I was perusing international real estate (always in search of a bargain) and came across something called "Leaseback programs". It looks like France is the country that seems to offer these deals.
I know when they use the word "Guaranteed investment" that you should normally run, but piqued my interest since you are actually buying a "tangible asset" I think.
From the website:
You get access to the property for 2-4 weeks a year. And after the 5 year period, you own the property. The properties are in lovely places, like the Alps and French Riviera.
Is this some type of timeshare scam? Is it just bad timing due to the Euro? Anyone heard of these beasts?
Here is a link to the site that interested me:
A french real estate website for investment on the French Riviera
Also, on an unrelated note, has anyone heard of a print magazine called "International Living"? I know some of you guys have experimented with expat style Thai-living, so thought you might have read about it from there.
Thanks!
I know when they use the word "Guaranteed investment" that you should normally run, but piqued my interest since you are actually buying a "tangible asset" I think.
From the website:
A lease-back plan is a plan where you buy a property then grant a management company the right to use it for short-term tourist rentals, this usually over a period of 9 years.
You receive in return major tax breaks from the French administration as well as a guaranteed rental income for the duration of the contract.
Anyone can buy a lease-back property -there are no restrictions for non residents.
The buyer pays the asking price for an apartment, in some cases less the VAT; In return for a lease-back contract to a management company the buyer gets a net guaranteed return. These returns are net during the term of the lease,which means net of the running and insurance costs, as well as index-linked. ..
Everything is covered, from management fees to city tax, water and electricity charges, heating and air conditioning , even down to replacing the furniture. In terms of returns, property price rises may seem modest against those occuring on the stock market on the short term, but when financing is used the return potential is much higher. A tourist property will come into its own over a medium to long-term period.
The lease-back programs are located in the best locations in terms of capital-gain potentials and mostly on the French Riviera, Central Paris and ski resorts.
You get access to the property for 2-4 weeks a year. And after the 5 year period, you own the property. The properties are in lovely places, like the Alps and French Riviera.
Is this some type of timeshare scam? Is it just bad timing due to the Euro? Anyone heard of these beasts?
Here is a link to the site that interested me:
A french real estate website for investment on the French Riviera
Also, on an unrelated note, has anyone heard of a print magazine called "International Living"? I know some of you guys have experimented with expat style Thai-living, so thought you might have read about it from there.
Thanks!