Real estate crowdfunding company to invest $ 7.5 million in hotel projects in Mexico
Monific, a real estate crowdfunding company, is investing around $ 7.5 million in eight hotel projects, whose potential sites include Tulum and Cozumel in Quintana Roo, San Miguel Allende in Guanajuato and Puerto Escondido in Oaxaca, according to the Mexico News Daily .
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“In 2020 alone, we funded over 40 million pesos for four projects,” said Monific. “The idea is to reach 150 million in funds in 2021 and have seven or eight new opportunities.”
The company manages four boutique properties Tulum, Bacalar and Playa del Carmen.
Monific allows its investors to make investments of around $ 50 to $ 75,000 in the business, potentially producing annual returns of between 11 and 16%.
The company said its investor count has grown to 10,000 lately, which has boosted confidence in expanding its reach.
He also noted that his four existing properties had not been negatively affected by the pandemic, as many guests extended their stay at the hotel to several months due to “blockade restrictions.”