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.
 
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?

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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