Looking for a rental investment in the inner suburbs of Paris

Found!

Expatriates a flight away from Paris, Lucy and Matt contacted Gaëlle Loheac, with whom they had already worked, to help them in their search for a rental investment. Based on an excellent remote organization, our real estate hunter quickly found a property that fully met their specifications. They even signed, without seeing it physically, Covid-19 obliges...

What is Lucy and Matt's real estate project?

Living abroad for a few years, Lucy and Matt are a couple who are well established professionally. They decide to make a financial investment — through a rental investment in Paris's inner suburbs... They already partly know the sector because they have lived there for a long time.

Why did they use HOME SELECT apartment hunter?

Being physically not on site, Lucy and Matt naturally turn to the services of an apartment hunter. And if they set their sights on Gaëlle Loheac from the HOME SELECT network, it's because they have already worked together in the past...

Solicited directly by the couple, our real estate hunter draws up with them the objectives of this rental investment. Together, they discuss the expectations of this financial investment in order to test its relevance. In search of tips, the couple has no fixed ideas: they are not constrained by any tax exemption system, such as a Pinel law.

What are the criteria for the research mandate?

In terms of location, Lucy and Matt would like to target Clamart, a city they know well. From the start, Gaëlle suggested that they extend the research to other municipalities in the inner suburbs, which were more financially interesting, while being particularly attractive with the arrival of the future Grand Paris Express.

In terms of the property and taking into account their budget, our apartment hunter directs them to a 2-room apartment around 40 m², to attract young workers and certain companies that house their employees. Indeed, this target is more sedentary, generating less turnover.

With a coherent budget, they expect a well-maintained condominium, not too big or too small, to be able to benefit from reasonable expenses. As it is a rental investment, the couple does not want to consider major condominium work. On the other hand, they are open to work on the apartment itself. Ideally, they would like to have an elevator from the 3rd^th floor. 

How did Gaëlle organize herself with remote customers?

As Lucy and Matt lived several hours by plane from Paris, the couple would come to France only after accepting an offer, in order to confirm their choice through a physical visit.

So, Gaëlle suggested following a specific organization: as soon as a property sheet had potential, she submitted it to them for validation; then, she went on site and did a complete photo and video report, to help them make their decision. Beyond the property itself, our apartment hunter even offered to make sound recordings and to present the common areas, such as the street, in order to allow them to have an opinion, as if they were on site.

How did the search for this rental investment go?

On this basis, Gaëlle set up the HOME SELECT application and contacted her entire network, before going on site, to present Lucy and Matt's case to real estate agents in the sector.

As it was a search for a small apartment with a very competitive price per square meter, a very popular format in Paris, there were few properties available. But Gaëlle was still able to make 2 visits to Clamart that met the couple's specifications:

• Completely to be redone, the first apartment was located in a recent building, with a well-maintained condominium. Even though Lucy and Matt liked it a lot, there were several offers at the price, with no suspensive credit conditions on this property, relegating theirs to the bottom of the pile...
• The second, located near public transport, had been redone and was priced accordingly. But, once there, Gaëlle was able to see that the work had not been done with quality materials. She suggested negotiating it, but the owner was firm. As the profitability on this property would not have been good, Gaëlle advised them to move on.

How did the apartment hunter start the search again?

During a discussion with her clients, Gaëlle mentioned the municipalities of Asnières-sur-Seine and Bois-Colombes, which were apparently more competitive than Clamart. By limiting the search areas to a strict radius, around future Grand Paris Express stations, she convinced the couple to include them in the search.

From then on, she relaunched her procedures and contacted local agencies. One of them calls her back and offers her a property, which could perfectly suit Lucy and Matt...

What is the description of the property found?

In Asnières sur Seine, 5 minutes from the future Bois-Colombes metro station, the property in question is at the heart of a pretty old condominium. Located on a high floor with an elevator, it overlooks a large courtyard, ensuring calm and light. Requiring renovation work, it has a reasonable price per square meter...

How did Lucy and Matt decide?

Given the work to be done, Gaëlle suggests that the couple try a small negotiation that is accepted by the owner.

But as research is located at the heart of the Covid-19 pandemic, the measures of restrictions on movement between countries prevent Lucy and Matt from coming to Paris.

It was only once the sale process was completed that the couple was able to finally discover their apartment. But Gaëlle's extremely comprehensive report, as well as the comments from their family who were able to come and see it, had already greatly reassured them about the quality of their purchase.

How were they organized for the work?

For the work to be done, Lucy and Matt asked for several quotes and finally chose the contact given by Gaëlle to carry them out. The couple was able to take advantage of the presence of their family on site to go and see the progress of the work from time to time.

“The attraction of the real estate hunter for expatriates”

Using a real estate hunter is a real asset for expatriates: by delegating their purchase to competent professionals, they benefit from their advice and their keen eye on the offers on the Parisian market. In addition, Lucy and Matt had already worked with Gaëlle: the relationship of trust was therefore immediate, the icing on the cake!

“Valuable and trustworthy help, even at a distance”

If Lucy and Matt were physically not in Paris, they had family who could help them to carry out this rental investment project. If they chose to contact Gaëlle, it was mainly to benefit from her skills and to obtain valuable advice from her intermediary. In addition, as they already knew her, they had full confidence in her!