yusufdayo1:
A friend of mine was retrenched in one of the bottling company and was paid 1.8m for his gratuity. He wants to collect loan and add to the money in order to buy Corolla for uberbolt as a side hustle but his family wants him to get a land and build a house even though is a room.

Your advice is highly needed.


modified: Currently he is a fashion designer and needs additional income.

He should not listen to his family. All he needs now is something that will bring him income. Uber/bolt will suffice for that, he has to be discipline and cultivate the habit of saving; in no distant time, with discipline, he would do more.

Think9ja:
Welcome to Nigeria.

It's always Uber, Laundry/Dry cleaning, POS and other casual street hustles. I personally would never venture into Uber. What career can that build for you? I should use my car and carry one ashawo girl that will tell me nonsense and still share the money with the company?

I would never be able to understand the reason behind our lack of ideas in this country.
From the government to the electorates. Even the best of the best cannot come up with a sound business idea that can launch the careers of many people. All these first class and upper class people, what's the use of your grades if you still come down to struggle for all these street jobs?

Back to the matter...

He should use that 1.8M to expand his fashion house and make it very standard. I hate all these street hustles that cannot help one build a career.

Exactly, I know of a guy we grew up together in Delta state, studied law later switched to fashion. I couldn't believe my eyes when I saw the store he owns in Abuja baba don get brand. A native sells for about 150k and others
even higher.

He should invest in the fashion business. Leave Uber for those that didn't go to school.

Oil dey your head!

ReadaDream:
He has 1.8M~ and he still wants to take a loan?

Makes no sense. He can easily get a Naija used Corolla or Civic and still keep some change.

If he goes ahead to spend the 1.8m on building a house now, it’s only going to end up been an abandoned project and he’ll be frustrated more.

Advise your friend to get a sound Nigerian used car and start driving. Then he can start saving to build a house gradually.

prophetfire:
This happened to a friend of mine many years ago. We were younger then and their father died. The little money the company he works for paid them, they said they want to build a house. I advised the eldest who was my friend to start a joint business with their mother instead of building a house, that the money was small. To cut the story short, the house hasn't been roofed up till today as the money wasn't enough. They are still battling with poverty with no sustainable means of income. Still struggling to pay rent and eat. Means of steady income that can be grown gradually first.

Same advice I gave to someone very close, he carry over 1 million to get a land telling me he will sell it later. Something you would have used to start a business and grow it gradually.

ReadaDream:
He has 1.8M~ and he still wants to take a loan?

Makes no sense. He can easily get a Naija used Corolla or Civic and still keep some change.

If he goes ahead to spend the 1.8m on building a house now, it’s only going to end up been an abandoned project and he’ll be frustrated more.

Advise your friend to get a sound Nigerian used car and start driving. Then he can start saving to build a house gradually.

His goal should be to buy another car, then another one and another one. I don't know why people rush to build crappy houses whenever they get small money instead of getting greedy with investments.

BiggyB242:


Same advice I gave to someone very close, he carry over 1 million to get a land telling me he will sell it later. Something you would have used to start a business and grow it gradually.

People don't understand that buying land is not an investment, it is just an asset to keep your money safe and help preserve the value of your money due to inflation as against keeping it in bank.
You want your money to multiply rapidly, you should consider real investment

Agriculture is the best way to go though many hate to be identified with farming.

Get yourself a good location in any of the Southwestern states. With 1m you can have about 5000 heaps of yam farm. From buying seedlings, clearing up the land, planting, weeding, mulching, pegging and harvest. 1.5 will do all that including labour.

Yam no dey get disease or pests issues like that. U and I know the cost of one big tuber in the local market.

If you can't do it yourself or you can't live in a rural community I can as well do it on your behalf.

B4 I forget, most places in Ondo States you don't need fertilizer.

I support this advice with one kolanut and 3 Virgins with a bottle of tropy for men them way sabin

ReadaDream:
He has 1.8M~ and he still wants to take a loan?

Makes no sense. He can easily get a Naija used Corolla or Civic and still keep some change.

