I’m an American millennial entrepreneur who is interested in buying a small rental income property somewhere on the southern coast. I love Nice, but I’d feel most comfortable spending in the $200K range, which pretty much prices me out.
Does anyone rent Airbnbs in Nice/Cannes/french Riviera? I’d love to chat with you about your experience and where you see any good deals!
I’d love to know of any hidden gems areas along the sea that an Airbnb would do well in during the summer months, and that I could potentially rent longer term during the winter months. I know Marseilles, but I’m not crazy about it. I’m looking for something smaller. The water is the real draw for me. If I could afford Villefranche or Eze I would probably buy there.
I’d also love to know if anyone has any research on the property markets along the coast.
I’ve built a model for what I think it would cost to purchase and how income I could make but I’d love if someone could take a look and give me any pointers or share theirs with me.
thanks!
PS I was just in Nice and found an apartment that I really like for €280K but by my calculations I’d still be losing a thousand or more euros per year after short-term rental income. I spoke with a mortgage banker, submitted all of my documentation, and they said they spoke with the bank and that the bank gave them an ok with 30% down.
