Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets..................
Personally, I can connect to that. When I began working with Jenny Pamogas Canaya a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market...................
How can I reach out to this coach? because I'm seeking for a more effective investment approach How good is this person at portfolio diversification, particularly with regard to digital assets?..........
Jenny Pamogas Canaya. is my adviser and she is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.................
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé............
Hello Alex, thanks for the video. I live in pairs, I am a real estate agent who finds a property with a lot of renovation projects and gets the renovation done for my client. I usually send them videos about how they can take the loan. it's beneficial. good work.
Hi Alexander, I have enjoyed watching and learning from all your videos. I had initially looked to purchase an apartment in Paris but my love for the Mediterranean sea called me to Villefranche sur mer. I found a wonderful place right in the harbour of Villefranche. We signed a promise to purchase today. I am hope to finance about 39 % of the value of the property.
Does this apply to other departments like Haute-Garrone? I’m looking to buy an apartment and I’m trying to do this on a BTL as I’ve seen great demand for this location for serviced accommodation. Price is €450,000 and I’m willing to put 30% down - I’m not a resident, however I have seen that you can get residency if setting up a company and then perhaps a commercial BTL could be better…? Do you know if commercial BTL mortgages are a thing in France? And do they let you refinance after 3 months or so? Really useful video - just subscribed.
Hi Avy, Please seek specialist help on mortgages and residency. As far as I’m not aware of achieving residency through setting up a company, my understanding is it needs to be where you pay your tax. 30% looks OK for a downpayment if non resident but it will depend on your financial situation how much you can borrow. Refinancing is cumbersome but doable for a standard mortgage, I’m not specialised in the commercial. DM me if you’d like specialised operators. Cheers
Hello friendly Alex. I am curious about real estate market in Paris. I heard a lot of Cochin dancers in PbN companies invest in apartment there. Not sure what prefecture or arrondissement. Maybe I should save more US dollars and give to my friends in France first? Like Nancy for instance?
So, if I need quotes from contractors ahead of time in order to get preapproved, that means that I need to go find a place with a real estate agent first? I’m confused on the order. I’m VERY interested in purchasing something, as a foreigner, but I am particularly interested in something that I can renovate. I don’t know any contractors there
Hey, So you don’t need a contractor quote to get pre approved, but it’s good to walk the property with one before making an offer to get a ballpark for your offer pricing. A full renovation in Paris will cost 1500-2000€/m2 and ++++ if you like! We put clients in touch with English speaking architects and contractors depending on the type of project. Pretty easy to run remotely.
@@AlexanderMartinParis I definitely will be reaching out soon. I’ve been watching your videos for quite some time and I’m extremely interested in purchasing something (mainly something that can be renovated if it gives me a better return) I’ll actually be there next month for a couple of days to establish a relationship at Hermes. Random, but would you happen to know anyone there? I’m wanting a leather appointment but don’t want to have to do the lottery. I just don’t have/know a sales associate that works there
@PrettiBoiBoutique usually light renovations are priced accordingly but I tend to fine heavier is not necessarily. Email (in bio) me about Hermès and exactly what you need, thanks.
Do you have an equivalent of SELLER FINANCING in USA where the seller takes a down payment (EG 25%), and then you make payments to the seller for a few years before refinancing it is very common in America and is called seller financing were the buyer gets the deed to the property, but it is subject to repayment of the mortgage to Seller. Do you have anything like that in France?
There are no assumable mortgages or subject to as the title process is done by public notary and you have the contractual obligation to inform your bank when selling. Seller financing I guess it could work but as the title process is so black and white the seller would have no real leverage if the buyers stopped paying.
@@AlexanderMartinParis when you do proper paperwork, seller would be protected the same way the banquet it’s just a Seller becomes the bank you put your considerable down payment and then you make payments to the seller and if you don’t make payments, they use the same process is the banquet for clothes on the property? I think it’s called Credit Vendeur so it does exist.. if only God will give me liberty to come to France I would figure it out lol please pray for my liberty From evil American regime of injustice, and abuse
Come to think of it you could do what is called a viager which is basically the same and you pay a lump sum up front then monthly payments over a set or open (usually until sellers death) amount of time. That could actually work!!
