VIFLIP
Asset Transformation
The fastest capital-recycling strategy in VIG's portfolio. Acquire undervalued residential properties, renovate through the VIG ecosystem, sell at market premium. 6–15 month cycles.
AVG. ANNUAL ROI
25%
Across 13 VIFLIP exits
TARGET IRR
14–18%
Per project, net of fees
CYCLE TIME
6–15 months
Acquisition to exit
MIN. INVESTMENT
€25,000
Project-level SPV structure
The model
Four Steps. Four Sub-Brands. One Exit.
Every VIFLIP project follows the same disciplined sequence. Each step is executed by a dedicated VIG sub-brand — no external contractors, no outsourced sales, no third-party design. The entire margin stays inside the ecosystem.
STEP 01
Acquire
Executed by VISTATE
VISTATE identifies undervalued residential properties using area benchmarks and proprietary market data. Every target is scored against After-Repair Value (ARV) — the projected market price post-renovation. VIG only acquires when the acquisition price + renovation budget sits at minimum 30% below ARV.
Sourcing channels: off-market deals via broker network, distressed sales, estate liquidations, bank-owned properties. Due diligence: title check, structural inspection, cost estimation, comparable sales analysis.
Acquire
VISTATE
→
Design
VIDESIGN
→
Renovate
VIBRIX
→
Sell
VISTATE
Direct Acquisition
Buy → Renovate → Sell
VIG acquires the property outright with investor capital. Full ownership, full control, full upside. The standard VIFLIP model.
Funding
100% equity (investor + VIG co-invest)
Risk Level
Moderate
Return Profile
Highest absolute return
Best For
Properties with clear ARV gap and fast exit potential
What we target
Asset Types
VIFLIP targets five categories of undervalued residential property — each with a distinct risk/return profile and transformation path. The common thread: every asset is acquired below its post-transformation market value, with a clear renovation scope and a defined exit.
Apartments for Total Renovation
Outdated residential units in strong locations — poor condition suppresses price well below district average. Full interior strip-out and rebuild by VIBRIX.
Typical Range
€110K–€180K
Target Margin
25–40%
Cycle Time
4–8 months
Deal Frequency
High
Unfinished Buildings
Construction halted by previous developer — structural shell exists but no finishing, no permits for occupancy. VIG acquires at deep discount to completion value.
Typical Range
€500K–€1M
Target Margin
30–50%
Cycle Time
9–15 months
Deal Frequency
Medium
Old Buildings for Reconstruction
Structurally sound but architecturally obsolete properties. Full-scale reconstruction: new layout, systems, facades. Highest transformation potential.
Typical Range
€700K–€1.5M
Target Margin
35–55%
Cycle Time
8–15 months
Deal Frequency
Low–Medium
Undervalued Properties in Transition Zones
Properties in districts where infrastructure investment or rezoning is in progress. Price reflects current state, not future potential.
Typical Range
€100K–€200K
Target Margin
20–35%
Cycle Time
6–15 months
Deal Frequency
Medium
Bank-Owned & Distressed Assets
Foreclosed properties, estate liquidations, forced sales. Banks and executors prioritize speed over price — creating acquisition windows.
Typical Range
€200K–€2M
Target Margin
30–45%
Cycle Time
6–15 months
Deal Frequency
Variable
Deal selection
The ARV Formula
Every VIFLIP deal is underwritten using After-Repair Value methodology. VIG only acquires when acquisition price plus total project cost sits at minimum 30% below ARV. This margin of safety protects against renovation overruns, market softening, and extended holding periods.
After-Repair Value (ARV)
Market price of the property after renovation, based on comparable sales
€180,000
Acquisition Price
Purchase price of the undervalued property
−€95,000
Renovation Cost
VIBRIX execution cost (materials + labor + management)
−€35,000
Holding Costs
Interest, utilities, insurance, taxes during hold period
−€5,000
Selling Costs
VISTATE commission, legal, closing costs
−€8,000
Gross Profit
ARV − (Acquisition + Renovation + Holding + Selling)
€37,000
The 30% Rule
In the example above, total project cost is €143,000 against an ARV of €180,000 — a 21% margin. VIG would require further price negotiation or scope reduction before committing. The 30% minimum margin is non-negotiable: it is the buffer that protects investor capital under stress scenarios.
