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Updated about 2 years ago on . Most recent reply

User Stats

6
Posts
4
Votes
Niya C Sisk
  • Tucson, AZ
4
Votes |
6
Posts

Trying to figure out my best approach...

Niya C Sisk
  • Tucson, AZ
Posted

Hello,

So... I have been a busy squirrel saving this past year and my lease is up where I live. I'm not interested in renting anymore. It's so high for mostly low value and no equity. I'm a hard worker and a certified home designer. My goal is to get into the 'add value' space and purchase 1-2 homes per year for the next 5 years. An amazing opportunity has just come up through a connection in the South of France. A 2-building, 2-kitchen home featured in magazines that has been renovated by a successful artist exhibiting in Europe in NYC. I am first on her list now and we are talking tomorrow. She needs 100k up front and the final payment in Aug. I wasn't expecting my first property to be in Europe but the short-term rental value is high. The problem is she is moving fast and there is a waitlist. I would like to structure a deal to a potential investor but I'm so new to this arena. This is my first home. Feeling a bit insecure about what I should be thinking about beyond the obvious (buying in another country, Notaire (FR) fees, inspector and seeing the home in person, comping the value of the property and rental value, repair estimates, etc.). Should I hire a consultant to talk this through? Who? Where?

Any ideas are welcome. Thank you in advance. 

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