crafteck:


I don't own cars on uber or have indepth knowledge of the inner workings but I invested 4 million in a side business 3 to 4 years ago, it gives me 500k to 600k on the average per month now, and I still have my equipments, furniture, inverters worth about 2m now...sold the mikano I bought for 800 and got a smaller diesel gen(not connected to the discussion but excess power means excess waste of diesel)

Bluehill1051:
Go and play 2 odds. Portugal vs Germany.
Germany straight win .
Thank me later.

nextstep:
Given a choice in today's environment, I will buy tbills.

Somebody else has made a good case against land, though I don't fully agree (I develop land to rent, not just buy and hold), so our experiences with this PMB era may be different.

Let me attempt to discourage you from buying a car:

I'm assuming a car of about 3M, a cost that includes paperwork (registration, uber related fees, insurance, tax, etc.).
In tbills, 3M @ 12% annually is 360,000k. No further work needed from you for the rest of your life to get this return annually.

Typically, most drivers I know make around 30k/week. You'll likely work 46 weeks (not 52 because you will take breaks, get sick, travel, car breaks down, days with fewer customers, etc). Fuel will cost you at least 15k/week with all that driving, not to mention wear and tear and more frequent maintenance. After all is said and done, you might be lucky to see 15k/week after all associated costs (tolls, police, vulcanizer, stress). Not counting that the car you have is depreciating in value.

46 weeks X 15k is nearly 700k, with a lot of effort.

Sure 700k is more than 360k, but the latter comes without any effort, and oh, you still get to keep your 3M in cash. You can also use your time (which you're not using to drive) to work elsewhere.

gabicon:


It's a tricky one bro, land may sound lucrative but is a long-term investment, also if the said land is not appreciating by at least 15% compound annually, it's a bad investment. Uber is also a good business because of the cashflow of the business, if you are disciplined in saving and can save 50% of your earnings from uber you should be able to raise the capital for your land.

Land in Nigeria is highly overpriced, there are no amenities that justifies appreciation, their appreciation is speculative. My fear is that soon the bubble will bust, especially for cities like Abuja.

O will suggest you do a comparative analysis stating the ROI in the mid and long term, investment decisions is not something that can be placed in the hands of random strangers, you need to do the work.

gabicon:


It's a tricky one bro, land may sound lucrative but is a long-term investment, also if the said land is not appreciating by at least 15% compound annually, it's a bad investment. Uber is also a good business because of the cashflow of the business, if you are disciplined in saving and can save 50% of your earnings from uber you should be able to raise the capital for your land.

Land in Nigeria is highly overpriced, there are no amenities that justifies appreciation, their appreciation is speculative. My fear is that soon the bubble will bust, especially for cities like Abuja.

O will suggest you do a comparative analysis stating the ROI in the mid and long term, investment decisions is not something that can be placed in the hands of random strangers, you need to do the work.