The Real Estate Co-operative society, operates very much like a Real Estate Investment Trust  [R.E.I.T.S] and an Investment Club. Here, people pull their funds together as part of the co-operative society and the co-operative then invests in real estate on behalf of all its members. The returns from the real estate investments and then shared to members annually.

As a passive investor, this might be an option to consider as you get the benefits from owning real estate without the hassles of the activities involved in purchasing, managing and disposing of the real estate asset. The Co-operative society is set up in such a way that their real estate partner -Realty Point LTD (a veteran with 15 years experience in investing in real estate investment clubs in Nigeria) and other Real Estate professionals take investment decisions on behalf of the members, to maximize returns on funds invested every year. 

Some of the real estate investments includes

-buying up bulk plots of land for sale to the public and to members, 

-buying and then  renting out property to the public and its members and

-developing properties for sale or/and rent to the public and its members.

The profit made from these real estate transactions is then shared as profit to members at the end of the year after the Annual General Meeting.

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OTHER BENEFITS TO MEMBERS OF THE CO-OPERATIVE SOCIETY

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There is the Starter Homes Savings scheme, which was created so that members can save money with the co-operative to qualify to 'buy' and move into a property and pay it off over a number of years, under a Rent-To-Own model, which is a type of mortgage facility.

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In addition, you can take a loan at reduced rates than the prevailing interest rates in the market. 

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As a fully paid up member, you are get a group life insurance coverage, to a maximum value of about N500,000.00* 

To become a member of the society, you need to purchase a minimum of 1 share to become a part of the real estate business and, in turn, you earn a pro-rated share of the potential benefits that can be derived from investing in real estate by the society.

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The current initial value of a share is N100,000.00, for you to become a member in the co-operative.

However, there are initial set-up costs and annual payments required to continue to be a member, totaling N49,000.00, bringing you initial cost to N149,000.00.

To buy additional shares, you only need to pay additional N100,000.00 per each share.

In the following years, you will need to pay a minimum of N24,000 to continue to be an active member of the co-operative which covers ad ministrative charges, a compulsory minimum savings and group life insurance.

Members are encouraged to make additional voluntary amounts at any time.

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Any member who wishes to withdraw from the cooperative shall put up a three month notice conveyed in writing, 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.