Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,910,433 members, 7,020,883 topics. Date: Wednesday, 17 August 2022 at 01:49 AM

The First Nairaland Inspired Real Estate Project - Properties - Nairaland

Nairaland Forum / Nairaland / General / Properties / The First Nairaland Inspired Real Estate Project (12539 Views)

Builder Needed For Estate Project In Ibadan / First Nairaland Property Investment Partnership / Are You Looking For Funding/Finance For A Real Estate Project? (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

The First Nairaland Inspired Real Estate Project by Junapril(m): 4:34am On Dec 17, 2013
With so much gratitude to almighty God and all my friends on the construction section of this wonderful blog (nairaland), I will like to launch my first NAIRALAND inspired real estate project.

My name is Badmus Shamsudeen Omotope, a builder and also an active participant in the real estate market,based in Lagos, Nigeria. Since my early days out of school, I have been searching for a way to make a great impact in the construction/real estate market starting from our dear country, Nigeria and spreading to the rest of Africa and the world at large.

After some series of participation in the marketing/sales of some real estate projects I have been inspired to want to someday be able to impact on the real estate market in a tremendous way. My inspiration grew more after I started visiting this wonderful blog and I met some wonderful friends that also added to my inspiration, just like they say "you are a product of what you are surrounded with" oga spider, skimanski, chekitaut and the rest, all builders, architects and real estate players on this blog have inspired me in a way they can't imagine.

I was an active participant in the "first nairaland real estate investment" organized by Oga Spyder. After a long time of soul searching and deliberation on how best to approach this dream of mine, I had an encounter with a friend of mine who is a Real Estate surveyor by discipline, an honest, knowledgable and experienced real estate player who believes that the only way you can make an impact in the real estate is not by agency which he qualifies as managing or selling other people's value but to CREATE A VALUE, SELL THE VALUE and also MANAGE THE VALUE you created. We make it a point of duty to always ensure that we discuss and deliberate about this dream on daily basis without an idea of how to start.

It came to a point that we agreed that we should start buying parcels of land, like a single plot of land and look for a very attractive design that can sell the property,BUILD the property and SELL.

We were looking at a startup capital of about 40million naira on the Lekki-Epe axis even though, we both did not have up to a collective sum of N1million naira. First thing we did was to get a business plan, then, a proposal, we penciled down some of our friends, past clients and relatives that we thought could be interested in this dream of ours and will be willing to part with their money. After sometime, without even giving out the proposal to the first person on our list, we had a re-think and wanted to be sure of the value we are actually creating by building up nice homes to be sold at the range of N35m to N40million each for just 2 family dwelling units, and to be completed within 6 to 9 months and expected sales period of about 3 to 9 months.

Our concerns were: What is the effect of this 2 family units at a cycle of about a year in the whole accommodation deficit in Nigeria, these homes will be strictly for people of a level of high income earners, how many professionals/artisan would be positively affected in this 2 buildings/year arrangement. Etc.

So, we had a re-think and by the grace of God and so many inspiration by everyone we came up with our first master plan.
LOTUS COLONY ESTATES.

A 50acre master planned estates to be situated around the lekki-épée axis of Lekki, with 3 different categories of structures. 1. A 3bedroom pent houses with a nice exclusive compound to park 2 cars for a sum not not more than 10million naira. 2. 4 bedroom town houses not more than 13million naira/one. and 3. A semi detached apartment not more than 22million naira. Our aim was to create a nice gated environment where virtually everything will be working and will be affordable for middle income/low income earners with an opportunity of a flexible payment arrangement.

With no capital, we embarked on the journey.
I called a friend of mine an Estate Agent that I've known for a long time with a vast knowledge in the real estate market on the Lekki Épée axis, he knows the history of most of the lands on the axis, and the land he doesn't know about, he would know how to perform due diligence on the status of the land.

So around August, 2013 we got a paper for some hundreds of acre around Monastry road, Sangotedo neighborhood to fountain spring Estates, Diamond Pearl Estates, ongoing LSDPC estates, Emperor Estates (with a building going for about 200million naira) eventhough, it was not named yet then,Peace gardens Estates by Chevron,Crown Estates and the on-going construction of an international shopping mart (shop-rite or wal-mart and so many other estates so we thought it was a good and perfect location.

Our first day of inspection, myself, my real estate partner and the estate agent decided to visit the place and we were greeted with some harassment by some hoodlums claiming to be the ones guiding the property, the people that came after us were slapped and badly disgraced that we had to thank them for treating us nicely as they did.

So, we checked the land and agreed to go ahead with the purchase even though we did not have up to 1 million naira. To be continued

9 Likes

Re: The First Nairaland Inspired Real Estate Project by mufutau55(m): 4:43am On Dec 17, 2013
Nothing is impossible, if you have the dream and the motivation, and you posses both. I may be your first customer. God bless.

Hajji Mufutau

1 Like

Re: The First Nairaland Inspired Real Estate Project by Gboliwe: 4:53am On Dec 17, 2013
Reminds me of Wunmi Allen undecided

4 Likes

Re: The First Nairaland Inspired Real Estate Project by spyder880(m): 7:07am On Dec 17, 2013
Welldone my friend. Be persistently creative, you will succeed.

2 Likes

Re: The First Nairaland Inspired Real Estate Project by Junapril(m): 7:14am On Dec 17, 2013
mufutau55: Nothing is impossible, if you have the dream and the motivation, and you posses both. I may be your first customer. God bless.

