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
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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.
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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.
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approach salvar kirs son