Fhemmmy:

Ummmm . . . I am sure it should be possible somehow, not sure though cos might be long distance for some people, just an idea though and we could find ways to fine tune and make something work

If we set up one here in the US it will be a long distance call for guys calling from naija! Anyway, make we reach that stage first!

This is a laudable initiative from Spyder and co. The idea is awesome and realistic. I am highly interested and I am in but with these observations/comments/proposals

1. Zoning: I will disagree with the type investment whereby investors invest in a particular lot/zone. I definitely believe this will creat division in this "association". Division is the begining of destruction. I will rather suggest that everybody invest into a central fund (NGN10M) while investment decision on where and how fund will be utilised will be a different issue. Investment is all about taking risk so this will be one of the risks that will be associated to this investment. If we grow let us grow together and if the other way round so be it-everyone. There is no way we will not create some friction/jealous if one zone is doing better than the other.
2. Teleconferecing/meeting: I strongly agree that we need to meet at least to put a face to diffent pseudonyms here. Why not just meet in the nearest zones; e.g. western zone in Lagos, Eastern zone in Enugu, Southern zone in PH and the Northern zone in Abuja. The minutes (summary) of our meeting can be shared on the forum or elsewhere. The guys outside Nigeria can call in or through some chat means(Facebook, twitter etc)
3. Where do we go from here? I will suggest we create a to-do-list/action plan with timelines to each action. You can count on me anytime if my help is needed.
Good luck!!!


Good luck!!!

BayoAA: This is a laudable initiative from Spyder and co. The idea is awesome and realistic. I am highly interested and I am in but with these observations/comments/proposals

1. Zoning: I will disagree with the type investment whereby investors invest in a particular lot/zone. I definitely believe this will creat division in this "association". Division is the begining of destruction. I will rather suggest that everybody invest into a central fund (NGN10M) while investment decision on where and how fund will be utilised will be a different issue. Investment is all about taking risk so this will be one of the risks that will be associated to this investment. If we grow let us grow together and if the other way round so be it-everyone. There is no way we will not create some friction/jealous if one zone is doing better than the other.
2. Teleconferecing/meeting: I strongly agree that we need to meet at least to put a face to diffent pseudonyms here. Why not just meet in the nearest zones; e.g. western zone in Lagos, Eastern zone in Enugu, Southern zone in PH and the Northern zone in Abuja. The minutes (summary) of our meeting can be shared on the forum or elsewhere. The guys outside Nigeria can call in or through some chat means(Facebook, twitter etc)
3. Where do we go from here? I will suggest we create a to-do-list/action plan with timelines to each action. You can count on me anytime if my help is needed.
Good luck!!!


Good luck!!!

Thank you Bayo, your points are well noted. Especially as it concerns the action plan/timelines to be set up. I am working on it but any other prospective investor can also suggest a likely action plan with timelines before mine is ready. Thank you.

@BayoAA:
You made some good point but the reason/idea behind Zoning is to allow/give people more options/choices. Personally I don't really have problem with anywhere except some security conscious states. I am an igbo guy born and raised in Lagos, spent about 11yrs in the north (Jos) before moving to USA. Someone in my position already had the opportunity of visiting and living in these places and might not have any problem investing in them but for most people or an investor that had never really been anywhere or transacted any form/kind of business there, they might prefer to invest in cities/states they're close or familiar to. Even As am typing this, am trying to think of any of my Yoruba friends (I have a lot of them) that own or had ever mention owning a property anywhere in the East! While almost all my Igbo friends own house/s in Lagos, Ibadan, etc including me. If the Zoning idea work, a Lagos base southerner/investor can easily take/drive his prospective buyer or interested friends to Ibadan to show them the house! Vs/vsa. I also don't think any Igbo investor including me will invest a dime in places like Jos anymore! I'll rather invest in Abuja but we all also know what a plot of land cost there. Folks, am not trying to say people don't invest in places like North anymore or trying to bring in tribalism but it is a hidden and sensitive fact to look at in property investments. With Zone, I can buy into Lagos, Awka/Enugu lot! But by vote, you can NEVER convince me into investing or buying into Kaduna/Kano/Jos lot! Not with all this negative news I read about those place on NL. Again am speaking from my own opinion, experience, and choices/option. Am sure a lot of more ideas and suggestion are coming in.
Also, you said something about if we rise "fine" and if we fail "so be it" if I may ask, what negative or side effect do you see coming? The reason for this Q/A, brain storming, suggestion, opinion, and ideas is to avoid that. Property is one of the safest investment in Nigeria and if we're talking reality here, then a lot need to be put in place to avoid that including involving a lawyer and securing some kind of insurance bond. A lot can cost N550k for example with only N500k actually going into the project while N50k for insurance. I will prefer and feel safer investing in a project knowing my funds are insured. Gone are those days people invest blindly and gamble for profit or lost! Anyway, am seriously following this thread bumper to bumper!

