All Forum Posts by: Bhekizwe M.

I'll be honest.I am yet to buy my first property but i probably appreciate capital formation from saving from the household budget seeing it go towards down payments etc.i know also understand a little better :private money lending, syndication of a deal over and above wholesaling, lease options etc and other creative finance options.

One successful real estate investor said "Adversity is a necessary panacrea of success." Technically i am a newbie, but i have a bit of experience with cold calling large numbers to get appointments from my network marketing days

PARALYSIS BY ANALYSIS??

...i think so....i know some people with less books read and less podcasts listened to, who just went for it, probably with an actual mentor to guide them??

Education by reading books and listening to podcasts is necessary....the market keeps changing hence we need to stay up to date on trends, data so that we adjust where necessary....but action is crucial too...making offers...seeking new private capital sources, motivated sellers, cash buyers etc

Thanks Brandon for all the podcasts and the role you played to bring out value for listeners.i enjoyed them and now realize even more the commitment it took to put together each podcast

All the best

...continued

My late father grew up in the rural areas where that traditional hut is usually found.We would visit grandma usually on Easter, Christmas.The homestead usually has four-five huts spaced twenty metres apart in a homestead setup.One hut is a big Kitchen where the family gathers at meal time, the other huts are bedrooms for the parents, boys, girls etc...then one other could be a guestroom as space should a visitor come

The huts are made from logs for the walls, with mud for plastering, then thatch for roofing supported by some poles.Usually fifty metres away is cattle kraal and goat pen.Milking of cows or goats sometimes would happen early morning

These rural areas also know as reserves unfortunately most were in poor /marginal agricultural areas hence a rural to urban migration has occurred.

In Urban areas the land would be most owned by the council.Some former farms where annexed as the city grew.So the the Urban Council which is the local government owns a lot of land and residents register on the housing waiting list.Over time the council flights a tender for a developer to service some of its lands for the provision of houses for those on the waiting list

By service that is add roads, water connection, drainage and sewer pipeline and connect to electrical grid.The house lots are most divided into lots 200 -300square metres or whatever ideal size.The aim is to provide affordable housing for those on the register.The house built will be inspected and approved by council at foundation, roof level and finally the council issues a certificate of occupancy when house is complete and inspected as safe and up to standard

Now specifically to your questions

1) Yes there are some developers who not only service the land but also build some of the houses.I don't know if they rent these out but i know they sell them, sometimes with terms.Affordable houses have a going rate of USD20/room/month at the minimum.Brick wall with asbestos roofing

2) The renter/buyers of these type of house could sometimes be a civil servant (i.e teachers, nurses, policemen etc), self-employed tradespeople, diaspora (those working outside the country desirous to invest back home)

3)Anything of value is their salary, profits of their small business

4) Hard to build? Yes due to the cost hence the barrier.The absence of conventional financing means mostly purchases here are cash or some people rent until they save enough to buy their own unit

In conclusion, the traditional hut is mostly found in rural areas NOT urban areas and the wild animals are in the safari areas for those communities.In Urban area, affordable housing is the more common occurrence for low to moderate income earners.Brick wall with asbestos roofing

@Scott Mac Thank You for your question

I am indeed from Africa, the Southern part having lived there for decades.I don't know about other African countries, having only been to South Africa, next door. that is the extent of my exposure outside. I grew up in an Urban area with City status most of my life but my father grew up in rural areas (Tribal Trust Land) where such "free" land is available.However there is a local chief, so you don't just go set up.Only those with family roots and generations tend to occupy those lands.

Its mostly agriculture with grazing for livestock and/or crop production.Other resources like wild animals/game as shown near that hut are found in areas kept specifically wild for sport hunters/photographic safaris (C.A.M.P.F.I.R.E) for the benefit for that community.These areas are portions of that Tribal Trust Land set aside for that, for the benefit of the community

P.S i'll continue tommorow

Thank you for sharing.Great to achieve one's goals...inspiring

@Shiloh Lundahl Thank You for sharing,

That is a beautiful property...dream stuff come true.I have a vision board myself but am yet to manifest the larger ticket items

@ Wade Lawal. Its great to hear of developments...please keep us updated

Not all of Africa is corruption.Some are just decent folks who want to get on with their lives.Africa has immerse potential like many other areas around the world.Professions are there (lawyers, estate agents, bankers, first time home buyers seeking affordable housing etc)

Hello @Kevin Antoine

I'm on the same path as you.I'll just share what i believe so far are the necessary document to show potential private money lender

-Private Money Lender Guide-A brochure that shows who you are,history, what is private money and the security offered, benefits,your contacts, customer testimonials, before and after picture of the renovation

-Repair Bill Of Quantities with Scope of Work-materials needed to renovate the property and scope of work for the contractor

-Estate Agent's opinion of value- when renovated

-Purchase and Sale Agreement of the property

P.S i was watching and listening to a video of Joe Fairless on syndication, where is suggested also consider asking potential investor to sign a Non-Disclosure/Non compete agreement with this potential investor?