Has anyone had any dealings with MGM Leasebacks in the Alps. I have looked into them and find them very nice, BUT.
On looking more closely its not an 11 year lease but a 18 year lease and they can give any clue what happens after that time. Has anyone else had this with this company?
And also has anyone tried to seel a leaseback before.
Andy1234517
As I am new to French Leaseback investment, I did a lot of net research to find out more about this type of investment. However, it seems that a lot of people are not happy with the investment they have made, mainly due to problems with the leasing company, or false promises or taxes. I am a bit converned about this and I hope that I am wrong to think so because the investment seems quite interesting and exciting.
I am new to French Leaseback, however I am very interested in investing in a property in France for investment purpose. Can anyone tell me if the French Alps properties offer a sound investment? Also, which are the best French Alps locations - any one who knows the area well who can give me some pointers?
Thanks and look forward to get some feedback.
Paul
New to forum & was reviewing past posts last night and saw various references to GIFI, thought must investigate further. Opened post this morning and my Notaire has sent me a letter in English emphasising how important it is to return 'enclosed fiscal kit' for 'GEFI Company immediately'. It is in French; I have no idea what it is, I assume from reviewing past posts that it is to do with VAT reclaim (which developer. is meant to give to me on receipt of last payment).
I am interested in buying through the leaseback scheme with a view to getting on to the French property ladder then selling up when the lease finishes to buy something where we can spend more time. Is it easy to seell when the lease finishes? Is it better to renew the lease then sell? Also, I can only find new leaseback developments - is there a site where individuals can sell their leasebacks for whatever reason? Thanks
I am an owner of an apartment near the Swiss border. Neither I nor many
other owners with whom I am in contact, have been paid rent for the last
two quarters and some are even owed money from last year, since some
quarterly payments were not paid in full.
Despite an association meeting and delivery of registered letters, the
owner is not paying any rent to those of us who are not French or
resident in France, despite repeated reassurances.
Can anyone advise on the legal route I can take? Any recommended
lawyers?
Thank you,
Have been shown this leaseback property; looks interesting but have no experience with leaseback and am a bit reluctant. Does anyone know of this development (near Avignon) and have any comments? they tell me that people buy these kind of properties without seeing them; surprises me.
thanks for the feedback.
Patrick
I have a leaseback studio in Paris. When I bought it I was assured that I would not have to pay Taxe Professionnelle or indeed any other taxes! In the 2 years of ownership I have paid 1800 euros in Taxe Professionnelle, 500 euros in Taxes Fonciere plus various amounts for VAT and maintenance on the common areas of the building.
Our accountants, the french tax administration and everybody else I have asked say that these taxes must be paid. Has anyone else had a similar experience?
This is the latest reply from the french tax authority:
I did promise you that I would give good feedback about leaseback scheme as well as bad news. So here I am again to tell you that I am receiving a good service from the management company Gestrim Campus who pay the correct amounts for the rents on the due dates.I have had no problems with them at all.
I am still ,however, awaiting news of the TVA refund
anna smith
hiya anyone that reads this
my wife and i are looking to buy a leaseback property for our retirement ( being in our late 30's ) and we were wondering where the most up to date sites are showing developments.
we have seen quite a few we like but they are all sold out!
also as i will be taking out a second mortgage , can i use my house as collateral ?and is it like an english mortgage where you have to supply bank statements , payslips etc?
i'm looking to put down about 30%deposit
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