Arizona residents looking to get in on the booming real estate market in Phoenix can invest as little as $1,000 in a new Neighborhood Ventures project, Venture at Villa Hermosa. The latest offering is a charming 14-unit property, located in Midtown Phoenix, that will be purchased, remodeled, and run as an Airbnb retreat. The target hold period for this investment is 2 years, with a preferred investor return of 12%.
The project was announced in January, and so far, 73 individuals have invested a total of $456,000 of the total targeted investment amount of $750,000. Jamison Manwaring, Neighborhood Ventures co-founder and CEO, says this is the second property the company is crowdfunding, renovating, and running as an Airbnb.
“Our first crowdfunded Airbnb project, Venture on 66th in Old Town Scottsdale, has been completely renovated, and the eight-unit building has been booked consistently with short-term rentals. We are looking to duplicate this success with Venture at Villa Hermosa.”
This is the fourth investment opportunity to be offered by Neighborhood Ventures, the first Arizona company to take advantage of laws that allow non-accredited investors to invest a minimum of $1,000 in Arizona real estate.
“As with all Neighborhood Ventures projects, we were very intentional in our selection of both the property and the location,” explains John Kobierowski, who brings more than 25 years of commercial real estate experience to his role as co-founder and president of real estate of Neighborhood Ventures. “We plan to update cabinets, flooring, bathrooms, kitchens, and electrical, with no major structural renovations required in these two-bedroom, one-bath units. The location couldn’t be better. This quiet residential neighborhood feels secluded, yet offers the convenience of the nearby shopping and dining options of the 7th Street restaurant corridor and the Uptown neighborhood.”
Those interested in learning more about partnering with Neighborhood Ventures on this current investment opportunity are invited to attend Talk & Tacos event at 6:30 p.m. on February 19 at the Neighborhood Ventures office, located at 5227 N. 7th Street, Phoenix, AZ, 85257. The event is free and guests can RSVP at http://bit.ly/2SAT9hG.