Property 365 French Leaseback & German Investment Property

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.

property365.ie/

These guys?

Yes Kate P

Those guys

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.

Never heard of them CON CERNED.

But watch out.

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

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 !!!

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.

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 :slight_smile:

Online petition launched by aggrieved Irish buyers of French leaseback properties - → irishtimes.com/life-and-styl … -1.2940271