Hajji Mufutau


Thank you Hajj, you are a great source of encouragement. God bless
Re: The First Nairaland Inspired Real Estate Project by Junapril(m): 7:24am On Dec 17, 2013
spyder880: Welldone my friend. Be persistently creative, you will succeed.
Thank you boss, you made me believe it can be done. With the help of God and your great contributions, I believe this will be done.
Re: The First Nairaland Inspired Real Estate Project by rakumiii(m): 8:02am On Dec 17, 2013
Are you guys going to purchase the 100 acres?

1 Like

Re: The First Nairaland Inspired Real Estate Project by esoorita: 8:31am On Dec 17, 2013
[quote author=Junapril

It will be extremely beneficial to people aspiring to get on the property ladder in Lekki axis if you can deliver at the price you set out for your estate. You will be seen as a group of people contributing their own quota in ameliorating the difficulties of fellow Nigerians by providing some reasonably priced properties for them. We all know that there's a lot of greed in the property business most especially in Lekki axis where developers will build a house at a cost of 10 Million Naira and slap a sales price tag of 20 Million Naira on it. I wish you a successful outcome and good luck in seeing your dreams come to fruition. Cheers!
Re: The First Nairaland Inspired Real Estate Project by Fhemmmy: 5:56pm On Dec 17, 2013
Sitting on the fence for now watching and interest waxing strong
Re: The First Nairaland Inspired Real Estate Project by Nobody: 5:58pm On Dec 17, 2013
God bless u
Re: The First Nairaland Inspired Real Estate Project by Jarus(m): 5:59pm On Dec 17, 2013
Reporting...
Re: The First Nairaland Inspired Real Estate Project by Eyop: 6:00pm On Dec 17, 2013
Fhemmmy: Sitting on the fence for now watching and interest waxing strong

Fhemmy na wa for you oh! You no dey take eye pass any real estate post for nairaland grin grin

3 Likes

Re: The First Nairaland Inspired Real Estate Project by chefdoeuvre: 6:06pm On Dec 17, 2013
More power 2 ya elbows..



Meanyl.. FP tins
Re: The First Nairaland Inspired Real Estate Project by ArQueBusieR(m): 6:09pm On Dec 17, 2013
You've dreamt it. Now it's time to achieve it. Best of luck!
Re: The First Nairaland Inspired Real Estate Project by fr3do(m): 6:09pm On Dec 17, 2013
undecided
Nairaland is not a blog

1 Like

Re: The First Nairaland Inspired Real Estate Project by crackhaus: 6:10pm On Dec 17, 2013
*sitting down with legs crossed at this business meeting/presentation* grin grin
Re: The First Nairaland Inspired Real Estate Project by jamace(m): 6:10pm On Dec 17, 2013
Following keenly. cool
Re: The First Nairaland Inspired Real Estate Project by packman: 6:11pm On Dec 17, 2013
[size=50pt]wish you luck[/size] grin grin grin
Re: The First Nairaland Inspired Real Estate Project by whisper88(m): 6:15pm On Dec 17, 2013
.
Re: The First Nairaland Inspired Real Estate Project by OkikiOluwa1(m): 6:16pm On Dec 17, 2013
Following like LKT & P-Square.
Re: The First Nairaland Inspired Real Estate Project by TRILLIONIAR: 6:17pm On Dec 17, 2013
.
Re: The First Nairaland Inspired Real Estate Project by fitzmayowa: 6:24pm On Dec 17, 2013
Grabs chair..
Re: The First Nairaland Inspired Real Estate Project by vivaciousvivi(f): 6:29pm On Dec 17, 2013
#following
Please OP continue ths story!
Re: The First Nairaland Inspired Real Estate Project by IAMBREEZY: 6:31pm On Dec 17, 2013
Good
Re: The First Nairaland Inspired Real Estate Project by rapmike(m): 6:32pm On Dec 17, 2013
watching... grin grin grin grin grin
Re: The First Nairaland Inspired Real Estate Project by Ryda(m): 6:45pm On Dec 17, 2013
Plz who knw where i can do some xmass shoping
Got loads of gift to give out cuz i'll be recieving plenty too
Re: The First Nairaland Inspired Real Estate Project by Monarchmindset(m): 6:54pm On Dec 17, 2013
Booked
Re: The First Nairaland Inspired Real Estate Project by Tuntheycr7: 7:08pm On Dec 17, 2013
[size=32pt]this space is not for sale, beware of 419[/size]

1 Like

Re: The First Nairaland Inspired Real Estate Project by Firefire(m): 7:09pm On Dec 17, 2013
I wish you and your team well and enough!
Re: The First Nairaland Inspired Real Estate Project by Nobody: 7:17pm On Dec 17, 2013
I hope you have dropped a check for Seun for advertising your business or else they will ban you till year 2957 grin grin grin
Re: The First Nairaland Inspired Real Estate Project by Aboluwarin: 7:20pm On Dec 17, 2013
Nothing is impossible, i have similar vision but to rural area, my plan is turning many to land lord's with small amount of money, u pay the land and we help u develop it to ur taste.
Re: The First Nairaland Inspired Real Estate Project by segzy14(m): 7:28pm On Dec 17, 2013
Aboluwarin: Nothing is impossible, i have similar vision but to rural area, my plan is turning many to land lord's with small amount of money, u pay the land and we help u develop it to ur taste.

also on my mind too.

(1) (2) (3) (Reply)

Cement Increase / Pls Is This Pop Quotation For 3 Bedroom Flat Ok? / SANDFIELD COURT N5.5M C of O God time is the best

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 95
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.