Thank you my brother, am just like you from Mushin Lagos
Grow up school in Kaduna back to Lagos then to US
Like you said, still have family their, but can't my put my
Money in some part of the state. For Security reson. I own propety in Abuja instead. Place like Lagos you're going to need more money to secure a lot of land there
Expent those inner new placese like Ibeju Lekki,badagry Ikorodu or along Ogun state border line with Lagos.
Which I believe is still going cost more then NGN 5000,
Even in Abuja satellite towns. Look at placese at your end. There is nothing wrong with Enugun I have business partners there, it a beautiful city to invest if only you can sell fast there!!!!

@prince_onx, You just blew it well open. Yours should be a blue book on this investment.
@Spider888. Am I too forward if ask people to say YES or like this comment if they ready to invest ?

FLORIDACAR: @prince_onx, You just blew it well open. Yours should be a blue book on this investment.
@Spider888. Am I too forward if ask people to say YES or like this comment if they ready to invest ?

No, you will not be too forward, but we need to see if more suggestions will come up. For me, I will like to allow the whole ideas to be running till end of this week. Then we can itemize all the important suggestions and see the ones we agree with. By next week we review all the major contributions and then reach some form of agreement, By the week after we should be talking to the professionals, lawyer, insurers and architects.

Even as we are still deciding I have not been idle, I contacted a nairalander who is a known architect here to help us with some drawings of the likely bungalows we can decide to build when we have reached some agreement on the points raised/being raised. The reason is for us to have an idea of what we are trying to build, and most importantly, know the likely costs in different cities.

FLORIDACAR: @prince_onx, You just blew it well open. Yours should be a blue book on this investment.
@Spider888. Am I too forward if ask people to say YES or like this comment if they ready to invest ?

Sharing ideas and opinion with great minds like you guys only make one smarter/wiser! Moreover i have great passion for business/investments. You should see me calculating and shining eyes with all this Dow-J, NASDAQ, S&P and all that stock thing!

kopell: Thank you my brother, am just like you from Mushin Lagos
Grow up school in Kaduna back to Lagos then to US
Like you said, still have family their, but can't my put my
Money in some part of the state. For Security reson. I own propety in Abuja instead. Place like Lagos you're going to need more money to secure a lot of land there
Expent those inner new placese like Ibeju Lekki,badagry Ikorodu or along Ogun state border line with Lagos.
Which I believe is still going cost more then NGN 5000,
Even in Abuja satellite towns. Look at placese at your end. There is nothing wrong with Enugun I have business partners there, it a beautiful city to invest if only you can sell fast there!!!!

True talk! Lets see where ideas/opinion/options will land us. Where in the US are you based?

Spyder,
If I hear say you start without me, you find the deals and we'll supply the cash. You guys femmhy, onyx etal.... no start without me o

@prince _onx am in NYC and you?

WHIZBRO: Spyder,
If I hear say you start without me, you find the deals and we'll supply the cash. You guys femmhy, onyx etal.... no start without me o

We will not start without you my man, just stay close and we will turn this great idea into success. Thanks.