Hi Alex, my partner (French) and I (American) are looking for a home in France (Southwest) in the next 18 months. We were told that we must be a fiscal resident to get a mortgage. We both work in NYC. Was this guidance inaccurate? I looked for how to DM you but couldn't find it.
Hi Kyle, right now the mortgage situation is very difficult both for residents, and almost impossible for non residents du to rapidly changing rates. We expect this to change. You can find my contact in the about section : alexander@alexanderstudios.com
@@AlexanderMartinParis In what way is it easier? Does it make it possible to go through a bank and get better interest rate? This is the situation I'm in; my wife is French with a CDI in France and I'm American with a salary from a US company.
The banks have different conditions for residents and non residents. Even if you are not currently residing in the country they will take into consideration past history and if you’re financially established in France. Best is to speak to a specialist mortgage broker.
I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks. I believe having 75K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities
Read The intelligent Investor by Benjamin Graham - in short: invest in (passive) index trackers; watch out for fund charges; invest & don’t speculate; don’t try to time the market - invest smaller amounts regularly over time rather than large amounts rarely; diversify, ie invest in funds/ trackers rather than individual stocks (if you invest in index trackers like the S&P 500 or FTSE 100 you’ll be automatically diversified to those 500/100 stocks, but you can and should take this further and keep some cash, commodity, emerging markets, etc) … as always with these things, do you own research & don’t believe in any get rich quick schemes.
![Nice, France. Best Neighborhoods? Pros & Cons to [Carré d’Or]. Retire to French Riviera!🇫🇷](http://i.ytimg.com/vi/vRbgTBB9JzU/mqdefault.jpg)
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets..................
Personally, I can connect to that. When I began working with Jenny Pamogas Canaya a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market...................
How can I reach out to this coach? because I'm seeking for a more effective investment approach How good is this person at portfolio diversification, particularly with regard to digital assets?..........
Jenny Pamogas Canaya. is my adviser and she is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.................
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé............
Hello Alex, thanks for the video. I live in pairs, I am a real estate agent who finds a property with a lot of renovation projects and gets the renovation done for my client. I usually send them videos about how they can take the loan. it's beneficial. good work.
Thanks Anant. That’s a great model, lots of value add!
Hi Alexander, I have enjoyed watching and learning from all your videos. I had initially looked to purchase an apartment in Paris but my love for the Mediterranean sea called me to Villefranche sur mer. I found a wonderful place right in the harbour of Villefranche. We signed a promise to purchase today. I am hope to finance about 39 % of the value of the property.
Congratulations Hong, that’s a wonderful part of France! I’m glad that our videos could help this exciting project even the smallest bit :)
Excellent presentation. Very informative.
Thank you François !
Hello Alexander - very informative video. Will you please put a word out when the mortgage climate for foreigners improve?
Hi Miguel, we’ve had some changes so things are improving (slightly). Feel free to reach out!
Does this apply to other departments like Haute-Garrone? I’m looking to buy an apartment and I’m trying to do this on a BTL as I’ve seen great demand for this location for serviced accommodation.
Price is €450,000 and I’m willing to put 30% down - I’m not a resident, however I have seen that you can get residency if setting up a company and then perhaps a commercial BTL could be better…?
Do you know if commercial BTL mortgages are a thing in France? And do they let you refinance after 3 months or so?
Really useful video - just subscribed.
Hi Avy,
Please seek specialist help on mortgages and residency. As far as I’m not aware of achieving residency through setting up a company, my understanding is it needs to be where you pay your tax. 30% looks OK for a downpayment if non resident but it will depend on your financial situation how much you can borrow. Refinancing is cumbersome but doable for a standard mortgage, I’m not specialised in the commercial. DM me if you’d like specialised operators. Cheers
Helpful - Thank you!
You’re welcome 🙌
Hello friendly Alex. I am curious about real estate market in Paris. I heard a lot of Cochin dancers in PbN companies invest in apartment there. Not sure what prefecture or arrondissement.
Maybe I should save more US dollars and give to my friends in France first? Like Nancy for instance?
So, if I need quotes from contractors ahead of time in order to get preapproved, that means that I need to go find a place with a real estate agent first? I’m confused on the order. I’m VERY interested in purchasing something, as a foreigner, but I am particularly interested in something that I can renovate. I don’t know any contractors there
Hey, So you don’t need a contractor quote to get pre approved, but it’s good to walk the property with one before making an offer to get a ballpark for your offer pricing. A full renovation in Paris will cost 1500-2000€/m2 and ++++ if you like! We put clients in touch with English speaking architects and contractors depending on the type of project. Pretty easy to run remotely.
