If you are an entrepreneur with a flair and passion for real estate- especially the construction or refurbishing of old buildings, you could approach a property development finance lender to help fund your project. These companies usually borrow money from the markets and invest in entrepreneurs and help them finance their commercial property projects.
Many companies offer Commercial Development Finance. How do you ensure that you pick the right one? You could consider the following factors before selecting a lender to fund your project.
Testimonials – The best reviews are not the ones that are found on the internet but are ones that come from word of mouth. Speak to entrepreneurs who have already taken funding from the company you are considering. They will be able to tell you in detail about the positives and the pain points.
Experience – Consider the age of the company when you are selecting property development finance lenders south africa. A company with more experience will also have more knowledge and expertise and will be able to fund your project better than a newbie company.
Staff – Your commercial development loan provider should be well equipped with the latest technology as well as experts. They should be able to come on board at any stage of the project and merge seamlessly into the flow.
Follow a relationship-based approach – Look for a company that puts you first. The company should not be interested in just financial gains. They should support you with their knowledge, expertise, and skills from the start to the end of the project. They should know the area and offer guidance and risk management as required. They should support you right from the negotiation process, the construction and right up to the rent-ups.
Versatility – Look for a commercial development loan provider who offers versatility in services. They should ideally be offering finance for land purchase south africa, for house construction, for conversion of commercial space into residential space etc.
Easy Application – While this may seem trivial, it is important. Some companies take a long while to process the loan application and also have a mountain of paperwork to be submitted. While checking up on commercial development loan providers, do look up their application and paperwork procedures in detail. This can save you a lot of time and headaches in the later stages.
The lack of the correct funding can be frustrating when you want to build your property portfolio in South Africa, especially if you are really passionate about construction or refurbishing of property to make affordable living rental spaces. The good news is that there are multiple commercial property development funding companies that can guide you fulfil your dream project. Ensure that you do sufficient research, plan well and then select a loan provider.
TUHF Group of Companies 