On Call with Steve Navaro: The Fractional Ownership Solution
The two new buzz words in French real estate are “Fractional Ownership.”
Fractional Ownership simply means the division of the property’s title or deed into legally divided portions or shares. This is done by creating a company which owns the property then allowing multiple owners or investors to own shares in the company. Those shares can then be purchased and owned by more than one individual. Shared ownership of the property also entitles shareholders to certain usage rights, and when the property appreciates in value, then so do the shares.
Here in Paris, and in other parts of France, Fractional Ownership is catching on like wild fire, rightfully so. As property prices have increased, investors who want only a few weeks a year to enjoy their Paris “pied-à-terre” are finding they can afford a much nicer, larger and more luxurious property for a lot less expense and effort than owning it on their own.
Steve Navaro, a real estate attorney from Denver, Colorado, who with his wife, Suzanne, were so discouraged by the price of property in Paris, that in 2002, they developed a Fractional Ownership plan under the name of “Paris Home Shares” that would satisfy his desire to have his own pied-à-terre in Paris he could share with 11 other friends, relatives or perfect strangers.
Their first project, the “Villa Monceau,” a one bedroom apartment in the chic 17th district of Paris, sold out very quickly, so before long, they were looking to create another one.
The second property, “Jardin Saint-Paul,” a two bedroom apartment in the heart of Le Marais, was the first our own property consultation team found for them. It’s a gorgeous 17th-century building with exposed original stonework and wood beams, high ceilings and fireplace…all surrounding a tranquil garden just steps from the popular rue des Rosiers.
Most of the shares are sold and the renovation of the property is well underway. In fact, the heaviest of the construction work was expected to be completed by this weekend.
If you viewed the photos of this apartment prior to any work done on it, you may recall the arch leading from the living room to the bedrooms, stuccoed over and painted a bright mustard yellow. Ugh!
Well, the construction crew recreated a 17th-century classic keystone arch of beautiful stone using a “trompe l’oeil” technique! Be sure to see the video of and by Liam Gallegos in his excitement over the newly created arch! Just click here.
Just this past October 21st, an owners meeting was held at Steve and Suzanne’s home outside of Denver. The weather was spectacular with blue skies with bright sunshine all afternoon. The owners came from both coasts of the U.S. to attend, to meet each other, and to enjoy some fine food and wine together. The first part of the agenda was to draw for the months of use and then they ratified the budget for the coming year, talking about the neighborhood in which the apartment was located, and shared their common experiences about Paris. The climax came when keys to the apartment were handed over to each of the owners. Check out these smiling faces!
For those of you interested, there are still a few shares remaining, but prices go up to 92,000€ on December 1st after the apartment is complete and ready to use.
A third property is in the offering now…their our most elegant apartment, yet! Located in the heart of the chic 7th arrondissement, one from the Esplanade des Invalides and a few minutes by foot from the famous rue Cler and the Eiffel Tower, this spacious two bedroom apartment will redefine the word ‘luxurious’ in Paris.
Steve and Suzanne are redesigning the layout to better utilize the space, which will result in larger bedrooms, each with their own bathroom. This classic French apartment occupies the entire 1st floor above street level in a “petit” Haussmann-style “pierre-de-taille” building, just 100 meters from the Métro station La Tour Maubourg, and just around the corner from the fashionable rue St. Dominique with its many shops, cafés, and famous restaurants. The Seine is two minutes away by foot.
Appropriately titled “Chez La Tour,” with the Eiffel Tower looming just overhead, it’s the largest and most luxurious of the Paris Home Shares family. Most of the shares are currently available at 99,500€ per one-twelfth share.
Before you click to the Web site to learn more about these two Fractional Ownership luxury apartments in Paris, let me tell you that you have an amazing opportunity to speak directly with Steve Navaro and ask all the questions you might have about Fractional Ownership and these properties in particular.
Steve and Suzanne will be in Paris overseeing the work on both apartments and have agreed to participate in a one-hour Conference Call FREE to French Property Insider Subscribers on Sunday, November 11th. If you are already a subscriber, then ALL YOU NEED TO DO IS DROP US AN EMAIL TO RESERVE YOUR SPACE!
