WITH 200K ,SHOULD I OPEN A BAR OR BUY HALF PLOT OF LAND??

Bar, as in restaurant?. Do you have experience in this field?

Did you study its statistics:

investment,

expenses; including employee salaries,

profit and loss spreadsheet,

location; is it conducive?

How often could you equip another 200k?

@Emipree Thank you very much, I don't have experience in it that much. I go to bars at times drink and see How they do it.I always think that I can do it.
Am looking into Lagos mainland anyway, not gotten a location yet and none manpower yet .

Another option i have is to raise 100k with the 200k to buy half a plot of land.
what do you advice brother?

^Then, in that case, you will have to find time to study how it works. I am sure it will cost you more than 200k. And consider stress attached to it. Point is study the protocols and make your decision.

Plot Of Land

Stress free

No salaries to pay

Nothing

When you do buy land, make sure you get necessary legal documents. You good to go.

Once you secure a land, securing the land itself is next. Your land will always be there.

You can plant and harvest, you can create a small business like fish ponds or poultry etc, you can rent (with cautions) and earn small monthly income until you ready to develop the land.

#justmyopinion

@Emipree, mostly appreciated, I think going for land is a better choice as analysed above.

I can organize small fish farm on it and possibly poultry, and arrange one aboki to gateman the place for me.

but my fear is How do I get buyers for my fishes and my poultry products.

more fraternal advice Will be appreciated.

once again Thank you @ emipree.
please more insights. Thanks.

I understand. The thing is learning marketing strategies. I think it might be too late to go back to school for few months diploma in that. I have two suggestions if you intend to venture in poultry or fish-pond business. You don't just start like that.

Suggestion 1:

There are plenty of poultry and fish-pond places across southwest Nigeria. I think you need to make contact with them to "establish" trade relations. You go to different ones and get acquainted, ask managers and employees questions. When you are satisfied, you make informed decision.

Suggestion ll:

There is organization on NL currently recruiting Share Holders to establish a large poultry in southwest. You can request information from them and they will send you details. In that organization you are basically business owner with shared profits and loss. You also have choice to sell your shares and establish your own.

Benefits of this group thing are many. You learn the process, you contribute your quotas, you earn monthly(little it may be) and you are a boss.

Finally, if you are interested in option #2, i can mention one or two people on NL who organize this and they will come here to explain further. However, you dont have to do this at all. You may go solo following option one. You are still your own boss. Difference is option 1, you are sole ownership, you solely reap all benefits of your business and all that. You are also solely responsible for services, loss, marketing and all that. But option 2, you share everything. Hope this helps.

You can also opt for something else with your money. At least you have sense to think of something productive rather than wasting money on women or cell phones to show off. There is no dignity in that.

Thanks brother, this is an eye opener ill ruminate over this.

or better still start building 3 bedroom flat on my 1/2 plot and sell it off after completion.

anyway im looking at mowe ofada shimawa agbara atan igbesa ota orinmerumu agbowa pakuro akute lusada shagamu etc

any advice as regards location and building to sell versus building to Let,or farming with the land .are welcomed.

once again, Thank you.

^You are very welcome. Unfortunately, I am not used to locations. I don't live in the country. You may want to hookup with the locals. Opting for a house is even A+. God bless your efforts brother.

Thanks brother, i am a health care professional ,my first intention is to gather money and travel
firstly How are health workers doing in your country? please which country are you? Co's I plan to travel initially before settling down to buying a land which is my plan B.
may God bless, bro.

Good one. As a medical doctor in that country, you have good job. I understand govt unfairness thing but you have good job. Please listen to this, I wont trade that job for uncertainty overseas. NEVER!

You are doing the right thing right now unless you want to start from the scratch overseas. You not going to be medical doctor when you get UK or US. Your credentials are simply not recognizable. Period.

And if they 'evaluate' your credentials and pass you, you will not maintain your same status as you are right now. You will have to attend their school somehow because they don't trust you with your foreign experience even if you have experience. To attend their school (probably 2yrs), you will pay for it.

I am not trying to scare you. Just stating facts. You are still better off making money there now before you trash everything. You can always travel. I have told people but they don't listen. When they finally travel to UK or US, they have to deal with madness. From legal stay, to work permit, to housing etc. That makes a 40yrs old man looks 80. It's crazy. Even medical doctors in UK or US are in debt because they have to keep paying student loan.