@ Spyder,

You appear to mention bungalows often, do they sell faster than other types of houses?
I would suggest we also research duplexes, and 4 flats of 3BR apartments, etc.
The key words for me are: location, cost/ benefit ratio, and profitability.
I suggest we start to narrow the cities to places like: Abuja, Enugu, Lagos and Port-Harcourt, in order
to make the research process less cumbersome. I consider these four cities great locations from personal
experiences. I have properties in Abuja and Lagos, though Abuja appears to
be growing faster than most places. I schooled at Enugu Campus, and know the city very well and feel very
comfortable investing there. Port- Harcourt holds a lot of promise and I have invested there before, and
would not mind doing it again. Asaba is looking up too, but not among the top four, even though Delta is
my home state.
From experience, a lot can go wrong with the building process or business plan and I encourage everyone/ would be
investors to ask any questions and contribute any ideas or suggestions for debate/ analysis.

spyder880:

We will not start without you my man, just stay close and we will turn this great idea into success. Thanks.

I'm not taking my eye off this thread

kopell: @prince _onx am in NYC and you?

Cool! lived in NY for almost a year when i first came to the US but now reside in Cleveland OH. NY and Chicago are my two main business destination! Am there almost every other week. Presently in Chicago now and will be in NY on Monday the 11th feb. Hopefully one day we'll schedule to meet up if schedule permit. Nice hearing back from you! Cheers!

@prince_onx Small world.I land in NYC from Naija some years back, move to Columbus Ohio for three years. move back to NYC since then. Hala me early when you're around to see my schedule if we can meet. What part of city are coming to? I works at Manhattan if you're coming there
It's going be easy for me to meet you !!!

Sagewood: @ Spyder,

You appear to mention bungalows often, do they sell faster than other types of houses?
I would suggest we also research duplexes, and 4 flats of 3BR apartments, etc.
The key words for me are: location, cost/ benefit ratio, and profitability.
I suggest we start to narrow the cities to places like: Abuja, Enugu, Lagos and Port-Harcourt, in order
to make the research process less cumbersome. I consider these four cities great locations from personal
experiences. I have properties in Abuja and Lagos, though Abuja appears to
be growing faster than most places. I schooled at Enugu Campus, and know the city very well and feel very
comfortable investing there. Port- Harcourt holds a lot of promise and I have invested there before, and
would not mind doing it again. Asaba is looking up too, but not among the top four, even though Delta is
my home state.
From experience, a lot can go wrong with the building process or business plan and I encourage everyone/ would be
investors to ask any questions and contribute any ideas or suggestions for debate/ analysis.

Thank you for brıngıng thıs up, I dont have specıal prefrence for bungalows but ıt seems that ıs what N10m can afford, land, buıldıng and other costs. We wıll soon graduate to buıldıng duplexes, that one ıs certaın. I wıll respond to the rest later thıs nıght. Thanks.

@ spyder can you try ths guy about what he said he have in Abuja? I can assure you it going be in the BUSH.


four plots for sale @gwagwalada, all with c of o and AGIS acknowledge ment, the locations as follows: kuje rd 3 anex layout measured 1000m2 residential purpose, going for N600,000. Secondly, giri layout measure 1600m2 residential as well going for N1.2m. Thirdly passo layout going for N400,000 measured 1000m2 and fourthly, farmland 5.6 hactares going for N1.5m. Interested call the owner on 08036529966

Good ideas. Am in. Lets explore option OF applying officially to lagos govt for Land allocation for estate development.

