Hi Guys ,

Please I need real and practical advise on how to start and pit falls to avoid from the gurus.

(Focus is surulere ,Gbagada,yaba)

I am thinking of venturing into the niche of JV house renovation for rent , where we fix up a house , then rent get returns from rent for an agreed number of years.

Guys thanks for all the theoretical advice about firs,CAC ,dedication, hard work , funds but I got that down already .
I'd like advise around

1. finding and dealing with clients(families etc)

2.How many years should the average deal entail.

3.Stuff around regulations and permits

4.What are the biggest mistakes to make.

5.possible legal problems.

6.what kind of developments return the best yield(2bedroom,3bedroom,block of flats , mixed block of flats with commercial and residential spaces , plazas)

7.managing staff.

8.keeping costs low.

Please don't be afraid to be direct and blunt, if you think it is a bad idea, say so and why.

Thanks for all the wisdom you would be sharing, I hope we make at least 60 wealthy people from this thread.(including me of cos...lol)

freetalk1:
Hi Guys ,

Please I need real and practical advise on how to start and pit falls to avoid from the gurus.

(Focus is surulere ,Gbagada,yaba)

I am thinking of venturing into the niche of JV house renovation for rent , where we fix up a house , then rent get returns from rent for an agreed number of years.

Guys thanks for all the theoretical advice about firs,CAC ,dedication, hard work , funds but I got that down already .
I'd like advise around

1. finding and dealing with clients(families etc)

2.How many years should the average deal entail.

3.Stuff around regulations and permits

4.What are the biggest mistakes to make.

5.possible legal problems.

6.what kind of developments return the best yield(2bedroom,3bedroom,block of flats , mixed block of flats with commercial and residential spaces , plazas)

7.managing staff.

8.keeping costs low.

Please don't be afraid to be direct and blunt, if you think it is a bad idea, say so and why.

Thanks for all the wisdom you would be sharing, I hope we make at least 60 wealthy people from this thread.(including me of cos...lol)

My advice is don't negotiate years for returns on rent with families until you cN ascertain the total cost of the renovation.
You only require local govt building permit after you have registered your business. You greatest challenge will be the family. As regards cutting cost you needgood workmen and tag professional along like structural engineer and architect on each project or on accessment trips so that you can get the best value from each renovation works it's very important so that. More so allow to family to handle all issues with land grabbers and Omo Orile.
You can make use of renewable materials and refrabrications. We can discuss much on that.
Finally you need to discuss and make sure the how and property has complete documents very important and do a proper check on the property so far it won't be house that has been use for collateral.

akinolaolujide:


do a proper check on the property so far it won't be house that has been use for collateral.

This is Gold !!!!

It is for experience like this that this thread exists.

Thank you !

Joint Venture in real estate is what most developers take advantage of and it a sure good way to scale through the market as both risk and gain are shared among partners.

As for the one you explain up here its known as BOT Build, Operate and Transfer, it is a good arrangement but it must be carefully structured so you don't just tie your funds down without good returns. Ensure you deal with properties with a registered title and property with less family ownership (single owner property are best)

Another way joint venture is most structured is to build while the other party provide the land to build on and the total development is either shared according to the agreed sharing ratio or property sold while all the parties in the JV recovers back there investment and the ROI (returns on investment) shared according to the agreed sharing ratio. This is the most lucrative and patronize JV structure because funds are not just tie down, infact in most case, the development are fully subscribe to before building completion in hot areas.

Nevertheless, we still have other type of JV structure such as sponsorship, site and servicing etc.
But in it all you must take carefully the property title, the joint venture agreement, the location, the proposed development among others.

However,
1. finding and dealing with clients(families etc)
You get most of this deals and links to client mainly through realtors

2.How many years should the average deal entail?
That depends on your cost of development and expected returns spread across the recoverable period, using the current market value

3.Stuff around regulations and permits?
Ensure you get all drawings approved and perfect all title documents

4.What are the biggest mistakes to make. Not having a professional legal backup and dealing with unregistered titled property

5.possible legal problems.
Same as above

6.what kind of developments return the best yield(2bedroom,3bedroom,block of flats , mixed block of flats with commercial and residential spaces , plazas)?
Depends on the location but residential is best for starters. Though it yield less but the risk involve are minimal

7.managing staff?
You might not need to hire place staff on salary for a start but until you're sure of stable returns, but get professionals to do the jobs for you. The reputation you gain at startup matters alot.

8.keeping costs low??
You keep it low

I hope this helps a little, we could connect to share more ideas and genuine deals.

for information on available investment opportunities contact us at,
FIPS MULTILINKS LIMITED: Construction, Real Estate Development, Property Management, Facility Maintenance and Project Management.
44, King George V road, Onikan, Lagos Island, Lagos state.
+2348071479557
fipsmultilinks@gmail.com

Cheers

Great am folks in nairaland am on vacation and decided to do something for my fellow nairalanders no matter how small here is the deal.
Within the next one month i am offering free Architectural services for 2-clients. who are interest in developing bungalow family units and 2-interested in developing a multilevel family unit.(Duplex). the services are completely free and it covers the following

1 Brief taking and development
2 Preliminary designs,
3 finalised Architectural design
4 Construction Architectural working drawings.
5 Approval drawings.

Other requisite drawings are to be procured by the client, soft and hard copy also shall be made available for the client ( for approval purpose) for services and structural drawings.
Please note its aimed towards helping those who want to building a home for their families its does not cover those aiming at commercial developments.
If you are interested you can reach me on my email address akinolaolujide@gmail.com, or arkfrakons@gmail.com.
All the best my people.