On friday I met a client who has a prime piece of land that he wants to develop apartments both for sale and rent…but he does not have the means to fund the project . His proposal was since I am in the industry I should do the design and also find a way to fund the project… For that I will get some equity. My questions is aside from banks and real estate companies how else can I get funding??? FYI after doing a proposal the cost construction is Btw 120m-140m.
Friends and family
develop the construction plans and proposal then fundraise
The drawings are almost ready for approval the cost of all the approvals will be in millions i don’t have that kind of money hence reason am avoiding banks.
There are numerous Venture capital firms in town, however one should be careful when dealing with VCs. @ Okiya, @ Ice cube can point you to a number of firms
Don’t maximize on getting rich with the first deal, but on learning the ropes and building your profile.
Approach somali MPs and prominent businessmen
Am just trying to get a deal that is favorable for everyone who will be involved… there potential of making big money here but making a name is what am after. a silent investor would be a dream come true.
Off plan purchase is one way, have a definite implementation time table with achievable milestones when purchaser can top up their deposits towards the purchase of housing units in the project.
approach salvar kirs son