Steve invested in Perpignan from Spain
Can you launch a flatshare in France when you live in Spain? Steve bought an 85 m² four-room flat in Perpignan, 3 minutes from the university, for €79,000, i.e. €900 per m². With €55,000 to €63,000 of works, he is turning it into a four-bedroom flatshare, targeting €500 to €600 of cash flow a month.
SpainHouse share
Steve’s flatshare in Perpignan
BeforeAfter
BeforeAfter
BeforeAfter
BeforeAfter
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BeforeAfterWhat Steve had to overcome from Spain
FinancingA loan at 3.47% and a 24-month deferral
Steve lives in Spain. He financed his project with a loan of €140,000 to €142,000 at 3.47%, with a 24-month deferral. The monthly repayment is €753.72.
LettingA flatshare 3 minutes from the university
The flat is 3 minutes from the university in Perpignan. Steve is turning it into a four-bedroom flatshare, with €1,600 to €1,800 of estimated rent a month and a target of €500 to €600 of monthly cash flow.
Renovation works€55,000 to €63,000 of works
The works budget is estimated at €55,000 to €63,000 to turn the four-room flat into a four-bedroom flatshare. The works are under way.
How Steve invested in Perpignan from Spain
Perpignan, near the university
A four-room flat at €900 per m²
Steve found an 85 m² four-room flat in Perpignan, 3 minutes from the university. He bought it for €79,000, i.e. €900 per m².
The loan
A loan at 3.47% and a 24-month deferral
He borrowed €140,000 to €142,000 at 3.47%, with a 24-month deferral, for a monthly repayment of €753.72.
The works
A four-bedroom flatshare
The works, estimated at €55,000 to €63,000, turn the four-room flat into a four-bedroom flatshare.
Today
Works under way
The works are under way. Steve is targeting €1,600 to €1,800 of rent a month and €500 to €600 of monthly cash flow. The unrealised capital gain is estimated at €20,000 to €25,000.
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Steve, Trustpilot review
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