Our subsidiary company in Italy Notoc SRL owns the property in Sicily out-right. Our legal and engineering firms are also in the process of helping us leverage several Italian government investment incentives which could net upwards of 40,000 Euro which are awarded as grants and very low percentage loan guarantees.
We have spent a couple years 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 any properties, our lawyers in Palermo have local Building Engineers to inspect the properties for any construction or legal issues prior to the purchase 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.