Belwood Investments, a fractional luxury real estate investing app, announced its acquisition of a residence in Palm Springs, California, with plans to renovate and flip the house within six months.
Belwood Investments said it was raising $250,000 from investors to complete the renovations, with an estimated ROI of 45%. The Newport Beach, California-based Belwood Investments purchased the home for $775,000 and intends to spend $250,000 on construction. The company added the property’s estimated after-remodel value is $1.45 million, with the planned renovations including a new kitchen, redesigned bathrooms, updated systems, a refinished pool with new landscaping and a renovated pool house.
“Palm Springs is a highly sought-after city in California, with a vibrant tourism economy, natural beauty and stunning architecture,” said Bo Belmont, founder and CEO of Belwood Investments. “We’re excited to bring this high-potential opportunity to our investors.”
Photo courtesy of Zillow