Investor advantage
VIFLIP vs. Independent Renovation
An investor could buy and renovate a property independently. Here is why VIG's integrated model delivers better risk-adjusted returns.
| Factor | Independent Investor | VIFLIP (VIG) |
|---|---|---|
| Renovation Execution | Hire external contractors — cost overruns, delays, quality risk | VIBRIX in-house team — fixed budgets, certified quality, penalty-backed timelines |
| Design & Buyer Targeting | Generic renovation based on personal taste | VIDESIGN creates data-driven concepts matched to district buyer profiles |
| Deal Sourcing | Public listings — competitive, often overpriced | VISTATE’s off-market network, AI-assisted ARV screening, broker partnerships |
| Sales & Exit | List with external agent — 3–5% commission, uncertain timeline | VISTATE proprietary channels — pre-marketing starts at 75% renovation progress |
| Capital Requirement | 100% own capital for purchase + renovation + holding | From €25,000 via project-level SPV — VIG co-invests alongside you |
| Risk Management | Individual investor bears all execution + market risk | SPV isolation, ARV-based underwriting, stress-tested at -15% market correction |
Speed as strategy
Why Short Cycles Win
VIFLIP's 6–15 month cycle is not just faster — it is structurally safer. Shorter exposure to market risk, faster capital recycling, and compounding through reinvestment.
6–15 mo
Market Exposure
Less time in market means less vulnerability to price corrections, interest rate changes, or demand shifts. Compare to 3–5 year development cycles.
2–3x
Capital Recycling
The same €100K can complete 2–3 VIFLIP cycles in the time one development project takes. Each cycle compounds returns.
€25K
Entry Point
Lowest entry in VIG’s product range. Project-level SPV means investor capital is isolated — no cross-project contamination. Full transparency on every euro spent.
Risk management
Transparent Risk Framework
| Risk Factor | Probability | Impact | Mitigation |
|---|---|---|---|
| Renovation Overrun | Low | Medium | Fixed-price VIBRIX contracts. Standardized material packages. 10% contingency budget built into every project model. |
| Market Correction Mid-Flip | Low | High | Short cycle (6–15 months) minimizes market exposure. ARV underwriting includes -15% stress test. Rental fallback option on every property. |
| Extended Holding Period | Medium | Medium | Pre-marketing begins at 75% renovation. VISTATE pricing strategy adjusts dynamically. Holding costs modeled for up to 6 months post-completion. |
| Buyer Demand Shift | Low | Medium | VIDESIGN concepts are modular — can pivot finishes/layout to match shifting demand. Multiple buyer segments targeted simultaneously. |
Track record
Proven Results
Fix & Flip Portfolio
13 completed projects across Sofia
Completed
Capital Deployed
€2.43M
Avg Annual ROI
25%
Positive Exits
12/13
Cycle Time
6–15 months
| Project | Capital | Annual ROI |
|---|---|---|
| VIFLIP 01 — Izgrev (Tsarigradsko) | €159K | 15% |
| VIFLIP 02 — Yavorov | €176K | 40% |
| VIFLIP 03 — Mladost 1 | €146K | 5% |
| VIFLIP 04 — Skobelev (Center) | €254K | 23% |
| VIFLIP 05 — Suhata Reka | €89K | 48% |
| VIFLIP 06 — Bulgaria Blvd | €177K | 34% |
| VIFLIP 07 — Bogatiza (Lozenets) | €247K | 23% |
| VIFLIP 08 — Kniaz Boris I | €291K | -1% |
| VIFLIP 10 — Bubotinov (Ivan Vazov) | €196K | 36% |
| VIFLIP 11 — Korab Planina (Lozenets) | €190K | 16% |
| VIFLIP 12 — Geo Milev 114 | €182K | 14% |
| VIFLIP 13 — Geo Milev 35 | €203K | 48% |
| VIFLIP 14 — Ovcha Kupel | €118K | 22% |
VIFLIP Investment Product
Min. Investment
€25,000
Target IRR
14–18%
Lock-Up
6–15 months
Risk Level
Moderate-High
Structure
Project-level SPV
Vertical integration
Full VIG Ecosystem — Every Step In-House
VIFLIP is the only VIG strategy that activates all four operational sub-brands in a single project cycle. This full-chain integration is VIG's competitive moat — intermediary margins are captured at every stage, flowing directly to investor returns.
Margin Capture
On a typical €130K renovation project, VIG's vertical integration recaptures 12–18% of total project cost that would otherwise leak to external architects (5–7%), general contractors (8–12%), and sales agents (3–5%). This margin capture is the structural reason VIFLIP delivers consistently higher returns than independent flippers.
Ready to evaluate the fit?
Continue to instrument and capital sizing — or return to product selection.
Past performance does not guarantee future results. All investments carry risk, including potential loss of capital. This document is for informational purposes only and does not constitute investment advice. VIG does not guarantee any specific rate of return. Realized ROI shown reflects completed historical performance and may not be replicated in future projects. Target IRR of 14–18% represents management estimates. Vaisman Investment Group — vig.capital