Design Your Own Fractional Ownership Property



Design Your Own
Fractional Ownership Property

Parler Paris…
Your taste of life in Paris and France
/parlerparis/
Paris, France
Special Edition
Friday, May 1, 2008


Dear Parler Paris Reader,

The words “Fractional Ownership” are on everyone’s lips these days. Now that Paris property prices have continued to escalate while the U.S. dollar and British Sterling have weakened against the euro, making it ever-increasingly difficult to get a property ‘foot in the door.’

“A hybrid of direct ownership and time sharing, Fractional Ownership combines the best elements of both. The primary differences are that while timeshares involve many shares in a large complex with ‘resort’ amenities and costs built specifically for that purpose, fractional ownership is joint ownership by only a few individuals in a single property whose value can easily be determined on the open market.”

Most Paris fractional property opportunities are properties that have been purchased, renovated and decorated by one developer who then sells off the shares. Most of these offerings sell six to twelve shares to minimize the investment amount while maximizing the size, location and quality of the apartment.

To find opportunities of this kind, we recommend two Fractional Ownership Developers with whom we work closely and trust: Paris Home Shares by Steven Navaro and French Property Shares by Ginny Blackwell.

So, Fractional ownership is a hot concept!…
but we’re making it even hotter!

A new division of the Adrian Leeds Group, LLC, “French Property Fractional” is the newest and hottest way to own your piece of Paris simply, easily and inexpensively without the hassles of purchasing it on your own, but with all the benefits of doing it yourself.

Design Your Own Fractional Ownership Property
with “French Property Fractional.”

A new division of the Adrian Leeds Group, LLC, “French Property Fractional” is the newest and hottest way to own your piece of Paris simply, easily and inexpensively without the hassles of purchasing it on your own, but with all the benefits of doing it yourself.

What’s new about “designing your own” property?

While this system works well for many investors, we found that there are large numbers of individuals who would like to combine the benefits of traditional fractional ownership with single-party ownership, enjoying more time to personally use the property, having more decision-making power about the property, more input and more control. We believe that you want to feel like the property is really yours — and it is!! So, why not have a more personal relationship with the property.

Here’s how French Property Fractional works:

FIRST, WE OFFER A “CONCEPT”

Our team is offering a property CONCEPT…to search and find the a Paris property to be shared between only a very small group of owners — four to six:

“MY PIED-A-TERRE IN LE MARAIS”

SIZE: 35 to 45 square meters (377 to 485 square feet)

ROOMS: two rooms — one bedroom apartment, with bedroom on a courtyard for quiet, full bath (perhaps bath + separate toilet) and open American-style kitchen

LOCATION: Le Marais, districts 3 or 4

LEVEL: No higher than 3rd floor (European) without an elevator

BUILDING TYPE: 17th, 18th or 19th-century (no newer buildings!)

AMENITIES: lots of light, nice views, fireplace or balcony or patio, secured storage for personal belongings, all new kitchen and bath fixtures, all the luxurious comforts

COST: 4 shares, 135,000€ each, 3 months of usage per year
5 shares, 108,000€ each, 10 weeks + 2 days of usage per year
6 shares, 90,000€ each, 2 months of usage per year

Total 540,000€

USAGE: Owners determine their own usage calendar and have complete flexibility to arrange their calendar among themselves

FEES INCLUDE:

* Full price of the property including agency fees.
* All notarial and legal fees.
* Property search
and consultation fees.
* Complete renovation and furnishing of property to luxury standards by professional interior architect and contractor within certain budgetary constraints.

EVERYONE MUST AGREE:

Members of the purchase pool must be willing to invest the full amount of at least one of six, one of five or one of four shares to be held in an escrow account to fund the property search, purchase and renovation.

The search will commence upon commitment in writing and receipt of funds from all members of the purchase pool with an agreed upon allowance for a minimum of 90 days to locate the property.

Upon location of a property that fits the above parameters, a memo with photos and description of the property will be sent to all members who may decide at that time to approve or decline the property in a timely manner — within 48 hours of receipt of the memo. Any group which is able to approve the found property with a combined total of 540,000€ will enable the purchase process to proceed.

Members of the purchase pool will provide proxy to the Adrian Leeds Group, LLC to sign notarial documents on their behalf: the Promesse de Vente and Acte de Vente — allow 3 to 4 months to completion.

Three decor concepts that fit within the renovation budget will be presented to the purchase pool for voting and will be executed by the interior architect and construction team. Any choices made by the purchase pool outside the framework of the budget will be charged over and above the initial fees. Allow 2 to 3 months to completion.

Members of the purchase pool will appoint one spokesperson for the purchase pool to make day-to-day decisions and act as a “liaison” between all members of the purchase pool.

NOTE: The Adrian Leeds Group, LLC will offer optional property management services upon completion of the sale and renovation at an additional expense to oversee the maintenance of the property, provide housekeeping between owners’ visits, manage the calendar of owner visits, pay all annual taxes, utility bills, etc. OR the group may operate fully on its own upon completion of the process.

If you are interested in participating in a purchase pool for “MY PIED-A-TERRE IN LE MARAIS,” email Adrian Leeds at adrian@adrianleeds.com

A la prochaine…

Adrian Leeds
Editor, Parler Paris

P.S. The Adrian Leeds Group, LLC is a full service French property consultation company which provides comprehensive property search, purchase and sales assistance, mortgage, renovation and rental services, plus real estate conferences and property publications for Anglophones and non-residents who desire to live or invest in France. If you have even a small interest in purchasing a euro value asset in France that will bring you both financial success and plenty of enjoyment, whether it be individual or fractional ownership, visit /frenchproperty/consultation or email adrian@adrianleeds.com for more information.


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