Ground floor, Topete, Terrassa, Barcelona
This project looks familiar? That is right, because this project is almost identical to our first Topete project published. Our last project was the second (2nd) floor, and this project is concerning the ground floor of the exact same building in Terrassa. In total, the building has three floors, consisting of the ground, first, and second floor. The apartment has 100 square meters including a very spacious 180 square meter garden, 3 bedrooms, and 1 bathroom.
The difference between the second and ground floor projects is in the amount of renovations needed. In terms of the ground floor, there is an old house in the garden most likely created by one of the previous owners. This garden house will be demolished completely to open up the garden bringing in a lot of natural light. After, the space of the garden will be converted to an outside lounge area including a swimming pool. Also, the apartment will be enlarged with a 10 square meter room build into the garden space. Moreover, on the other side of the apartment, or street side if you will, the first lobby room will be converted into a parking space. This is because it is a big plus to have a parking space for apartments in Terrassa as it could be hard at times to find a parking space in the area surrounding the building. The parking space will also boost the value of the apartment. After the renovation is done the place will be the kind of property that has a high demand in the Terrassa market.
The project is going to be a fix and flip project. Meaning that we are going to buy, then renovate, and then sell the apartment. For the fix and flip concept, our investment community can participate in two ways:
- Via a variable contract: You are investing in the project and getting your investment plus interest back after completion of the project. Your return is based on the final selling price of the property, or in other words, the successfulness of the project, with a minimum of 5% guaranteed. From the ROI there will be a 15% My Blue Bricks commission subtracted. See the details below in the Investment Results Prediction part.
- Via a fixed contract: You are investing in the project and getting your investment plus 5% guaranteed interest back after 8 months. This return is fixed. No matter the successfulness of the project, the investor will receive his or her initial investment plus ROI back after 8 months. In this setup, there will be no My Blue Bricks commission subtracted.
Some more features of the city: it has the biggest hospital outside of Barcelona and the city centre is composed by nice pedetrian streets with a lot of shops.
- Complete renovation of the apartment
- A complete new open kitchen design
- Redoing the walls throughout the whole apartment
- New flooring throughout the apartment
- New interior paint throughout the apartment
- New electricity systems
- Maximizing both sides of the apartment where the light is coming in
- Converting the garden in a lovely place.
- Converting the front door into a parking space
- Making the apartment bigger 10 sqm more.
Architectural Plans Not available yet. Coming soon.
3D interior view before renovation Not available yet. Coming soon.
|Listing Period:||2-4 months (partly overlapping)|
|Expected Total Project Period:||8-10 months|
Investment Results Prediction: Buying-Renovating-Selling – Variable Setup
|Rehab + costs:||€56.000|
|Selling price for €141.000 or below – €145.000||5% ROI|
|Selling price between €145.001 – €149.000||6.5% ROI|
|Selling price between €149.001 – €153.000||8% ROI|
|Selling price between €153.001 – €157.000||9.5% ROI|
|Selling price between €157.001 – €161.000||11% ROI|
|Selling price between €161.001 – €165.000 and above||12.5% ROI|