OPENCORP PIONEERS A NEW WAY TO INVEST IN PROPERTY
Written on the 6 July 2016 by Laura Daquino
OPENCORP lets property investors buy into blue chip suburbs without paying top dollar.
"Investors get to choose how much of their money goes into each of our developments - that's obviously very unique.
"Some projects will exceed the original forecast and some will come under that. Our worst performing project, however, was 8.9 per cent per annum, less than we forecasted but considered a very high return for many people."
"Our minimum investment is $10,000 but our average is about $43,000. We have about 650 investors on our register across various funds and projects, and we offer wholesale investment opportunities too, but the real focus for us at the moment is that retail investor space."
OpenCorp employs more than 50 staff across Melbourne and Brisbane primarily in accounts, market analytics and fund management.
In May this year on its home turf, OpenCorp also launched and has since closed a fund for a 70-apartment development at Toorak Road in Hawthorn East (pictured below left).
"We are always looking at population projections and Victoria, at the moment, is growing faster than any other state with around 100,000 new residents last year. There's a shortage in the East so you aren't going to see the same impact in the West in terms of price growth."
Lewison says the team is keeping an eye on Sydney and the Gold Coast.