The property has been evaluated to 246000 euros and has been fully funded. The renovation plan has begun at the beginning of June and is planned to finish by the end of September. The project is at the stage of architectural designs. The funding will suffice to cover all the expenses, starting from due diligence to costs related to the sale of the property. The primary objective is to proceed to a sale as soon as possible. The price of the apartment raises gradually according to the progress of the renovation and is expected to reach the ceiling of 295750 euros, at the end of September. Based on the business plan, the apartment will be sold furnished. Due to the high demand for renovated properties around the area, we anticipate to achieve a sale within 3-4 months after the end of the renovation. In the event of not suceeding a sale until the end of September, the apartment will be used for short-term tenancy leasing. The daily rate is estimated to fall within the range of 140-170 euros, for 25 expected leasing days per month. The management fee is estimated to 20%, which is tax deductable plus an additional 25% for operational expenses (such as utilities etc) and tax. Hence, the net expected income will approximate the amount of 2131 euros per month. Based our projections, the project will generate a gross income of 298525 euros in total.