This arrangement is still on, just working out the finer details with my lawyers. Thanks all.

Greetings,

To whom it may concern,

LETTER OF INTRODUCTION

We have the pleasure of introducing our company BK Designs to you.
We offer unique ideas and concepts in Architectural and Building designs, interior design, urban planning and construction
We have a good reputation built over time in the architectural and building sectors of nigeria with adequate job references to prove our position.
We therefore seek invitation to present our package which we are sure will be of interest to you.
Thank you as we look forward to good business relationship with you

Your faithfully
BELLO Adewale

CEO: For BK Designs
08066622810,08052304749,
08081832784

Expecting to complete the paperwork for this agreement with my lawyers today.

We are at the agreement drafting stage, I will bring up the details of this draft agreement for the perusal of interested members.

What about us that are outside the country? I am very much interested. send me an email and we can take it from there. shege2000@yahoo.com . I have followed you a longtime and I could see that passion in you.

If I have my way, I would just partner with you with funding and you retain the expertise /management of operations.

Shege2000:
What about us that are outside the country? I am very much interested. send me an email and we can take it from there. shege2000@yahoo.com . I have followed you a longtime and I could see that passion in you.

If I have my way, I would just partner with you with funding and you retain the expertise /management of operations.

I have copied your mail address and will surely send you a mail as soon as the draft document is ready. Thanks.

Is there any other person who wants me to send him a copy of the draft agreement? Please give me your email address so I can also forward to you. Thank you all.

spyder880:


I have copied your mail address and will surely send you a mail as soon as the draft document is ready. Thanks.

Is there any other person who wants me to send him a copy of the draft agreement? Please give me your email address so I can also forward to you. Thank you all.

yes ooo, i'll text/whatsapp you my email addy.

Following with keen interest

Thanks for the calls. Keep them coming.

I'm interested too.

However, apart from residential units, are you considering commercial properties such as malls, hostels etc. I think this has more value/unit square metre than residential properties.

Apart from build and sell we can also build multi dwelling units for rentals too, since the value of properties won't depreciate we can have it for long term as a source of multiple income stream. IMHO

spyder880:


Yes, but we start with single homes. I suggest we start with a duplex similar to what is on the picture above and work to expand. At the end of each sale I can pay off those who want to drop and use their funds for other personal things, while those who want to continue with us will leave their funds for the next project.

I plan to gradually expand this to become an estate sort of development, maybe one day we shall be doing 200 houses at once.

YES WE CAN!

I just came across this and think its s nice endeavour. Will keep following and if anything picks my interest. I will let u know.

spyder880:


I think we might need to draw up agreements stating the contribution plan, payout conditions, entry and exit rules and other necessary clauses. This will be signed up and returned to me while each contributor retains a copy signed by my company.

I was waiting to see this part of it.

My humble opinion.
Consider bungalows too. Even a bungalow with a penthouse as masters bedroom. The market is filled with people that can pay <15m for a house. You will sell 5 of these before u sell a luxury house. Strategy and proper market segmentation is key.
Thank you.

drnoel:

I was waiting to see this part of it.

I have been on the neck of my legal team for weeks, we are in the final stages of the drafting, my lawyer has his table full so I am still following him everyday to complete the agreement. I will dispatch this to all interested members as soon as it's ready. Thanks.

glogirl:
My humble opinion.
Consider bungalows too. Even a bungalow with a penthouse as masters bedroom. The market is filled with people that can pay <15m for a house. You will sell 5 of these before u sell a luxury house. Strategy and proper market segmentation is key.
Thank you.

Bungalow, yes with a penthouse on top. It will keep the sale price lower so we can have more sales. Good idea. Thanks.

drnoel:


I just came across this and think its s nice endeavour. Will keep following and if anything picks my interest. I will let u know.

Welcome bro, I am sure so many things will catch your attention when we start.

This will be one big project which I hope will get the attention of many big people in this country.
My lawyer read my brief and the ideas and screamed "There is hope for Nigeria!"

