Insight
Romanesco: Investors should only buy property where they have local oversight
“I learned from my dad at a young age, invest in, you know, places that you would live, places that you have family, places that you have contacts, because somebody has got to manage that property or keep an eye on it.”
Opinion
Romanesco says Americans buy struggling Italian and French towns' one-dollar castles
“Yeah, I think there are a lot of Americans and various other, that are investing in France in those, in Italy, In those, you know, it's a dollar, you know, a dollar for a castle because those towns are struggling and they need to bring new life in. And I think…”
Insight
Romanesco says the LA market overlooks middle-of-the-road homes
“Look for the middle-of-the-road, because our LA market, I feel either wants done, done, done, flashy, flashy, ready, or the deal, the bargain, the teardown, the mess. And that middle of the road property is opportunity.”
Assertion Partly supported
Romanesco: French property loans offer lower rates and 15-year terms
“Interest rates are much lower their 15 year term instead of 30, which is nice. So the great thing, yeah, the great thing about investing in France is that you know, you pay off Your loan's much more quickly.”
Disclosure
Romanesco bought a new construction property to pay off in 15 years
“We have one property that we, for, you know, we knew that we would pay it off in 15 years. It's in a great location. It was brand new construction, and that we would break even, right? So as long as we kept at least, even if it was down for a month, you know, …”
Disclosure
Romanesco targets hospital and university tenants for reliable turnover
“Location-wise for us is something that's very rentable, right? Close to, so like if it's close to university, if it's close to hospital, those kinds of things, and those are often the tenants that we're looking for. We don't want someone that's necessarily You…”
Disclosure
Romanesco puts down 25% to finance overseas property purchases
“So we have purchased a few just free and clear and then otherwise we're putting down about 20, 20, 25, 25%. I think we had to put down 25% in order to get the financing.”
Disclosure
Romanesco caps foreign investment property purchase prices at 500,000
“Yeah, the properties, we're not going over 500,000.”
Disclosure
Romanesco executes a slow-roll live-in residential renovation strategy in LA
“We don't put ourselves in a position where we have to sell at any particular time. We can time things. And so we invest in something that we believe in, in a location that we like. We live there, we do the work, we maybe do addition, do whatever we need to get…”
