Larionovo Leaseback scheme in France: Originally posted in April 08

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Bazzer

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I have approx 40k euro to invest,Went into Larinovo last Friday to invest in their latest Leaseback scheme in France,told them I would take the weekend to think about it,Seemed like a good investment however after reading other comments re leaseback we are very dubios.would Ibe mad to go ahead?
 
Re: Larionovo Leaseback

There are a lot of threads on leasebacks on the Overseas property forum. Worth a look.

Slim
 
Re: Larionovo Leaseback

Hello all,

My situation is that i withdrew from purchasing an appartment in the Algarve (Praia da Rocha) Portugal through Larionovo. Mortgage finance was not forthcoming for the development. Larionovo/Profile Ltd. in a letter dated 1st September promised a refund of all deposits and admin. fees if clients wished to withdraw.
Following this letter, I formally withdrew by email and phone to Larionovo in early September. I have tried to contact both Larionovo and Profile on a number of occassions by phone, email and letter. My phone calls were not returned and my emails and letters remain unanswered.
I am interested in hearing from anyone that has had similar issues with Larionovo in relation to this or other developments.
 
Re: Larionovo Leaseback

It would be sheer madness to consider investing given the amount of criticism now unfolding. My own view, experience based, is that you would be making a very serious mistake.
 
Re: Larionovo Leaseback

Check out the property management company behind the leaseback. They need to have a strong track record and financial reserves. If they go under you are in trouble.

I took on a leaseback in Les Ulis just outside Paris a few years ago. No trouble so far. Cash positive. Dealing with all of the different companies, accountants, tax etc (mostly in French) is a bit of a headache though.

I also bought a non leaseback in the UK a few years ago which has been relatively straightforward even in this difficult climate, and to be honest if I was doing it again, I wouldn't do leaseback unless you want / need the VAT back. Better to have the freedom to do what you want with the property and just have a property management company do the running for you. Once you find a good management company, and find the right rental price, you basically have a guarantee anyway if you buy in a decent area.
 
Bazzer said:
I have approx 40k euro to invest,Went into Larinovo last Friday to invest in their latest Leaseback scheme in France,told them I would take the weekend to think about it,Seemed like a good investment however after reading other comments re leaseback we are very dubios.would Ibe mad to go ahead?
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if management co is Pierre en Vaccance then they are the best out there but in the current economic climate id steer well clear from any prop investment for a long time.......
 
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