Cornell Realtors is a startup real estate company with its core activities including but not limited to
1. the establishment of serviced estates
2. sale of serviced plots
3. maintenance of estate

Our primary business location is lagos and the current sites available for acquisition are located in the outskirts of lagos and the surrounding environs of ogun state.

we require partners for financing to make acquisitions of the acres of land required to site low cost estates and put in place necessary documentation.

the real estate industry is booming and will continue to boom hence,it is a wise choice to invest in our company.details of our proposal are available to be sent be email.
please call yinka on 08097026097 or email delafruita@yahoo.com or delafruita@live.com

We have decided to include a summary of our proposition for the perusal of the general public.

Business plan for Cornell Realtors

Summary

The governments of lagos and ogun states realised a long time ago that if their dream of housing for all is to be accomplished,the private sector would play a big part hence their decision to encourage the establishment of real estate companies with the mandate to provide affordable housing for the masses.however,due to massive interest rate from banks and other bottlenecks,most of the real estate companies decided to engage in the sales of serviced plots within their estates.this means that rather than build and sell on mortgage,the companies acquire the land with the support of government,sell at cheap rates and the subscriber builds his house based on the architectural plan as approved by government.the duty of the company is to ensure all basic amenities are provided and to continue to manage the estate.

Cornell realtors is a company that is set up for the sole purpose of investing in the real estate industry in Nigeria.we intend to actively engage in the following
Creation/establishment of estates
Sale of serviced plots within the estates
Management of estates

The product

At Cornell Realtors,our only product will be the serviced plots for sale within our estates.these lands will be acquired from the host communities at an agreed rate and with the consent of the government.for the next 1-2 years we intend to be localised within Lagos(outskirts) and the surrounding communities of Ogun state.this decision was borne out of the fact that Lagos is already overpopulated and its development is moving towards the outskirts especially towards ogun state.

Target market

It is common knowledge that everybody wants to own land and build their own houses however for purpose of our business success,we had to determine the group who are most likely to patronise us and we decided Our target group will consist people of the age grade 26-45 and will be average income earners.these people are most likely to be interested in acquiring a plot of land and will also be able to afford it.

The proposal

The promoters of cornell estate are people who have been players in the real estate industry having worked for organizations in the industry and having had partnerships with some others.we believe we have the required knowledge,connection etc required to succeed in the sector.we require investors who are willing to partake in the goldmine the real estate industry represents.cornell realtors will be a limited liability compant with authorised share capital of 1,000,000(one million) units of which 690,000(seven hundred and ninety thousand) units is available for willing investor(s) at the rate of 20naira(negotiable) per share.any acquisition of up to 20% results in the investor becoming a member of the board of directors

Anticipated expenditure

In order to be successful in the real estate industry,we have have highlighted certain areas we will need to take care of which are of immediate concern
Incorporation-Cornell Realtors will be registered with the corporate affiars commission
Product-we are currently in negotiation with three families in the agbara-igbesa-atan axis for expanse of land ranging from 30-100 acres in size.Also we are in negotiation for 70 acres of land in ifo and another 40 acres of land in apa,badagry.our first priority is to conclude negotiation and take possession of the most favourable of these options.
Marketing-after taking possesion,we will Immediately need to embark on aggressive marketing via leaflets,handbills,radio,social network etc
Office-we will need to set up an office from where we will coordinate our affairs.
Documentation-after acquisition of the product(land),we will need to get documentation such
Survey plan
Layout
Certificate of occupancy etc
This documents are necessary to convince our subscribers-to-be of our genuity.its not compulsory we get the documents infact most existing estate developers dont get proper documentation for months and even years but its our desire to standout and do whats best for our clients.
Construction:despite the fact that our estate sells only serviced plots,it will be our duty to engage in some construction especially the erection of a security post and perimeter fencing.every other construction will be taken care of by the profit from the business

Return on investment

Investment in cornell realtors is going to be very profitable at the long run.to highlight the benefits available in the real estate industry,we will paint a scenario.
Assuming cornell realtors concludes negotiation with iduboluti family of igbesa for 50 acres of land at the rate of 1,200,000(one million two hundred thousand)naira per acre
Total=1,200,000x50=60,000,000
Survey/layout=3,000,000(approx)
Processing of a global C of O=5,000,000(approx)
Marketing over a period of 1 year=2,000,000(approx)
Total cost=70,000,000
Assuming a plot of land is sold for 300,000 in cornell estate and the price remains static.
300,000x6=1,800,000 per acre
Total selling price=1,800,000x60=108,000,000
Profit=108,000,000-70,000,000=38,000,000
N:B. The above is just an eample. And does not represent an actual transaction carried out by cornell realtors or any other estate developers.

Risks

We have been able to identify the possible pitfalls that may occur in the course of our business and they are highlighted below:
Competition: There exist over 40 estate developers in the axis we intend to localise our business and some of them have been in the business much longer than we have.however,we have put most of their actiipvities into perspective and have decided to model our business after the most successful one.thats one of the reasons we have decided to proceed with documentation and construction immediately after acquisition rather than use the conventional method in which companies acquire parcels of land,engage in marketing,then they use proceeds to undertake documentation and construction.we believe when we use funds from this offer to do these things,our estate will be more attractive to prospective land owners.
Legal tussle: there is the possibility of legal hurdles arising especially in the process of acquisition.this possibility arises because of the fraudulent nature of some land owner families.to avoid this pitfall,we will be bringing our experience and connection in the industry to bear.we will as well be recruiting a reputable property lawyer(chamber) and surveyor on a retainership and it will be their duty to do all research on any parcel of land we intend to acquire.
Sales glut: Another possible pitfall in the industry is sales glut.its in our bid to avoid this pitfall that we have decided to take the above stated steps to make our estate attractive.it should be noted that lands are sold in the thousands of plots daily and a sales glut will most likely occur to a company that hasnt done its due dilligence.in addition to the above stated steps,we will also be recruiting an effective marketing team,we have also developed a marketing strategy which isnt been used by any company in the industry.we believe this steps will make us one of the top players in the industry in the nearest future.

