Eyop:

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

Not my fault oh, i just think real estate is the main thing and still my dream but distance has been my biggest

Tuntheycr7: [size=32pt]this space is not for sale, beware of 419[/size]

Frankdamaxx:


AND MY SON wOLE.

esoorita: [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!

Eyop:

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

Junapril: Oga fhemmy no de gork ooo. Faithful nairalander.

My Brother, No other business or investment is better than real estate and my wife is sold to Real estate and for me to make sure Madam is willing to go back to Nigeria even to visit, i could use stuff like this now

rakumiii: Are you guys going to purchase the 100 acres?

jeffizy: Realistic business plan. Kudos.
I will like to know if your partnership is open.
Kindly PM sir.

jeffizy: Realistic business plan. Kudos.
I will like to know if your partnership is open.
Kindly PM sir.

amiskurie: i'd have love to be part of these but I have been so involved in other ventures....I mean no time for me at all.also I have been so cautious doing faraway business.

Humanbeans: @junapril, I'm interested in becoming a partner. Just see my details on my profile page. Thanks

warrior01: Even though I wouldn't like to be seen discouraging nobody, but some guys doesn't have up to one million and they want to build an estate worth billions. Hmmmmn! BEWARE OF 419. my 2 kobo

Eyop:

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

Junapril: So, we checked the land and agreed to go ahead with the purchase even though we did not have up to 1 million naira, i did not have the confidence, i knew i had to put up the courage even though sometimes it feels too big for me to say. We requested for the documents of the land and asked for the asking price. We got a CERTIFICATE OF OCCUPANCY as document and they offered to sell each plot at the rate of 4.5million naira each, which makes the total amount for the land to be N1,350,000,000,000 (One Billion, Three Hundred and fifty Million naira). I was so scared and was almost trembling at the price of the land alone. But we had something in mind, we knew everything is possible, we might not know how but we know we can always work round it. So we sent in an offer letter for the land to be discounted to N3million naira/plot and asked for the of being able to split up payment over a period of one year. The first payment was to be N300million initial deposit and the remaining spread over a period of one year. We sent in our offer while we took the document in to the Ministry of Lands. The Land document reflects that it has a Certificate of Occupancy which covers over 200 acres of Land in that environment. We were happy but wasnt sure if the land has any form of encumbrances.
We needed to pay for the advance payment of the land and hoping to get on site, get the place cleared and start building so that potential customers can visit the site to buyt upwhen they see the prototypes of what they are paying for. so, including the funds for development of structures, we were looking at a start up capital of about N500million naira
Now, the question was, HOW DO WE RAISE N500MILLION NAIRA considering the fact that we did not want to go through any bank because of the interest and the interest rate. So many companies liquidates over inability to repay bank loans and some would have to go hard on their customers so as to be able to service their bank facilities which takes away the ease in property acquisition as promised by us.
So, the only option we had was through equity contribution.
My partner and I decided to pen down everyone we knew could have up to 20million naira and above. We wanted to talk to about 10 people to make them contribute 50million naira each which will total N500million naira. We knew not everyone would pay all or some will not even pay at all but we wanted see what we could come up with so that we could meet the omooniles and conclude transaction.

We thought of how best to approach our potential investors in a way that would make them believe in our project and would make them bring in more people.
I started talking to a client that we just finished up the construction of His house, so he gave us a time to come for a meeting'.

But you know the way people are, from that day he stopped picking our calls except when he has something to discuss about his house and i just laughed because i knew it wasnt going to be so smooth ride ........ctd

Junapril: Thank you boss, will give that a shot even though we have a lawyer already that works in the capacity.