We are a registered Company called Ocean Echo Properties 362 CC that can generally trade in different fields but we are operating as bidders on behalf of Investors at Public Sheriff Auctions for Immovable Properties. This is a guaranteed, viable market.
Due to the fact that as bidders for Investors we are well informed and successful in this business, we would like to start investing in our own properties, on a buying and selling basis. Initially, we need capital for this venture, which is with great potential and has great turn-over time of stock. It will place us in a position not just to earn commission on bidding but to get share in the profit of property sales as well.
Residential Properties are usually sold for 30-70% below market value at auctions on a weekly basis in all areas. We are operating in the Western Cape, where we live and obviously know the property market. Due to the property market that is still not stable we target low budget properties, in good selling market areas, in order to obtain a quicker turnover. We bid for the suitable and specified properties on these Public Auctions on behalf of the Investror/s. In the event of our bid, being accepted, we purchase the properties and give them to the Estate Agent in that specific area, to sell them against a profit not less than 50%. The average resale period on each property is usually 1-2 months. We follow up with the bank attorneys on a regular basis regarding the transfer progresses of the properties and also regulate maintenance and repairs, if needed.
This market is not very competitive at all, due to the fact that only 30% of entreprenuers in this market are informed about it's viability.
We offer 50/50 profit share.
We need capital to purchase the auctioned properties.