Robert Davies
Hannover (DEU)
Role(s):
Founder/Owner/Principal
Imagognotataff Immobilien
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Startup
Location:
Hannover
Industry:
Real Estate
Year Founded:
2010
Number Employees:
1-10 people
Description:
Imagognotataff Immobilien is a newly founded company that targets high yielding residential apartment blocks in Germany. Within five - ten years the company aims to have a minumum of three high income properties running consecutively. This will ensure that when it comes to repayment to each Investor, there is enough liquid assets in the company in the event of the property having dropped in market value. The company will be a Sole Proprietorship owned and managed by Robert Davies. Each property will be managed by a professional letting agency.
The companies objective is to invest in properties that are;
Fully Tenated
Fully Refurbished/No Damage-Well Kept OR In need of slight refurbishments bringing the value of the property up, and possibly the rental income
Well Located
High Yielding
This will enable the company to immediately earn and maintain, a high level of income.
When Imagognotataff immobilien recieves the Initial funding from it’s principal Investor, the start up capital required will be 120% of the property to be purchased. The 20% expenses is related to a commission fee (7.14%), stamp duty/notary fees/transfer tax (upto 7.5%), Agency Fees (5 - 6% split between the buyer and seller) and the remainder for working capital.
Imagognotataff Immobilien is seeking 4,440,000 Million Euros over a period of 10 years at an A.P.R. of 10%. The property purchased will be used to secure 80% of the funding, and the other 20% will take 2 years to repay from the proceeds of the properties earnings.
Property Details;
Cost - 3.700,000 Euros
Location - Leipzig (Germany)
Total Area - 23,759 square metres
Units - 440
Yield - 18.32% - 677,840 Euro (fully tenanted)
Letting Agency Costs P.A. - 73,200 (15 (cost per unit) x 440 (no. of units) x 12 (months))
Maintenance Funds - 23,759 x 2 = 47,518 (2 Euro psqm)
NOI - 557,122 Euros (677,840 - 73,200 - 47,518)
CAP - 15.06% (557,122/3,700,000)
Investor (10% of 4,440,000) - 444,000 Euros
677,840 - 444,000 - 73,200 - 47,518 = 113,122 Euro Profit