL UNITS]

## Calculation Assumptions

| Parameter | Value | Source |
|-----------|-------|--------|
| Marginal Tax Rate | [RATE]% | Investor profile |
| Interest Rate | [RATE]% | [SOURCE] |
| Tilgung | [RATE]% | [SOURCE] |
| Nebenkosten | [RATE]% | [STATE] standard |
| Construction Period | [MONTHS] months | [SOURCE] |
| Appreciation | [RATE]%/year | Conservative |
| Verwaltung | €[RATE]/m²/month | Standard |
| Rücklage | €[RATE]/m²/month | Standard |

Phase 6: Write RANKED.md

Create .finyx/analysis/[location]/RANKED.md:

# Ranked Units: [LOCATION]

**Ranked:** [DATE]
**Criteria:** Gross yield (primary), Price/m² (secondary)

## Top 10 by Yield

| Rank | Unit | Price | Size | Yield | €/m² | Parking | Cashflow Y1-4 | Cashflow Y5-10 |
|------|------|-------|------|-------|------|---------|---------------|----------------|
[TOP 10 BY YIELD]

## Top 10 by Value (Price/m²)

| Rank | Unit | Price | Size | Yield | €/m² | Parking | Floor |
|------|------|-------|------|-------|------|---------|-------|
[TOP 10 BY PRICE/M²]

## Units with Parking Included

| Unit | Price | Size | Yield | €/m² | Floor | Cashflow Y1-4 |
|------|-------|------|-------|------|-------|---------------|
[PARKING UNITS]

## Detailed Analysis: Top 5

[For each of top 5 by yield, show full calculation breakdown]

### [UNIT_ID]

**Basic Info:**
- Floor: [FLOOR]
- Size: [SIZE] m²
- Rooms: [ROOMS]
- Parking: [YES/NO]

**Pricing:**
- Unit Price: €[PRICE]
- Kitchen: [INCLUDED / €X]
- Parking: [INCLUDED / €X / NOT INCLUDED]
- **Total: €[TOTAL]**
- Price/m²: €[PRICE_M2]

**Income:**
- Monthly Rent: €[RENT]
- Annual Rent: €[ANNUAL]
- **Gross Yield: [YIELD]%**

**Upfront Cash:**
- Nebenkosten ([RATE]%): €[NK]
- Construction Interest: €[CONST_INT]
- **Total Upfront: €[TOTAL_UPFRONT]**

**Monthly Cashflow:**

Rent: +€[RENT] Mortgage: -€[MORTGAGE] Verwaltung: -€[VERWALTUNG] Rücklage: -€[RUCKLAGE] ───────────────────────────── Real Deficit: €[DEFICIT]/month

Tax Benefit Y1-4: +€[BENEFIT_Y1_4] After-Tax Y1-4: €[CASHFLOW_Y1_4]/month ✓

Tax Benefit Y5-10: +€[BENEFIT_Y5_10] After-Tax Y5-10: €[CASHFLOW_Y5_10]/month

**10-Year Projection:**
- Total Cash Invested: €[TOTAL_INVESTED]
- Exit Value (2%/yr): €[EXIT_VALUE]
- Net at Sale: €[NET_SALE]
- **Profit: €[PROFIT]**
- **ROE: [ROE]%**

Phase 7: Update STATE.md

Update location status in STATE.md:

| [location] | 📊 ANALYZED | [COUNT] | - | Active |

Phase 8: Output Summary

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 FINYX ► ANALYZE: [LOCATION]
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

📊 Extracted [COUNT] units from [PRICE_LIST]

Yield Range:    [MIN]% - [MAX]%
Price Range:    €[MIN] - €[MAX]
Size Range:     [MIN]m² - [MAX]m²

Top 5 by Yield:
1. [UNIT] - [YIELD]% - €[PRICE] - [SIZE]m²
2. [UNIT] - [YIELD]% - €[PRICE] - [SIZE]m²
3. [UNIT] - [YIELD]% - €[PRICE] - [SIZE]m²
4. [UNIT] - [YIELD]% - €[PRICE] - [SIZE]m²
5. [UNIT] - [YIELD]% - €[PRICE] - [SIZE]m²

Units with Parking: [COUNT]

✅ Analysis saved:
   .finyx/analysis/[location]/UNITS.md
   .finyx/analysis/[location]/RANKED.md

📋 Next: filter [location] to apply criteria

Append the legal disclaimer from the loaded disclaimer.md reference at the end of all advisory output.

</analyze_process>

<analyze_notes>

Excel Extraction Tips

When reading Excel price lists:

• Headers are often in row 1 or 2
• Look for merged cells in headers
• Unit IDs may have prefixes (WE, Whg, etc.)
• Prices may be formatted with currency symbols
• Some cells may have formulas

Handling Edge Cases

• No rent data: Use market rate estimate, flag as estimated
• Multiple buildings: Analyze as separate locations or combine
• Missing parking info: Assume no parking unless stated
• Kitchen unclear: Check exposé or assume not included

</analyze_notes>

WORKFLOW 3: FILTER

<filter_objective>

Apply investor's criteria to analyzed units and create a filtered shortlist:

1. Load criteria from config
2. Apply filters (yield, price, size, parking, floor)
3. Document exclusions with reasons
4. Create shortlist of qualifying units

Creates:

• .finyx/analysis/[location]/SHORTLIST.md — Qualifying units
• .finyx/analysis/[location]/EXCLUSIONS.md — Excluded units with reasons

After this workflow: Run compare to compare across locations.

