DiversyFund announced its most recent crowdfunding real estate investment offering today. It is an equity investment offering for a single family residence located in the heart of La Jolla, California. Furthermore, the Mavrix Group, a privately held real estate development firm is the Operator. Additionally, they specialize in investments and the transformation of properties.
Erin Wicomb and Joseph Ferrigno, visionaries of The Mavrix Group, have successfully flipped over 50 high luxury properties since inception. Even more so, they manage real estate holdings that value at over $10MM. “We are excited to be partnering with this team and taking part in this investment opportunity,” Craig Cecilio says, DiversyFund’s Founder and CEO. And continues with, “The property is in a strong economic market that shows decades of sustainable growth. It’s a slam dunk.”
Funding the La Jolla, CA Offering
Through DiversyFund’s crowdfunding platform, The Mavrix Group was able to raise $1.055 million. With the raised funds, they intend to renovate a 6 bed / 7.5 bath property that sits on a 20,495 Sq ft. lot in La Jolla, CA. Investors will receive a preferred return and a percentage of the profits expected to exceed 20%.
The Mavrix Group has been a long time referral partner of DiversyFund’s. With over a decade of experience in real estate investing, DiversyFund launched in January of 2014. Since their inception, their vision has been to create an easier process for accredited investors to review live investment offerings. Even more so, to provide new individual and institutional investors high-quality real estate investments to invest into.