My advise is keep saving. You have the option of building and selling like you rightly said, you have the option of building a shop (actually I forgot this earlier). Build a large shop on part of your land.

Save money and buy goods, everything you can think of. Stock it, register your small business with govt. Pay taxes. From there, you can establish business visa connection.

Let me explain, say for instance you know someone in US, Dubai etc, someone trusted, he buys the goods, ship them to you. You sell. Save your profit and do it again. By the time you did that for few times, your business is recognized, you go to embassy for business visa. By that time, of course, you have proof that you coming to US or UK or Dubai to buy goods. Most likely you will get it. So you can go back and fourth. That's my advise for Nigerians but many don't listen.

They come to US, sold everything they had back home, gave up their jobs for uncertainty overseas. They get here and suffer on the streets. I blame no one but them. I have a case like that right now. People make dump moves all the time.

This is just my humble submission. You have free will to do as you wish, sir. But think before you give up your nice job for travel...please.

@Emipree,Mostly appreciated brother, I concur with all what. you said.

I registered my business name with CAC since year 2011. with the business dealing in Food processing and production, General merchandise, importing and exporting.

I think the main thing is to start now.and I always think which way to go among all the business dealings registered with my business name.

all thesame ,more insightful counsel will be appreciated.
Thanks.

@Emipree,thanks.
I just bought the land, half of a plot,I made half of the payment ,physical allocation was done,I have cleared the site,about to do my corner piece.
I am starting something on the land immediately while I spread the instalmentayment of the balance over four months.this is how far I've gone so far @emipree .thank you.

^You are welcome. You owe your thanks to Him actually. Congratulations!

Which area and location is it?. Hope it's not that expensive

thanks @emipree,I got the land along lagos ibadan express way about few minutes drive from berger.

I bought half a plot for 300k.with half down payment and instant allocation of 50 by 50ft.half a plot inside an estate which is 30 seconds I mean 30 seconds and not minutes away from my Land is 2 million per plot.by my calculation,half a plot will be 1 million naira inside this estate.

I bought it from atypical omo onile whom I used 15 weeks to find info about him ,his work experience ,people he that bought from him ,the bar around the area ,the churches ,the shops ,all of them say thesame thing about this man as being a geuniune and trustworyhy man.

this same man has gone to deliver 20 blocks on my land today for my corner piece of which I'm gonna pay him tomorrow.

these people have been so supportive evidenced by what am seeing which confirms what exactly all people are saying about him.

thanks to almighty that I took this life changing step.

@ emipree,thanks and I'll keep u posted as all goes.

platypelloid

I bought half a plot for 300k.with half down payment and instant allocation of 50 by 50ft.half a plot inside an estate which is 30 seconds I mean 30 seconds and not minutes away from my Land is 2 million per plot.by my calculation,half a plot will be 1 million naira inside this estate.

Oh woow! for that cheap price near multimillion # plot of land?. You sure "omonile" was the right legal seller of the land?. I hope you got authentic documentation filed with govt. This is fantastic.

I bought it from atypical omo onile whom I used 15 weeks to find info about him ,his work experience ,people he that bought from him ,the bar around the area ,the churches ,the shops ,all of them say thesame thing about this man as being a geuniune and trustworyhy man.

I hope is the right channel.

this same man has gone to deliver 20 blocks on my land today for my corner piece of which I'm gonna pay him tomorrow.

Bless your hustle brother.

thanks to almighty that I took this life changing step.

Hope others can think like you.

@emipre,thanks and I'll keep u posted as all goes.

You are welcome

Op... Forget what people say o. Better do documentation on that land o. Eh

yes,thanks @ emipree and 2sexy,
it is the surest channel.the omo Onile has sold for so many which I had previously contacted underground all of them sing thesame song about this man.

infact the omo onile that sold this land for me is of the community.

I have heard and seen with my eyes a lot of testimonials about his non dubious dealings which took me 3 months and roaming about the community to elicit facts about his genuinenesss.

the (the omo onile ) has a house there which he has hosted me in severally and his industry beside his house.so such a person has nowhere to run.although he had sold land to many estates,and my money is a suya money/chicken change to him.

Although part ofour agreement is that he is the one that wil sell some of the building material that I'll use to build the house from foundation to roofing.

as regards the legal documentation,the deed of assignment is on the way from my lawyer which will be signed by both parties upon completion of the remaining part payment.

my location is flanked by few estates and I'm currently there doing my corner piece.

Thank you all and God bless.

@Emipree, Thanks, @2Sexy, thanks

Corner piece done.

progress so far.

digging of foundation of 2 bedroom flat completed this week .with space for one room and parlour self contain.

TO GOD ALMIGHTY BE THE GLORY.

images

what is being spent so far;
295,200

BREAKDOWN

INITIAL DOWN PAYMENT FOR LAND HALF PLOT IN MID FEBRUARY-140,000

MONTH OF MARCH INSTALLMENT PAYMENT FOR THE LAND = 40,000

FOUNDATION FEE FOR OMO ONILE = 40,000

CLEARING OF THE LAND 3,000

UPROOTING OF TREES 3,000

PACKING OF TREES AND AND CUT BUSHES FOR ACCESS 3,000

CORNER PIECE WORKMANSHIP= 3,000

20 BLOCKS AND HALF BAG OF CEMENT =3,800 I.E 140X20+ 1000.

DIGGING OF 2 BEDROOM FLAT = 20,000 NAIRA
THE HALF A PLOT STILL HAVE A SPACE FOR A ROOM AND PARLOUR SELF CONTAIN AND PARKING SPACE FOR 3 CARS ASIDE THE 2 BEDRM FLAT PLUS THE SPACE FOR BORE HOLE AND LATRINE.

CONCRETE FOR PARLOUR AS FOLLOWS

2 BAGS OF CEMENT=3,700

120 PIECES OF 9 INCHES VIBRATED BLOCKS=15,600

3 WHEEL BARROWS OF GRANITE =4500 I.E 1500 PER WHEEL BARROW.

OKADA CONVEYANCE OF GRAVEL TO THE SITE PACKED IN A BAG=2,000.

MISCELLANEOUS FOR UPROOTING = 2,000

WORKMANSHIP FOR MOUNTING 120 BLOCKS FOR A PARLOUR FOUNDATION = 10,000

WATER FETCHER 2 DRUMS =1,600

TOTAL SPENT AS AT MID MARCH.===295,200.

TO GOD ALMIGHTY BE THE BE THE GLORY.

Keep it up man. Before you know it your house will complete. There will be no hassle about rent anymore.

God bless

thanks @ Emipree.

more updates as further development comes up.

"merci becoup".

^ You welcome. We shall be waiting...

April instalmental payment made.

total amount spent - 335,000.

Monthly land payment of 40,000

300 pieces of 9inches blocks bought and mounted.#130 per each =39000

6bags of cement used =11,400

workmanship inclusive=20,000

water fetcher,block carriers =5,300

cutting of grass-1,500

feeding 1,000

Parlour completed up to window level.

Total amount spent so far --#413,400.

views

Wow, you doing good man. This going to make sense when you finish.

thanks brother,your encouragement is immensely appreciated.

i want to upload pictures of the progress on nairaland but its not uploading.

pls can you tell me how?

The easiest way in my opinion is take those pictures with phone. Use USB cable to transfer them all to your computer or send one by one using your email.

The USB option is easier.

Once you stored them on your pc, you logon to NL. Click reply as you normally do, then, click on "choose file". It will open a box containing your pictures. Click a picture once (one at a time) and click open.

NL allows you to post up to 4 (four) pictures one time.

@Empiree, good counsel from you to the guy, l am glad it paid off for him, better than him wasting it for visa and end up been either scammed or not been able to survive abroad, l have given similar advise to peeps not to sell there asset and run abroad, things are not like it use to be anywhere in the western world....travelling out of Nigeria for survival is not for the Lily livered but now he got a house which will be beneficial to him for life.......real estate is always a good investment....

Thanks @Shinejackie.

i think ever since i acquired the property,price of land has always been going higher.

although i still have a sure link of travelling especially to canada for fsw or the new stuff that they started but it aint gonna cost me less dan 800k-1million.naira.

since i have started erecting a building,i think facing it squarely may pay me off more than focusing on canada.?

most appreciated brother.
more insightful comments will be heartily appreciated.