</filter_objective>

<filter_process>

Phase 1: Load Data

Check profile exists:

[ -f .finyx/profile.json ] || { echo "ERROR: No financial profile found. Run /finyx:profile first to set up your profile."; exit 1; }

Load profile: Read .finyx/profile.json for criteria:

• criteria.minYield
• criteria.maxPrice
• criteria.minSize / criteria.maxSize
• criteria.bedrooms
• criteria.parkingRequired
• criteria.excludeGroundFloor
• criteria.excludeErbpacht

Load analyzed units: Read .finyx/analysis/[location]/UNITS.md

Phase 2: Apply Filters

For each unit, check against criteria:

PASS/FAIL Criteria:
─────────────────────────────────────────
□ Yield ≥ [minYield]%
□ Price ≤ €[maxPrice]
□ Size between [minSize] - [maxSize] m²
□ Bedrooms in [bedrooms] list
□ If parkingRequired: has parking
□ If excludeGroundFloor: not ground floor
□ If excludeErbpacht: no Erbpacht detected

Track exclusion reasons:

• "Yield below minimum (X% < Y%)"
• "Price exceeds maximum (€X > €Y)"
• "Size outside range (Xm²)"
• "Wrong bedroom count"
• "No parking (required)"
• "Ground floor (excluded)"

Phase 3: Rank Qualifying Units

Sort qualifying units by:

1. Gross yield (descending)
2. Price per m² (ascending)
3. Cashflow Y1-4 (descending)

Phase 4: Write SHORTLIST.md

Create .finyx/analysis/[location]/SHORTLIST.md:

# Shortlist: [LOCATION]

**Filtered:** [DATE]
**Total Units Analyzed:** [TOTAL]
**Units Qualifying:** [QUALIFYING]
**Units Excluded:** [EXCLUDED]

## Criteria Applied

| Criterion | Value | Units Excluded |
|-----------|-------|----------------|
| Min Yield | [X]% | [N] |
| Max Price | €[X] | [N] |
| Size Range | [X]-[Y] m² | [N] |
| Bedrooms | [X] | [N] |
| Parking Required | [YES/NO] | [N] |
| Exclude Ground Floor | [YES/NO] | [N] |

## Shortlisted Units

| Rank | Unit | Price | Size | Yield | €/m² | Parking | Floor | Y1-4 | Y5-10 | Profit |
|------|------|-------|------|-------|------|---------|-------|------|-------|--------|
[SHORTLIST TABLE]

## Top 3 Detailed

### 1. [UNIT_ID] — [HEADLINE]

[Full analysis breakdown - same format as RANKED.md top 5]

### 2. [UNIT_ID] — [HEADLINE]

[Full analysis breakdown]

### 3. [UNIT_ID] — [HEADLINE]

[Full analysis breakdown]

## Selection Notes

[Any observations about the shortlist - e.g., "All top units lack parking but location research indicates parking not essential"]

Phase 5: Write EXCLUSIONS.md

Create .finyx/analysis/[location]/EXCLUSIONS.md:

# Exclusions: [LOCATION]

**Date:** [DATE]
**Total Excluded:** [COUNT]

## By Reason

| Reason | Count | % of Total |
|--------|-------|------------|
| Yield below [X]% | [N] | [%] |
| Price above €[X] | [N] | [%] |
| Size out of range | [N] | [%] |
| No parking | [N] | [%] |
| Ground floor | [N] | [%] |

## Excluded Units

| Unit | Price | Yield | Reason |
|------|-------|-------|--------|
[EXCLUSION TABLE]

## Near Misses

Units that ALMOST qualified (within 10% of criteria):

| Unit | Price | Yield | Issue | How Close |
|------|-------|-------|-------|-----------|
[NEAR MISS TABLE]

Phase 6: Update STATE.md

Update location status:

| [location] | ✅ FILTERED | [TOTAL] | [SHORTLIST_COUNT] | Active |

Phase 7: Output Summary

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 FINYX ► FILTER: [LOCATION]
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

Criteria Applied:
  Min Yield:     [X]%
  Max Price:     €[X]
  Size Range:    [X]-[Y] m²
  Parking:       [Required/Preferred/Any]
  Ground Floor:  [Excluded/Allowed]

Results:
  Analyzed:      [TOTAL] units
  Excluded:      [EXCLUDED] units
  Shortlisted:   [QUALIFYING] units

Shortlist:
1. [UNIT] - €[PRICE] - [YIELD]% - [SIZE]m² [PARKING]
2. [UNIT] - €[PRICE] - [YIELD]% - [SIZE]m² [PARKING]
3. [UNIT] - €[PRICE] - [YIELD]% - [SIZE]m² [PARKING]

✅ Saved:
   .finyx/analysis/[location]/SHORTLIST.md
   .finyx/analysis/[location]/EXCLUSIONS.md

📋 Next:
   filter [other-location]  Filter another location
   compare                  Compare all shortlists

Append the legal disclaimer from the loaded disclaimer.md reference at the end of all advisory output.

</filter_process>

<filter_edge_cases>

No Units Qualify

If zero units pass all criteria:

⚠️ No units in [LOCATION] meet all criteria.

