What is BERSAMA Real Estate Cooperative Society?
Bersama is a Real Estate Investment focused Cooperative Multipurpose Society that provides its members with secured, vetted, yield-driven real estate investment portfolios that is unprecedented in the Nigeria real estate industry. This is achieved through investment in diversified real estate projects and asset classes, working with the partner developer and business consult.
This partnership ensures accountability and performance from our development partner on behalf of our members, as the invested funds are backed by underlying real estate assets.
What is the main aim of BERSAMA Real Estate Cooperative Society?
Our aim is to solve the problem of slow, inefficient, fragmented and obscure real estate investing in Nigeria by using technology, industry data, and process efficiency to more accurately assign risk profiles, conduct due diligence and confirm project viability.
In a bid to ultimately ensure security of the capital, establish preservation of the underlying asset, ascertain security of cash flow and meet expected returns/yield/dividend to members.
In addition to delivering good and attractive return-on-investment to members, interested and pre-qualified members shall be able to buy properties from the Co-operative portfolio using the rent-to-own model of payment over say a 10years period.
Who Can Join BERSAMA Real Estate Cooperative Society?
The most basic criteria of joining Bersama Real Estate Cooperative Multipurpose Society is that members must be above 18 years of age and must be of good character and sound mind. Others include but not limited to the following listed below; Individuals, Corporate Organizations, Institutional Investors and Wealth managers, Fund Managers and Private Investors, Employees of Corporate Organizations, Employees in the Public Sector,
Clubs, Associations and Societies, Entrepreneurs-Small/ Medium Business Owners, Traders, Children (the Minor’s account must be manage by Parent, Guardian, Trustee or legally appointed Proxy)
How Do I Register and Create an Account?
You can register by using the link the person who referred you sent to you or if you were not referred Visit www.bersamacoop.com, sign-up and register by providing basic information such as your name, phone number and email address. You will be contacted to fill the required form and upload necessary documents. Please note that your verification is subject to confirmation of receipt of payment.
What payment do I need to pay to become a member?
To become a member of the cooperative, you need to pay for:
- Price/Shares: N100,000.00/per unit
- One time joining fee: N25,000.00
- Annual minimum savings N15,000.00
- Annual Administrative Charge N3,000.00
- Insurance premium N 6,000.00
(However, additional voluntary amounts can be specified and paid either monthly, bi-monthly, quarterly, bi-annually or annually)
How Much Can I Buy Shares?
You can buy as many share as possible at anytime as a member of the Co-operative but a minimum of 1(ONE) share is required at joining.
Can I pay a deposit and pay balance anytime?
The acceptable payment plans are:
- Outright payment
- Other payment in installments can be discussed with your contact person
What Returns Do I Get And What Is The Frequency of Distribution?
The cooperative is structured such that investments are skewed in favor of real estate assets by up to 70% of its portfolio, whilst loans to members and other asset classes that are secure, low risk with good yield will account for 30% for liquidity purposes. This will ensure that returns on investment are high and dividend is paid annually. Additionally, dividend from real estate investment activities is paid annually on pro-rata basis based on number of share(s) owned by each member.
How Does Bersama Profile Real Estate Projects for Investment?
The Cooperative has vetting processes which are:
- Project Proposal Submitted by Development Consultant
- Examination of the Proposal and Assumptions by the Investment Committee and stress test underwriting assumptions
- Conduct diligence of the specific projects i.e. review of investment strategy, financials, legal standing, and property condition/location.
- Determine attractive risk-adjusted returns
- Agree Terms and Conditions with Sponsor
- Obtain Approval from Management Committee
- Fund Project as agreed
Can members outside Lagos join?
Yes, we have a web-based login platform that provides members the convenience of gaining access to their dashboards and personal accounts 24/7 from any location worldwide. This will enable them conduct business utilizing the tools provided by the system.
How is the Co-operative run?
Management committee members are elected as periodically as stipulated by the approved governing bye-laws of the Co-operative. They are charged with running the Co-operative on behalf of the general members in accordance to the dictates of the governing bye-laws. Another Committee, called the Supervising Committee are charged with carrying out independent checks and balances on the activities of the Management and other Committees, and report to the general house.
How many meetings do you have in a year?
The Co-operative holds her Ordinary General Meetings quarterly, Annual General Meetings once yearly and Emergency General meetings as may be necessary. The management and other committees do meet from time to time as it is necessary for efficient running of the Co-operative. Also, the Co-operative makes use of her robust electronic platform to communicate to her members effectively by way of announcements, periodic newsletters, etc.
What return can I anticipate on my investment in the Co-operative?
The Co-operative, like any other corporate entity cannot predetermine how much it will make as Surplus Year-in-year out. However, the Co-operative is guided by well crafted and enforced investment guidelines in the determination of the investments to make. Above industry average returns and the security of invested sums are key.
What is the exit plan for any Cooperator?
Any member who wishes to withdraw from the cooperative must have done a minimum of two financial years before they can apply for their full subscription. Afterwards, they shall put up a three-month notice conveyed in writing to the Management Committee provided that the withdrawing member is neither indebted to the society nor surety for an unpaid debt. After which, his/her savings is paid and the shares are paid after the Annual General Meeting for that particular year.
What is the Starter Homes Savings Scheme?
Starter Homes Savings Scheme is basically for those that want to own a house and this is where monies should be put into if your main aim of joining is to own a home.
Can I withdraw from my Special Savings & Starter Homes Savings?
For special savings, yes, you can access your special savings. Special savings can be withdrawn between 24hrs to 7 days notice while the starters homes savings cannot be withdrawn because it is tied to the housing scheme it’s more like your getting ready to buy funds for a home.
How do I make payment of my contributions and dues?
You can make payment into our account details provided below:
Bank: Stanbic IBTC
Account Name Bersama Real Estate Cooperative Society
Account Nos (Lagos) 0024850431
Account Nos (Abuja) 0025955450
Account Name: Bersama Real Estate Cooperative Society
Account Nos: 0455293993
You can also make payment online into our account or through our other payment channel (Paystack). Please ensure that at the bank you indicate your name as we have it in our records as the depositor even if/when you send someone else to the bank or when making a transfer. This will help our internal accounting process.