Neltah Tshepiso Mosimanegape
1. LAND IS AN ASSET, BUT DEVELOPING IT CAN MAKE IT MORE VALUABLE
It is no secret that developing land can be a costly affair. However, just letting your piece of empty plot go undeveloped may be disadvantageous to you and building your wealth.
2. USE OPM, SHORTHAND FOR OTHER PEOPLE’S MONEY
OPM is a popular way of developing property. For instance, you can find someone who has the financial muscle to develop your property in return for a development section for them. This will ensure that you have your land developed and can now lease it to generate income. In this way, you will not have to sell your property, thus retaining ownership of a section of it.
3. SEEKING FINANCIAL ASSISTANCE FROM FINANCIERS
Approach financial institutions and select the options that work best for you. This is a popular option for property development, the most popular financier being CEDA. Keep in mind the interest rates, length of the repayment period, and ALWAYS READ THE FINE PRINT!!! If you can, engage a financial advisor to choose the correct financing you should go for based on your current balance.
4. ‘METSHELO’/ CROWD FUNDING/COOPS
Batswana already hav a culture of pooling their money for different projects/mandates, especially through metshelo. How about you find like-minded individuals to pool money together to raise funds to develop an empty plot? Again, make sure you seek professional advice from either a property consultant or a financial advisor. Some banks now offer motshelo savings accounts, so you can rest assured that no one can claim that “madi a motshelo a jelwe ke dipeba.” And your money is safely secured in a bank account.
Contact Tempest Gold on 72196950 for property related financing business plans, e.g. CEDA Business Plans and property consultancy services for raising funds professionally through metshelo. We Are Here to Help Batswana Make the Most of their Property Investments and Developments and Create Passive Income.