Closest matches:
[Show top 5 by fewest criteria failures]

Consider:
• Relaxing minYield from [X]% to [Y]%
• Increasing maxPrice from €[X] to €[Y]
• Adjusting size range

Very Few Units Qualify

If <3 units qualify, suggest relaxing least important criteria.

Manual Exclusions

If user has manually excluded units, respect those:

Additionally excluded by user:
• [UNIT] - "[REASON]"

</filter_edge_cases>

WORKFLOW 4: COMPARE

<compare_objective>

Create comprehensive side-by-side comparison of all shortlisted properties:

• Gather shortlists from all analyzed locations
• Present unified comparison table
• Provide decision framework for each option
• Highlight trade-offs

Output: Display comparison and update .finyx/STATE.md with comparison status.

After this workflow: Run stress-test for scenarios, or report to generate advisor briefing.

</compare_objective>

<compare_process>

Phase 1: Gather Shortlists

Check profile exists:

[ -f .finyx/profile.json ] || { echo "ERROR: No financial profile found. Run /finyx:profile first to set up your profile."; exit 1; }

Find all shortlist files:

find .finyx/analysis -name "SHORTLIST.md" 2>/dev/null

For each shortlist, extract:

• Location name
• Shortlisted units with all metrics

If no shortlists found: "No shortlists created yet. Run filter [location] first."

Phase 2: Load Investor Profile

Read .finyx/profile.json for:

• Liquid assets (for buffer calculation)
• Criteria (for highlighting matches)
• Preferences (parking, floor, etc.)

Phase 3: Build Comparison Table

Display banner:

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 FINYX ► COMPARE SHORTLIST
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

Main Comparison Table:

┌─────────────────────────────────────────────────────────────────────────────────┐
│                           SHORTLIST COMPARISON                                   │
├─────────────────────────────────────────────────────────────────────────────────┤
│ Unit       │ Price    │ Upfront │ Size   │ Yield │ Parking │ Y1-4    │ Y5-10   │
├────────────┼──────────┼─────────┼────────┼───────┼─────────┼─────────┼─────────┤
│ kassel/0.18│ €272,403 │ €27,762 │ 47.8m² │ 3.16% │ ❌      │ +€175   │ -€351   │
│ kassel/4.1 │ €377,761 │ €38,503 │ 62.7m² │ 2.95% │ ✅      │ +€212   │ -€517   │
│ kassel/3.7 │ €401,535 │ €40,926 │ 73.8m² │ 3.20% │ ❌      │ +€262   │ -€514   │
└────────────┴──────────┴─────────┴────────┴───────┴─────────┴─────────┴─────────┘

Extended Metrics Table:

┌─────────────────────────────────────────────────────────────────────────────────┐
│                           10-YEAR PROJECTIONS                                    │
├─────────────────────────────────────────────────────────────────────────────────┤
│ Unit       │ Total Invested │ Exit Value │ Net at Sale │ Profit  │ ROE    │
├────────────┼────────────────┼────────────┼─────────────┼─────────┼────────┤
│ kassel/0.18│ €44,634        │ €332,015   │ €75,274     │ €30,640 │ 69%    │
│ kassel/4.1 │ €65,551        │ €460,468   │ €104,535    │ €38,984 │ 59%    │
│ kassel/3.7 │ €65,358        │ €489,471   │ €111,108    │ €45,750 │ 70%    │
└────────────┴────────────────┴────────────┴─────────────┴─────────┴────────┘

Phase 4: Metric Winners

Highlight best in each category:

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 WINNERS BY METRIC
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

🏆 Lowest Price:        [UNIT] (€[PRICE])
🏆 Lowest Upfront:      [UNIT] (€[UPFRONT])
🏆 Highest Yield:       [UNIT] ([YIELD]%)
🏆 Best €/m²:           [UNIT] (€[PRICE_M2])
🏆 Parking Included:    [UNIT]
🏆 Best Y1-4 Cashflow:  [UNIT] (+€[CASHFLOW]/mo)
🏆 Lowest Y5-10 Bleed:  [UNIT] (-€[CASHFLOW]/mo)
🏆 Highest Profit:      [UNIT] (€[PROFIT])
🏆 Highest ROE:         [UNIT] ([ROE]%)
🏆 Largest Unit:        [UNIT] ([SIZE]m²)

Phase 5: Liquidity Impact

Show remaining buffer after each option:

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 LIQUIDITY IMPACT
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

Available Assets: €[LIQUID_ASSETS]

│ Unit       │ Upfront  │ Remaining │ Y5-10 Annual │ Buffer Years │
├────────────┼──────────┼───────────┼──────────────┼──────────────┤
│ [UNIT]     │ €[UP]    │ €[REM]    │ €[ANNUAL]    │ [YEARS] years│

✅ All options leave comfortable buffers.