This is a wonderful thread and i believe it will turn to be a success by the grace of God and the will power of the people. I am a construction person and stays in Lagos, Lekki axis to be precise.There is no doubt, Lekki-Epe is one of the fastest growing area in the whole of Africa with lots of profit potentials, but the important factor to be considered when building on this part of Lagos is the cost of land and also the cost of building due to the raft foundation required to start the building but i believe if a building is well built with a reasonable profit margin it will always attract buyers. I Will be interested in he investment and also would be ready to render any help as far as this axis is concerned (Lekki-epe). Can't wait for Nigerians of our generation to change the way things are done while making legitimate money with so much trust and real value for money on the buyer's part. As long as there is "sincerity of purpose" and real commitment. This would fly like a bird and soar round the world.
Bigups spyder and everyone on the thread.

@Saibuhari, it not easy as you think I and my partners
Have same project similar like this in Lekki that we officially get from Lagos State government and paid every official fee for, am talking of millions since 2010
We are still wanting for C of O from alausa till date we never get it yet . There is a lot of red tape along the line.
Pls forget that government thing for now in Lagos .
After pushing every envelope that need to be push, we're
Told that they are still working on the electronic C of O.
Ask your self if you can wait that long with your millions,
Driving now guys latter tell you more .

kopell: @ spyder can you try ths guy about what he said he have in Abuja? I can assure you it going be in the BUSH.


four plots for sale @gwagwalada, all with c of o and AGIS acknowledge ment, the locations as follows: kuje rd 3 anex layout measured 1000m2 residential purpose, going for N600,000. Secondly, giri layout measure 1600m2 residential as well going for N1.2m. Thirdly passo layout going for N400,000 measured 1000m2 and fourthly, farmland 5.6 hactares going for N1.5m. Interested call the owner on 08036529966

Ok, we have to try every possible option. I will place a call to the guy tomorrow morning and lets see what he has to tell us. Those prices seem terribly low to me for an Abuja land, but one can never tell......
Thank you for throwing this idea in.

kopell: @Saibuhari, it not easy as you think I and my partners
Have same project similar like this in Lekki that we officially get from Lagos State government and paid every official fee for, am talking of millions since 2010
Where still wanting for C or O from alausa till date we never get it yet . There is a lot of red tape along the line.
Pls forget that government thing for now in Lagos .
After pushing every envelope that need to be push, we're
Told that they are still working on the electronic C of O.
Ask your self if you can wait that long with your millions,
Driving now guys latter tell you more .

To be honest with you Kopell, I don't always like going to our government for anything except to pay rates and compulsory taxes. Every other thing they may be of benefit to you is never attended to with the type of attention it deserves, that is why I have always been buying my lands from individuals and communities, but will later submit the documents for government registration. But we still have to keep all options open for now.

@ Saibuhari, do you have any experience acquiring lands from Lagos state government or any other government in Nigeria? Please share with us.

Junapril: This is a wonderful thread and i believe it will turn to be a success by the grace of God and the will power of the people. I am a construction person and stays in Lagos, Lekki axis to be precise.There is no doubt, Lekki-Epe is one of the fastest growing area in the whole of Africa with lots of profit potentials, but the important factor to be considered when building on this part of Lagos is the cost of land and also the cost of building due to the raft foundation required to start the building but i believe if a building is well built with a reasonable profit margin it will always attract buyers. I Will be interested in he investment and also would be ready to render any help as far as this axis is concerned (Lekki-epe). Can't wait for Nigerians of our generation to change the way things are done while making legitimate money with so much trust and real value for money on the buyer's part. As long as there is "sincerity of purpose" and real commitment. This would fly like a bird and soar round the world.
Bigups spyder and everyone on the thread.

I love your optimism, you are the type of person I will like to be talking with as we go ahead with these plans. How much is an average plot of land in Lekki-Epe area?, a place where we could build a bungalow for immediate sale. Please remember that any house intended for immediate sale should be in an area where people are already living. Thanks in anticipation.

Hi Spyder and folks, Count me in as an investor.

I agree with Sagewood that target cities should be narrow to four namely Abuja, Enugu, Lagos and Port-Harcourt for the first set of properties.

It will be great if we have investors / builder in each of the 4 cities (Enugu and Lagos seems covered with Spyder and Junapril) for easier, and cost-effective research, planning and monitoring of the projects.

