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Nairaland Forum / Nairaland / General / Properties / Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. (17514 Views)
A $7.6m Dollar House That Looks Ordinary From The Outside(Photos) / Buy Affordable Land Between 300k-800k And 800k Upwards In Ikorodu Axis Lagos / A Big Shop Needed Between Lekki And Ajah Axis (2) (3) (4)
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Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by Chekitaut: 1:23am On Jan 18, 2016 |
From a different angle, MUST IT BE LAGOS? Consider 2plot of Land close to a good higher institution, Like FUNAB, OOU, MAPOLY, TASUED, to mention few where land is not up to a million. Build barracks , Barrack no dey empty is a year thing. Building is cheap ass in cheap in Abeokuta, Ijebu Ode. Walahi 30tons sand is 55,000 30tons Granite is 80,000 Cement 1,300 Bhole may not be friendly 250k-300k Iron rod too cheap only your fit-ens will be cost you more because of transportation from Lagos |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by kaflex: 1:23am On Jan 18, 2016 |
Call me on 08028650671 |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by amanikondo: 3:50am On Jan 18, 2016 |
bebe2: You can buy where you are and still make money. You buy a small property that can be easily rented. Property market may crash like 2008/09 but rental does not. In fact when it crashes again, rental will increase. A friend has small rental apartment that cost around $65,000 it brings in $800/month After Tax and fees. $800 X 300 Naira= 240,000/month. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by bebe2(f): 10:04am On Jan 18, 2016 |
amanikondo: The whole thing tire me. Still Looking into all options , the uk will be my last resort. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by bebe2(f): 10:10am On Jan 18, 2016 |
Chekitaut: Lol @ barracks, the reason why i say lagos is becos Dats where I know. I have tried benin and it didn't work out. I really don't mind hostels close to higher institutions but the hassles dat come wit it and it's management. Land flipping will be it for now. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by befto: 10:42am On Jan 18, 2016 |
Hi Ecel, Can you furnish you contact details please? I am considering investing in the UK market. ecel: |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by befto: 11:01am On Jan 18, 2016 |
Hi Euromillion, Please ping me your contact details. I don't mind doing some JV in Ireland. euromilion: |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by befto: 11:21am On Jan 18, 2016 |
This is very informative and useful for everyone. I was thinking of investing on the mainland but not sure of what areas to go into? I have a budget of 6m for now. Where would you advice? Also what area in the mainland did you build this shops/security post? I was on the opinion that you get a much better ROI than this. Please advice brabus: |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by Nobody: 11:33am On Jan 18, 2016 |
befto: What country do u base bro? |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by befto: 11:35am On Jan 18, 2016 |
I am between Naija and UK. You can mail me @ Jarel_tj@yahoo.com euromilion: |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by ifyalways(f): 7:10pm On Jan 19, 2016 |
bebe2:Omonile doesn't necessarily mean tout. Lol Lots of big, sons of the soil are omonile eg Eleshin, Otun of Ajiro etc. They are simply sons of the soil who have reliable and first hand contact as to who owns what land and the best part for me is, no one dares disturb you if you buy from them. They settle all the small omoniles, agberos and fellow big masquerades. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by ifyalways(f): 7:15pm On Jan 19, 2016 |
Chekitaut:How much is the rent there? Nobody wants to build and after 5 years, yet to recoup basic workmanship and materials money . |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by ifyalways(f): 7:17pm On Jan 19, 2016 |
brabus:Cool. Ogombo as you suggested is likewise good. Same as Lakowe and Bogije. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by Chekitaut: 7:21pm On Jan 19, 2016 |
ifyalways:Bed space is 70k-80k |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by ifyalways(f): 7:24pm On Jan 19, 2016 |
Chekitaut:Per annum? Does the landlord rent out bed spaces or rooms? How many rooms in a floor and how many bed space in a room? |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by Nobody: 8:44pm On Jan 19, 2016 |
This thread is quite informative. I found out land deals are more lucrative in Lagos , pH and abuja. Am done with investing in east and off to lag. I missed one my office sold , very close to crown estate,lekki. They even offered half plots for sale for staff like me but I was blind. 2 years later, I started paying for an estate in agbara.Ive paid the fee for the cost of land ( cos I didn't want to miss it again) before a friend based in lag told me that island is the in thing. The rate of appreciation is faster and cannot be compared. Y Am currently on the look out. Thanks brabus, ifyalways and everybody for your input. I will make out time to visit the mentioned estates b4 Feb ending. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by Chekitaut: 9:13pm On Jan 19, 2016 |
ifyalways:Madam Bed space per annum ooo 2 - 3 bed in a room |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by brabus(m): 9:37pm On Jan 19, 2016 |
ifyalways: u no go kill us for Nairaland. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by blank(f): 5:44am On Jan 20, 2016 |
Please leave that Addo Badore area. That area is under govt acquisition. Any cheap land you buy there, you would have to buy it from govt again. Some areas are even committed lands that people are trying to codedly get rid off. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by brabus(m): 6:02am On Jan 20, 2016 |
blank: Really? Can you give the specific areas to avoid? I live in Badore and to my best knowledge the area is fully built up. I have nothing less than 20 plots in my custody and I'm hearing this for the first time. I've been in that area since 2003. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by Nobody: 6:16am On Jan 20, 2016 |