If you are not already a subscriber, then NOW’S YOUR OPPORTUNITY TO JOIN THE MEMBERSHIP BEFORE THE SUBSCRIPTION RATES INCREASE ON DECEMBER 1ST!
When you subscribe to French Property Insider, a weekly electronic magazine (e-zine) devoted to educating you on how to effectively, efficiently and profitably purchase property in France, you will also be getting insider information at a big bargain.
Every issue (50 per year) is packed with valuable information…
* How to find great properties in Paris and France…
* How to structure the ownership of your real estate purchase…
* What pitfalls to look out for and how to avoid them…
* How to choose a “Notaire” (property attorney) and what you can expect from them…
* How to minimize or eliminate your capital gains and property tax obligations…
* How to earn appreciation and create a profit from renting your French properties…
* How to get a French mortgage…
* How to reduce your currency exchange risk…
* How to renovate and renovate your new French home or rental apartment…
* Plus, how to build a rich and fulfilling life in France.
French Property Insider also contains listings of apartments and homes for sale as of each writing — that provide a sampling of what’s on the market at the time. Property prices are reported regularly — as often as the Chambre de Notaires updates them (quarterly). New laws and changes to existing laws are brought to light. The ins and outs of purchasing specialty properties, such as the “viager” or “1948 rent controlled” apartments is often on the roster.
You’ll also find articles on culture and lifestyle to help you learn those important things necessary to “fitting in,” wherever you choose to rent or buy.
It’s all at your fingertips…every single week! And today we have this special offering to learn more about Fractional Ownership and take advantage of a price savings by not waiting a single moment longer.
Let me assure you that with your subscription, you will receive FREE reports to help you make your dreams of living or retiring in France a reality…
“The Paris Property Report“: Designed to answer all your questions about buying in Paris…
And…“The French Leaseback Program: Are Leasebacks for You?” This report gives you the background and history of the program, the ins and outs, ups and downs, pros and cons — the truth about the French Leaseback “scheme.”
Plus…as an FPI subscriber, you’re entitled to a special discount price on our highly informative electronic Insider Paris Guides!…the “Insider Paris Guide to Good Value Restaurants,” online since 1996!; the “Insider Paris Guide Living in France” by Jean Taquet with more than 200 questions from real people and all the practical answers for Living in France; the “Insider Paris Guide for Expat Writers” by Elizabeth Reichert, for novelists, journalists, poets, dreamers, and doers alike! And the “Insider Paris Guide to Black Culture” by Melinda Herron — the first guide of its kind, totally devoted to Black Paris and the newest guide, “Insider Paris Guide for Practical Paris” written and regularly updated by Karen Henrich.
So, get the inside scoop on what’s hot and what’s not in Paris…You can spend days and weeks searching for your dream property and still come up empty handed. But French Property Insider can make this difficult job much simpler.
For the lover of France…the would-be French property owner… the dreamer of a new life in this glorious country…it doesn’t get much better than this.
Now and only
until December 1st, for $49.50 a year, you’ll get all the services and benefits I’ve described, including 50 opportunity-packed and informative issues of French Property Insider, plus you’re saving $29.50 off the regular subscription price of $79.
If you subscribe now for two full years, we’re going to save you 20% and you’ll pay only $79.50 for 100 issues non-stop — that’s less than 80 cents each!
Don’t forget, when you subscribe to French Property Insider you’ll also get the FFREE Conference Call with Steve Navaro when you can ask all your questions about the “Fractional Ownership Solution.”
Ridiculous, isn’t it? But, best of all, you will have all that great insider information from your weekly French Property Insider newsletters for a real bargain.
Right now, and only November 11th the opportunity is yours. Don’t delay.
It’s that easy — and you’ll be on your way to making your dream come true! Become a subscriber today.
A la prochaine…
Editor, Parler Paris
P.S. Become a subscriber today and take advantage of the Free Special Offer:
PARTICIPATE IN THE CONFERENCE CALL FREE
November 11, 2007
8 p.m. Paris Time, 2 p.m. Eastern Standard Time
Please RSVP to this special event and we will send you the call details. Sign up now by emailing: [email protected]
P.P.S. If you wish to participate in the Conference Call, but do not wish to subscribe to French Property Insider, the participation fee is 50€ payable by credit card. Reserve your place now!: [email protected]