FLYT
Can ’ t get a Home Loan ? Find a Partner " In selling Flyt Select we quickly recognised that a fair number of taxpayers , although in the higher tax brackets , were reluctant or unable to get a home loan of their own ( think existing cashflow commitment such as school fees , car repayments , family home , you get the picture ). This conundrum birthed the concept of what is now the fully-fledged , R150million strong , Flyt Partnership Fund ."
The premise of the partnership fund is simple :
• You , the investor , bring 35 % of the investment to the table
• Flyt brings the balance ( 65 %) as a longterm loan ( Flyt acts as the bank )
• You get the benefit of 100 % as a tax deduction ( getting up to 45 % back as a refund )
• The total 100 % goes towards buying properties that are managed in the fund
• Flyt and the investor share the profits on sale of the property in 5 years ’ time .
The net effect is that the investors simply bring their tax to the table as their contribution , tax that they would ordinarily never be able to access , and use it to invest alongside Flyt as an aligned partner in quality hospitality property investments
Don ’ t have your 35 % upfront ? Don ’ t worry , you can borrow it from Flyt and repay it from your tax refund .
So Kill the Suspense , What ’ s on Offer ? Upper East Side Direct ownership in Upper East Side , a mixed-use precinct on Brickfield Road , Salt River , is now on offer to property investors . 183 studio and one-bedroom sectional title units are available through the Flyt
Select Fund , from R734 000 to R3 534 000 . Guaranteed Income Investors will also enjoy a 5-year guaranteed return of 7.5 % ( after all property-related expenses ). The first three years is underpinned by a head lease with Spear Reit Limited , with years 4-5 being guaranteed by Anuva Investments . The units will continue to be fully managed by Multi Rooms Management . Owners will also benefit from seven days own use of their unit at up to 30 % discount on accommodation rates throughout the year .
“ Section 12J is an incentive created to boost much created job opportunities in SA .”
One Thibault , the tallest residential development in Cape Town This internationally award-winning modernist masterpiece dares to stand apart , ascending diagonally into the city skyline , carving out fresh perspectives of the Harbour to the east and Table Mountain to the west .
Flyt Property Investment presents the unique opportunity to invest in One Thibault through the Flyt Select Fund , offering bespoke luxury apartments ranging in size from floors 15 through 20 , starting from R895 000 .
Serviced Apartments The 180 serviced apartments are fully managed by an on-site team , Wink Aparthotels . Investors have access to a host of benefits , including :
• Furnished apartments at no additional cost
• Quality tenants who ‘ tick all the boxes ’
• Lower financial risk
SA Real Estate Investor Magazine MAY 2021 9