Project 1 is a lifestyle development for people at retirement age situated at the south of Boschenmeer Golf Estate in the Paarl with own title rights, section title and frail care units. The land is zoned and re-zoning for our development has been finalised.
Project 2 is in the Free State, a booming City for the future, 2 diamond mines opened there recently and 52 prospecting rights have been given out to different companies. There are no rental units available currently. I will be building 31 town houses in 3 phases and the price for a 3 bedroom town house in a security development starts at R695 000. Everything is finalised and the construction can start in October. Phase 1 of 11 units has been sold out.
The investor’s monies will be secure. The investor will pay directly into an attorney managed trust that is in favour of the investor, monitoring every transaction. The investor will have security on his capital in the form an asset worth more than the invested monies upon completion of phase one.
The investor’s monies will only pay out in small phases to the builder. The builder will build the first phase, thus creating an asset/security for the investor. We will have independent quality control in place by inspecting each phase before the monies are paid for the next phase.
We are looking for R1.5 mil in total for each project. The monies are paid directly to the Attorney’s trust. The transferring Attorney will be in favour of the investor. He will pay the capital plus the return directly back to the investor on the transfer of the property to the name of the buyer.
Thus we as the developer will only then receive our profits after the investors have received their return. There will be an acknowledgement of debt signed and the transferring attorney will provide a letter of undertaking to the investor for repayment of the investment on transfer of the property.
I am also able to secure finance for those able to provide an asset, the same principles and returns will apply as if it was invested monies.
For more information - Email: msi@mweb.co.zaStatistics: Posted by Martin Steenberg — Mon Aug 29, 2011 3:24 pm
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