A
Accountant
Guest
Im 27 yrs of age and finishing my accountancy qualification in 2 weeks. Ive made approx €90k on the sale of my 1-bed apt which I bought 5 years ago. Im very cautious of purchasing immediately in ireland due to the down-turn so I plan on renting(in Galway) for a year or 2 & waiting until there is real value. A friend of mine recently bought an old delapitated hotel(42 bedrooms) in the south of france and plans to convert it into 20 apartments with a gym. He owns a couple of apts in france but he is a novice in terms of such a project.I am seriously considering investing in such a project but at a smaller scale to start with i.e. convert an old building into 4 or 5 apts in a good location. I plan on researching as much as possible and "shadowing" my friend with his project to learn the most efficient way to complete such a project. From an investment appraisal point of view, my professional experience will help me alot to analyse specific investmentt opportunities but I would be very keen to hear from anyone that has experience of profiting from such an investment. Did you have an agency in france looking after legal, Tax etc? How often did you travel to france to monitor the project? what were the problems that you faced? Are there specific things you would have done in hindsight to minimise certain delays etc? Thanks