Response from one of our clients to a future prospect who needed to be reassured before crossing the investment course at DETROIT, read below:
"Hello Madam Hello sir,
Actually, I bought a property with one of the companies of the group KALLISTE INTERNATIONAL in Detroit since November 2016.
I wanted to invest in the United States because the tax pressure is too high in France on real estate income (marginal tax rate + 15,5% of CSG / CRDS, property tax and we are not immune to new taxes). With the tax convention, I have only a slight friction tax in France.
So, I looked abroad (Europe, Asia, Americas) and I quickly saw that the best rates of return were in the US. I took out my calculator and saw that the best rate of return is in Detroit. I matured the project over several months (over a year) to study the market, I contacted several people (a little randomly via the internet) and I had several contacts over the phone. Of course, buying without knowing anyone and without going there seemed complicated. Finally, I chose to invest with KALLISTE INTERNATIONAL feeling and according to their speech (no guarantee of appreciation of xxx dollar, knowledge of the city) and I had a good feeling with Michael, that I have elsewhere met on Toulouse because he visited his family in France. We ate together and it went very well.
So I took the step, without going there. This company was very reassuring and sent me photos of the house before and after renovation, sent me the current lease. I have already come back to them for questions and they answer them in 24h generally. Rents are paid without delay and without irregularity to the property management account.
Regarding investment in Florida, I did not go because the calculation was done quickly. I invested 55000 USD in Detroit and I earn a gross income of 850 USD per month. In Florida, if we invest 150 000 USD, we have rents of 1200 USD. I watch every day articles about the renewal of the city of Detroit and I really believe in the rebirth of the city and so I preferred to leave me a margin of a new investment on Detroit for the 3ème or 4ème 2017 quarter. And if I invest 100 000USD more, I will have 2550 USD (3 × 850) gross rents against 1200 if I had invested the same amount in Florida. Regarding the added value, we can see the valuation of homes just at the beginning of the crisis. The house I bought, was worth almost 3 times more before the crisis. So, even at the level of surplus value, if I invest in 3 homes in Detroit, I can achieve the same value as those presented in Florida (or even higher), and in the meantime, the property income on Detroit will have been superior.
I am so far 100% satisfied with my purchase and KALLISTE INTERNATIONAL.
If you want to discuss it, you can call me at 0033 6 .. .. .. .. at mealtimes in France.
Finally, I want to say that I have no part in society and that it is really on the basis of my experience that I give you this opinion.
Mathieu ....... "
Possibility to contact Mathieu on request, he can provide you with information on international taxation because he himself is an international tax lawyer