Housefund.com.gh is an affordable housing financing platform. The platform connects individuals and corporate bodies offering money (as a loan) to support housing projects (that have good prospects) in exchange for returns on their money.
Basically, projects are published and prospective investors are invited to use their money to back the projects. All the costs and projected profit margins are stated in the project details. When the total expected money for the project is realized the project will begin and monthly updates will be given to all those who invested in that particular project. Once a project is rented or sold, investors get their capital back with agreed interest. The interest may be paid per quarter but the principal will be paid with the last interest payment.
Generally, the investment opportunities (in projects) published on housefund.com.gh consists in the granting of participatory loans (by individuals or corporate entities) to Housefunder. All agreements will be signed between an Investor and Housefunder. All projects are executed by Rentchamber Group Limited and its partners.
The projects (investment opportunities) published on housefund.com.gh consists in the development, building or acquisition of real estate assets. Usually when an asset not developed by us is acquired (such as an uncompleted or defective building), the acquired real estate asset will have to be fully refurbished, in order to increase the value and profitability. Such assets acquired by us will be thoroughly scrutinized and all the legal and technical due diligence done.
Before a project is published on, the following steps are taken:
- All the legal documentation is done or acquired: documents such as titles, indentures, certificates, insurance, MMDA permits, agreements etc are either done (in the case of a new property development) or acquired in the case of an existing structure such as an uncompleted building.
In the case of Rental Properties (that are to be leased and let on monthly basis) and commercial spaces, evaluations are done to ascertain the viability of the property. Also, all documentation regarding ownership of the property is done.
- Financial and Technical Scrutiny:
- A market study is carried out to ascertain the viability of the asset with regard to location and demand.
- Concise economic and financial projection is done for the project in very strictly objective and conservation terms.
- These financial and technical assessments are done by external consultants.