I bought my 2nd appartment

[Alex Allemand]

Hello every one, so it has been 3 months now we signed but didn't explain it here.

Me and my girlfriend bought us an other bigger appartment to live in, that means that the first one I bought 4 years ago, did a good rehab and where I was living is now rented at a really good price (740€/month for 30m2/330sqft. Yes I live in France :) ). Really made me realize the power of real estate, and this is one of the reason I now want to purchase a new investment place in 2016!

Really excited about finding my next investment (buy and rent) probably a multifamily little building.

[Alex Allemand]

Originally posted by @Nathan Worden:

Hi Alex! Congratulations on your apartment! Its always a great thing to share your wins here. Its good to celebrate your successes and connect with more people who are doing the same thing.

Aix en Pce is in South France, correct? Out of curiosity, how old are most of the apartments in the area? My general assumption is that everything is very old over there, and it'd be interesting to see how that affects valuations, comps, and people trying to rehab. Are their strict rules to what you can do to historic buildings? Or is everything pretty modern.

Glad you're here! Thanks for sharing your expertise! 

Hi Nathan, yes Aix en Provence is in the South of France. It's difficult to give an age to the building because it really depends on the disctrict. You have an historical center where most of building are 200 years old and more, some districts from the 70s and others from 2000 to now. Concerning mine, it's from 1995. It's an expensive city and appartments are easily rented, even if not rehab (many students here), so many of historical center appartments are old and small but still rented to students at high prices. On the sale market, it's different, appartments are in good conditions with nice kitchen, bathrooms etc... The appartment we just bought only needed some wall painting.

Concerning the rules, as soon as you rehab the Inside there is no problem, I guess the outside is different because there are many historical buildings... Didn't experience that yet :)