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First Time Landlord : I Shunned A Family House To Build Mine - Properties (2) - Nairaland

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How Can I Confirm The Actual Landlord I Am Paying A New Rent To? / Lagos Landlady Fixed Nails In Front Of Her House To Hinder Unwelcome Guests / As A Teenage Landlord I Get Intimidated By My Tenants What Do I Do? (2) (3) (4)

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Re: First Time Landlord : I Shunned A Family House To Build Mine by Nizguy(m): 7:28am On Apr 04, 2017
nice bro
Re: First Time Landlord : I Shunned A Family House To Build Mine by money121(m): 7:30am On Apr 04, 2017
Ok
Re: First Time Landlord : I Shunned A Family House To Build Mine by good4all40: 7:30am On Apr 04, 2017
May Allah always be benevolent with you and your family
Re: First Time Landlord : I Shunned A Family House To Build Mine by Nobody: 7:30am On Apr 04, 2017
Mcowubaba:
Mehn, See War for this thread grin
seems I missed the war

2 Likes

Re: First Time Landlord : I Shunned A Family House To Build Mine by danemenike: 7:31am On Apr 04, 2017
Any land you buy today will be worth millions tomorrow.
Re: First Time Landlord : I Shunned A Family House To Build Mine by firstlady0(f): 7:34am On Apr 04, 2017
[quote author=ShoProperties post=55219214]Here we share true life stories of first time landlords to inspire others that it is possible and you can start now. Enjoy it but most importantly take action after reading this.
Anybody that lives in Lagos and experiences the accommodation challenges vis-à-vis rent increase and landlords’ palaver will ultimately develop the urge to have his or her own house.
In my own case, even though I was living in my mother’s house at Okota up until the time I got married, I always eyed personal house ownership as one achievement that would give me a sense of fulfillment as a man.
Consequently, as soon as I got a better job as a sales/service engineer in a German company, I reminded myself that I must not allow the fantasy of having a free accommodation becloud my vision of personal house ownership and in order to remain focused, I decided to come out of my comfort zone, by quitting my mother’s house to rent an accommodation somewhere else.
Like a fish out of water, I was exposed to the heat and discomfort of a rented apartment in a jiffy as my landlady kept increasing the house rent at her whim.
However, I was unperturbed because, I knew I needed to be challenged and the more the challenges came, the stronger my passion for a personal house became.
The opportunity came in 1999 when a certain friend of mine told me that there was an available plot somewhere at Ikorodu that was free from the dreaded Omo-Onile wahala.
I went with him to the site and after the inspection I bought the plot at the cost of forty thousand Naira (N40,000). However, after concluding the documentation and securing the land, instead of going ahead to start developing, I relaxed.
At that juncture, in 2002, I committed one blunder that lays credence to the popular Yoruba adage which says that “the first money a child makes is usually spent on akara (beans cake)”.
Or how else could I explain a situation where I abandoned a plot of land I bought at a paltry N40,000 to buy a car at an exorbitant rate of N300,000, instead of using the money to start developing the plot?
So the truth of that adage still caught up with me somehow.
It was not until the value of the car started depreciating that I realized that I could have been better off investing the money in a more solid asset.
So in the year 2002, I started developing the plot only to abandon it later until 2004.
I would say that one distraction I had then was the boom in the stock market. Going by the kind of dividends the stock market was churning out, I felt that investing there was by far, more worthwhile than embarking on a building project – and join the landlords.
Led by this conviction, I threw in virtually everything, believing that when my dividends came tumbling in I would simply buy a house.
But alas, the stock market crisis came suddenly, like a holocaust and I got my fingers burnt!
Thereafter, I decided it was high time I invested in this one solid asset – property, so I moved to site once again.
Fortunately, I have a good job that involves traveling both within and outside the country and from such trips, I make extra money which helped me to expedite work on the project because given Nigerian situation today, one can hardly achieve much through savings from salary.
Another point I would like to make is that it is good to have a good spouse and to that angle I want to say that my wife was quite supportive; financially, spiritually and otherwise.
She was even the main motivator, such that each time I strayed she always drew my attention back to the project. However, the whole credit goes to God who provided the sources of income for me and my wife because without God, one can do absolutely nothing.
So we kept working at the project through the years despite the challenges because challenges will always come and sometimes they could be so serious that you may end up abandoning the project on your hands.
Another challenge we had was the disappointment of workers on site. The idea of not being able to deliver on target time was indeed a problem.
As if that was not enough, the Omo-Oniles whom my friend said were out of the way still came and we had to part with some money to appease them.
By the time the building got to the roofing stage, the roofing sheet I wanted to use was not available because there was crisis at the wharf.
By the time we wanted to complete the roofing the Omo-Oniles resurfaced and we had to give them more money.
However, despite all the challenges, we kept on working on the project until we completed it and moved in this year.
As I am talking to you now, a plot of land that sold for forty thousand Naira and there about as at the time I bought mine in 1999 now goes for between N7, 000,000 and N8, 000,000.
So on that note, I would like to advise anybody who wishes to have his or her own house should not look at a place as undeveloped because development spreads like a wild fire in Lagos.
So as soon as they start work, they should start saving for their own house and when the opportunity comes, they should not be unnecessarily finicky.”
Be inspired!
Story shared by ENGINEER ADESINA