Phase 6: Decision Framework

Present "Choose X if..." for each option:

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 DECISION FRAMEWORK
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

┌─────────────────────────────────────────────────────┐
│ CHOOSE [UNIT] IF:                                   │
├─────────────────────────────────────────────────────┤
│ • [Condition 1]                                     │
│ • [Condition 2]                                     │
│                                                     │
│ TRADE-OFF: [What this unit lacks]                   │
└─────────────────────────────────────────────────────┘

Phase 7: Parking Consideration

If mixed parking options exist:

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 PARKING ANALYSIS
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

Based on location research:
[PARKING_VERDICT from scout] - [REASONING]

Phase 8: Next Actions

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 NEXT STEPS
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

📊 stress-test    Run 0% appreciation & rate hike scenarios
📝 report         Generate advisor briefing
📝 report --lang pt  Generate in Portuguese

When ready to decide:
• Visit the development if possible
• Confirm financing with bank
• Consult your tax advisor
• Reserve your chosen unit

Phase 9: Update STATE.md

Update state to reflect comparison done:

### Phase: COMPARED
### Last Action: Side-by-side comparison of [N] shortlisted units

Append the legal disclaimer from the loaded disclaimer.md reference at the end of all advisory output.

</compare_process>

WORKFLOW 5: STRESS-TEST

<stress_objective>

Run stress test scenarios on shortlisted properties:

1. Zero appreciation scenario (0% growth over 10 years)
2. Interest rate hike scenario (rates increase at refinancing)
3. Vacancy scenario (extended periods without rent)
4. Combined worst-case scenario

Creates: .finyx/analysis/STRESS-TEST.md

After this workflow: Run report to include stress test results in advisor briefing.

</stress_objective>

<stress_process>

Phase 1: Load Data

Check profile exists:

[ -f .finyx/profile.json ] || { echo "ERROR: No financial profile found. Run /finyx:profile first to set up your profile."; exit 1; }

Load profile: Read .finyx/profile.json for:

• Investor profile
• Current assumptions (interest rate, appreciation)

Load shortlists: Read all .finyx/analysis/*/SHORTLIST.md

Extract baseline projections for each shortlisted unit:

• Total price
• Upfront costs
• Monthly cashflow Y1-4
• Monthly cashflow Y5-10
• Exit value (baseline)
• Profit (baseline)

Phase 2: Scenario 1 - Zero Appreciation

For each shortlisted unit, recalculate with 0% appreciation:

Exit Value (0%) = Total Price (no growth)
Sale Costs = Exit Value × 7%
Remaining Loan = [same as baseline]
Net at Sale = Exit Value - Sale Costs - Remaining Loan

Total Cash Invested = [same as baseline]
Profit (0%) = Net at Sale - Total Cash Invested
ROE (0%) = Profit ÷ Total Cash Invested × 100

Output table:

Phase 3: Scenario 2 - Interest Rate Hike

Assumptions:

• Current rate: X.XX% (from config)
• Hike scenario: +2% at year 10 refinancing
• Calculate new monthly payment after refinancing

For each unit:

Current Monthly Payment = Total Price × (Interest + Tilgung) ÷ 12
Remaining Loan at Y10 = Total Price × (1 - 10 years Tilgung)

New Rate = Current Rate + 2%
New Monthly Payment = Remaining Loan × (New Rate + Tilgung) ÷ 12
Payment Increase = New Payment - Current Payment

New Monthly Cashflow = Current Rent - New Payment - Expenses

Output table:

Phase 4: Scenario 3 - Extended Vacancy

Assumptions:

• Scenario: 3 months vacancy every 2 years
• Impact: Loss of 12.5% of annual rent

For each unit:

Annual Rent Loss = Monthly Rent × 1.5 (avg per year)
Impact on Y1-4 Cashflow = Rent Loss - (Rent Loss × Tax Rate)
Impact on Y5-10 Cashflow = Rent Loss - (Rent Loss × Tax Rate)

10-Year Vacancy Cost = Annual Rent Loss × 10

Output table:

Phase 5: Scenario 4 - Combined Worst Case

Combine all stress factors:

• 0% appreciation
• +2% interest rate hike at refinancing
• Vacancy losses

For each unit:

Exit Value = Purchase Price (no appreciation)
Vacancy Cost = 10-Year Vacancy Loss
Higher Payments Y10+ = Payment Increase × remaining months

Worst Case Profit = 0% Profit - Vacancy Cost

Output table:

Status indicators:

• PROFITABLE: Still makes money
• BREAK-EVEN: Within ±€2,000
• LOSS: Loses money but <€10,000
• SIGNIFICANT LOSS: Loses >€10,000

Phase 6: Risk Assessment

Generate risk summary for each unit:

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 RISK ASSESSMENT: [UNIT]
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

Baseline Profit:    €[PROFIT]
Worst Case:         €[WORST]
Risk Buffer:        €[BUFFER]

Key Vulnerabilities:
• [Appreciation sensitivity: HIGH/MEDIUM/LOW]
• [Interest rate sensitivity: HIGH/MEDIUM/LOW]
• [Vacancy sensitivity: HIGH/MEDIUM/LOW]

Resilience Score: [1-10]

Assessment: [DESCRIPTION]

Resilience scoring:

• 10: Profitable in worst case
• 7-9: Break-even or small loss in worst case
• 4-6: Moderate loss in worst case
• 1-3: Significant loss in worst case

Phase 7: Write STRESS-TEST.md

Create .finyx/analysis/STRESS-TEST.md:

# Stress Test Analysis

**Date:** [DATE]
**Units Tested:** [COUNT]

## Executive Summary

| Unit | Baseline | Worst Case | Resilience |
|------|----------|------------|------------|
| [UNIT] | €[BASE] | €[WORST] | [SCORE]/10 |