blank: Please, are Greenville estate and harmony estate affected? I prefer gated estates in those areas cos I can't handle omonile issues also price of gated estates appreciate faster than the lands In the neighbourhood. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by ifyalways(f): 6:22am On Jan 20, 2016 |
blank:really ? I know Greenville estate has official gazette from LASG Chekitaut:My question remains, would she( landlord) rent out bed space or room? brabus:Lol. 80K per annum? Abeg I don't have that patience. And trust me such tenants sabi owe and spoil house. Collect 80K, use 30K repair room, spend 10K on charge and bail lawyer wey go help u collect the rent by Fire by force. Not for me, biko. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by Nobody: 7:05am On Jan 20, 2016 |
Quote below is from the lawyer...from property section. One more thing. If you intend to buy a property in Addo/ Badore Ajah Estates, please dont waste my time and your time. 85% of those lands / Estates there are under government acquistion and are Committed Areas. Governmnent has Acquired over 300 Hectares of Land in that place and thats approximately almost 5000 plots. ....... |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by brabus(m): 8:21am On Jan 20, 2016 |
ifyalways: Cheap properties do not necessarily translate to good investment. I'll rather build in a place where I'll be getting my steady 500k per annum in a shop than where I'll be getting 30k per annum on 20 shops. The 30k shops will come with 20 problems from each tenant. And the maintenance is overbearing in the long run. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by ifyalways(f): 8:35am On Jan 20, 2016 |
My point exactly! Ikota shopping complex have been existing for over 10 years. Rent starts from 400K per annum and people are renting it, maintenance is OK and owners are smiling to the bank each year. Now compare that with those cheaper complexes at Ajah that have become mini sahara/ breeding points for rodents cos of lack of patronage because the owners believed they could provide a cheap alternative. Personally, if I must spend money to build, location matters. Why 70K per annum when I can get 300K or more for a RSC? brabus: |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by blank(f): 11:10am On Jan 20, 2016 |
brabus: Speaking from personal experience, Oke-Ira area is totally under govt acquisition. Almost bought a house on 2 plots there for about N20m in 2009. We had concluded before i heard that you have to do search etc etc. We did the search and found out that it was under govt acquisition and the area was under litigation with another family that won. So, we would have paid 4m to the family that won and then paid 12m to govt to ratify the land. (Ratification is based on land size). Although we could have sold the second plot for about N5m then but the increase in the cost was too much and profit would be hard. Then we went on to look for other houses or lands closer to Ajah roundabout but they were all the same. We just wasted money on searches. Some were committed lands and for those ones, there is no ratification. I don't know about Greenville estate but what i have come to understand is that that area was meant to be for the fourth mainland bridge. Just ensure you do your own private search and that the search is comprehensive which should include litigations etc. No look say fine house dey there. If govt decides to knock them down, the loss will be more. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by befto: 12:32pm On Jan 20, 2016 |
Interesting |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by Nobody: 7:18pm On Jan 20, 2016 |
Make i spread mat here.....this is getting very interesting. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by Nobody: 7:46pm On Jan 20, 2016 |
wait! can you believe that i haven't been to Ogombo till now? We bought a piece of land from a Nairalander Kaflex in 2012 after our wedding with the small change wey remain. We collected our documents within weeks, fenced it immediately and just left it there to season for another 2yrs with no wahala watsoeva. In 2015 January Brabus broke ground, built us the carcass for Desmond flats and this week / next week we should be painting. My point is I will rather buy in Ogombo (peace of mind) wait for the area to catch up (appreciate) cos of its global C of O which was confirmed than to buy cos of how much rent is in other areas with no documents. like I said earlier I love to gamble but not with Lagos land and cant deal with land issues beside am too young for that. BTW. We chose Ogombo cos Nairaland Lawyer endorsed it and even wrote a thread about it. Walai everything he said was correct. |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by Nobody: 9:17pm On Jan 20, 2016 |
Why on earth would anyone with good financial training and opportunity to invest in USA,uk,Ireland and many other countries with massive potential want to invest in Nigeria? I've made that mistake,but not anymore. Check this out. Let's say joe invested 40million in a duplex in Nigeria. Joe was lucky enough to get a professional couple that agreed to rent off joe duplex for 500k per annum.joe felt happy,forgetting that 500k is less than $2000. On the other hand Michael invested his 40million in uk,us or ireland in a house or apartment that could be rented for between €1000-1400per month. Who is the intelligent investor among them? |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by 4nobody4every1: 9:33pm On Jan 20, 2016 |
euromilion:.......interesting angle to the discourse, investing in the west or saner climes is preferable, so many challenges to contend and deal with in Nigeria, real estate investment in Nigeria is not for the fainthearted |
Re: Still searc: #6M budget, i need a land between lekki and Ajah. Post pics pls. by Toronto123: 9:49pm On Jan 20, 2016 |
guy u make sense euromilion: |
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