Investing in SCPI: the way forward
With a record level of fundraising of 8.9 billion euros, investment in SCPI is experiencing tremendous enthusiasm. If you just need to fill out a simple form to obtain shares, what are the points of vigilance to take into account before taking a position? Overview of the points of vigilance with Vaneau Patrimoine.
SCPI: understand everything about this investment
The SCPI (civil society of real estate investment) has not finished seducing investors. This real estate investment vehicle makes it possible to invest, through a management company, in real estate in the broad sense (residential, tertiary, logistics ...) without having to deal with the management of the real estate stock (collection of rents , selection / purchase / resale of goods, management of tenants, works, etc.).
On average, returns vary from 3% to 8%. The investor also has the choice, because he can either buy shares of tax SCPI, backed by a device such as Pinel to take advantage of the advantages in terms of tax exemption or opt for a performance SCPI. Management companies, banks and insurance companies regularly offer shares for sale. The investor can then buy his shares in cash or by using credit leverage. The entrance ticket is often between 1000 euros and 10,000 euros.
SCPI: what are the risks of this type of investment?
To succeed in your investment, it is important to play the diversification card. On the nature of the assets (tertiary, residential, commercial ...) and on their geographical location by asking the right questions. Buying SCPI shares containing tertiary real estate in a city that does not attract businesses does not make sense. It is also essential to find out about the nature of the leases signed between the companies and the management company, for example by checking if a deductible does not apply with regard to the payments of the rent by the tenant companies. To avoid this kind of bad surprise, investors can consult the quarterly bulletin published by the management company which compiles all of this information or retrieve the annual management report of the SCPI. This document contains key elements on the management company's reserves and future work to be done in the buildings.
Finally, do not forget to take an interest in the taxation of SCPI shares. The latter varies whether the units were acquired with credit or cash. SCPI income is always considered as property income and is taxed up to the marginal tax bracket plus social security contributions. When the investment has been made with the help of a loan, the purchaser can subtract from his property income all the financial charges that he bears during the year (loan interest, banking fees, loan insurance…).
How to get out of the SCPI?
Another important concern, before investing: the exit from this type of investment. For SCPIs with fixed capital, it is sufficient to send a sale form to the management company, specifying the number of units sold and the expected price. The company enters this sell order in the register and matches it with the buy orders. If the exchange conditions are similar, the transaction is carried out. Otherwise, the investor awaits a purchase offer at the so-called "execution" price. The amount of the latter corresponds to the supply and demand market and not to the value of the rights giving the said part on the portfolio of assets of the SCPI. There may therefore be a premium in the best case ... or a discount. For SCPIs with variable capital, that is to say the companies in which the shares are issued, at any time as long as the maximum capital is not reached, entry and exit is made at any time. what moment. * Source: French association of real estate investment companies
Do not hesitate to contact Vaneau Patrimoine for more information.
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