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Harvey Real Estate Investments is a crowdfund real estate investment
company that specifically operate on we (lessee) renting apartments, homes,
villa, etc from landlords (lessors) in strategic cities and then going
further to rent them out on Airbnb, booking.com, travela, etc thereby
making profits from the rental services for our investors. In a simple way
to understand, we give investors the opportunity to contribute funds and
hand over to us, then we find good homes, apartments that are up for rent
and pay outrightly for at least 1 year rent and then furnish and list the
properties on secondary markets where people rent from us per night at a
higher rate compared to what we rented it for, thereby generating profits
for us which is then shared across investors of our company.
As we all know, It takes more capital to invest in crowdfunded real estate, and unlike public REITs where you can easily buy or sell shares, once you make your investment you may not be able to touch your capital until the project is completed. Moreover, there's risk that the developer doesn't execute, and you can lose money. This is why we have chosen to capitalise on this part of real estate because it is safer and guarantees a good returns on investments.
Below is a short story of how we came up with this idea:
“A few years ago my girlfriend and I took a year off and went on a journey around the world. And because of the lack of income during that time, our budget was really tight. Hence we used Airbnb apartments A LOT, instead of booking expensive hotels or uncomfortable hostels. And when we came back we tried to think of what we had learned and how we could change our lives in the future. We thought of all the people we had met including our Airbnb hosts. Our hosts were nice, middle class people. They were very hospitable but had no special skills or knowledge. Just regular people, like us.
And then we thought: “Let’s try and start a side-hustle, an Airbnb business. Let’s find an apartment and rent it out on Airbnb. It can’t be that difficult.” Oh boy, were we wrong. We rented an apartment, we bought furniture and decorations, and we created our profile. We had some good guests and some bad guests but overall the business was going well. Within the first month we became ‘Superhosts’ and booked out all rooms (If you want to find out how we did it, check out my other article) . It was everything but easy, but we made it. Until we ran into some issues with the neighbors threatening to sue us, so we had to close shop after just one and a half months.
Now, fast forward to a few months back, I get a call from a former customer. He said he had a friend who would need a website for renting out apartments on Airbnb (I work as a freelance web designer). Why he would need a website for THAT was beyond my understanding. Anyways, I asked my customer if he needed professional pictures also. He said ‘Yes’. So my girlfriend, who is a photographer, and I went up to his house. It was a beautiful villa with 6 apartments and a single guest-house. We met with the customer, discussed the details and took the pictures. The guy was nice, so afterwards we sat down with him and gave him some tips on how to run an Airbnb. We told him about our struggles and our achievements, about how you need to communicate constantly with the guests (preferably in English, the owner couldn’t speak English). And he listened and eventually said ‘I thought it wouldn’t be that difficult. You just set it up and rent it out. Easy! ’. I had to laugh at myself at that moment because that’s the same thing I had said just a year ago. He wasn’t aware of the work that was just coming up. He added. ‘An acquaintance of mine offered to manage the Airbnb for 40% of the revenue, but that’s just crazy’. So in response, as a joke, I told him that I would do it for half of that. We all laughed, but I saw the worrisome expression on his face.
After we left, a few days passed until the customer called me again.
He told me he actually didn´t need a website for Airbnb ( ‘Duh’ ), just the pictures and the texts. And then he asked me if I had been serious about the offer to manage the Airbnb for him. I thought about it and said yes.
So that’s how I got my first apartment listings on Airbnb without owning, renting or investing any of my own money. I organized a cleaning lady, set up the Airbnb profile and the self-check-in systems. My main job is communicating via smartphone with the customer (home-owner), the cleaning lady and all the guests. It takes about 15 min — 2 hours per day (depending on how many bookings come in). This one job gets me up to 1500€ per month
Over the last few months, I found out that there are plenty of investors who buy or even just rent apartments, houses and even whole apartment buildings for the purpose of renting it out on Airbnb. But they are ‘investors’, not managers. Investors want to invest money and get healthy returns on them, and that’s where I or you or anyone with decent management skills comes into play.”
Questions that you might want to ask from the Short story :
How are my sure that your company will not be running into troubles renting out spaces that neighbours may not like to be used as a short let ?
Answer: Before we rent any space to be used for this business, we make sure to ask the landlord and the neighbours of their opinion on what we want to use the space for before paying for it. We also get the landlord to sign an agreement that he is aware of what we intend to use the space for the period of rental. Also, our properties have different rules of how people that rent them can use them.
Question: What happens if people do not rent the space for a long time?
Answer: Our rentals are usually in very strategic cities and places that both have high chances of people wanting to visit the area. We understand the business very well and usually make inquiries of how the demand of properties around the the place is by asking owners of already existing properties.
Knowing fully well that a lot of people live in various parts of the world and would like to do this type of business in other parts of the world brings limitations to them, therefore we decided to make it easier for people that want to run this type of business to invest through us while we carry out the management of the business. We have all the skills, knowledge and experience that is required to properly and strategically rent and manage properties in a way that would most definitely be profitable for anyone who wishes to trust us enough to make an investment on the platform. Using cutting-edge business management procedures and experience in rental services , we ensure that not one of our properties stay past 2 nights without being booked meaning that it is almost guaranteed that both the money we spent on renting a space, furnishing and maintaining a property in pur possession is made back in less than 5 months of operation, leaving us funds for the remaining 7 months of the year as a take home profit. Our main places of focus for 2022 is UAE (especially Dubai), Islands, places of Tourist attractions, and also Qatar as regards to the upcoming 2022 World Cup. We also have properties in European cities. So far as there is live in the place, our agents are made to look out for opportunities based on our criteria and proper evaluations.