The apartment was bought unfurnished, and these photos show what it looked like when they visited it with their Flat Hunter property search expert, as furnished by the previous owners.
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After a significant amount of renovation and decoration, arranged through one of Flat Hunter’s preferred partners, this apartment has all the necessary amenities to satisfy even the most demanding of tourists when it is being rented out.
(Click on a photo to enlarge)
This client hadn’t originally intended to rent the apartment out and initially was only buying it for personal use. To make it suitable for renting to tourists, they doubled their budget for renovations from €80,000 to €160,000, and are now able to rent the property for €2,100 to €2550 a week. That works out at about €1,500 in profit for them per week. They should therefore earn back the extra investment for renovation in about 2 years, with an estimated occupancy rate of 50%. So, after those 2 years, the €1,500 of profit is all theirs, which usually amounts to around €40,000 a year. After around 3 or 4 years the occupancy rate should rise to around 80% as clients, or friends of clients, return!
It is perhaps also important to highlight the fact that this client lives in Australia, and with Flat Hunter it was possible to buy the apartment, do all the necessary work, manage and rent out the apartment via “long distance”.
Near Parc Monceau, 8ème arrondissement, Paris.
Monceau (Line 2), Miromesnil (Lines 9 and 13) and St Augustin (Line 9)
125 m²
2
up to 6
2
Between €2100 and €2550 a week
“We first heard about Flat Hunter through an article in the Sydney Morning Herald newspaper about an Australian couple who had used your services to buy several investment flats in Paris. Although we were familiar with Paris having lived there for 4 years, we knew that it would be virtually impossible to find and buy an apartment in Paris during one of our short trips without some serious assistance. Flat Hunter’s service was exactly what we were looking for; taking care of everything from chasing up real estate agents to providing recommendations for a notaire, a French mortgage broker and even a builder whom we used to refurbish the property.
We were assigned our own personal Flat Hunter consultant, Olanda de Rooy, very early on in the process who began corresponding with us by email to find out exactly what type of apartment we were looking for and in which areas and sending through images and details of similar apartments. I arranged a trip lasting 2 weeks, during which Olanda had set up in advance viewings everyday with appropriate apartments which were on the market - also using her relationships with real estate agents to show me properties which had not yet reached the open market.
I am very happy to say that she found us a great apartment on my very last day in Paris, which hadn’t yet come back on to the market after another buyer had been unable to complete. I was able to sign over a power of attorney to Olanda and the notaire, making the whole process run smoothly even though we were based on the other side of the world! On completion, Olanda was able to meet with the previous owners to pick up the keys, transfer the utilities into our names and organise for the builder to go round to give an estimate on the refurbishment. Through them, the buying process couldn’t have run any more smoothly and we really valued the way they oversaw the whole process.
In summary, without the services of Flat Hunter we believe it would have been impossible to find so efficiently and quickly such an apartment in the area of our choice. We would strongly recommend Flat Hunters services to any potential buyer as the easiest way to buy a property in Paris.”
