Australia's CoVESTA, one of the first co-ownership based investment platforms in the country, has announced that it is looking for people who want a property investment that provides more than monetary returns.
The company said that people who normally donate to charities can invest as little as $3000 in an investor syndicate and, once the syndicate is full, a property suitable for charities or refuges is bought under their names and held in a trust for five years.
The first of these properties to be sold on the CoVESTA site is a five bedroom property in Grafton, which has been rented as a recovery house by the Cranes Care and Support organization for more than 20 years.
People with special needs are accommodated in the property over a 12 week period and taught living skills, provided with a health plan, budgeting and access to social services to reduce recidivism and to help them reconnect with the community.
Investors are not locked in. Syndicate buyers can opt to sell their block at market value or purchase additional blocks in the syndicate if available.
Read more here.
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