Photo by Mike Mertes / AZBigMedia
AZ Big Media | AZRE
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.”
