How To Buy 5 Apartments With 5 Euros?

Real estate is a subject that has always fascinated all generations. Investing in “stone” is it seems a safe bet for some, impossible to achieve for others, or even “a scam” and “a tax pit” for the most pessimistic.

Either way, the favourite subject of Sunday brunch stirs up fantasy, lust and the wildest rumours. But what is it really? Is it really possible to invest in real estate in France and become an annuitant?

Not only is it possible, but on top of that, you don’t have to be a rich heir to get started; today you can buy 5 apartments for 5 euros! We are living in the best of times in terms of investments (yes, even with the Covid!), We still have to know how to go about it.

You do not believe me? I explain all this in 5 steps, follow the guide.

1. The art of preparation

2. The art of action

3. The art of negotiation

4. The art of financing

5. The art of finalization

1. The art of preparation

I prefer to put my cards on the table and bring you back to reality at the risk of shooting me in the foot from the start: you will not become pensioner overnight, it will take time and work. Now that you know what to expect, let’s move on.

We don’t invest in real estate like in a Euromillion grid. You are going to have to prepare yourself mentally and financially. First of all, you will have to invest in yourself and define your goals. Your training is essential to understand what you are doing and to know the tips of a real estate investor. Start by breaking the lock of your prejudices and your prejudices.

If you think that you don’t have the capacity to become an annuitant, you should definitely erase that thought from your mind. It doesn’t matter what your origin, your gender, your religion or your education. Anyone, absolutely anyone, can achieve their goal, as long as you empower yourself to be successful.

Glory to the Internet! Knowledge today is free (or almost), so ignore your distractions and start learning more about it, this is step 1. YouTube is full of channels offering quality content ( GoodLife tv for example), Amazon offers a plethora of books to consult and even Snapchat or Instagram have quality content. You know the tools; you just have to change the content (goodbye cute cat videos!).

At the same time, you will have to work financially. By that, I mean transforming your average consumer bank account into a good father’s account. Start by saving regularly on an A booklet or an LDD. What matters is not the amount, but the regularity? Give up everything that may be frowned upon by the bank: withdrawal at the local casino, deposits on sports betting sites, consumer credit to buy a flat-screen. It’s not about restricting yourself but showing your paws Blanche to your future partner: the bank.

2. The art of action

Learning and saving are good; acting and investing is better. All in good time, you have to learn to walk before you run. Your preparation has made you a new man, a richer mind and a bigger bank account, and as the saying goes: cash is king!

Now it’s time to take action and find the assets that will maximize your profitability and fill your wallet at the same time. By using the right websites and with the right alerts, you will quickly find properties that will grab your attention.

There are more goods for sale than buyers, but not all are created equal. Analyze each ad according to the criteria you have set for yourself: with or without work? Type of surfaces? Regions, departments and cities? Type of rental to operate? etc. Then, once a property matches your criteria, pick up your phone and ask for more details: the different charges, tenant profile, type of heating, reason for the sale, etc. If the property is still fine with you, make an appointment to visit it. During the visit, analyze the building and confirm what you had already seen on the ad and what the seller told you over the phone.

If the property requires work, find the right company and quote the right amount based on your goals. Calculate the profitability of the property and the cash flow it will bring you. Now is the time to negotiate.

3. The art of negotiation

Real estate is like the souk in Marrakech, everything is negotiated… but not in the same way! To buy 5 apartments for 5 euros, you will have to become the conductor and play the perfect symphony of “seller – a banker – notary”. It is only by playing these 3 “notes” harmoniously that you will be able to perfectly negotiate the good you desire.

When it comes to negotiation, people often think of the purchase price. However, there is sometimes more interesting to negotiate such as the payment of notary fees by the seller, for example. Negotiation is an art and in real estate, what is said is quickly forgotten.

Write all the ins and outs of your future acquisitions in such a way as to protect yourself officially, to avoid unpleasant surprises and not to let your future “retirement plan” slip away with another. Surround yourself with an (excellent) notary and go ahead Guingamp!

4. The art of financing

Do you remember “cash is king” (money is king for Anglophobes)? Now is the time to make your banker’s eyes shine, because who could deny a “good father” anything?

Just like with the seller, you will have to negotiate your financing with the bank. Here again, we forget the Sunday brunch discussion on the famous interest rate. You are a pro and therefore you negotiate what really matters to a real estate investor: loan insurance, IRA (prepayment indemnities), partial or total deductible, duration, type of loan, 100% or 110% financing, etc. In short, you guessed it, you will have to know and master the banking language and its inner workings.

I assure you that your banker will no longer look at you, in the same way, thanks to your knowledge, the way of presenting your project, your negotiating skills, the good management of your accounts, the good words used. And if not, your coffee, Mr Durand? With one or two sugars? Hmm… no more champagne!

5. The art of finalization

Negotiate with the seller: it’s done. Get Champions League funding: it’s done. All you have to do is sign and become the owner! Yes, but not too fast. A lot of people are breaking their teeth right before the finish line. But not you!

Because you read “How to buy 5 apartments with 5 €?” And you know there are still some pitfalls to avoid before lifting the glass (of champagne). Did you visit the property again and make the final checks before signing definitively? Have you read and understood the final bill of sale? Does it comply with the sales agreement? Have you taken out PNO insurance?

Don’t miss the last step that will lift you to the top of your goals. Savour your victory, you deserve it and don’t forget to level up every moment. Good investments!