Property Fifty Five
Good day, you are here because you have taken interest in my request of a few people to come together and purchase property and to own it as a group.
To make it easy, i whipped up a quick website to answer people's questions as i was receiving phone calls and everyone was asking the same questions
Below i will explain the idea, nothing is concrete as i literally thought of actually doing this today (Aug 14th 2019), after it was loooming for quite a while,I have heard and seen people doing this sort of thing
I am also not fully aware of what it takes to pull this off, after i see there is general interest i will dive into deeper research etc
- We select a date, first round of investment. Probably sometime in the first quarter of 2020
- Before the above choosen date, we will have people in the group to submit properties they think we should buy. The property can be anywhere in South Africa.
- As we build up to the day we invest, we will run voting, the vote will be for which property we should buy.
- At this point we should all have 50k minimum ready for the group purchase.
- We now have a property voted for, and everyone is ready with their money.
- We formalize by contacting the agent, negotiate for the property, we all sign off that we are happy with the deal and the property has undergoes quality assurance.
- We then request an offer to purchase the property.
- We gather our money and pay for the prorperty all together.
- We decide on which agency to use for the property rental, they will manage the property and make sure rental income and maintenance of the property is solid.
- Rental income, is either split up to accounts or kept in one account by a property management company and people get return of
investment as they wish or per decided periods, giving us a chance for gaining interest over time
if you are still interested, please register an account on this site, i will be sending out a mailer in 2 weeks,
Join the Group
explaining how many people we have and suggest how we will move forward. The website will be your point of information etc.