spyder880: Now 14 members...... And counting.

Junapril: great work by @spyder, may i please know who he committees are.?

spyder880: After some weeks of voting, this is the way the results stand.

The question of whether we build a bungalow or duplex first drew 20 votes. 17 of the votes supported that we build a bungalow first while 3 votes wanted us to build duplexes. This means that more of us wants a bungalow to be built first as a start. This should be noted by the committee as deliberations will soon start.

The next 4 questions were about the venue, or the medium of convening the first meeting. 16 votes were for teleconferencing, 13 wanted a physical meeting in Lagos while Enugu and Abuja polled 9 and 4 respectively. Clearly we should be making arrangements to see the best medium to call each other and talk this out to know how best to proceed.

On the question of where we build our first house, Lagos and Enugu are tied at 13 votes each, while PH and Abuja got 5 and 3 votes respectively. The choice is clearly between Enugu and Lagos, and today, I will use some few points to compare the two cities in terms of profitability, taking into consideration the amount we expect to raise.

The option of adding more to your contribution does not seem to be very popular as only 8 votes went there. I am also against it, let's work within an agreed budget of N10m.

Since setting up a mail address for the project was a popular idea among the voters (21 votes) I have already set up the mail and members are already registering. That one is done now.

N500k as the minimum contribution to buy a single lot is the more popular choice, polling 21 votes, while N1m as the minimum lot size polled 9 votes. We go with the N500k option.

By polling 16 votes, it is clear many participants want this registered with CAC. We will make arrangements to do this as soon as possible.

We are already complying with question number 16, which we asked if a list of participants be displayed. 18 votes were collected on this. The first list is for interested members, the next will be for those that have already complied with the payments so we can start off.

Since 19 votes are of the opinion that we form a committee to oversee the actual constructions, I think it is clear that we must set up a committee as well.

Hiring professionals is good, but expensive for a fledging organization like the one we intend to form. But since up to 13 votes are in support of that option, we age going to involve lawyers, architects, engineers and surveyors.

There were not enough votes to support the building of 4 flats of 3 bedrooms to be sold as units. Only 5 votes were in support of that. We are going with the bungalow option for now and maybe change the type of building as we progress.

These were the main points of the voting process, the results are out so I suggest we stop the votes now. The points that are tied (like the first city to build the house) will be decided later today as more analysis will be made to compare the two cities.

I thank all of you who participated in the voting process, this shows we can do something together as a people. Business partnerships are the way to go as we can pull funds together and do thigs which might be difficult to achieve individually. Within me, I feel this is going to be a huge success, we should only take steps to handle it with the care it deserves.

[color=#000099][/color]Well done for the job done so far!!!!!!!
Comments expected, happy weekend all

rastaman20: @spyder880, Going through your analysis,i must salute you for your effort so far,can you also take note of these factors.

First,the amount needed to start off the project, because if at the end Lagos wins as it is tied with Enugu,don t you think that, the issues of fund will delay the project because the partners will now be mandated to add up as against the N 500k been the agreed voted investment fee.

Secondly, what will happen when a partner that voted and enlisted, with one of the two cities(Lagos /Enugu) in mind get disappointed because the city of his/her choice was not chosen and decide to quit, taking into account that these individual has been counted as one of the partner of the project.

ocman: SPYDY DID YOU SEE MY EMAIL REGARDS MY INTEREST IN THE pip? MOREOVER I DIDNT KNOW HOW THE VOTING WAS DONE OR WHERE IT WAS DONE

Junapril: i would have loved that @ spyder should have his way when it comes to decisions on a stale mate on votes and deliberations, he had the dream and must have it all planned out before everyone of us came to fine tune all his thoughts but I am so sure that spyder knows and understands the big potential that the Lagos market holds. I want us to look at another angle of building 2nos of bungalow on a single plot of land.We might spend abit more but the profit will make it worth the while. 2bungalows in the same compound with different access and compound demarcation that can park at least 2 cars per apartment. This will make alot of sense and also give the neighbourhood feeling anyone might desire but still with so much privacy. Let's consider this but might only fly in Lagos as i don't understand the Enugu market that much. Will forward us more information as the whole process gets clearer.

Junapril: i would have loved that @ spyder should have his way when it comes to decisions on a stale mate on votes and deliberations, he had the dream and must have it all planned out before everyone of us came to fine tune all his thoughts but I am so sure that spyder knows and understands the big potential that the Lagos market holds. I want us to look at another angle of building 2nos of bungalow on a single plot of land.We might spend abit more but the profit will make it worth the while. 2bungalows in the same compound with different access and compound demarcation that can park at least 2 cars per apartment. This will make alot of sense and also give the neighbourhood feeling anyone might desire but still with so much privacy. Let's consider this but might only fly in Lagos as i don't understand the Enugu market that much. Will forward us more information as the whole process gets clearer.

kitty kat: Spyder pls on a neutral ground, I want to ask a question. Its unrelated to your venture but important to me.


From the voting, more ppl voted for Enugu than for PH and ABJ. Is this to say that rela estate is commercially more viable in Enugu than these two cities?


Thanks

OluwaBlue: This project will only see the light of the day if people will stop behaving like this is a child's play. This is a business partnership and not one man show or committee. I have not decided if I will join. We need maturity here. Follow the rules set out in the partnership or people will not participate.

rastaman20: @spyder880, Going through your analysis,i must salute you for your effort so far,can you also take note of these factors.

First,the amount needed to start off the project, because if at the end Lagos wins as it is tied with Enugu,don t you think that, the issues of fund will delay the project because the partners will now be mandated to add up as against the N 500k been the agreed voted investment fee.

Secondly, what will happen when a partner that voted and enlisted, with one of the two cities(Lagos /Enugu) in mind get disappointed because the city of his/her choice was not chosen and decide to quit, taking into account that these individual has been counted as one of the partner of the project.

spyder880:

To answer your question, I don't think the votes are targeted at where real estate is more viable. Other factors like affordability played a big role. It will be very difficult for a voter to vote for the purchase of land and construction of a bungalow in Abuja for sale when you have only N10m planned to be spent!

fuzzyt: Spyder880 pls did you get the email regarding my interest on this project? I didn't get a mail from you acknowledging my interest in the project. Pls let me know if I have been included.

kitty kat:
Spyder thanks for your answer. In your own opinion, which city will give one faster ROI in reals estate.

An after; have u noticed that lekki properties are reducing in price?

Humanbeans: spyder, since our first target is 10M, and we have 15 investors, im of the opinion that you should find out if that money can be raised among them, time is of the essence, if we can get the project underway in the next two months, the progress could attract other investors for the next project. pls work on this ASAP (as soon as possible), while we are working on the other aspect of the partnership