I have recently read of NICIL’s generosity when it was reported that it had offered an unnamed partner in the Marriott Hotel being built in Guyana a 67% share for putting US$8M in a $58M investment. NICIL authorized $31M at no interest from its coffers, a state company. I would like to entice Mr Brassington in a ‘brassonomical’ proposal.
I am currently living in Queens, New York and would like him to invest NICIL’s money in a two-family residential building. This investment costs US$0.75M. A two-family residence means that two separate apartments have been legalized (two floors). At the Marriott Hotel, return on investment is not guaranteed, and similarly, return on our investment would not be guaranteed but we have two apartments to rent and if I finish the basement we can rent that too. Assuming all goes well, each apartment can rent for about US$1400 and the basement for US$900 per month. If we get rogue tenants, then they don’t pay rent and the return on our investment will not be guaranteed. Sounds familiar, does it not?
After a few years, we can determine it to be a bad investment and then I buy the property from NICIL at a discounted price because NICIL would want to get out of the deal and would have served its purpose to catalyze me into business. I hope this letter has convinced NICIL to include me in its next ‘brassonomical’ scheme.