Forecast

As stated earlier,we will be localised within the lagos and ogun state region for the net 2years.after that we intend to spread our tentacles to other parts of the southwest and in the net 5 years,we intend to move to other parts of Nigeria.
We intend to take off operationally (with the caveat that our investment target has been met) in all aspects by the 1st of July 2012 and afterwards,it is expected that the board of directors will meet every quater while a meeting of all shareholders/partners will take place yearly beginning from December 2012.we epect that by December 2013,we will be able to begin to pay out dividends to our shareholders.the proposed structure of our earnings distribution goes thus:

July-December 2012

Profit after tax will be ploughed back into the business

January-December 2013 and beyond

20% of PAT will be paid out to shareholders as dividend
30% of PAT will be retained earnings
50% of PAT will be rolled over to operational expenditure for 2014

Conclusion

Investment in cornell realtors is an investment of a lifetime.please note that this is just a summary of our business plan and details will be available on demand.any further enquiries can be directed to delafruita@yahoo.com or 08097026097.we look forward to doing business with you.


N.B. We realise some people may have issues with the value of investment per share and would probably do a lot of critical assessment based on facts such as:
A startup company cannot be valued as such
The company is yet to take-off operationally
And many other objections.however we pre-respond to all such objections by stating a few facts
Cornell realtors was created for one purpose only:for high profitabiility.the proponents have the required experience and leverage but are handicapped in the area of finance.the roadmap has already been drawn and we intend to follow it to the latter.
Investing in a startup company might seem risky but it is startups that become corporations.
We implore our would-be investors to do their due diligence,meet with our team and assess our offer on its merit and on its prospect/viability rather than what we have on ground at the moment because doing so could mean losing out on a potentially good,lifetime investment.

Thanks
Afolabi Olayinka
For
Cornell Realtors
Housing for all

we have decided to address every issue or concern raised by any would-be investor on this page so that it serves as further information to others.in the past five days,a recurring question has been what the minimum investment can be.we want to state that we have do not have a minimum investment level.we decided to open up our business to anyone interested in making a good investment regardless of their financial status.however,it is still our prerogative to accept or reject investment offers.

in response to an inquiry,we will like to state that we are open to non-financial partnership in areas that are required for the success for our enterprise such as survey:layout,architecture,legal services etc

@Delafruita

You will have to restructure your offering to get serious investors. You are offering 69% of a yet to be establised company for N13.8M? How do you justify the 31% holding you will have? What are you bringing to the table? You also seem to think you can dictate how the company should be run and how profits should be distributed with only 31% ownership?

This would make more sense if you already own the land and want investors to come and partner to help develop the land to make it marketable.

If you really have the expertise and local knowledge you say you have, the mostly likely offer you would get from any serious minded investor would be to buy the land (after due diligence) in their OWN company name, bring you in as marketing/development partners on an agreed commission basis and perhaps give you a mandate to market the plots exclusively.

thank you for your informed opinion.we have entered into such partnership and even now are involved in 2 estates.however,we decided to take this step so as to fully implement the ideas we have on OUR own project.as for the cost of 69% investment,based on our knowledge of the sector,we know that the returns the investor stands to get within one year is gargantuan and the returns continue to come as long as the company continues to succeed.
as for dictating how the company is run,well it was stated in the proposal that acquisition of a certain % ensures a place on the board of directors meaning that investors would also be part of the decision making process.there will be quaterly meetings of the board and yearly meetings of all shareholders.at such meetings,decisions will be taken by all stakeholders
the decision to hold on to 31%.was.borne out of a desire to be able to follow through with our plans for the company.we bring to the table one of the most important ingredients necessary for the success of the venture:knowledge of the industry,connections within the land owners,an idea of the process to be followed etc.sometimes this attributes are worth much more than money.

as was stated in the proposal,we are in negotiation with certain families for expanses of land varying in sizes.we have reached a conclusive stage of negotiation and any of the lands we decide to acquire will be a good buy.however,we will not proceed without the approval of our board of directors which will undoubtedly include representatives of our investors.every decision(including profit sharing) will be taken by vote.as stated,we have put out a proposal which will undoubtedly be negotiated upon and compromise reached.

thanks again for your input.we would like to reach you for further discussion on how best to proceed.please leave us your contact details

We can be a partner on supply of granite stones. We have huge account with quarry owners and also we have trucks we use to transport our stones

Olulay@yahoo.com

We can be a partner by providing the IT infrastructure you might need....we have a real estate application that we have built....we can also support with a website. info@olivesolutions.com.ng

we want to thank all those who have indicated interest in partnering with us.we would like to state that in the last couple of days of discussion and negotiating with would-be investors,an overwhelming number of them have stated a preference for development of the estate(building houses in the estate) rather than sale of serviced plots.we have taken this into consideration and as was noted in the proposal,our hinderance in that direction was availability of funding outside of the commercial banks.we have put our consultants to task on what would be required and the feasibility of the project and we expect a feedback in a few days.thanks

we can partner with you by giving you good hands to build your structures cos we are a civil/structural engineering company with a whole lot of experience in the building industry. we are into constructions of buildings, road, bridges, borehole and all civil works.

Contact us by sending a mail to bosholake@gmail.com

@OP

Hope its not too late to say I like the idea and would like to consider partnering with you.

Can you send me a detailed proposal and other information at livingstone2k1@yahoo.com?

Expecting yóur response.