RESIDENTIAL
That has been our mission at uMaStandi for almost ten years and continues to this day . From its beginnings as a pilot project in Soweto , it has expanded in scope to enable entrepreneurs to create sustainable , rent-based businesses in Gauteng , KwaZulu Natal , Western Cape and the Eastern Cape . Our aim is to foster successful property entrepreneurship , along with doing our part to stimulate local economic growth .
While development can be immensely rewarding , it is not simple . For any property entrepreneur to become a successful developer , education is key . They need to have knowledge of basic finance principles , construction and property management , which is why we offer a property training course , run annually .
As with starting any business , property entrepreneurs must also have some equity . For any commercial investment property transactions , there is a loan portion and a portion that the investor provides in the form of cash . The days of receiving 100 % loans are long gone . Instead , investors must provide a portion in unencumbered cash that constitutes as much of their own savings as possible to create equity in a project .
Like every client , so too is every project different . Those beginning down this path need to know that if their project is not viable and doesn ’ t check our boxes for being a solid investment , then we won ’ t finance it . Our overarching aim as a specialist property financier committed to inclusive growth and creating real development impact is to jointly grow and have a long-term relationship with the entrepreneurs we work with , while also addressing the urgent need for affordable housing .
uMaStandi client , Bulali Mdontsane ’ s property Singleton Heights .
54 REI MAGAZINE AUGUST