About Us
Mission
The mission of Oikia Realty is to create an affordable Real estate market for both the low income and high-income population of Accra and provide a platform for property owners to connect their product to the patronising market in Ghana.
Vision
Oikia Realty will create an income producing real estate firm over a period of 5 to 10 years that will produce returns for principals and investors. The firm will seek to invest in one (1) or two (two) properties per year as part of firm policy.
Start-up Summary
Oikia realty will engage in real estate sales, rental and leasing property business. As a start-up company it will seek to manage the day-to-day activities but will outsource the accounting and legal service. The firm has already listed ten (10) properties and two of them will be used as examples for the underwriting. The equity and debt sourcing strategy will seek an equity investment of 20% of operating cost, closing cost and fees and seek deft financing for the balance.
Other costs associated with the start-up of the new company will be kept to a minimum as the business model is to have the company run but with two principals, operated from home office and weekly work from the assigned firm office. No salaries are to be drawn from the company, but dividend will be paid as profit made on sales, rent, lease and agency commissions of property. Included in the associated start-up cost are the outsourced fees in establishing Oikia Realty, minimum office supplies, insurance and operating expenses, these will be raised by the principals and will later be paid as expenses from the company income.
The two principals have some, but limited equity for each investment. Some additional equity may need to be raised depending on the size and extent of improvements required for expansion and system upgrade needed. The strategy is to minimize external investment and retain as much of the principals’ working capital as possible. An example of this purchasing strategy may include the following scenario: