WCN Property Crowdfunding Members contribute money in the savings account every month, which will be used as capital to attain income generating properties.
The focus of the Property Crowdfunding is to develop residential and commercial rental properties. The properties will be managed and maintained in-house. Emphasis is on ownership and asset accrual, hence no selling of developed properties.
WCN started the Crowdfunding (Previously WCN Stokvel) in 2017 January and have saved over half a million in its first 2 years of existence.
Property built is registered under a separate new company, to which members own a share. A R60000.00 contribution toward a R600000.00 investment property, earns a member 10% shareholding.
WCN is set to embark on its first property project, mid-2019, having already acquired the land for residential property development, which will be completed and leased out by end of 2019.
WCN management have decided to start with the acquiring of land in townships, to build rental residential accommodation. The strategy behind this stems from the need for affluent township development and the fact that townships backroom economy is worth more than billion Rands a year.
The vision of WCN’s Property Crowdfunding goes beyond just township residential property development. The aim is to build and own malls, complexes, and estates across South Africa and Africa.
The Property Crowdfunding of WCN is led by a team of individuals who have been in the property business for many years, with vast experience and invaluable insights.
Members have different savings options to choose from the table below. During trying times, members are still encouraged to contribute a minimum afforded amount to maintain their savings culture.
|Saving Option||Monthly Contribution|
*This membership is for students and retired people