Photo Credit: Courtesy of Crista Greenlee
This Traveler Shares Details On How She Invested In Property In Ghana
Greensboro, North Carolina native Crista Greenlee is an avid traveler who loves visiting new countries. Now based in Queens, she has had the opportunity to visit 41 countries in her lifetime and even lived in South Korea for three years.
Over 12 years ago, she traveled to Ghana for the first time and since then, the West African nation has held a special place in her heart. So much so, that she made the decision to invest in a property there.
We spoke with Crista to learn what that process was like for her and if she has plans for future investments around the world.
Travel Noire: What inspired you to seek out and invest in property in Ghana?
Crista: After my first visit to Ghana over 12 years ago, I developed a continuous growing love for the country, the people, and the overall vibe of Ghana. Through the years, I made numerous visits with my friends as well as family, and each time was more memorable than the last. Ghana just felt right, it felt like home.
I also noticed the growing economy through the years of visiting. Each visit I would notice a new restaurant, lounge, hotel, or shop. I couldn’t help but realize the rising potential for foreign investors. What is most important to me is having investors that actually care for the people and culture, and aren’t in Ghana to just have a seat at the table. But, to help build and contribute to the table. So I decided to become the investor that I wanted to see on the continent.
TN: How did you educate yourself on investing there?
Crista: I started by first searching online and gathering as much information as possible on purchasing in Ghana. I found a few development companies and compared what they had to offer as far as price and amenities. During one of my visits to Ghana, I reached out and met up with a sales executive of the development company I was interested in. He was very accommodating by meeting me in the lobby of my hotel. He brought brochures and provided answers to all of my questions.
TN: What recommendations do you have for someone interested in doing the same?
For anyone interested in the purchasing process, I would recommend actually talking to someone that has done it first. He or she can provide insight so that you aren’t going into it blindly. I would also recommend visiting Ghana (or the country of interest) and sitting down to talk face to face with a sales executive or the developer to get as much information as possible.
TN: Many people are hesitant to do the same because they are afraid of scams. What steps did you take to ensure that it was a legit investment?
Crista: I was hesitant at first as well, because you don’t want to get taken advantage of and scammed out of your hard-earned money. Funny story, when I first met up with the sales executive for my condo, I have to admit I was very defensive and a little aggressive. I kept hitting him with questions back to back, to listen to how thorough he could respond to try to find any faults or slip-ups in his responses. He was able to thoroughly answer all of my questions.
I also asked him who owned the company and if he could reach out to the owner. Long story short, the owner met me the next morning for breakfast and cleared out his day to personally take me to all of his properties and even showed me the property in which I ultimately invested in. I was sold when I was actually able to see and walk through the building and realize okay this isn’t a scam.
TN: Walk us through how you maintain your property from afar and how you now make a profit on it?
Crista: My property is a brand new building and is about 90% complete. It is a luxe one-bedroom, one bath unit. The average investment for a unit like this is about $120,000- $150,000 depending on the location.
We get our keys in April and the units will be move-in ready. The great thing about my condo is that there is a property management staff that maintains the common areas such as the pool, fitness center, and they provide 24-hour security. They can also provide cleaning servicing as well. I plan on using Airbnb to make a profit on my property and should expect to see a return on investment in the next few years.
TN: Do you have plans to invest in other places around the world? If so, where?
Crista: I absolutely plan on investing in more properties within Ghana. I may even venture outside of Ghana but I definitely want to stay on the the continent of Africa. Of course, I want to see how well my first one
performs before proceeding to the next but I have complete faith that this investment was a great one, especially with projections for
potential economic growth in Ghana.
TN: Where can our readers find you online if they have additional questions?
Crista: You can reach out to me via social media on Instagram: @keepingupwithvava.