Do People Make Money Building Houses For Rent Alone? - Properties - Nairaland
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| Do People Make Money Building Houses For Rent Alone? by Javillaxy: 7:33am On Oct 01, 2015 |
My opinion is property investment is over-rated in Nigeria People who make money from real estate are house flippers, developers, agents and lawyers. If you are planning to build/buy a property for the sole purpose of renting it out, you may later discover you can barely make 6-7% on your investment annually. This is a personal opinion though, I'll like to know what you think about this? |
| Re: Do People Make Money Building Houses For Rent Alone? by ednut1(m): 8:45am On Oct 01, 2015 |
Javillaxy:the value of the land and building appreciates yearly. Some 1 i know bot land at aiyetoro in ogun/lag border 30k in 1998. Sold it 2011 N1.4m. In ajah axis wen it was a dead area pple bot land 500k. Now they can get 8-10m selling it. Its a nice investment. Land wit duplex in lekki goes for 80-130m now. Ten years ago how much was it  Be wise |
| Re: Do People Make Money Building Houses For Rent Alone? by Nobody: 8:59am On Oct 01, 2015 |
ednut1: You are getting him wrong Ednut, Op is more concerned about how much is investment can pay back annually and not what it will yield in 20 years time or so. Property investment is a long time investment bro, anyone that wants to go into land and building shouldn't expect quick ROI from it, the investment is meant to serve you for a long time! The payback period is low compared to other forms of investment around but you can be rest assured that it is almost impossible to run at loss because without you even injecting further dime in it, your investment value would always appreciate. If you want an investment that would guarantee you recouping at least 15-20% of your capital annually, property investment should be your last option. Cheers |
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