What happens to my money after I have invested on the GrowMyHome website?
This is a valid question for users on the GrowMyHome platform who would love to buy into a real estate deal. GrowMyHome places a high premium on the safety and security of our members. Funds paid into a property listed on our website are managed by GIG Wealth (Pty) Ltd, a registered fund Manager in South Africa. This ensures that every process undertaken in our system is verified independently.
The first step every potential property buyer or real estate investor undertakes on our platform is verification. Only verified users can buy a property or participate in a real estate development. Verification ensures your safety. It keeps out unknown users, fraudulent persons, and funds with questionable sources.
We take it further.
After a member has been verified, they can now buy into a property on our website or invest in a real estate project. Once the verified member makes a payment, the money goes to a special fund management account managed by GIG Wealth.
Our fund managers are licensed and mandated to provide independent functions for GrowMyHome.
What exactly do the fund managers do?
- They carry out a risk analysis of every property deal. This means they assess potential deals and de-risk them by ensuring that funds placed into these deals are secure.
- They look at all components of each property deal to ensure that it meets all requirements for a viable and secure deal.
- Once property deals have met the requirements, they give the green light for other people to participate.
- They manage the funds paid by property buyers by first collecting these funds before allocating to the property deals and then on maturity they collect the funds from the properties for remittance to the members.
This means that when members buy into a property deal, the money goes into a special fund account that is overseen by GIG Wealth. From this fund account the money is paid to the property.
GIG Wealth ensures that the member is allocated the relevant documentation to back their investment.
During the life cycle of the property, Gig Wealth works with GrowMyHome to ensure that all the necessary financial reports are obtained at the right time. When it is time for a property buyer to receive their proceeds or payout, GIG Wealth will collect these funds and remits it to the buyer.
- At every point, your money is always backed by a real property. This is what makes GrowMyHome unique. You always own the portion of the property you bought, and your asset is overseen by GrowMyHome and by an independent reputable fund manager.
You can read more about GIG Wealth here
Participate in one of our Growing list of real estate deals. We have put up a new property offer on the website. Please have a look at it.
We also have two other existing properties for you to buy into:
- Multi-home development, Ferndale, South Africa
- Serviced apartments at Palm City Estate, Uyo, Nigeria
Please note that only VERIFIED users can view property deals. If you are verified, please proceed to click on the property deal. If you are NOT verified, when you click on the deal, you will be re-routed to the verification page, to complete verification, and after that you will be able to view the deals.
