1. Property Ownership Readiness:
Q: Are you financially prepared to own real estate?
A: Ensure you are financially ready for real estate contributions and ownership.
Q: Do you have a clear property ownership goal and strategy?
A: Define your property ownership goals and strategies.
Q: Are you open to sharing ownership responsibilities and decision-making with other co-owners?
A: Be ready to collaborate with co-owners.
2. Risk Tolerance:
Q: Are you comfortable with the potential risks and returns associated with real estate contributions and ownership?
A: Understand the risks and returns in real estate.
Q: Can you manage unexpected expenses and market fluctuations?
A: Be prepared for unforeseen expenses and market changes.
3. Real Estate Horizon:
Q: Are you looking for short-term or long-term property ownership opportunities?
A: Determine your preferred real estate horizon.
Q: Do you understand the commitment required for your chosen real estate horizon?
A: Be aware of the commitment needed for your real estate horizon.
4. Co-Ownership Mindset:
Q: Are you open to working collaboratively with other co-owners?
A: Embrace collaboration with co-owners.
Q: Are you prepared to follow a Tenancy-in-Common Agreement to outline ownership terms?
A: Agree to follow ownership terms in the Tenancy-in-Common Agreement.
5. Property Selection:
Q: Have you identified the type of property you want to co-own (residential, commercial, short-hold, etc.)?
A: Choose the property type you want to co-own.
Q: Are you familiar with the specific property you intend to co-own, including its location and potential returns?
A: Understand the chosen property, its location, and expected returns.
6. Exit Strategy:
Q: Do you have a clear exit plan for your real estate ownership and contributions, such as selling your ownership units or utilizing market price exit options?
A: Plan your exit strategy for your property ownership and contributions.
7. Financial Capacity:
Q: Do you have the necessary financial resources to buy and co-own property units?
A: Ensure you have the financial means for property units.
Q: Have you reviewed the property's price per unit and your contribution amount?
A: Review property unit prices and your contribution.
8. Legal and Regulatory Understanding:
Q: Are you aware of the legal and regulatory aspects of co-ownership in your jurisdiction?
A: Know the legal and regulatory requirements in your area.
Q. Are you of legal age to engage in co-ownership contributions?
A. You must be 18 years or older to engage in co-ownership contributions on our platform.
Q: Have you reviewed our platform's terms and conditions?
A: Familiarize yourself with our platform's terms and conditions.
9. Property Ownership Goals:
Q: Do you have specific property ownership goals, such as rental income or property appreciation?
A: Set clear property ownership goals.
10. Platform Familiarity:
Q: Have you explored and understood how build.ng operates and the services we offer?
A: Get acquainted with our platform and services.
Q: Are you comfortable using our platform for transactions and property management?
A: Be at ease with using our platform for transactions and management.
If your answers align positively with these questions and tips, co-ownership may be a suitable choice for you. build.ng is here to assist you throughout your co-ownership journey. However, if you have further questions, feel free to reach out to our team.