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 Post subject: Property 365 French Leaseback & German Investment Property
PostPosted: Sat Mar 27, 2010 11:46 am 
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Has anyone had any experiences with a company called Property 365 or SRL Property 365.

They claim to sell and manage property in Germany,France and other countries with 100% finance.


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 Post subject: Re: PROPERTY 365 FRENCH LEASEBACK & GERMAN INVESTMENT PROPER
PostPosted: Sat Mar 27, 2010 11:50 am 
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Too Big to Fail
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http://www.property365.ie/

These guys?

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“And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom.” Anais Nin


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 Post subject: Re: Property 365 French Leaseback & German Investment Proper
PostPosted: Sat Mar 27, 2010 3:05 pm 
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Yes Kate P

Those guys


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 Post subject: Re: Property 365 French Leaseback & German Investment Proper
PostPosted: Sun Mar 28, 2010 12:53 am 
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Real Estate Developer

Joined: Nov 8, 2006
Posts: 999
Location: Up west
How is French leaseback doing these days? I recall a punter telling me in 2002 that old chestnut that if you didn't get into property right now, Ireland would become like the continent, every one renting, never owning. Roll forward 5 years and it was French leaseback everywhere. The TGV is coming to such and such a place.

Their holding their own over in La Belle France, but there have to be many leaseback horror stories for canny mcsavvy since.


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 Post subject: Re: Property 365 French Leaseback & German Investment Proper
PostPosted: Sun Mar 28, 2010 3:04 pm 
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Never heard of them CON CERNED.

But watch out.

100% finance sounds a bit to good to be true. :evil:

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 Post subject: Re: Property 365 French Leaseback & German Investment Proper
PostPosted: Sat Apr 03, 2010 12:57 pm 
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Back Home with Mammy

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Posts: 60
CON CERNED wrote:
Has anyone had any experiences with a company called Property 365 or SRL Property 365.

They claim to sell and manage property in Germany,France and other countries with 100% finance.

If these were great investments with 100% finance available why dont the developers /marketers buy them all themselves ??????
Be careful with French leasebacks. Three years ago a client showed me a glossy brochure for a French townhouse leasebach development. I saw the overall size was 44M2 and asked him did he realise that the 2 bed townhouse was tiny at around 450 sq ft and that there was no room in the bedrooms for anything other than a double bed in one and a single in the other. He still went ahead and purchased !!!


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 Post subject: Re: Property 365 French Leaseback & German Investment Proper
PostPosted: Sat Apr 03, 2010 1:27 pm 
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Single Home Owner
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Arthur Daley wrote:
I recall a punter telling me in 2002 that old chestnut that if you didn't get into property right now, Ireland would become like the continent, every one renting, never owning.

In my experience, price is not the reason most people don't buy on the continent but rather rents are (were anyway) extremely reasonable and tenants have very strong rights - that removes the "future security" bottom line most be make here for *needing* to buy.


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 Post subject: Re: Property 365 French Leaseback & German Investment Proper
PostPosted: Sat Apr 10, 2010 6:31 pm 
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Migrant

Joined: Apr 9, 2010
Posts: 1
Stay away! Stay away! Not only is a 100% mortgage a bad idea but these properties don't even cover the mortgage repayments. You end up topping up the rent to cover the mortgage- for years on end.The direcctors are have little experience of selling property in Ireland let alone abroad and so you are on your own as regards your legal and revenue obligations.All the information you get is in the language of the country you are buying in, so unless you are fluent in French or German it will cost you thousands to have these documents translated(they will tell you don't need to).The properties on offer are all well off the beaten track and in places you never heard of before-this explains why they are so cheap and nobody else wants to sell them.So unless you want to buy a property without full information and then spend the first ten years of ownership subsidising it until the rent covers the morgtgage go ahead :)


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 Post subject: Re: Property 365 French Leaseback & German Investment Proper
PostPosted: Mon Jan 30, 2017 3:00 pm 
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Joined: Jul 26, 2009
Posts: 14806
Online petition launched by aggrieved Irish buyers of French leaseback properties - -> http://www.irishtimes.com/life-and-styl ... -1.2940271

Quote:
Many investors have lost up to 70 per cent of their capital from time of purchase

A group of Irish buyers of French leaseback properties has launched an online petition to raise awareness of a series of problems they have encountered since taking on such properties. The aim is to highlight awareness of their plight, while lobbying for regulation and accountability at Government and EU level.

For over a decade French leaseback properties have been marketed as such reliable investments that they could substitute for a pension. Buyers are encouraged to buy a property with a “guaranteed, hands-off” rental stream for nine to 11 years. The French government agrees to waive the VAT. However the reality has been that management companies at a number of schemes fail to pay the rent and quickly become insolvent. A new operator takes over, offering a lower return. High and indiscriminate management charges are introduced and previously unmentioned taxes take any remaining income. A large number of Irish owners have been left bereft and in debt, with many simply walking away from their French mortgage.


there is more


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