I plan to start out with rentals in 2 years' time because I wish to do my first investment free of debt.Looking for land now and then will proceed to the next step.However from reading the Beginner's guide,the whole business is a lot more complicated than I expected especially with building up the team.
Lender · TX · Member since 2018 · 936 posts · 713 votes
8y
@Anyango Sylivia I do not know much about the east African real estate market, and by that I mean I know absolutely nothing. It all comes down to how much is the land, how much is the build out cost and what rents will be. You will also need to plan for extra expenses when you first open as it may take awhile to fill the units you build. I would check land laws and make sure your city, region, country has strong landlord laws and land ownership laws. As far as building your team, you need to see what you will need. I am not sure of who would be required to close deals.
The best way to push forward, research, then talk with people. Talk with everyone. Let them know what you would like to do. Maybe they are someone they know has already done it. Or maybe they know someone who deals with permitting, construction, etc. The power of networking is huge when you start out.
Best of luck to you and remember to persevere through the struggles. That is where fortune is made.