Overseas property syndicate/investment clubs?

I work in an estate agent's in Nice, France.

I would like to know more generally about property syndicates/investment clubs.

Have many of you dealt with them before re: property abroad. Good/bad?

I'd be interested in setting-up or working with something/somebody like that in Nice.

In your experience what are the yields like in Nice:
- Commercial
- Residential

Are you experienced in commercial or residential?

Are you prepared to invest money yourself in a syndicate?

Perhaps outline a 'notional' idea of what you propose...

It would be residential property in Nice. Its what I know.

Prices increased 12.6% for apartments in Nice last year. Rental yield depends on the apartment and area.

There are areas of Nice experiencing 15-24% increases.

I will be investing my own money in it.

I have not decided on specifics, but setting up an SCI is the most likely option. An SCI is a French company that exists only for property ownership. It has preferencial tax treatment.

Everyone would contribute a lump sum to the fund. From there, 80% mortgages would be used. It would have a defined lifespan (of about 5 years), with profits split according to initial contribution.

The main focus would be buying properties that need work, renovating them and renting them (Short-term holiday lets, or long term lets, depending on market conditions). This way the rental yield is maximised. Properties would be focused mainly on 2 or 3 areas of Nice which have the most potential.

My compensation would be a percentage of the profits. My agency wouldn't receive commission for sales I'm involved in, to prevent conflict of interest.

I'm open to ideas on structuring the fund/syndicate.

You did not mention what the occupancy rates are or the yield from apartments/blocks/houses. I predict a huge upsurge in Irish syndicates if they are properly packaged. You are wise to explore this area. Give a little more detail and I will reply.