Fix & Flip
Properties with potential, renovated with costs and deadlines under control, sold at a margin.
- Sourcing and feasibility analysis
- End-to-end construction management
- Sale and realised capital gain
We give substance to every investment.
We buy, renovate and make property profitable across the Porto district — Fix & Flip, long-term rentals and short-term lets. From the first number to the key in the door.
Services
Four ways to make capital work.
Every project starts with rigorous analysis and ends in a profitable operation. We pick the right strategy for each property.
Long-term Rentals
Stable, recurring income, with the property prepared and the operation tracked month by month.
- Property preparation and value-add
- Contracts and tenant management
- Income and expense control
Short-term Rentals
Short-term returns in high-demand areas, focused on the net margin.
- Licensing and setup
- Operations and booking management
- Occupancy and revenue optimisation
Construction & Renovation
Planning, budgeting and execution with schedule and costs under control.
- Planning and Gantt scheduling
- Budget vs. actual, materials and services
- Trade coordination
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01
AnalysisFeasibility, scenarios and expected return before we commit.
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02
AcquisitionWe only buy when the numbers add up.
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03
RenovationWorks with budget, deadlines and quality under control.
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04
OperationSale, rental or short-term let — with cashflow in plain sight.
Portfolio
Projects with a beginning, a middle and an end.
We renovate forgotten spaces and turn them into homes to live in. Here are the first ones — more on the way.
Marques Junior Warehouse
From a derelict warehouse to a high-end apartment. Full renovation with architecture designed from scratch.
See the transformation
Severiano Store
Conversion of a store into a modern apartment, with optimised layout and contemporary finishes.
See the transformation
Coming soon
Your project, here.
We are constantly reviewing new properties. Have one with potential? Get in touch →
No published projects in this category yet — get in touch to be the first to know.
Projects in progress. The images are 3D simulations of the final result; we will publish real photographs and figures as each project is completed.
Property owners
Do you own a property you want to sell?
Substância buys directly across the Porto district. Fast valuation, a no-obligation offer and a deed without delays — even if the property needs work.
Selling? Download our free guide “10 questions to ask before selling your home” (PDF, in Portuguese).
Investors & Partnerships
Invest with us.
We open selected projects to investors and capital partners. We handle sourcing, construction and operations; the investor follows everything with full transparency — real numbers, at every stage.
- Co-investment in specific projects Each partnership is tied to one property and a specific business plan, with a defined entry and exit.
- Transparent reporting Budget vs. actual, construction schedule and cashflow shared throughout the project.
- Aligned interests We invest alongside our partners. We only win when the project wins.
Substância is not a financial intermediary and does not provide investment advice. The information on this page is not a recommendation; any investment carries risk, including loss of capital. Each opportunity is presented individually, with its specific risks.
About us
Why we are called Substância.
Because it is the opposite of smoke. Real estate is full of vague promises, round numbers and “once-in-a-lifetime opportunities”. We prefer the other path: analysis before enthusiasm, real numbers instead of optimistic estimates, and the same transparency with ourselves that we have with those who trust us.
Substância was created to invest in property the way an engineer builds a bridge — with method, safety margins and responsibility for what you sign. We buy, renovate and operate each project end to end, with our own management system where every euro has a known address.
- Transparency — clear numbers at every stage, for partners and owners.
- Method — a repeatable process, from sourcing to exit.
- Commitment — a single person accountable, from start to finish.
Francisco Almeida Gonçalves
Managing Director
“I only offer others the investments I would make — and do make — with my own capital.”
Talk to me directly →FAQ
Before we talk.
What condition do the properties need to be in?
Almost any condition — properties needing work are exactly where we create the most value. Inherited homes, vacant or dated properties are all welcome.
Do you charge the seller a commission?
No. We buy directly for our own portfolio, so there are no agency commissions or hidden costs for those who sell to us.
How long until I receive an offer?
After visiting the property and completing our analysis, we usually present an offer within a few days — always with no obligation on your side.
Is Substância an estate agency?
No. We do not do estate agency work: we invest directly — we buy, renovate and operate properties on our own account or in partnership with investors.
How does co-investment work?
Each partnership is tied to a specific project, with a business plan, a formal legal framework and regular reporting. We always start with a conversation to understand your profile and present a suitable opportunity.
What is the minimum investment?
It depends on the project. Get in touch: we present the specific terms of each opportunity before any decision.
What information do I receive before investing?
The feasibility analysis, the construction budget, the return scenarios and the legal framework of the partnership — all in writing, before any commitment.
Which areas do you buy in?
We operate across the whole Porto district, focusing on Gondomar, Porto, Vila Nova de Gaia, Maia, Matosinhos and Valongo. If your property is in another municipality in the district, get in touch anyway — we review case by case.
How do I track my investment?
With regular reporting: budget vs. actual, construction schedule and project cashflow. Total transparency is the basis of our model.
Contact
Let's talk.
Do you have a property, land or capital to invest? Tell us what you are looking for and we will reply with an initial analysis, no strings attached.
Need help?
- Who repliesFrancisco Almeida Gonçalves — Managing Director
- Phone+351 933 556 925
- WhatsAppStart a chat
- Emailfalmeida@substancia.pt
- LocationPorto district, Portugal
We reply to every request within one business day.
