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Buying a primary residence, purchasing a holiday home or investing in short-term rentals: real estate is a topic that concerns almost everyone at some point. Yet making the right decisions, understanding the rules of the game and avoiding common pitfalls is no easy task. Jérémy NABAIS (who graduated the Grande École Program in 2017), content creator and serial entrepreneur, shares his insights into a sector that continues to offer countless opportunities.

You have been hosting the leading podcast dedicated to real estate since 2020. How did this adventure begin?

I taught myself about real estate investing by watching YouTube videos and listening to podcasts. Once I had consumed all the content I could find, I decided to launch my own podcast and created “Ça fait un bail !”. A few months later, I signed my first sponsorship agreements with real estate brands. That experience made me realize the reach and power of long-form, authentic content. Today, the podcast attracts more than 60,000 investors and real estate enthusiasts every month.

How is the real estate sector doing in France?

I may be going against the grain here, but I believe the French are actually quite fortunate compared with people in many other countries. We benefit from relatively low and stable interest rates, and borrowers can often renegotiate their mortgages when rates fall. There are still plenty of attractive opportunities on the market. By interviewing more than 200 investors, I discovered that the 35% debt-to income ratio can sometimes be exceeded when a project is profitable, well-structured and supported by a solid understanding of the banking system. It is also important to remember that, among all the investment options available, real estate is unique in its ability to generate wealth through multiple mechanisms simultaneously.

How so?

First, rental income provides a regular source of revenue. Depending on the financing structure, it can cover expenses and loan repayment, and sometimes even generate positive cash flow. Second, mortgage repayments contribute to what investors call equity build-up. With each monthly payment, the outstanding debt decreases and your ownership stake in the property increases. Finally, the property’s value can appreciate over time, either because of market conditions or through improvements such as renovations and optimization projects. Taken together, these three drivers of wealth make real estate a compelling long-term investment.

What are the common pitfalls to avoid as new investors?

The first thing is to properly assess renovation costs and future maintenance expenses, both upfront and over the long term. You also need to use the right tools to select and manage tenants, particularly to minimize the risk of unpaid rent. Finally, do not underestimate the importance of making the right tax decisions. It can save you from paying more tax than necessary year after year. In short, you need to educate yourself. Be wary of off-the-shelf investment products, such as tax-driven investment schemes, serviced residences or any product specifically marketed as “designed for investors”. These are often red flags.

What makes a good real estate investment ?

I am skeptical of claims that a real estate investment can generate significant returns within a year. Yet, getting started in real estate is easier than starting a business. I often tell friends who want to quit their jobs and launch a company that they should first consider a real estate investment. It is an incredibly valuable learning experience. To succeed, you need to enjoy solving problems and surround yourself with the right partners. Those who are willing to take risks and have strong negotiating skills tend to get a head start. Ultimately, the best deals are made when you buy.

What are the current winning strategies for a good deal?

To be clear, the market has changed significantly with rising interest rates and higher operating costs. In this environment, if you want to build a profitable project that generates positive cash flow from the first year, you need to focus on value-add strategies. These may include renovation projects, property division, change of use, energy-efficiency improvements or unique Airbnbs. Above all, do not hesitate to negotiate when purchasing a property. Personally, I believe the best projects are those that offer a genuine experience: places with a story, a unique character and a sense of authenticity, shaped by taste and passion.

Can you give us some examples?

An investor who enjoys life in the countryside could create a holiday rental offering a truly immersive experience, with free-range animals and a carefully curated environment. Someone passionate about climbing could design an Airbnb specifically for climbers, complete with indoor walls, equipment available on site, and local recommendations. Likewise, a musician could invest in a vaulted cellar in Paris and transform it into a recording studio for musicians and podcasters. These types of projects often offer both stronger returns and greater personal satisfaction.

You recently embarked on quite a project yourself with the acquisition of a château! Can you tell us more?

I met Martin Menez through my podcast. We were both under 30 and shared a passion for historic buildings. Every weekend, we would visit châteaux and estates, documenting our discoveries on our Instagram account, Château story, which now has more than 40,000 followers! After eighteen visits, we fell in love with an extraordinary place: the Domaine de Fontenay, a 12-hectare estate steeped in history, located in a small town in the Sarthe region. This medieval château, built more than 800 years ago, was used as a filming location for “The Man in the Iron Mask” starring Leonardo DiCaprio. It was April 2023 and all that remained was to turn our passion into a business plan.

How did you do it?

We issued a call for support online through the podcast and on LinkedIn, with a post that reached nearly one million views! Within three days, we raised €1.2 million to purchase the château (€780,000) and fund its renovation. We have spent the past two years restoring the property and transforming it into a truly unique destination. We are now delighted to have opened the Domaine de Fontenay, which offers accommodation for 53 guests, a vast barn, the largest vaulted cellar in the Sarthe region and even a private beach. The estate was designed to host unique experiences, whether corporate seminars, family holidays or themed retreats.

This article was written by Luna Créations for #IÉS, the IÉSEG Network magazine.