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Manyatta Investment International
Franchised Real Estate Brokerage and Investment Advisory
Manyatta is the first franchised Real Estate Brokerage Kenya. We plan to inject professionalism, integrity and first class customer service through well trained and motivated agents. We will benchmark ourselves against the best Franchised operations. High commission splits and low loyalty fees will attract and retain the best Realtors.
Facts
2007
| Two years ago: | |
| Last year: | |
| This year (forecast): | 200,000 |
| Year 2 (forecast): | 1,500,000 |
| Year 3 (forecast): | 7,000,000 |
| Two years ago: | |
| Last year: | |
| This year (forecast): | 28,000 |
| Year 2 (forecast): | 70,000 |
| Year 3 (forecast): | 140,000 |
| Two years ago: | |
| Last year: | |
| This year (forecast): | 4 |
| Year 2 (forecast): | 12 |
| Year 3 (forecast): | 24 |
How do you expect this to be financed? Please note: the total amount mentioned here should be equal to the total finance needed at the previous question.
| Own Contribution in cash | 25,000 |
| Loans (debt) | 80,000 |
| Share capital that you seek from investors (equity) | |
| Other sources | 5,000 |
| Total finance needed (US$) | 110,000 |
The Business
Our principal services consist of all components of a full Real Estate Brokerage and Investment Advisory Firm. Our target market will be Kenyans in the Diaspora who want to invest in Kenya. We will also provide our services to Kenyans residing locally. We will provide a holistic approach to investing by locating properties up for sale, finding qualified buyers and working with Mortgage Companies to help our clients secure mortgage finance.
Franchised Real Estate Brokerage and Investment Advisory Firm:
We will launch our business as property managers and agents for selling and buying Real Estate. Through our website www.manyatta4u.com we will play an active role in the rental market by advertising rental apartments through our website.
Property Development and property syndication:
In this phase we will help our clients who own plots but are not developed secure financing to build residential homes or commercial buildings. At this point the company will have developed a more sophisticated clientele who would be considering developing commercial properties and Apartment Complexes. This would require collaborating with a few reputable Architects, Engineers (Structural, Civil and Electrical), Contractors and Quantity Surveyors. Manyatta would earn a commission for Project Management - ensuring that everything is on track – cost, quality and time. In property syndication we will work on pulling together groups, identifying viable Real Estate Investment Projects and creating the first Real Investment Trust in Kenya that would be fashioned around REITs in North America that distribute most of their earnings. This would be a real motivator for most Invetsment group members as most Housing Companies have performed poorly in the past in regards to distributing earnings.
Mortgage Brokerage and Financing:
This will mainly involve helping our clients secure mortgages to purchase either fully completed homes or plots that are serviced and ready for development. Creative ways would also be sought to help our clients get Down Payment. As part of our service to our customers we will have full knowledge of mortgage products available in the market from the different mortgage companies and we would advise our customers on the best product for their profile.
The strengthening Kenyan economy has encouraged more homebuyers today to looking to purchase investment properties. These changes in attitudes of homebuyers are a tremendous boost to real estate firms and the Kenyan economy. Unfortunately, they are also motivating large numbers of poor quality service providers.
Manyatta will give homebuyers and sellers professional advice and expertise to help them reach a successful sale or purchase in their real estate needs. We will distinguish ourselves and compete by getting the job done right the first time every time.
We are poised to take advantage of these changes, and expect to become a recognized name and profitable entity in the East African real estate market. Our targeted market area will be Kenya. We hope to expand to Uganda, Tanzania and Rwanda in the near future.
Initially we will offer free listing services for properties up for sale. After we gain traction and there is brand recognition on “Manyatta” in the market then we will start to charge competitive fees compared to the leading brokerages in the country. Thg industry is currently fragmented and we intend to put structure to the industry.
Visitors to Manyatta’s website will be tracked through lead capture technology and their information forwarded to the Area Representative.
Currently in Kenya there is no Franchised Real Estate brokerage. My experience gathered as a Mortgage Consulant and Real Estate Broker in North America will help me create a paradigm shift in the way Real EState transactions are handled.
Trained sales agents and use of web technology will be some of the innovations.
The Entrepreneur & Management
I qualified as a Certified Public Accountant of Kenya CPA(K) - Strathmore School of Accountancy in 1988 and spent the next 10 years in different roles in Financial Accounting. In 1997 I started a web related business that imported Art from Africa. I learnt a great deal about first class customer service and how powerful the web can be as a business tool. In 2001 after my retail business was financially strained I ventured into Real Estate as a Mortgage Consulant. I learnt how important it is to choose a product that is neccsity or a perceived neccesity. Art did not fall in this category. I have practised Real Estate for the last five years in North America. The experience I gained in North America gives me an edge over most brokerages as I apply skills that I learnt and use modern technology to increase productivity.
Development
Manyatta’s brokerage will target Kenyans in the Diaspora. We intend to create a seamless remittance process into the housing sector. This will fulfill one of the key financial objectives of the Ministry of Finance by filling the budget deficit. In 2006 total remittances amounted to $1billion and the government is hoping to double that amount next year. To achieve this goal remittances have to be larger and consistent . Real Estate Mortgages fit both criteria. The remittances would go towards financing mortgages for low income housing. The governments’ goal has been 150,000 houses per year and the economy has barely managed to produce 30,000 units. As most of the houses we intend to develop will be low to middle income housing it will help fill the real gap in housing needs in the country as 70% of the population in most of the urban areas resides in slums. Kibera is the largest slum in the world and is located in Nairobi. Our model will help alleviate the housing problems. We plan to work with developers who demonstrate creativity in the use of alternative materials. This will lower the unit cost of the houses. We will pass on the savings to our customers through lower cost houses. We hope to be able to influence the market by encouraging more disclosure in the market and thus encouraging individuals to save and ultimately get their own house. This can be used as collateral for a loan which can spur further development
Engaging Kenyans in the Diaspora in Housing Development
Manyatta's professional services can engage the Diaspora community in investing in the housising market that would target low to middle income earners.