I Know 6 Sense Will Create Housing Solutions Investors Need in Nigeria and Diaspora - Jim Iyke
James Ikechukwu Esomugha, popularly known as Jim Iyke, is a veteran Nollywood actor and businessman who expressed optimism that 6 Sense is best positioned to create housing solutions to Nigeria and diaspora
The veteran Nollywood actor and businessman Jim Iyke, in an interview with Blessing Bature in his office, Abuja, gives insight into his motivation to delve into the real estate sector.
Why did you come up with this; and how much have you contributed so far in the real estate sector?
Many people know me as an actor and executive producer and director in movie industry which I have been for 2 decades and half actively. It has been a surprising to many people that I have been in real estate for about two years. I started with Cistans where we primarily acquired lands and we have clients that take these lands for development.
We usually create site offices to this end because of what I do mainly for a living; it overshadowed all that I endeavoured for a long time. Recently, I decided to veer completely into the real estate sector.
I originally own a production company called 6th Sense Production where we had one or two successes in Amazone and Netflix that we produce 6th Sense. So we created that a couple of years ago. Having been a developer, I was also into construction, marketing and sales of property. I knew there was a need to proffer solutions with already existing firm.
The main challenge of a developer is always how to sale his or her property. To convince the owner of the property to give you his property to sale and if we can fit into that middle ground, when we can complement each other need. That what brought the idea of 6 Sense coming, hence we stand in the middle as developers as much we can approach other developers knowing well we can talk to developers that “look you can’t use your resources to set up the marketing department which is too expensive.
Collapse your interest with us the middle ground of the stake, hence we have very robust clients who can always come into our property space and review what we have. We have cooperative, people in diaspora. Average Nigerian will take you seriously “Jim Iyke can fit anywhere without money. It has been our assurance so far. For the fact that they know that I have learnt a lot in the movie industry makes it a soft landing for anybody that ventures to the sector to invest. 6 Sense is currently undertaking a massive housing scheme in Ibadan, Oyo state. I have diligently training myself over time through symposium online classes and has arduously come to understand the business.
For you to thrive, there must be something you are doing well that others are not doing I know what I am doing. The reason that I did not come out very strongly in the beginning was because I was going through the phase of preparation. I don’t believe in just coming out of the blues, making claims to an endeavor that requires a very high standard of professionalism.
I decided to go through the step by step process. I don’t give myself any breakout in commence. If there was any slack, I understood the nuances of what was needed and put myself on the space and trained myself properly. I had the right people to mentor me. The owner of Princess and Princess for instance is the owner of Good Homes, he has been a mentor and big brother and is also one that I have done business with.
So a lot of people don’t even understand that I have been gone through, you know. I took him on as a mentor. He showed me the ropes. I strongly refused to come in the forefront and establish myself until I felt I was ready. So to that end, that is part of what I do.
Giant entities in real estate collapse their sales and marketing interest in 6 Sense and we manage that for now.
We have a good partnership with them and we have done it for more than a year now. Our main partner is Good Homes, hence we have Memorandum of Understanding with them or a year now. I has been a very strong symbiotic relationship. We are here to stay as we are doing it strongly.
For now I have about 55 marketers working for me while in house staff is about 8, relatively young guys with good experience in the sector.
The business is not older than a month from the core establishment till now. We have been to many countries unlike others because I carefully studied every aspect of the industry, hence I know 6 Sense will create the solutions very easily. One of the ways we did it, is the issue of diaspora.
We have lot of brothers and sisters whose concern is how to establish back home as many send money to their relations for establishment and get lot of excuses at the end which was not encouraging, as I quickly noticed that and partly as I spent most of my life in USA, hence we have been able to partner with good consulting firms in Europe, UAE, America and many other areas as one of our core partner based in Dubai.
6 Sense stood on that gap of which we assure you not to worry any more, all your things are save, your investment is with us. We create source which will be easy for them, no matter any part of the world you are to monitor their investment through high-tech method. We advise them not to speculate. Just invest and to go sleep.
We advise when to buy and sale. Where to rent any type of apartment. We stand as a consultant from beginning to the end. We have in-house architects that work with us, Surveyors. Marketers and others is a complete team. Ours is think of your vision and go to sleep. Due to how we created our partnership across the board is always easy to access your investment anywhere in the world. Is just a question of what you want and how you want it and where you want it? It’s been high note of concern by our people a long time and how to do it.
Another thing we specialise is what I term cross coordination investment by other African countries. They understand the investment in Nigeria but the fear of how to do it, that is where we come in. We stand in that gap. We invite them over and show them things, as long as they see what they are looking for we advise them and stood the challenges and advantages and ask them to go back to sleep. We stand for them. The paper work and others we deal with them, so they don’t need to worries. What people shy away in partnership or consultancy is the payment. But if you are able to reach out to trust people like us, when you are sure of whom you are dealing with. We are easily accessible, trust and worthy, no high level of insurance than that.
