We are in the process of leveraging the very low real estate market in Sicily, Italy, to purchase multi unit properties that need a little work, but can begin generating income within a couple months of purchase. We have engaged a Sicilian Legal firm to create a subsidiary company in Italy “Notus SRL” and set up the business network to handle the local operations. This firm is also in the process of helping us leverage four Italian government investment incentives which could net upwards of 30,000 Euro which are awarded as grants and very low percentage loan guarantees.
We have spent months researching the Sicilian real estate market and reduced over 800 properties to one which looks to have best potential for our current business model. The red star on the map above shows where that property is. There are a number of other properties with similar potential coming on the market regularly.
To reduce the risks in the purchase of these properties our lawyers in Palermo are getting local Building Engineers to inspect the properties for any construction or legal issues prior to negotiating the sale of the property. The have also provided what they believe would be a reasonable market value for the properties once improved and generating income. For more information on this property select the link below.