Making the Bank of Mum and Dad redundant

Mum and Dad are off the hook with the recent launch of CoVESTA, a fractional investment property platform that brings potential buyers together in syndicates to purchase properties they may not be able to afford on their own.

CoVESTA has had more than 5,000 people register their details since launching in December 2017, with many excited about being able to invest in properties located in exclusive, high capital growth suburbs of Melbourne along with the Surf Coast, Geelong and the Bellarine.

Unlike other syndicated investment offerings, CoVESTA is the first to give Australians a choice of investing in any available property, anywhere in Australia.

Instead of having to save the usual 20 per cent deposit to purchase a property, investors will be able to purchase a property in 1 per cent blocks.

For a $350,000 property in regional Victoria, investors would only need $3,744, including all fees and taxes.

All an investor needs to do is decide what percentage they want to own, and this investment can be made from either cash savings or from superannuation held in a SMSF.

Investors can even choose to invest andrent a property, which means that with a minimum investment of 5 per cent of the property purchase price (plus costs), they can become a property co-owner and the tenant for up to five years.

The other investors in the syndicate will have a long-term tenant with a vested interest in looking after the property.

Once registered with CoVESTA, investors can search and view any property, retail or commercial, for sale nationwide.

They can set up their own investor syndicate with friends, family or workmates or they can choose to join a syndicate led by experienced property experts.

CEO Daniel Noble founded CoVESTA to help people at all stages of their life and said it made it possible for people to buy into a suburb they couldn’t normally afford.

“They no longer have to settle for purchasing far away from where they would want to live.

“It’s also proving to be attractive to people who already have a mortgage on the home they live in but would like to invest in another property without getting into too much debt.”

For more information, head to covesta.com.au.