Patiently waiting oga 'm , i just love the fact that every property being sourced for would be in the east. This is my email kniru4shizzle@gmail.com, let me see the draft and plan for my own share.

tachukwu@yahoo.com... Will love to see the draft. Thanks

spyder880:
The journey has already started, I was in town to check out some properties for sale. I was looking for lands at good locations with good access in Enugu urban. I was taken to about 3 locations today.

I must add that I could not get any property that I liked, but the search continues today. More updates later this evening.

Enugu ground, sand not stoney and red? this must be Abakpa or Emene region lol
No mind me Ohh, I schooled in Enugu.

erico2k2:

Enugu ground, sand not stoney and red? this must be Abakpa or Emene region lol
No mind me Ohh, I schooled in Enugu.

The area is stony o maybe camera resolution. This is Trans Ekulu, phase 6 area.

spyder880:


The area is stony o maybe camera resolution. This is Trans Ekulu, phase 6 area.

Ok cool nice one, I like the hilly topography of Enugu, but that stone in the ground be the koko

After waiting so long for my lawyers to proof read my agreement and make adjustments to it, I went and took it from him today as it seems he has had little time to look at it. I want to type out the rules for all those that sent their mail addresses for them to review. Please note that the rules I made are the provisional agreement and not yet final till a lawyer will sign it. Thanks.

spyder880:
After waiting so long for my lawyers to proof read my agreement and make adjustments to it, I went and took it from him today as it seems he has had little time to look at it. I want to type out the rules for all those that sent their mail addresses for them to review. Please note that the rules I made are the provisional agreement and not yet final till a lawyer will sign it. Thanks.

Kind include justdonelli89@gmail.com in the mailing list. I am very much interested.
Thanks.

Just Donelli

These are the proposed rules for the operation of a property investment partnership between Tigerkenn Homes Ltd and some members of the public desirous of investing money for the purpose of building homes for profit.

1. It is agreed that the management of Tigerkenn Homes Ltd will be involved in the purchase of lands, and the construction of residential and commercial buildings, shopping complexes, estates and any other forms of buildings, making decisions as appropriate and as agreed by MOST members of the group.

2. It is agreed that the funding for the purchase and construction of the houses, shops estates will be sourced from interested members of the public desirous of participation in the venture.

3. It is agreed that membership of this building partnership can only be granted in in written form to each member after he or she satisfies the requirements for participation in the building partnership.

4. Such requirements for participation must include the payment of some money to purchase at least one "share" , which term shall stand for a unit of ownership and a stake in the building business partnership.

5. It is also agreed that each "share" could only be purchased by the payment of N1,000,000.00 (One million naira only ).

6. Such deposit must be made to the company accounts of Tigerkenn Homes Ltd, and a receipt of acknowledgement obtained by the interested investor.

7. It is agreed that a person, group of people or corporate body can obtain more than one block of "share"

8. It is agreed that this partnership will be conducted in cycles, such cycles must start at the start of a named project, (for example, the construction of a named building or structure). The cycle shall expire at the sale of the named building or structure.

9. It is agreed that the proceeds from the sale of each investment shall be distributed to the contributing members of the investment group, in a ratio to the units of shares they own.

10. Tigerkenn Homes Ltd shall retain 15% of the profits and the rest distributed to share owners.

11. It is agreed that any member that wishes to withdraw from the partnership, or any investment cycle before the end of the cycle must have to forfeit his benefits at the end of that particular cycle. A member will also free to re enter the investment partnership any time he meets the re entry criteria as stipulated by the management of Tigerkenn Homes Ltd.

12. It is agreed that the management of Tigerkenn Homes Ltd will retain the details of each investor. Such details will include their full names, phone details and next of kin information.

13. In line with our company policy, the confidentiality of our clients and investor's details remains a top priority. We always safeguard all personal information belonging to all our clients and investors.


(Please note that these are the draft proposed rules, reviews and more suggestions are allowed before we print the agreements)

Looking forward to your comments.

Thanks.

spyder880:
These are the proposed rules for the operation of a property investment partnership between Tigerkenn Homes Ltd and some members of the public desirous of investing money for the purpose of building homes for profit.

1. It is agreed that the management of Tigerkenn Homes Ltd will be involved in the purchase of lands, and the construction of residential and commercial buildings, shopping complexes, estates and any other forms of buildings, making decisions as appropriate and as agreed by MOST members of the group.