http://nigeriarealestatehub.com/landlords.html/[/quote so inspiring...
Re: First Time Landlord : I Shunned A Family House To Build Mine by Swegzfreak: 7:34am On Apr 04, 2017
Motivation


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Re: First Time Landlord : I Shunned A Family House To Build Mine by mikaj(m): 7:36am On Apr 04, 2017
ShoProperties:
Here we share true life stories of first time landlords to inspire others that it is possible and you can start now. Enjoy it but most importantly take action after reading this.
Anybody that lives in Lagos and experiences the accommodation challenges vis-à-vis rent increase and landlords’ palaver will ultimately develop the urge to have his or her own house.
In my own case, even though I was living in my mother’s house at Okota up until the time I got married, I always eyed personal house ownership as one achievement that would give me a sense of fulfillment as a man.
Consequently, as soon as I got a better job as a sales/service engineer in a German company, I reminded myself that I must not allow the fantasy of having a free accommodation becloud my vision of personal house ownership and in order to remain focused, I decided to come out of my comfort zone, by quitting my mother’s house to rent an accommodation somewhere else.
Like a fish out of water, I was exposed to the heat and discomfort of a rented apartment in a jiffy as my landlady kept increasing the house rent at her whim.
However, I was unperturbed because, I knew I needed to be challenged and the more the challenges came, the stronger my passion for a personal house became.
The opportunity came in 1999 when a certain friend of mine told me that there was an available plot somewhere at Ikorodu that was free from the dreaded Omo-Onile wahala.
I went with him to the site and after the inspection I bought the plot at the cost of forty thousand Naira (N40,000). However, after concluding the documentation and securing the land, instead of going ahead to start developing, I relaxed.
At that juncture, in 2002, I committed one blunder that lays credence to the popular Yoruba adage which says that “the first money a child makes is usually spent on akara (beans cake)”.
Or how else could I explain a situation where I abandoned a plot of land I bought at a paltry N40,000 to buy a car at an exorbitant rate of N300,000, instead of using the money to start developing the plot?
So the truth of that adage still caught up with me somehow.
It was not until the value of the car started depreciating that I realized that I could have been better off investing the money in a more solid asset.
So in the year 2002, I started developing the plot only to abandon it later until 2004.
I would say that one distraction I had then was the boom in the stock market. Going by the kind of dividends the stock market was churning out, I felt that investing there was by far, more worthwhile than embarking on a building project – and join the landlords.
Led by this conviction, I threw in virtually everything, believing that when my dividends came tumbling in I would simply buy a house.
But alas, the stock market crisis came suddenly, like a holocaust and I got my fingers burnt!
Thereafter, I decided it was high time I invested in this one solid asset – property, so I moved to site once again.
Fortunately, I have a good job that involves traveling both within and outside the country and from such trips, I make extra money which helped me to expedite work on the project because given Nigerian situation today, one can hardly achieve much through savings from salary.
Another point I would like to make is that it is good to have a good spouse and to that angle I want to say that my wife was quite supportive; financially, spiritually and otherwise.
She was even the main motivator, such that each time I strayed she always drew my attention back to the project. However, the whole credit goes to God who provided the sources of income for me and my wife because without God, one can do absolutely nothing.
So we kept working at the project through the years despite the challenges because challenges will always come and sometimes they could be so serious that you may end up abandoning the project on your hands.
Another challenge we had was the disappointment of workers on site. The idea of not being able to deliver on target time was indeed a problem.
As if that was not enough, the Omo-Oniles whom my friend said were out of the way still came and we had to part with some money to appease them.
By the time the building got to the roofing stage, the roofing sheet I wanted to use was not available because there was crisis at the wharf.
By the time we wanted to complete the roofing the Omo-Oniles resurfaced and we had to give them more money.
However, despite all the challenges, we kept on working on the project until we completed it and moved in this year.
As I am talking to you now, a plot of land that sold for forty thousand Naira and there about as at the time I bought mine in 1999 now goes for between N7, 000,000 and N8, 000,000.
So on that note, I would like to advise anybody who wishes to have his or her own house should not look at a place as undeveloped because development spreads like a wild fire in Lagos.
So as soon as they start work, they should start saving for their own house and when the opportunity comes, they should not be unnecessarily finicky.”
Be inspired!
Story shared by ENGINEER ADESINA

http://nigeriarealestatehub.com/landlords.html/



Very inspiring Sir. But I will confess what caught my attention is the Engineering Job part.

