Rental investment is one of my objectives for 2014. The prospecting work therefore (re)started at the end of last year, and my choice fell on the apartment building, which has a certain number of advantages. attractive, including:
After collecting a certain amount of information (proximity to shops, schools, rents, property tax, etc.) on several buildings, 2 very similar properties caught my attention. Their characteristics are as follows:
The first is for sale by an individual, the second by an agency. The 2 buildings are neighbors and are adjoining on one side. I am advancing the steps in parallel on each of them to have the maximum of elements at my disposal, to limit the risk and with the idea of collecting some elements of negotiation on the sale prices displayed.
This week, I met with a credit broker to confirm the feasibility of the project and see if my monthly loan payment assumptions are correct. The previous days, I prepare my complete file, my arguments and I arrive at my meeting full of motivation: debt ratio, rents collected, savings in place, monthly savings, end of payment of the main residence loan, typology of property… Everything is discussed (except the rest to live, weird…), and it is nevertheless with relief that my interlocutor confirms to me that there will be no problem to obtain a loan, and shows me a first rate qualified as pessimistic lower than the one I had taken in my calculation hypotheses!
With all that, I tell myself that I just have to make a proposal and agree with the seller (not the 2 at the same time, so as not to have 2 properties to acquire simultaneously..)! I make a last phone call to the real estate agency, to try to get some more potentially valuable information on the reason for this sale, and that’s when she tells me:
Here I am chilled! Some research on the internet later, I decided to reluctantly abandon this file, after noticing:
Indeed, this could have been an additional negotiation lever, but the risk seems to me too great in view of the gain!
Of course, it’s only gone, and I’m continuing my research with the aim of finding a rental property that meets my criteria!
And you, what would you have done in that case? Have misadventures of this type ever happened to you in your real estate projects?