2. It is agreed that the funding for the purchase and construction of the houses, shops estates will be sourced from interested members of the public desirous of participation in the venture.

3. It is agreed that membership of this building partnership can only be granted in in written form to each member after he or she satisfies the requirements for participation in the building partnership.

4. Such requirements for participation must include the payment of some money to purchase at least one "share" , which term shall stand for a unit of ownership and a stake in the building business partnership.

5. It is also agreed that each "share" could only be purchased by the payment of N1,000,000.00 (One million naira only ).

6. Such deposit must be made to the company accounts of Tigerkenn Homes Ltd, and a receipt of acknowledgement obtained by the interested investor.

7. It is agreed that a person, group of people or corporate body can obtain more than one block of "share"

8. It is agreed that this partnership will be conducted in cycles, such cycles must start at the start of a named project, (for example, the construction of a named building or structure). The cycle shall expire at the sale of the named building or structure.

9. It is agreed that the proceeds from the sale of each investment shall be distributed to the contributing members of the investment group, in a ratio to the units of shares they own.

10. Tigerkenn Homes Ltd shall retain 15% of the profits and the rest distributed to share owners.

11. It is agreed that any member that wishes to withdraw from the partnership, or any investment cycle before the end of the cycle must have to forfeit his benefits at the end of that particular cycle. A member will also free to re enter the investment partnership any time he meets the re entry criteria as stipulated by the management of Tigerkenn Homes Ltd.

12. It is agreed that the management of Tigerkenn Homes Ltd will retain the details of each investor. Such details will include their full names, phone details and next of kin information.

13. In line with our company policy, the confidentiality of our clients and investor's details remains a top priority. We always safeguard all personal information belonging to all our clients and investors.


(Please note that these are the draft proposed rules, reviews and more suggestions are allowed before we print the agreements)

Looking forward to your comments.

Thanks.

It will be nice if the contribution of tigerkenn homes Ltd from purchase of land to construction is valued in number of shares just like other prospective investors that will bring just money.
Then further explanation on the 15%

Kcinho:

It will be nice if the contribution of tigerkenn homes Ltd from purchase of land to construction is valued in number of shares just like other prospective investors that will bring just money.
Then further explanation on the 15%

Thank you Kcinho for your contribution. If I am to evaluate my contribution in shares, it will probably run into about 3 shares, giving that my contribution will be mainly the "leg work" aspect of the work, which is usually very tedious. I have already spent some money looking for lands, working with lawyers and agents, and making a lot of preparations behind the scenes.

But in my business model, I look at doing things to set the business rolling, so I can take a smaller profit to make sure we set out smoothly. What I will be offering is the buying of the land, preparations, actual construction and taking care of the environment till the house is sold. Both the technical and financial management, if I am doing all these for a client, I cannot do all for N3 million naira.

My asking for 15% is to make sure we start off first, we may have to review this in consequent cycles.

spyder880:


If I am to evaluate my contribution in shares, it will probably run into about 3 shares, giving that my contribution will be mainly the "leg work" aspect of the work, which is usually very tedious. I have already spent some money looking for lands, working with lawyers and agents, and making a lot of preparations behind the scenes.

I have questions based on this comment..

1. Does the cost of building include the preparation, logistics, "leg work" and other miscellaneous expenses?

If yes, see comment in the reply below..
If no, I think it should be included and adequately accounted for during post-construction and sales report.

2. In a situation where the cost of construction is estimated to be "X" and a certain number of interested investors subscribe and that exact amount is generated.; then due to certain contingencies extra fund is needed, how will it be treated?

3. If the amount generated from investors does not cover the cost of construction, will the project be terminated or Tigerkenn homes will subscribe the balance?

spyder880:

But in my business model, I look at doing things to set the business rolling, so I can take a smaller profit to make sure we set out smoothly. What I will be offering is the buying of the land, preparations, actual construction and taking care of the environment till the house is sold. Both the technical and financial management

@Bolded
I think we have to be clear on this.
If the 15% includes technical and financial management as well as project initiation and set out as stated in your comment it means it won't be included in the construction cost again so we have to define what and what it covers.

