Student Hostels

[jeffs]

Hi Folks,

I live in Europe, But I visit Ghana frequently because its my Motherland. But there is a big problem on all university campuses. There is shortage on hostels for students to stay. Even around the campuses they arent enough. So my question is how can I hook up a investor to start building some hostels? Because its a big venture and you can get some huge profits. Since the land and building materials arent all that expensive. And please any suggestions are welcome

Thanks in advance.

[akula]

jeffs, wtf do you mean "hook up with investors". Taking people's money is hardly the equivalent of a casual, backseat-of-the-car romance

anyway..what you wanna do is called property development (PD)

it's a stepped process..about 10 steps in Australia

PD is notoriously difficult because it requires a lot of government approvals, multiple contracts with multiple vendors, severe working capital requirements and a lot of other things

essentially..it's like this...

1) initially, you're gonna have to spend A LOT of money putting together a case persuading the council to give you approval for the development (this means you paying for surveyors, architects, environmental impact statements etc). they might not give you the approval. they might give you the indication that they will, but then they might have a change of heart. so you need to manage this risk.

2) then, provided you have the approval, you need to spend A LOT of money again to market the development and sell some space "off the plan" (you need to do this to get the loan for the construction). you might not be able to do that, and even if you can, the financiers might end up turning their backs on you and refusing the loan you need to fund construction of the units you just sold.

all of these hazards (and there's a lot more) need to be manged, either criminally, or through lawyers (which ever costs less), which might give you an idea of what property development really is. PD is not about actual construction. Builders and contractors do the constructing. Your role as a developer is one of a hardcore hussla who is there to make one person do something based on the performance of another person. It is not a job for the fain hearted.

at the danger of sounding redundant, I'd encourage to spend at least a few months working for a property developer in Ghana

[akula]

Hi Folks,

I live in Europe, But I visit Ghana frequently because its my Motherland. But there is a big problem on all university campuses. There is shortage on hostels for students to stay. Even around the campuses they arent enough. So my question is how can I hook up a investor to start building some hostels? Because its a big venture and you can get some huge profits. Since the land and building materials arent all that expensive. And please any suggestions are welcome

Thanks in advance.

get a job with a relevant property developer

start a conversation with the relevant universities about their student housing problem