Corso Vercelli 11, Novara, Italy
Fix and Flip investment opportunity in Novara, Italy
- Start of investment period24.09.2020
- Start time21.09.2020 08:00
- Asset classResidential
- Investment typeSpeculative
- Investment end date11.01.2021
- Remaining termOverdue 90+ days
- Expected rate of return10.1% p.a.
- Expected cash yield%
- No of investors286
- Goal€85 000
Corso Vercelli 11, Novara, Italy investment opportunity consists in the purchase, renovation and sale of a 100 sqm apartment located on the top floor of the building, in a semi-central area of Novara, Italy.
The Sponsor, Onyx Srl company, is going to buy the apartment and completely renovate it. The sale is estimated within 10 months.
The Sponsor company has an in-depth knowledge of the reference market and has already carried out the renovation and resale of several apartments. Sponsor company, during the last 12 months, has successfully completed and sold 4 apartments in the same area.
Crowdestate investors have the opportunity to participate in the project with a loan of up to a maximum of EUR 85 000, equal to a maximum of 55% LTV. Remaining funds will be invested by the Sponsor company itself.
The term of the investment is estimated in 10 months. The return for investors is 10% on an annual basis, which will be repaid in a single tranche at the end of the project, by July 2021.
As a guarantee, Crowdestate holds a lien on 50% of the shares in the company, as well as a personal guarantee from one of the owners of the company for a total of EUR 85 000.