**Most Resilient:** [UNIT] - [REASON]
**Most Vulnerable:** [UNIT] - [REASON]

## Scenario 1: Zero Appreciation

Assumption: Property values remain flat for 10 years.

| Unit | Baseline Profit | 0% Profit | Difference | Verdict |
|------|-----------------|-----------|------------|---------|
[TABLE]

**Analysis:** [COMMENTARY]

## Scenario 2: Interest Rate Hike

Assumption: Rates increase by 2% at refinancing (Year 10).

| Unit | Current Payment | +2% Payment | Monthly Impact |
|------|-----------------|-------------|----------------|
[TABLE]

**Analysis:** [COMMENTARY]

## Scenario 3: Extended Vacancy

Assumption: 3 months vacancy every 2 years (12.5% annual loss).

| Unit | Annual Rent | Vacancy Loss | 10-Year Impact |
|------|-------------|--------------|----------------|
[TABLE]

**Analysis:** [COMMENTARY]

## Scenario 4: Combined Worst Case

All stress factors combined.

| Unit | Baseline | Worst Case | Status |
|------|----------|------------|--------|
[TABLE]

**Analysis:** [COMMENTARY]

## Individual Risk Profiles

### [UNIT_1]

[Full risk assessment]

## Recommendations

### If Risk Tolerance is LOW:
Choose: [UNIT] - [REASON]

### If Risk Tolerance is MEDIUM:
Choose: [UNIT] - [REASON]

### If Risk Tolerance is HIGH:
Choose: [UNIT] - [REASON]

## Mitigating Factors

1. **Strong rental market:** [LOCATION] has [VACANCY_RATE]% vacancy
2. **Tax benefits:** Losses reduce tax burden
3. **Forced savings:** Tilgung builds equity regardless
4. **Inflation hedge:** Rents typically rise with inflation
5. **Liquidity buffer:** Investor has €[BUFFER] remaining after purchase

Phase 8: Update STATE.md

### Phase: STRESS-TESTED
### Last Action: Ran 4 stress scenarios on [N] units
### Stress Test: .finyx/analysis/STRESS-TEST.md

Phase 9: Output Summary

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 FINYX ► STRESS TEST RESULTS
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

Scenarios Tested:
  1. Zero Appreciation (0% growth)
  2. Interest Rate Hike (+2%)
  3. Extended Vacancy (12.5% loss)
  4. Combined Worst Case

Results Summary:

│ Unit       │ Baseline │ Worst Case │ Resilience │
├────────────┼──────────┼────────────┼────────────┤
│ [UNIT]     │ €[BASE]  │ €[WORST]   │ [SCORE]/10 │

Key Findings:
  Most Resilient: [UNIT] (still profitable in worst case)
  Most Vulnerable: [UNIT] (sensitive to [FACTOR])

Recommendation:
  [SUMMARY RECOMMENDATION]

✅ Saved: .finyx/analysis/STRESS-TEST.md

📋 Next:
   report          Generate advisor briefing
   report --lang pt  Generate in Portuguese

Append the legal disclaimer from the loaded disclaimer.md reference at the end of all advisory output.

</stress_process>

<stress_scenarios>

Custom Scenarios

Users can request additional scenarios:

stress-test --rent-drop 10

Model 10% rent decrease scenario.

stress-test --rate 5.5

Model specific interest rate scenario.

stress-test --vacancy 6

Model 6 months vacancy per 2 years.

</stress_scenarios>

WORKFLOW 6: REPORT

<report_objective>

Generate a comprehensive financial advisor briefing document:

1. Load all analysis data (config, research, shortlists)
2. Fill briefing template with calculated data
3. Translate if language specified
4. Save to output folder

Creates: .finyx/output/BRIEFING-[DATE].md

Usage:

• report — Full advisor briefing (Markdown)
• report --short — 1-page executive summary
• report --pdf — Generate PDF report
• report --short --pdf — 1-page PDF summary
• report --lang pt — Generate in Portuguese
• report --short --pdf --lang de — Short PDF in German

</report_objective>

<short_report>

Short Report Format (--short flag)

When --short is specified, generate a 1-page executive summary instead of the full briefing.

Creates: .finyx/output/SUMMARY-[DATE].md

Template

# Investment Summary: [LOCATION]

**Date:** [DATE] | **Investor:** [TAX_CLASS] | **Tax Rate:** [RATE]%

---

## Top 5 Options

| Unit | Price | Yield | Upfront | Y1-4/mo | Y5-10/mo | 10yr Profit | ROE |
|------|-------|-------|---------|---------|----------|-------------|-----|
| [1]  | €XXX  | X.X%  | €XX     | +€XX    | -€XX     | €XXk        | XX% |

**Winners:** Yield: [UNIT] | Lowest Price: [UNIT] | Best ROE: [UNIT] | Parking: [UNIT]

---

## Recommendation

**Top Pick:** [UNIT_ID] — €[PRICE] — [YIELD]% yield

### Why This Unit?

1. **[REASON 1]** — [Brief explanation]
2. **[REASON 2]** — [Brief explanation]
3. **[REASON 3]** — [Brief explanation]

### Trade-offs to Accept

- [Trade-off 1]
- [Trade-off 2]

### Alternative: [UNIT_ID]

Choose this if: [One sentence explaining when alternative is better]

---

## Key Risks

| Risk | Impact | Mitigation |
|------|--------|------------|
| Negative cashflow Y5-10 | -€[X]/mo | Covered by buffer (€[X] available) |
| 0% appreciation | -€[X]k profit | Still break-even / modest loss |
| Rate hike at refinancing | +€[X]/mo | Can sell tax-free at Y10 |

---

## Questions for Your Advisor

1. **Interest Rate:** Developer offers [X]%. Can we get [Y]%? (Saves €[Z] over 10 years)
2. **Tax Optimization:** With [INCOME] income and [TAX_CLASS], is 100% financing optimal?
3. **Timing:** Construction completes [DATE]. Any tax implications for [YEAR]?
4. **Exit Strategy:** Sell at year 10 tax-free vs. hold longer — what's your view?
5. **Portfolio Fit:** How does this fit with existing investments/pension strategy?

