The Bricks and Mortar Entrepreneur
He buys real estate properties, usually apartments in semi-central areas of Milan (for now), renovates them, and then resells them for a higher value. In fact, the company Casavo he founded acts as a financial intermediary, something that is kind of unique Italian real estate sector. We are talking about alumnus Giorgio Tinacci, Casovo's 26-year-old co-founder and managing director, who holds a Bocconi undergraduate degree in Business Administration and a Bocconi graduate degree in International Management.
He says he's satisfied with the first few months of the company's life: "We officially started in October 2017, shortly after I left Boston Consulting Group, and so far we have raised €9.4 million in capital, part equity, part debt". The ambition to become an entrepreneur is what pushed Giorgio to throw himself into this adventure, and made him quit a safe job in a corporation: "At BCG I had a pre-set career, but I chose to take the risk and throw myself in this endeavor body and soul, something that I have not regretted it at all." Casavo, which represents a more attractive professional opportunity compared to more traditional careers in consulting or management, currently employs a team of a dozen people, all under 30 years of age, and the company's expansion has just started.
Giorgio explains how they operate: «On the acquisitions side, we have two channels through which we operate; one is real estate agencies that collaborate with us and spot interesting properties; the other is individuals, who can access our portal, enter the data of their property, and receive an offer to purchase, after the assessment process is made. On the sales side, we rely on partner agencies, but we also propose restructuring projects and offer mortgage packages via credit intermediaries».
So far, Casavo has acquired ten real estate properties, five of which have been resold already. And the Bocconi alum does not intend to stop there. "Ours is a business model that works very well for metropolitan areas", Giorgio argues, "the goal for the end of 2018 is to enter the Rome real estate market. For other cities, we must evaluate calmly ".