I don't know if you understand what I mean


Just Donelli

My questions/comments:
What happens to an investor's share if he dies?
Again, what is the liability of the investors if the partnership gets sued by contractors, workers, etc?
How will disagreements between Spyder/investor(s) be resolved?
I sent you an email requesting a copy of the agreement, Spyder and a yet to hear from you

Donelli:


I have questions based on this comment..

1. Does the cost of building include the preparation, logistics, "leg work" and other miscellaneous expenses?

If yes, see comment in the reply below..
If no, I think it should be included and adequately accounted for during post-construction and sales report.

2. In a situation where the cost of construction is estimated to be "X" and a certain number of interested investors subscribe and that exact amount is generated.; then due to certain contingencies extra fund is needed, how will it be treated?

3. If the amount generated from investors does not cover the cost of construction, will the project be terminated or Tigerkenn homes will subscribe the balance?



@Bolded
I think we have to be clear on this.
If the 15% includes technical and financial management as well as project initiation and set out as stated in your comment it means it won't be included in the construction cost again so we have to define what and what it covers.

I don't know if you understand what I mean


Just Donelli

Honestly, I have been trying to reread your comments to make more meaning from it, but let me try again to expand on my earlier comments above.

1. Does the cost of building include the preparation, logistics, "leg work" and other miscellaneous expenses?

1. What I term as the cost of building in this particular venture will be the items bought from the market and other people hired to use the materials to make a home. It also includes all logistics from the purchase of land, paying agents, clearing or getting the site ready, inception of the building proper. The cost of building is exclusive of my charges for supervision and the running around to buy the land and build the house, then taking all other decisions necessary to keep the business in profit.

2. In a situation where the cost of construction is estimated to be "X" and a certain number of interested investors subscribe and that exact amount is generated.; then due to certain contingencies extra fund is needed, how will it be treated?

2. There might not be any contingencies in the project execution if there is a sudden rise in the cost of building. My job will be to ensure I use the actual amount collected to deliver the exact stage agreed. I have a method I use in my projects which allows me to pay for materials upfront and then use at my pace, and my pace is always fast. I don't usually ask my client to bring in more money if prices change.

3. If the amount generated from investors does not cover the cost of construction, will the project be terminated or Tigerkenn homes will subscribe the balance?

3. There might not be a situation like that if we all agree on a project at an agreed amount. My job is to ensure compliance to agreed terms. Leave the balance for me to handle. Like I do in all these projects I build, I take a lot of steps to prevent a wide variance between budget and actual by buying my materials ahead of the project.

Once again, by construction cost, I mean only those materials bought, labor and workmanship paid to various workers and logistics to carry the materials around and safe. My cost for management and supervision/financial management will be my own contribution which I hope to earn me 15% of the profits while we distribute the rest according to the contributions of everyone.

vivixander:
My questions/comments:
What happens to an investor's share if he dies?
Again, what is the liability of the investors if the partnership gets sued by contractors, workers, etc?
How will disagreements between Spyder/investor(s) be resolved?
I sent you an email requesting a copy of the agreement, Spyder and a yet to hear from you

Sorry about the email, I find it difficult to operate those mails now, am always on the move. Use whatsapp to contact me for a faster reply. Thanks.

What happens to an investor's share if he dies?

If an investor is demised (God forbid as we all will eat the fruits of our labor) but in the event of death, every investor who completes a form I will give them to fill must provide a next of kin. I mentioned this above. His proceeds will be paid to his or her next of kin on our forms.

Again, what is the liability of the investors if the partnership gets sued by contractors, workers, etc?

Like every other business venture, every investor, including Tigerkenn homes who stands to benefit from this venture will share every gain or loss as to the ratio of their contribution.

How will disagreements between Spyder/investor(s) be resolved?

By deliberation, and a vote on points raised from the dispute/disagreement by all members who bought into this venture.

Thanks.

In the absence of any other questions, I suggest we start this investment partnership so we can benefit from current low prices. Cost of lands may increase before we get ready.

spyder880:
In the absence of any other questions, I suggest we start this investment partnership so we can benefit from current low prices. Cost of lands may increase before we get ready.

What do we have... ?
What do we need...?


Just Donelli