---

## Next Steps

1. [ ] Discuss with advisor using this summary
2. [ ] Get financing quotes (target: [X]%)
3. [ ] Visit development if possible
4. [ ] Reserve unit within [X] days if proceeding

---

*Full analysis: Run `report` for detailed briefing*

Short Report Generation Logic

1. Top 5 Selection: Take top 5 from shortlist ranked by yield
2. Recommendation: Highest yield unit with parking preference satisfied (if required)
3. Why Reasons: Pull from yield ranking, price efficiency, cashflow, size, risk
4. Trade-offs: What the chosen unit lacks vs alternatives
5. Alternative: Second-best option with different characteristics
6. Risks: Top 3 from stress test results
7. Questions: Derive from analysis gaps and optimization opportunities

</short_report>

<report_process>

Phase 1: Load All Data

Check profile exists:

[ -f .finyx/profile.json ] || { echo "ERROR: No financial profile found. Run /finyx:profile first to set up your profile."; exit 1; }

Load investor profile: Read .finyx/profile.json

Load location research: Read all .finyx/research/locations/*.md

Load market research: Read .finyx/research/market/RATES-*.md (latest)

Load shortlists: Read all .finyx/analysis/*/SHORTLIST.md

Verify data completeness:

• Config exists ✓
• At least one shortlist exists ✓
• Interest rate research exists (if not, fetch current rates)

Phase 2: Compile Report Data

From profile.json:

• Investor profile (income, tax rate, assets)
• Investment criteria
• Assumptions

From research:

• Location details
• Erbpacht status
• Transport assessment
• Parking verdict
• Excluded locations with reasons

From shortlists:

• All shortlisted units
• Full metrics for each
• Comparison data

Calculate:

• Summary statistics
• Winner by each metric
• Liquidity impact

Phase 3: Interest Rate Section

If rate research exists: Use data from .finyx/research/market/RATES-*.md

If no rate research: Perform quick web search for current rates:

• "Baufinanzierung Zinsen aktuell [year]"
• Extract top rate, typical range

Compare with developer rate: Calculate difference and potential savings.

Phase 4: Load Template

Read template from ${CLAUDE_SKILL_DIR}/references/briefing.md

Phase 5: Fill Template

Replace all {{PLACEHOLDER}} variables with actual data.

Key sections to fill:

Executive Summary

{{INVESTMENT_DESCRIPTION}} → "Investment in 2-bedroom apartment in [LOCATION], Germany..."
{{UNITS_TABLE}} → Shortlist comparison table
{{GROSS_INCOME}} → From profile
{{MARGINAL_TAX_RATE}} → From profile
{{LIQUID_ASSETS}} → From profile
{{CASHFLOW_Y1_4}} → Range from shortlist
{{CASHFLOW_Y5_10}} → Range from shortlist
{{PROFIT_RANGE}} → Range from shortlist
{{MAIN_CONCERNS}} → Interest rate, negative cashflow, appreciation risk

Priority Questions

{{DEVELOPER_RATE}} → From analysis assumptions
{{MARKET_RATE}} → From rate research
{{INTEREST_SAVINGS}} → Calculated savings
{{TAX_BENEFIT_RANGE}} → From shortlist calculations
{{REMAINING_LIQUIDITY}} → Assets - Upfront costs
{{ANNUAL_OUTLAY_Y5_10}} → From shortlist

Investor Profile

All fields from profile.json

Location Section

{{LOCATION}} → Location name
{{DEVELOPMENT_NAME}} → From research
{{DEVELOPMENT_TABLE}} → Details from research
{{TRANSPORT_TABLE}} → From research
{{PARKING_DESCRIPTION}} → From research
{{EXCLUSIONS_TABLE}} → Excluded locations with reasons

Units Comparison

{{UNIT_HEADERS}} → Unit IDs
{{GENERAL_COMPARISON_TABLE}} → Full comparison

Financing Section

{{INTEREST_RATE}} → From assumptions
{{MARKET_RATES_TABLE}} → From rate research
{{RATE_DIFFERENCE}} → Calculated
{{RATE_IMPACT_BY_UNIT}} → Savings per unit

Cashflow Section

{{CASHFLOW_BY_UNIT}} → Detailed breakdown per unit

Exit Analysis

{{EXIT_TABLE}} → 10-year projections
{{CASH_POSITION_BY_UNIT}} → Running totals

Stress Tests

{{STRESS_0_APPRECIATION_TABLE}} → 0% scenario
{{STRESS_APPRECIATION_CONCLUSION}} → Analysis
{{STRESS_INTEREST_ANALYSIS}} → Rate hike impact

