Corentin invested in Montpellier from Canada

For his main home, bought before leaving France, Corentin had borrowed over just 15 years; looking back, he would rather have gone for 20 or 25. This time he presented the banks with a thoroughly prepared file and obtained an 18-year loan at 3.05%. The bank smoothed his two loans: repayments stay lower for the first ten years, while he finishes paying off the first loan, then rise. That leaves “quite significant” cash flow early on.

The 70 m² flat has four bedrooms, let as a flatshare. Corentin is aiming for €550 per room including charges, around €2,200 a month, for an 8% yield: the property pays for itself. Frédéric encourages him to aim for September, a good month to let a flatshare, with an almost new home compared with the other listings.

Settled in Montreal with his partner, Corentin first considered buying there. A Canadian tax adviser talked him out of it: if they left Canada, keeping or selling the property would be heavily taxed. The couple chose Montpellier, a city they both know. To move forward from a distance, Corentin relies on the weekly calls with the team and asks his questions as the project goes on.

Electrics, kitchen, bathroom: the flat needs major works, and Corentin dreaded managing them from Canada. He has one advantage: his father, a kitchen designer, helps him design the kitchen, the bathroom and the plans. Frédéric advises him to plan ahead, have someone on site and hold a weekly video call with the tradesman. The works are due to finish at the end of July.