I also believe we should consider option of buildings of 4 flats as I believe this project has the chance of raising the required funds if we gets our act right, with the previous posters experience and Spyder knowledge in the industry, its doable, a cost/benefit analysis of bungalow in comparison with 4 flats will help see which is more viable and make an informed decision.

As regards the meeting, the investors in Nigeria can meet while those outside can dial in via skype. Its difficult to have everyone under one roof since we are geographically dispersed, Technology will take care of that.

I believe the opportunity is enormous here. let the brainstorming continue....

@spyder did you need the information of acquiring land form government? I believe I have your email, I will send you all the information you need to acquire land from Lagos State government and Abuja. MY MAN ENO CHEAP. The land doesn’t cost that much, but the requirement for estate planning, infrastructure, capital contribution. State license satisfied architect that will sign on it ETC.ALL this could run into millions of Naira, then the envelope thing they have to be big my man I mean millions. After all these it could take up to two years to get the allocation if you know the right guys

feasy1: Hi Spyder and folks, Count me in as an investor.

I agree with Sagewood that target cities should be narrow to four namely Abuja, Enugu, Lagos and Port-Harcourt for the first set of properties.

It will be great if we have investors / builder in each of the 4 cities (Enugu and Lagos seems covered with Spyder and Junapril) for easier, and cost-effective research, planning and monitoring of the projects.

I also believe we should consider option of buildings of 4 flats as I believe this project has the chance of raising the required funds if we gets our act right, with the previous posters experience and Spyder knowledge in the industry, its doable, a cost/benefit analysis of bungalow in comparison with 4 flats will help see which is more viable and make an informed decision.

As regards the meeting, the investors in Nigeria can meet while those outside can dial in via skype. Its difficult to have everyone under one roof since we are geographically dispersed, Technology will take care of that.

I believe the opportunity is enormous here. let the brainstorming continue....

Thank you, points noted also, you are welcome. You mean 4 flats of 3 bedroom each, for sale or for rent? If for sale, can we sell each unit differently or sell them together as one whole unit? Let us talk more about the whole possibilities.

kopell: @spyder did you need the information of acquiring land form government? I believe I have your email, I will send you all the information you need to acquire land from Lagos State government and Abuja. MY MAN ENO CHEAP. The land doesn’t cost that much, but the requirement for estate planning, infrastructure, capital contribution. State license satisfied architect that will sign on it ETC.ALL this could run into millions of Naira, then the envelope thing they have to be big my man I mean millions. After all these it could take up to two years to get the allocation if you know the right guys

Na wao, its the time wasting that irritates me with government things, and the envelope things just dey frighten me

spyder880:

Thank you, points noted also, you are welcome. You mean 4 flats of 3 bedroom each, for sale or for rent? If for sale, can we sell each unit differently or sell them together as one whole unit? Let us talk more about the whole possibilities.

4 flats of 2 bedrooms, 4 flats of 3 bedrooms for sale. I believe focus should be to sell the units individually, that way we have more customers and word of mouth will spread the good works and could easily go viral.Social media marketing could be employed to drive sales at little or no cost too.

feasy1:

4 flats of 2 bedrooms, 4 flats of 3 bedrooms for sale. I believe focus should be to sell the units individually, that way we have more customers and word of mouth will spread the good works and could easily go viral.Social media marketing could be employed to drive sales at little or no cost too.

It ıs clearer now, thanks for the suggestıons.

kopell: @spyder did you need the information of acquiring land form government? I believe I have your email, I will send you all the information you need to acquire land from Lagos State government and Abuja. MY MAN ENO CHEAP. The land doesn’t cost that much, but the requirement for estate planning, infrastructure, capital contribution. State license satisfied architect that will sign on it ETC.ALL this could run into millions of Naira, then the envelope thing they have to be big my man I mean millions. After all these it could take up to two years to get the allocation if you know the right guys

You delıvered as promısed. I am studyıng the document, thanks.