Decision Framework

{{DECISION_FRAMEWORK_BY_UNIT}} → "Choose X if..." for each
{{PARKING_CONSIDERATION}} → From research

Phase 6: Translation (if requested)

If --lang specified:

Translate the entire filled document to requested language:

• pt → Brazilian Portuguese
• de → German
• es → Spanish

Translation notes:

• Keep technical terms with German originals in parentheses
• Maintain table structure
• Preserve number formatting for target locale
• Keep emoji indicators

Phase 7: Write Report

Generate filename: BRIEFING-[YYYY-MM-DD].md

If file exists, append counter: BRIEFING-[DATE]-2.md

Write to: .finyx/output/BRIEFING-[DATE].md

Phase 8: PDF Generation (if --pdf specified)

If --pdf flag is present:

Step 1: Check for PDF converter

Try converters in order of preference:

# Check for pandoc (best quality)
command -v pandoc >/dev/null 2>&1 && echo "PANDOC"

# Check for mdpdf
command -v mdpdf >/dev/null 2>&1 && echo "MDPDF"

# Check for md-to-pdf via npx
npx --yes md-to-pdf --version >/dev/null 2>&1 && echo "MD_TO_PDF"

Step 2: Convert to PDF

Using pandoc (preferred):

pandoc "[MARKDOWN_FILE]" \
  -o "[PDF_FILE]" \
  --pdf-engine=xelatex \
  -V geometry:margin=2.5cm \
  -V fontsize=11pt \
  -V colorlinks=true \
  -V linkcolor=blue \
  --toc \
  --toc-depth=2

If xelatex not available, try with default engine:

pandoc "[MARKDOWN_FILE]" \
  -o "[PDF_FILE]" \
  -V geometry:margin=2.5cm \
  -V fontsize=11pt

Using md-to-pdf (fallback):

npx --yes md-to-pdf "[MARKDOWN_FILE]"

Using mdpdf (alternative):

mdpdf "[MARKDOWN_FILE]" "[PDF_FILE]"

Step 3: Verify PDF created

[ -f "[PDF_FILE]" ] && echo "PDF created successfully"

PDF Filenames

• Full report: .finyx/output/BRIEFING-[DATE].pdf
• Short report: .finyx/output/SUMMARY-[DATE].pdf

If no converter available

Display:

⚠️ PDF generation requires a converter. Install one of:

Option 1 - Pandoc (recommended):
  brew install pandoc          # macOS
  apt install pandoc           # Ubuntu/Debian

  For best results, also install LaTeX:
  brew install --cask mactex   # macOS
  apt install texlive-xetex    # Ubuntu/Debian

Option 2 - md-to-pdf (Node.js):
  npm install -g md-to-pdf

Option 3 - mdpdf (Node.js):
  npm install -g mdpdf

Markdown report saved: [MARKDOWN_FILE]
Convert manually or install a converter and run again.

Phase 9: Update STATE.md

### Phase: REPORTED
### Last Action: Generated advisor briefing
### Report: .finyx/output/BRIEFING-[DATE].md
### PDF: .finyx/output/BRIEFING-[DATE].pdf (if generated)

Phase 10: Output Summary

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 FINYX ► REPORT GENERATED
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

📝 Markdown: .finyx/output/BRIEFING-[DATE].md
📄 PDF:      .finyx/output/BRIEFING-[DATE].pdf  (if --pdf)
🌐 Language: [LANGUAGE]

Contents:
  ✓ Executive Summary
  ✓ Priority Questions (10)
  ✓ Investor Profile
  ✓ Location Analysis
  ✓ [N] Units Compared
  ✓ Financing Analysis
  ✓ Interest Rate Comparison
  ✓ Cashflow Projections
  ✓ Tax Benefit Breakdown
  ✓ 10-Year Exit Analysis
  ✓ Risk Analysis
  ✓ Stress Tests
  ✓ Decision Framework
  ✓ Advisor Questions

📋 Next Steps:
  1. Review the report
  2. Share with your financial advisor
  3. Schedule consultation to discuss

Append the legal disclaimer from the loaded disclaimer.md reference at the end of all advisory output.

</report_process>

<language_support>

Supported Languages

Translation Guidelines

Keep original German terms:

• AfA (Absetzung für Abnutzung)
• Sonder-AfA
• Nebenkosten (Kaufnebenkosten)
• Spekulationsfrist
• Tilgung
• Kaltmiete

Provide translation in parentheses on first use:

• "Sonder-AfA (depreciação especial)"
• "Nebenkosten (custos de aquisição)"

Number formatting by locale:

• English: €272,403
• Portuguese: €272.403
• German: 272.403 €

</language_support>

WORKFLOW 7: RATES

<rates_objective>

Research current mortgage interest rates in Germany:

1. Search for current market rates
2. Compare with developer-provided rates
3. Calculate potential savings
4. Provide negotiation recommendations

Creates: .finyx/research/market/RATES-[DATE].md

</rates_objective>

<rates_process>

Phase 0: Pre-flight Check

[ -f .finyx/profile.json ] || { echo "ERROR: No financial profile found. Run /finyx:profile first to set up your profile."; exit 1; }

Phase 1: Web Research

Search for current rates:

Queries:

• "Baufinanzierung Zinsen aktuell [current year]"
• "Hypothekenzinsen [current month] [current year]"
• "mortgage rates Germany [current year]"

Target sources:

• Dr. Klein (drklein.de)
• Baufi24 (baufi24.de)
• Interhyp (interhyp.de)
• Finanztip (finanztip.de)

Phase 2: Extract Rate Data

For each fixed period, extract:

Note effective date of data.

