The Midtown Penthouse For Sale in Batumi
City center luxury within walking distance of everything.
Own your share of a super posh penthouse with breath-taking sea views and earn passive income.
The Midtown is an incredible luxury property right in the heart of the city. It has panoramic views of the old city, the new boulevard, the 26 May Park and the entire beach and seaside boulevard. The views are absolutely stunning.
In 2019 we completed a project we lovingly call “Georgia House” which you can see on AirBNB if you click here. Georgia House has since become the most popular and most profitable property in the entire city. According to AirDNA, AirBNB, AllTheRooms, and Booking.com it generates more nightly bookings and more revenue than any other property in the entire region.
After completing Georgia House, we were surprised how much more demand there is for large properties with 4 to 6 bedrooms and 4 to 6 bathrooms. We get more requests for this type and size property than anything else. So, we decided to build “The Midtown Batumi Apartment“.
The Midtown is a super luxury large-scale apartment with 5 bedrooms and 4 bathrooms. It has a huge dining room, a professional chef’s kitchen, a professional bar, mixed-type sleeping areas, entertainment zones, movie screen, music system, professional laundry, and more.
We expect this to become the #1 most popular and profitable property in Batumi as soon as we open it in 2023. The building is entirely completed and we are now in the finishing stage. Essentially, we are doing all the interior remodeling and decorating now. We expect to open the property before the season in 2023. And, just like Georgia House, we expect it to be booked 365 days a year.
We divided the property into 25 co-ownership shares. We are keeping 15 shares ourselves and selling 10. The price per share is $18,000. You can co-own this super high-end luxury property and share with us in the daily profits. And, you can stay there for FREE any time you want during the year.
Fractional Ownership Investing
A scheme in which a group of people share ownership in an asset and the individual investors have access to the asset and share in the profits from the asset in proportion to the amount of their investment.
The Midtown Penthouse is a high-end luxury apartment with a value over $500,000. This type of asset is normally accessible only to high-wealth investors, but our unique fractional ownership model puts this type of valuable and profitable real estate investment within reach of almost any investor.
The penthouse is divided into 25 “shares” of registered real estate. You can purchase as little as 1 share, or buy all that remain available. The actual real estate will be registered in your name in proportion to your investment. And you will earn your fair share of the profits from the entire property according to the proportion of your investment.
With as little as $18000 you can be the co-owner of a high-end luxury penthouse in the heart of the city. You can stay for free anytime you wish, and earn passive income when you are away.
WHAT DO I GET?
The portion of the actual real estate is registered in your name in proportion to your investment. For example, if you purchase 1 share of this 265 square meter penthouse, then 10.6 square meters is legally registered in your name as the outright owner. If you purchase 10 shares, then 106 square meters is registered in your name. Regardless of the size of your investment, you are a legal registered owner to the title deed of actual real estate.
Each month, we divide the rental profits of the penthouse among the investors in proportion to their investment. There are a total of 25 shares in this property. So, if you purchase 1 share, you will earn 1/25th of the profits every month. If you purchase 5 shares, you will earn 1/5th of the profits each month. We expect this to be the most profitable rental apartment in Batumi by the end of 2023.
For every share, you get 2 free days per year of personal usage of the entire penthouse along with all the amenities. You can use these days yourself or share them with friends and family. So, if you want 1 week of free vacation each year, all you need to do is purchase 3 or 4 shares. If you wish to use additional days, you get a 20% discount off the current nightly rate.
3% discount for payment in full if you pay the entire purchase price within 7 days of the day you sign the purchase agreement.
If you buy 2 or more shares, you may finance the purchase with up to 12 monthly installments so long as you make an initial payment of $5000 or more within 7 days of the day you sign the purchase agreement.
INCOME (entire penthouse)
EXPENSES (entire penthouse)
Total projected income of $136818 minus total projected expenses of $71829 equals a total projected net profit of $64988 per year for the entire penthouse. This is a total projected net profit of $2600 per share each year.
You may have noticed your only expenses are Management Fees and Taxes. This is because we pay 100% of the expenses from our side and you have ZERO out-of-pocket expenses other than taxes. We pay all cleaning costs, supplies, materials, marketing, staff, cleanings, maintenance, repairs, upgrades, and even property insurance from our part of the income.
We split the revenue 50/50 with investors, but you have ZERO burden of operational expenses, maintenance, or upgrades. 50% of the revenue generated from nightly bookings goes to Ruebush Group. The other 50% is divided among the investors in proportion to each of their investments. Ruebush Group takes 100% of the responsibility for all costs associated with marketing, operating, maintaining, upgrading, and even insuring the hotel.
You may have also noticed the taxes you pay seem quite small. This is because another amazing benefit of this investment is that the income tax on rental income is only 5% in the country of Georgia. So, you not only have a very solid and dependable projected yearly return on investment through rental income, but you keep more of your own money due to very low taxes in our country.
Projected Resale Price Growth
The country of Georgia is a rapidly developing country with a high-growth real estate market. Real estate development has been a leading driver in this emerging market for several years due to double digit growth in tourism numbers each year. Currently Georgia has the lowest real estate values per square meter of any European country. If real estate values rise to a more normal European rate, they will have to more than triple.
From 2013 through today, the average property managed by Ruebush Group has seen the market value rise by nearly 10% per year. Expert opinion is that real estate values in Batumi will rise at a more normal pace of around 5.5% per year for the next several years. The above projected resale price growth is based on this opinion. However, actual experience from 2013 through today has been better.
An excellent benefit of this type of investment is the fact that if you hold your real estate for 3 years or longer, there is ZERO capital gains tax. If you buy one share, many shares, or entire rooms, you can earn dependable income every month, and if you decide to resell the property later, you will pay no capital gains tax on the profits.