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#32 Tobacco Warehouse I like this candidate for a mini‑hub
#53 Têxtil Cravinos Looks to be the best candidate if we want to go big. A lot of potential here
#60 Institut Lamothe-Poulin Lots of space, at an excellent price, although not so exciting surroundings. A car would be very useful to have here.
Hey Ciprian good to see you here! I like your choices, same as me, I may yet visit the Tobacco warehouse, I'd gotten as far as negotiating to get some of the neighbour's garden for it. Not quite the potential as a larger property which I consider key for the first, if not maybe quite as large as #53 Têxtil Cravinos amazing as it'd be. The 1,000m2 of sheds/hangers at #60 Institut Lamothe-Poulin would be darn cool for projects/crafts/performance/indoor sports, and yes there'd be at the very least a communal minivan at all of the properties, essential for fun trips out.
#65 Résidence du Petit Rocher is very interesting too, if we can get it at a good price.
These French ones are all auctions so if they don't sell they try again. I suspect #65 Résidence du Petit Rocher will sell, I visited one in a similar region, it was lovely nightmare, yet sold with multiple bids. Much more demand up north.
The biggest problem with France is taxes, I've made an enquiry to the department, and booked a visit for #60 Institut Lamothe-Poulin on the 30th January as poll results are suggesting preference for the middling strategy, so I'll also do some quick plans in preparation. It has a better climate than up north and as much as I like damp northern woods and valleys (not sarcastic!) Agen has rivers to swim in summer. There's also now direct high speed services to Paris. 🚄
BTW I'll add reply‑notification emails ASAP. ;)
Good luck on the visit on the 30th at #60 Institut Lamothe-Poulin! The middle way strategy sounds good, too.
Just out of curiosity, how much are the taxes, in relation to the price of the property?
Always interesting visiting properties! #60 Institut Lamothe-Poulin was run by the department itself which doesn't pay taxes, so not known (yet).
The purchase duties wouldn't be significant (under €10k) but I'm talking of the annual taxes, which for a property this size could easily be €10k/year. Or in context for us, ~€40/month per room. It is calculated on both size and facilities (e.g. lots of bathrooms would increase it). Comparatively Portugal / #53 Têxtil Cravinos is much less annually, but more up‑front; this is less up‑front and more ongoing, so (arguably) better for scaling more slowly so long as we budget for several years of future taxes in the capital — although there should be several years free / reduced because it is not yet renovated.
For facilities I think Lamothe will be better, but as you said Cravinos is better for location. The important thing is that the first can be successful to do more. ;)
#32 Tobacco Warehouse could be good :)For Italian properties I already have done all the spreadsheets to calculate IMU (property tax) TASI (some other random tax) and TARI (the garbage tax). These can be significant and depend on the cadastral category, square meters, amount of people. Generally speaking though, Italy is complicated legally, and if we want to have more than 6 rooms and 12 spaces, and also rent to guests for periods less than a month, we get into strange territory legally speaking. I still need to crack this one.
Remarkably #90 Molino batán manages to balance most of the criteria. Except for effort as mostly unusable, but really couldn't complain at the price. If it turns out to have okay beams it could be the leading option as a backup plan. Am awaiting clarification from the owner. Would still be doable without beams, but significantly more work than I particularly fancy.