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StefanoUP

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Dear @MJ DeMarco , dear Fastliners and dear Unscripted,

My name is Stefano, and yes as it sounds I am Italian...
Well actually only half Italian :smile2: and half French, living in France at the moment.

Ages ago, I was a good student.
I Graduated, then got a good job and so... started my professional (and personal) life in the slowlane!
Then I worked for companies like Texas Instruments, Motorola, Microsoft... seems impressive (or not ? :playful:)

But I always knew there was something more and that living from paycheck to paycheck was not what I should do all of my life.

So I started investing in the real-estate business in Uganda, then in Italy, then in Romania.

Unfortunately none of those businesses is enough for UNSCRIPTION so I am also pursuing another path, the path of the ENTREPRENEUR.
I have had several ideas in the past and started some businesses going from drop-shipping (I know it's not a business but back then I thought it was a good idea) to e-book publishing and other businesses I even forgot about.
Those businesses did not work as expected but I have more ideas in mind and I know one of those will thrive so I will continue (applying the monogamy principle of course;)) working on my next business:thumbsup:

In the last 5 years I have also started to invest in real-properties in France.

Now I want to make a difference and add value to the marketplace by providing awsome services and products which I will discuss later on the specific sections of the FLF.

So that's it for now, see you folks!

Stefano.

PS : BTW I still also have a 9-to-5 job :hilarious:
 

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RazorCut

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Welcome Stefano. Sounds like you have led an interesting life. How did you end up doing real-estate business in Uganda of all places? Sounds like a story.

Look forward to hearing more.
 
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StefanoUP

StefanoUP

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Welcome Stefano. Sounds like you have led an interesting life. How did you end up doing real-estate business in Uganda of all places? Sounds like a story.

Look forward to hearing more.
Thank you RazorCut,

I invested in Uganda because a former girlfriend of mine was half Ugandan and half Italian so I had an opportunity the second time I traveled in Jinja and I decided to invest as I really like the wildlife in eastern Africa :smile2:

As for my Italian house it's thanks to my roots that I decided to buy there, I really love Italy, especially during the summer ;)

The house in Romania ? A friend of mine wanted to invest in an Organic producing farm and so I associated with him as he was searching for a partner in this business.

Looking forward to more interactions with the FE folks here :thumbsup:

A presto !
 

Mattie

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Welcome to forum.
 

Aix-Geneve

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Sounds interesting. I'm in France - currently in western part, but hopefully moving back closer to swiss border. Tell me about your french RE ideas. I have some ideas too.
 
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StefanoUP

StefanoUP

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Sounds interesting. I'm in France - currently in western part, but hopefully moving back closer to swiss border. Tell me about your french RE ideas. I have some ideas too.
I have bought a couple of buildings with my brother and we aim at a 10% return on our investments :)
So we actually have 4 appartments each and we get some good cash-flow after mortgage deduction.
We are looking for a 1 million € building at the moment but haven't found something really interresting as the ROI on the ones we have seen is far from the 10% we aim for.
So still watching when new opportunities arise..
 

Aix-Geneve

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I have bought a couple of buildings with my brother and we aim at a 10% return on our investments :)
So we actually have 4 appartments each and we get some good cash-flow after mortgage deduction.
We are looking for a 1 million € building at the moment but haven't found something really interresting as the ROI on the ones we have seen is far from the 10% we aim for.
So still watching when new opportunities arise..
Ok, I understand. How old are these buildings? I am guessing these may be older buildings, each containing a few apartments? Probably extensive renovation required? And no body corp fees etc. Just guessing, because I know a bit about the market in France.
 
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StefanoUP

StefanoUP

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Ok, I understand. How old are these buildings? I am guessing these may be older buildings, each containing a few apartments? Probably extensive renovation required? And no body corp fees etc. Just guessing, because I know a bit about the market in France.
Yes they are not new, they were both built in the 1960s
One has 5 appartments and the other 4 and as you guessed we are renovating all of them one after the other.
At this stage only 2 still need to be renovated but we have to wait for the tenants to leave them before we do.
 

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Aix-Geneve

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Yes they are not new, they were both built in the 1960s
One has 5 appartments and the other 4 and as you guessed we are renovating all of them one after the other.
At this stage only 2 still need to be renovated but we have to wait for the tenants to leave them before we do.
Yes, I did some mental arithmetic in my head re these types of buildings, also because they have a few "Rich Dad Poor dad type' RE entrepreneurs in France. In the end I didn't like any of them, because no one would come down on price and the french have this thing for renovation. I do not. I am currently living in a building circa 2000. Though its now, I detest the cold, kind of 'radiating' from the ground. I cannot feel it, but I know in winter my legs hurt. That's put me off this whole genre.

I am more interested in building new to rent out, say buy land and build 2x50m2 appts. I like the idea of having a small apartment (without the body corp fees) because little new apartments, IMO, are what the french like.
 

Aix-Geneve

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When I last looked into this stuff, the yield on this type of thing was 6-8%. I learnt somewhat quickly, that the french will not drop the price and if they do, it's for a reason. Look carefully.

So I changed tactics. I started talking to locals. The other month I took a room on booking.com. I met the owner. This guy has 4 properties (minimum) they are

1. 3bed inner city, cost to buy unrenovated (estimate 200 000 euros), + extensive renovation (100 000 euro), which he rents up to 3 indiv bedrooms on booking.com. Not bad yield. Better. But old building and I don't like neighbourhood. Neighbourhood feel can change somewhat quickly.

2. Two 'aspirational' new homes built in wherever the locals want to build new house&land packages. Talk to the builder to find the suburb. This is where the true gold is, IMO. The builders will tell you the suitable size to build, finish level etc. But then you have to find a reasonable builder (this is the hardest part but my research indicates: select a national chain). Usually these will be 10-15m communting distance by car to city centre

3.He also has a 'gite' in the country not too far away. Rented for holidays.
 

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