Just Two Weeks from Now…Is Fractional Ownership Right for You?
ANNOUNCING A CHANGE IN SCHEDULE!
We had all the best intentions of being ready to present a comprehensive picture of Fractional Ownership that will answer all your questions and to have more information about the four projects we’re currently working on:
* La Lanterne du Marais, Le Marais, Paris
* Les Balcons Saint-Paul, Paris
* Le Palais du Soleil, Carré d’Or, Nice
* La Belle Terrasse, Villefranche-sur-Mer
That’s when we got caught up in the nuts and bolts of the projects and realized we simply weren’t ready to provide enough information about these exciting properties. So, mark your calendars for two weeks from now—June 26th, same time, same place—for the webinar on Zoom.
What do we mean by “nuts and bolts” of the projects? What it takes to develop a property that will be owned by 13 shareholders can be a monumental task…especially in France. It all starts with identifying the perfect property and that’s why we have four going at once—the perfect properties landed in our laps all at the same time and we couldn’t pass them up.
Les Balcons Saint-Paul and La Lanterne du Marais in Paris are both properties we had found for their owners many years ago. They were successful short-term rentals until the city rental regulations relegated them to sitting empty much of the time. The owners decided to sell…sadly. This is where I hopped in to up-cycle both properties to luxurious Fractional Ownership properties that would make many people happy.
Le Palais du Soleil and La Belle Terrasse were much more difficult to find, but they came to our doorstep at about the same time after almost two years of looking for “the perfect property” in these two locations. Le Palais du Soleil is a property I’d take as my own in a heart beat—steps from my own apartment in Nice, a bourgeois style apartment with high ceilings, a sea view and more than twice the size of mine. La Belle Terrasse is the real jewel in the crown as it’s so hard for a property in Villefranche-sur-Mer to satisfy all of our requirements—great view, limited amount of steps, easy access to the train, bus and parking, etc—and it does! So we grabbed it!
But identifying the property is just the first step. Step two in the process is the the organization of the legal documentation, which is complicated as it must satisfy both the French and U.S. requirements. If it’s not perfect, problems can arise either from the governments or the shareholders. Don’t underestimate the importance of this factor. We work with qualified and specialized attorneys and Notaires to keep it all on the absolute straight and narrow.
The property must be acquired, too, of course, so that in itself is monumental. Anyone who has ever purchased a property in France (even with our help) knows what that entails…and the transaction takes months. A purchase of this kind of property is also steeped in the nuances of the legal structures, adding even more entanglement to the mix, so it can take longer than the average purchase.
Add to that, the refurbishment of the property to make it perfect. For a property shared by 13 owners, it must be acceptable to every single owner…so that’s a lot of pressure to get it right. Fortunately, I’ve got the best architects and designers in Paris and on the Côte d’Azur who can turn any property into a jewel. And all four of these will be just that…jewels.
The bottom line is that we’re knee deep in getting all four of the properties ready for occupancy this coming January—no easy task. And that’s why we postponed the Webinar for two weeks. During the Webinar (on June 26th), we’re going to give you an opportunity to learn everything you need to know about owning just a fraction of a property in France…a property you can enjoy several weeks a year, that you can treat like your own home, that can be bequeathed to your heirs or resold at a profit!
During this one-hour Zoom with me, I will present the pros and cons of Fractional Ownership, talk about some of the properties on the market in France and answer as many of your questions as possible. Here are just a few basics:
You can own a fraction of a property and enjoy the benefits of a dream home in France without the hassle of home ownership and at a fraction of the price. Why? Because Fractional Ownership is a hybrid of direct ownership and time-sharing, combining the best elements of both. Ownership brings together a few individuals in a single property with shared usage and shared expenses. Most fractional property opportunities in France are properties that have been purchased, renovated, and decorated by one developer who then sells off the shares to individual buyers…just like us. Most of these offerings are six to thirteen shares to minimize the investment amount while maximizing the size, location, and quality of the property. Ours are all 13 4-week shares.
We will always and only represent well-designed properties that make for a valuable investment and are a pleasure to own and enjoy. A property that is highly desirable, well located, well designed, decorated, and appointed that is unlike any other of its category, this the only kind of property that we’re willing to sponsor. In addition to that, the usage calendar has to be attractive to a wide variety of owners (we think our usage calendar is the smartest!). The legal structure and supporting documents must be 100% correct to avoid any conflicts among owners and the quality management must be in place to keep the property running smoothly and remove any unnecessary obligations by the owners. Plus, it really helps if owners are like-minded…and fortunately, our readers and therefore our owners, are very much of the same ilk.
Now you have another couple weeks to plan for tuning in to our webinar:
Is Fractional Ownership Right for You?
It’s free and informative!
Saturday, June 26, 2021
9 a.m. to 10 a.m. Pacific Time
12 noon to 1 p.m. Eastern Time
6 p.m. to 7 p.m. Paris Time
Learn more about Fractional Ownership! Visit our Fractional Ownership page on our site for some basics, and to tune into our webinar, simply register here. After registering, you will receive a confirmation email containing information about joining the meeting.
A la prochaine…
The Adrian Leeds Group®
P.S. Don’t miss this fun and informative webinar…June 26th at a time that’s convenient for people from the West Coast to Europe! Visit our Events page for all the details TODAY!
P.P.S. If you missed yesterday’s Après-Midi with David Downie, author of Red Riviera and a host of other mysteries and non-fiction, don’t despair. You can tune into the Zoom recording by reading the full report and clicking here.