Could you help this nairalander with a job. I majored in Mechanical Engineering and reside in Lagos State.
Re: First Time Landlord : I Shunned A Family House To Build Mine by ednut1(m): 7:36am On Apr 04, 2017
only real investment is real estate
Re: First Time Landlord : I Shunned A Family House To Build Mine by austin2all: 7:37am On Apr 04, 2017
Congrats, but can you show us pics

1 Like

Re: First Time Landlord : I Shunned A Family House To Build Mine by jahlud: 7:39am On Apr 04, 2017
Motivated and inspired smiley
Re: First Time Landlord : I Shunned A Family House To Build Mine by darkckUSA: 7:40am On Apr 04, 2017
ShoProperties:
Here we share true life stories of first time landlords to inspire others that it is possible and you can start now. Enjoy it but most importantly take action after reading this.
Anybody that lives in Lagos and experiences the accommodation challenges vis-à-vis rent increase and landlords’ palaver will ultimately develop the urge to have his or her own house.
In my own case, even though I was living in my mother’s house at Okota up until the time I got married, I always eyed personal house ownership as one achievement that would give me a sense of fulfillment as a man.
Consequently, as soon as I got a better job as a sales/service engineer in a German company, I reminded myself that I must not allow the fantasy of having a free accommodation becloud my vision of personal house ownership and in order to remain focused, I decided to come out of my comfort zone, by quitting my mother’s house to rent an accommodation somewhere else.
Like a fish out of water, I was exposed to the heat and discomfort of a rented apartment in a jiffy as my landlady kept increasing the house rent at her whim.
However, I was unperturbed because, I knew I needed to be challenged and the more the challenges came, the stronger my passion for a personal house became.
The opportunity came in 1999 when a certain friend of mine told me that there was an available plot somewhere at Ikorodu that was free from the dreaded Omo-Onile wahala.
I went with him to the site and after the inspection I bought the plot at the cost of forty thousand Naira (N40,000). However, after concluding the documentation and securing the land, instead of going ahead to start developing, I relaxed.
At that juncture, in 2002, I committed one blunder that lays credence to the popular Yoruba adage which says that “the first money a child makes is usually spent on akara (beans cake)”.
Or how else could I explain a situation where I abandoned a plot of land I bought at a paltry N40,000 to buy a car at an exorbitant rate of N300,000, instead of using the money to start developing the plot?
So the truth of that adage still caught up with me somehow.
It was not until the value of the car started depreciating that I realized that I could have been better off investing the money in a more solid asset.
So in the year 2002, I started developing the plot only to abandon it later until 2004.
I would say that one distraction I had then was the boom in the stock market. Going by the kind of dividends the stock market was churning out, I felt that investing there was by far, more worthwhile than embarking on a building project – and join the landlords.
Led by this conviction, I threw in virtually everything, believing that when my dividends came tumbling in I would simply buy a house.
But alas, the stock market crisis came suddenly, like a holocaust and I got my fingers burnt!
Thereafter, I decided it was high time I invested in this one solid asset – property, so I moved to site once again.
Fortunately, I have a good job that involves traveling both within and outside the country and from such trips, I make extra money which helped me to expedite work on the project because given Nigerian situation today, one can hardly achieve much through savings from salary.
Another point I would like to make is that it is good to have a good spouse and to that angle I want to say that my wife was quite supportive; financially, spiritually and otherwise.
She was even the main motivator, such that each time I strayed she always drew my attention back to the project. However, the whole credit goes to God who provided the sources of income for me and my wife because without God, one can do absolutely nothing.
So we kept working at the project through the years despite the challenges because challenges will always come and sometimes they could be so serious that you may end up abandoning the project on your hands.
Another challenge we had was the disappointment of workers on site. The idea of not being able to deliver on target time was indeed a problem.
As if that was not enough, the Omo-Oniles whom my friend said were out of the way still came and we had to part with some money to appease them.
By the time the building got to the roofing stage, the roofing sheet I wanted to use was not available because there was crisis at the wharf.
By the time we wanted to complete the roofing the Omo-Oniles resurfaced and we had to give them more money.
However, despite all the challenges, we kept on working on the project until we completed it and moved in this year.
As I am talking to you now, a plot of land that sold for forty thousand Naira and there about as at the time I bought mine in 1999 now goes for between N7, 000,000 and N8, 000,000.
So on that note, I would like to advise anybody who wishes to have his or her own house should not look at a place as undeveloped because development spreads like a wild fire in Lagos.
So as soon as they start work, they should start saving for their own house and when the opportunity comes, they should not be unnecessarily finicky.”
Be inspired!
Story shared by ENGINEER ADESINA