Phase 3: Compare with Developer Rate

Load developer rate from analysis:

• Check .finyx/analysis/*/RANKED.md for assumed rate
• Or from profile assumptions

Calculate difference:

Developer rate:    X.XX%
Market top rate:   X.XX%
Difference:        X.XX%

Phase 4: Calculate Savings

For each shortlisted unit, calculate:

Loan amount: €[PRICE]
10-year difference at 0.15% lower rate:

Monthly interest savings: Loan × 0.15% ÷ 12
Annual savings: Monthly × 12
10-year savings: Annual × 10 (simplified)

Phase 5: Rate Forecast

Search for forecasts:

• "Zinsprognose [current year]"
• "mortgage rate forecast Germany"

Extract:

• Expected direction (up/down/stable)
• Expected range
• Key factors (ECB policy, inflation)

Phase 6: Write Research File

Create .finyx/research/market/RATES-[DATE].md:

# Interest Rate Research

**Date:** [DATE]
**Sources:** [LIST]

## Current Market Rates

| Fixed Period | Top Rate | Typical Range | Notes |
|--------------|----------|---------------|-------|
| 5 years | X.XX% | X.XX% - X.XX% | |
| 10 years | X.XX% | X.XX% - X.XX% | Most common |
| 15 years | X.XX% | X.XX% - X.XX% | |
| 20 years | X.XX% | X.XX% - X.XX% | |

**Effective date:** [DATE]

## Comparison with Developer Rate

| Metric | Developer | Market Top | Difference |
|--------|-----------|------------|------------|
| 10-year fixed | X.XX% | X.XX% | X.XX% |

**Assessment:** Developer rate is [ABOVE/AT/BELOW] current market.

## Savings Potential

**If investor achieves market top rate:**

| Unit | Loan | Monthly Savings | 10-Year Savings |
|------|------|-----------------|-----------------|
| [UNIT] | €[LOAN] | €[MONTHLY] | €[TOTAL] |

## Why Investor Should Get Better Rate

1. **High income:** €[INCOME]/year = excellent repayment capacity
2. **Strong assets:** €[ASSETS] liquid = low risk for bank
3. **Stable employment:** [IF KNOWN]
4. **No significant debts:** Good debt-to-income ratio

## Rate Forecast

**[TIMEFRAME] Outlook:**
- Direction: [UP/DOWN/STABLE]
- Expected range: X.XX% - X.XX%
- Key factors: [FACTORS]

**Source:** [SOURCE]

## Recommendation

### Target Rate: X.XX% - X.XX%

### Institutions to Quote

1. **Interhyp** - Broker, compares 500+ banks
2. **Dr. Klein** - Broker
3. **ING-DiBa** - Direct bank, often competitive
4. **Investor's main bank** - May offer loyalty discount

### Negotiation Tips

- Get quotes from 3+ sources before deciding
- Use competing offers as leverage
- Ask about special conditions for high income
- Consider shorter fixed period if rates expected to drop
- Factor in fees when comparing (some brokers charge)

## Sources

[List all sources with URLs and access dates]

Phase 7: Output Summary

━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
 FINYX ► INTEREST RATE RESEARCH
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

📊 Current Market Rates (10-year fixed):
   Top rate:     X.XX%
   Typical:      X.XX% - X.XX%

📈 Developer Rate: X.XX%
   Difference:   X.XX% ABOVE market

💰 Potential Savings:
   [UNIT]: €X,XXX over 10 years

🎯 Target Rate: X.XX% - X.XX%

✅ Research saved: .finyx/research/market/RATES-[DATE].md

📋 Recommendation:
   Quote Interhyp, Dr. Klein, and your bank before accepting
   developer's rate. Your profile should qualify for top rates.

Append the legal disclaimer from the loaded disclaimer.md reference at the end of all advisory output.

</rates_process>

<error_handling>

Common Errors

No profile found:

ERROR: No financial profile found.
Run /finyx:profile first to complete your financial profile.

No location folder:

ERROR: Properties folder 'properties/[location]' not found.
Create it and add price list documents before running analyze.

No shortlists for compare/stress-test/report:

ERROR: No shortlists found.
Run filter [location] first to create shortlists.

No price lists for analyze:

ERROR: No price list files found in properties/[location].
Add Excel (.xlsx, .xls) or PDF price list files before analyzing.

</error_handling>

Workflow Sequence

The recommended sequence is:

1. scout [location] — research viability
2. analyze [location] — extract and calculate
3. filter [location] — apply criteria
4. compare — side-by-side
5. stress-test — risk scenarios
6. report — advisor briefing

Steps 4-6 are optional. You can generate a report after filtering without comparing or stress-testing.

Multiple Locations

• Scout and analyze each location independently
• filter each location
• compare consolidates ALL shortlists from all locations
• report covers all analyzed locations

Agents

This skill uses three specialist agents via the Task tool:

• finyx-location-scout — Web research for scout workflow
• finyx-analyzer-agent — Price list extraction and metric calculation
• finyx-reporter-agent — Report generation and formatting