IT-GOA-001 — Genova Candidate
Placeholder dossier for the next research phase: Genova.
Genova Italy Future
Executive Summary
- IT-GOA-001 is a Genova candidate dossier, not a buy recommendation. It must remain “yellow” until title, condominium rules, building condition, operator quote, and realistic net ROI are evidenced.
- Decision rule: no deposit before legal-title review, building checklist, and rental-compliance path are complete.
- The trip objective is to convert unknowns into evidence: photos, documents, operator pricing, comparable listings, and red flags.
P1 Insight
P1 Insight. A candidate becomes investable only when it survives boring checks. If the file is exciting but document-light, classify it as a learning asset, not a transaction.
Asset facts needed
| Item | Status | Evidence required |
|---|---|---|
| Address and floor | Open | Listing, cadastral plan, building visit. |
| Seller identity and authority | Open | ID/company docs, mandate, notary pre-check. |
| Legal title | Open | Deed, cadastral consistency, mortgage/encumbrance statement, notary review. |
| Condominium position | Open | House rules, recent minutes, charges, arrears, extraordinary works. |
| Rental operation | Open | AAUT/CITRA/CIN path, city-tax obligations, operator quote. |
Underwriting assumptions to fill on site
- Purchase price, agency fee, notary/tax estimate, immediate capex, furnishing replacement, and first-year reserve.
- Base, downside, and stress ADR/occupancy in the ROI Model.
- Management fee, cleaning fee treatment, linen cost, maintenance call-out cost, platform mix, and tourist-tax workflow.
- Exit buyer: investor, local resident, student/worker landlord, or lifestyle buyer.
Candidate inspection checklist
- Run the Building Check before discussing price.
- Photograph every ceiling corner, window reveal, bathroom wall, meter, boiler, electrical panel, and common area.
- Test water pressure, drainage smell, windows, shutters, heating/cooling, Wi-Fi options, and phone signal.
- Ask for the condominium administrator contact and permission to request charge/works information.
Go / no-go criteria
- Go to negotiation: clean legal path, acceptable building, written operating path, conservative net yield, and manageable capex.
- Hold: attractive price but missing documents or operator quote.
- No-go: title ambiguity, rental restriction, severe moisture/structure concern, unfunded extraordinary works, unsafe route, or ROI dependent on best-case assumptions.
Sources
- Use Regione Liguria AAUT/CITRA/CIN guidance and Comune di Genova IDS guidance for rental-compliance assumptions.
- Use Agenzia delle Entrate purchase-tax guidance for tax placeholders, then confirm with the notary.