http://nigeriarealestatehub.com/landlords.html/


Thank you so much for your inspiring post..
Re: First Time Landlord : I Shunned A Family House To Build Mine by spokesboy: 7:40am On Apr 04, 2017
Very inspiring
Re: First Time Landlord : I Shunned A Family House To Build Mine by Myrealtor(m): 7:41am On Apr 04, 2017
Real estate investing, even on a very small scale, remains a tried and true means of building an individual's cash flow and wealth"
~Robert Kiyosaki

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The early subscribers to this wonderful estate scheme have started building their houses and this is something which you will witness when you come for site inspection.

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Re: First Time Landlord : I Shunned A Family House To Build Mine by Sunnymatey(m): 7:41am On Apr 04, 2017
Great inspiration man, u cant be too comfortable living in another man's sweat forgetting that u need to build ur own house. As a young man, never make the mistake of buying a car with ur first money except ur business or job depends on it.
Re: First Time Landlord : I Shunned A Family House To Build Mine by chineselink: 7:48am On Apr 04, 2017
Thanks for the motivation. I bought one plot of land on the 30th march and added another yesterday been 03/04/2017. Though a bit swampy but it will soon get in shape. My advise to people is,don't see anywhere as undeveloped or bad roads as excuse. Development is a gradual process.
Re: First Time Landlord : I Shunned A Family House To Build Mine by joinnow: 7:52am On Apr 04, 2017
Land is good investment no doubt but Lagos land na wahala.
I can assure you that his Ikorodu land is under acquisition. 80% of Ikorodu land is under committed land. It's has been reserved for agriculture.
Just like Badore land in Ajah 90% is under govt acquisition.

I would advise anyone in Lagos that want to buy land to contact NL Lawyer b4 you pay for any land.

2 Likes

Re: First Time Landlord : I Shunned A Family House To Build Mine by Nobody: 7:58am On Apr 04, 2017
The mentality of I want to build my own house, I want to own my business etc is putting so many young people under unnecessary pressure and doesn't make them to enjoy life. Some have even lost of their life by building in a far remote places or spending longer time on the road to and from work. This is part of what is breeding corruption today. This things will naturally come and when the time is ripe we can build a great mansion in a good location.
Re: First Time Landlord : I Shunned A Family House To Build Mine by ijeshaboy: 8:24am On Apr 04, 2017
toyetade:
The mentality of I want to build my own house, I want to own my business etc is putting so many young people under unnecessary pressure and doesn't make them to enjoy life. Some have even lost of their life by building in a far remote places or spending longer time on the road to and from work. This is part of what is breeding corruption today. This things will naturally come and when the time is ripe we can build a great mansion in a good location.
wrong advice!

