Clément invested in La Garenne-Colombes from Singapore

Clément chose France for its security and fixed rates, when rates in the United States or Australia are variable. But he knew nothing about it. The programme taught him to work out a yield, approach a bank and build a file, because in his view you often have to do the bankers’ homework for them. He secured an agreement with a six-month partial deferral, which eased the pressure during the works.

People around him, even estate agents, kept telling him he could only let on Airbnb for 120 days a year. On Frédéric’s advice, he called the town hall’s planning department: short-term letting was allowed for three years. His yield went from around 7% on a long-term let to 12 or 13% short-term. The studios were later let to a company that houses its employees there.

All the prospecting was done from Singapore, across time zones, with agents who often refused video viewings. His sister viewed for him, introduced to agents as an investor too, which made them hope for two sales. Enzo, ImmoPourExpat’s local contact in the Paris region, also went on site: in front of a building that looked promising on video, he advised him to steer clear.

Both studios were rated G for energy when bought. Clément first wanted very upmarket flats, then came back to economic reality: overly luxurious works never pay for themselves. He aimed for welcoming, pleasant homes, with around €50,000 of works for the two studios.