Confidence has been a thing of concern when you build that in your client, but do you look at FCT only, hence there are other opportunities in other state. Secondly what must have inspired you leaving acing which you are known for into real estate?
6th Sense understand the market well for you to strive well as entity, you must be able to do something extra ordinary other are not doing. As we are a month old, if you don’t know, you will think we are 5 years old because of our experience. What is the caliber of your partner? That is the first thing to consider. We have giant cooperation behind us. People who can assure you as far as Nigeria is concern that we can find you what so ever you want. Abuja is our place of choice because we reside here. Real estate has taken such a global scale with high technological effect that nothing is impossible nowadays. It can be done anywhere with computer, just question of collaboration.
For 3 years I did it by myself until I went back to know more that need to be done. I can stay here and sale a property anywhere in the world. What I want is information about the property. I have agent almost everywhere in the world, but remember that there is a place where technology stopped. Human error takes over from there. To forestall that human error that is why you must have agents and partner in other countries. I just sold a property in Dubai recently, just easy. What the buyer did was just to indicate interest here, I then called my agent in Dubai who did the background check and that was all. 6 Sense do business everywhere in the world We have house from N10m to N10bn and N500,000 to B2vb depending on what you want and your budget.
Why I chose Real Estate is because I was born into it. My father is a construction engineer; that is where I grew up. Most of the good buildings in Garki (Abuja) were built by my father’s company. He was very active in that sector. I usually go to his site and work then.
My father never believes in giving you free money for doing nothing; that is the kind of training we all in the house got. So I was used to site and construction. I can basically tell you how much and how many blocks will complete a bungalow, etc. I was born and brought up with that. It was envisaged I would have taken over my family business, but reverse was the case. Though there was a disagreement when I decided to go into acting.
There are three endeavors in life. The gift that come actually to you. I believe mine was actually to become an Actor which is the love of my life. There is another endeavor that you are born with, the one you met at home that brings bread and butter to your house that may not come naturally but must come without struggling because you are born with it. To me Construction is mine. I grew up with it. I knew what it took in the time of dryness in the real of construction.
I understand construction has been on the existence. I understand what is needed. I did not go to classroom to understand it, no but I really know the process. The third Endeavour is the later part of your life. You are at the latest part of your life, from your late 60s upward where the zeal of love is gone, just harvesting. For young people like me is to find endeavor that will suit your passion. I have given the better part of my life to the other sector. I understand it, have mastered it.
I am at the second part which I was born to do. This is what I understand to be business. I cannot make mistake which others has made because early in the day I saw what it cost my parents. They put in their best to serve their clients and they got good reward from it.
Trust must be rendered it does not matter who is the giver or taker; there must be trust.
It is that trust that will form your gold.
I personally don’t do business with my family members; that is my family life. It’s just matter of principle.
Fault may not come directly from them. A stranger will take the responsibility given to him or her seriously than your relation. They will understand the consequence if he or she fails than a relation. Likewise, I cannot dash or lend money to a relation rather I will give and ask him or her to look elsewhere to complete in case he or she come for borrow.. I learnt all this principles from my parents.
But have you left the movie industry?
No. I never
You said 6th Sense is a month old. How would you want to be remembered or look at in the area of housing development in the next one year?
6th Sense is working seriously to become a one stop global housing solutions provider in Nigeria. I am not new in the business. I as earlier said, my dad was a construction engineer for years. I was born and brought up in the industry. 6th Sense will create a reputation in people in diaspora, foreigners, investors from every all works of life. People will stand up and give good account of 6th Sense; that is what I want 6th sense to be remembered for.
Why do some actors bring their screen character to real life; and why are they having financial challenges especially when they sick?
Most of us in the entertainment industry don’t manage their resources very well.
Financial literacy lacking. All depend on how you structured yourself.
Many of us did not prepare for time of dryness and such affect seriously. Not as if big money is not made by many of us. We made money but lack of management at your early days must know how encroach if there is dryness.
I am not encroaching on any ones affairs, not at all rather I have people that the moment I am going wrong, they will quickly call me to order. I started business early in life. I was always do business with my late mother. The question is who are the people around you? The birds that flogs together flies together. Who is your mentor? Show me the circle of your influence, I will tell you what you will be in 5 years. I always seek good mentors, people who are successful under endeavours.
Incase my endeavours stop paying me, there will be other doors that will pay. I always taking time to educate myself properly. Financial illiteracy is really lacking in the entertainment industry, he added.