4 Likes

Re: First Time Landlord : I Shunned A Family House To Build Mine by Elbizzcklinz(m): 8:25am On Apr 04, 2017
ShoProperties:
Here we share true life stories of first time landlords to inspire others that it is possible and you can start now. Enjoy it but most importantly take action after reading this.
Anybody that lives in Lagos and experiences the accommodation challenges vis-à-vis rent increase and landlords’ palaver will ultimately develop the urge to have his or her own house.
In my own case, even though I was living in my mother’s house at Okota up until the time I got married, I always eyed personal house ownership as one achievement that would give me a sense of fulfillment as a man.
Consequently, as soon as I got a better job as a sales/service engineer in a German company, I reminded myself that I must not allow the fantasy of having a free accommodation becloud my vision of personal house ownership and in order to remain focused, I decided to come out of my comfort zone, by quitting my mother’s house to rent an accommodation somewhere else.
Like a fish out of water, I was exposed to the heat and discomfort of a rented apartment in a jiffy as my landlady kept increasing the house rent at her whim.
However, I was unperturbed because, I knew I needed to be challenged and the more the challenges came, the stronger my passion for a personal house became.
The opportunity came in 1999 when a certain friend of mine told me that there was an available plot somewhere at Ikorodu that was free from the dreaded Omo-Onile wahala.
I went with him to the site and after the inspection I bought the plot at the cost of forty thousand Naira (N40,000). However, after concluding the documentation and securing the land, instead of going ahead to start developing, I relaxed.
At that juncture, in 2002, I committed one blunder that lays credence to the popular Yoruba adage which says that “the first money a child makes is usually spent on akara (beans cake)”.
Or how else could I explain a situation where I abandoned a plot of land I bought at a paltry N40,000 to buy a car at an exorbitant rate of N300,000, instead of using the money to start developing the plot?
So the truth of that adage still caught up with me somehow.
It was not until the value of the car started depreciating that I realized that I could have been better off investing the money in a more solid asset.
So in the year 2002, I started developing the plot only to abandon it later until 2004.
I would say that one distraction I had then was the boom in the stock market. Going by the kind of dividends the stock market was churning out, I felt that investing there was by far, more worthwhile than embarking on a building project – and join the landlords.
Led by this conviction, I threw in virtually everything, believing that when my dividends came tumbling in I would simply buy a house.
But alas, the stock market crisis came suddenly, like a holocaust and I got my fingers burnt!
Thereafter, I decided it was high time I invested in this one solid asset – property, so I moved to site once again.
Fortunately, I have a good job that involves traveling both within and outside the country and from such trips, I make extra money which helped me to expedite work on the project because given Nigerian situation today, one can hardly achieve much through savings from salary.
Another point I would like to make is that it is good to have a good spouse and to that angle I want to say that my wife was quite supportive; financially, spiritually and otherwise.
She was even the main motivator, such that each time I strayed she always drew my attention back to the project. However, the whole credit goes to God who provided the sources of income for me and my wife because without God, one can do absolutely nothing.
So we kept working at the project through the years despite the challenges because challenges will always come and sometimes they could be so serious that you may end up abandoning the project on your hands.
Another challenge we had was the disappointment of workers on site. The idea of not being able to deliver on target time was indeed a problem.
As if that was not enough, the Omo-Oniles whom my friend said were out of the way still came and we had to part with some money to appease them.
By the time the building got to the roofing stage, the roofing sheet I wanted to use was not available because there was crisis at the wharf.
By the time we wanted to complete the roofing the Omo-Oniles resurfaced and we had to give them more money.
However, despite all the challenges, we kept on working on the project until we completed it and moved in this year.
As I am talking to you now, a plot of land that sold for forty thousand Naira and there about as at the time I bought mine in 1999 now goes for between N7, 000,000 and N8, 000,000.
So on that note, I would like to advise anybody who wishes to have his or her own house should not look at a place as undeveloped because development spreads like a wild fire in Lagos.
So as soon as they start work, they should start saving for their own house and when the opportunity comes, they should not be unnecessarily finicky.”
Be inspired!
Story shared by ENGINEER ADESINA

http://nigeriarealestatehub.com/landlords.html/

40,000naira as of 1999 is equivalent to 10,000,000 in 2017......SAME money
Re: First Time Landlord : I Shunned A Family House To Build Mine by Nobody: 8:49am On Apr 04, 2017
ijeshaboy:
wrong advice!
says who. At least It worked for me and many other people.
Re: First Time Landlord : I Shunned A Family House To Build Mine by ShoProperties(m): 8:51am On Apr 04, 2017
Sacluxpaint:
Need to secure property at ibeju lekki fast!
contact me I have some affordable properties in Ibeju-Lekki
Re: First Time Landlord : I Shunned A Family House To Build Mine by ShoProperties(m): 9:17am On Apr 04, 2017
Nice
Re: First Time Landlord : I Shunned A Family House To Build Mine by ShoProperties(m): 10:14am On Apr 04, 2017
Nice
Re: First Time Landlord : I Shunned A Family House To Build Mine by Myrealtor(m): 10:14am On Apr 04, 2017
chineselink:
Thanks for the motivation. I bought one plot of land on the 30th march and added another yesterday been 03/04/2017. Though a bit swampy but it will soon get in shape. My advise to people is,don't see anywhere as undeveloped or bad roads as excuse. Development is a gradual process.
God bless u sir

1 Like

Re: First Time Landlord : I Shunned A Family House To Build Mine by ShoProperties(m): 10:28am On Apr 04, 2017
Myrealtor:
God bless u sir
check my post for your affordable properties

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