@@AlexanderMartinParis I definitely will be reaching out soon. I’ve been watching your videos for quite some time and I’m extremely interested in purchasing something (mainly something that can be renovated if it gives me a better return) I’ll actually be there next month for a couple of days to establish a relationship at Hermes. Random, but would you happen to know anyone there? I’m wanting a leather appointment but don’t want to have to do the lottery. I just don’t have/know a sales associate that works there
@PrettiBoiBoutique usually light renovations are priced accordingly but I tend to fine heavier is not necessarily. Email (in bio) me about Hermès and exactly what you need, thanks.
@@AlexanderMartinParis okay, Ill email you now. I sent a dm on Instagram but that was before I saw this
@@AlexanderMartinParis Email sent! Thank you
Do you have an equivalent of SELLER FINANCING in USA where the seller takes a down payment (EG 25%), and then you make payments to the seller for a few years before refinancing it is very common in America and is called seller financing were the buyer gets the deed to the property, but it is subject to repayment of the mortgage to Seller. Do you have anything like that in France?
There are no assumable mortgages or subject to as the title process is done by public notary and you have the contractual obligation to inform your bank when selling. Seller financing I guess it could work but as the title process is so black and white the seller would have no real leverage if the buyers stopped paying.
@@AlexanderMartinParis when you do proper paperwork, seller would be protected the same way the banquet it’s just a Seller becomes the bank you put your considerable down payment and then you make payments to the seller and if you don’t make payments, they use the same process is the banquet for clothes on the property? I think it’s called Credit Vendeur so it does exist.. if only God will give me liberty to come to France I would figure it out lol please pray for my liberty
From evil American regime of injustice, and abuse
Come to think of it you could do what is called a viager which is basically the same and you pay a lump sum up front then monthly payments over a set or open (usually until sellers death) amount of time. That could actually work!!
Hi Alex, my partner (French) and I (American) are looking for a home in France (Southwest) in the next 18 months. We were told that we must be a fiscal resident to get a mortgage. We both work in NYC. Was this guidance inaccurate? I looked for how to DM you but couldn't find it.
Hi Kyle, right now the mortgage situation is very difficult both for residents, and almost impossible for non residents du to rapidly changing rates. We expect this to change. You can find my contact in the about section : alexander@alexanderstudios.com
Great video. Can you recommend a good mortgage broker in France? Thanks!
Glad you liked it! Of course, please email me. Thanks!
If you’re pacsed/married with a French or EU citizen is waaay easier, specially if they already own an apartment
Yes this is usually true!
@@AlexanderMartinParis In what way is it easier? Does it make it possible to go through a bank and get better interest rate? This is the situation I'm in; my wife is French with a CDI in France and I'm American with a salary from a US company.
The banks have different conditions for residents and non residents. Even if you are not currently residing in the country they will take into consideration past history and if you’re financially established in France. Best is to speak to a specialist mortgage broker.
Also, Essentially it’s easier for them to go after you if some thing goes wrong!
can you help me to open bank account in Paris im from new jersey
BNP Paribas do international, or Wise if you don’t need a physical branch.
Bravo
Thanks!
I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks. I believe having 75K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities
Read The intelligent Investor by Benjamin Graham - in short: invest in (passive) index trackers; watch out for fund charges; invest & don’t speculate; don’t try to time the market - invest smaller amounts regularly over time rather than large amounts rarely; diversify, ie invest in funds/ trackers rather than individual stocks (if you invest in index trackers like the S&P 500 or FTSE 100 you’ll be automatically diversified to those 500/100 stocks, but you can and should take this further and keep some cash, commodity, emerging markets, etc) … as always with these things, do you own research & don’t believe in any get rich quick schemes.
Can Americans get a mortgage?
Depending on your financial profile. Theoretically yes but the climate is difficult at the moment.
Answer: no.
DM if you need a good broker.
what's the mortgage situation now?
For non residents over 50 or without a regular income (sole traders, investors etc) it’s difficult, otherwise it’s doable.