If he goes ahead to spend the 1.8m on building a house now, it’s only going to end up been an abandoned project and he’ll be frustrated more.

Advise your friend to get a sound Nigerian used car and start driving. Then he can start saving to build a house gradually.

prophetfire:
This happened to a friend of mine many years ago. We were younger then and their father died. The little money the company he works for paid them, they said they want to build a house. I advised the eldest who was my friend to start a joint business with their mother instead of building a house, that the money was small. To cut the story short, the house hasn't been roofed up till today as the money wasn't enough. They are still battling with poverty with no sustainable means of income. Still struggling to pay rent and eat. Means of steady income that can be grown gradually first.

Learning the hard way.
The same way I advised a brother to save money and start a small business. Instead, he acquired a plot of land. And after some years, he saved enough to do foundation few months ago. On a monthly salary that is below 40k, how many years will it take him to complete that house?

MrHeff:
NEVER, I repeat NEVER buy any Nigerian used car for bolt/uber.

For your own good...

Says who? I currently use one, hundreds of drivers out there bought a naija used car to start the hustle.

Do your due diligence before buying ANY car and you may not have a problem.

Carmartng:
Has has gone up ooh, even Nigeria used, Check https://carmart.ng/

As bad as it is, with 1.2 - 1.4, he'd get a good unit of the 8th gen Honda Civic.

Wiseandtrue:

Land appreciates! He can buy lands and sell it more than he bought them!

Real estating don start be that!

Shey you will feed him while he waits

OmoManU:


Profit margin in UberBolt this days is not worth it anymore, he should rather look into some other types of transportation business if he's really interested in transportation.

how

Karemarealty288:
His 1.8 can get him three plots of land at Epe. But he has to be very sure and carry out due diligence on any land he wants to buy.....

One of the reasons people need to stay away from land as investment. Slow yield with high risk!

1) he can farm on the land while he wait for the property to appreciate in price..which of course will.

2) can start marketing the land once he buys it and Will sure sell above with he bought it.

I don't know about uber or bolt .... all i know is that cars depreciates fast by the day.

It also brings in money everyday.

1. Don't buy. Do hire purchase or rent for Uber. Let him do it solidly for 3 months first. Saving everything.

2. If he can buy land of less than 1 m, he should buy.

3. He should invest at least 500k in stocks.

yusufdayo1:
A friend of mine was retrenched in one of the bottling company and was paid 1.8m for his gratuity. He wants to collect loan and add to the money in order to buy Corolla for uberbolt as a side hustle but his family wants him to get a land and build a house even though is a room.

Your advice is highly needed.


modified: Currently he is a fashion designer and needs additional income.

1.8M to build? That family only unknowingly wants to ruin him further. Let him use about 1.4M to get a very good Nigerian used Honda Civic 2006-2009, register on bolt and start saving to build. He will make a lot of koney especially as he will own the car. I said civic because i used to have an 07 Corolla sports, now I’m with the civic…. The civic is a better car in all ramifications from fuel economy to cheaper parts, to a more comfortable and spacious ride, to more beautiful aesthetics and very much more rugged… legs dont pull. Let him buy a car. He’ll thank you later…. I make an average of 20-25k daily with about 4k fuel. Wprst days i make about 15k asides fueling. Do the maths

GetMeRight:
[/b]

Learning the hard way.
The same way I advised a brother to save money and start a small business. Instead, he acquired a plot of land. And after some years, he saved enough to do foundation few months ago. On a monthly salary that is below 40k, how many years will it take him to complete that house?

It will be a one year, one block project. Misplaced priority.

Help2020:

Sorry for the insult. But let's be honest with a supposed investor.Let's not lead them to a journey they will later regret.. I have over 21 years experience in forex trading. So I really don't like it when people come into the business with wrong preconceived notion.

I just told him what I am into and it works for me, I am honest. If you are in Abj you can come to a seminar just to see for yourself. I do not know if you ever used BoT

Sysdatek:
Outdated business ideas

Condemning one solution without providing another is a sign of mental sickness

Land

INDUSTRIALFAN:
1.8M to build? That family only unknowingly wants to ruin him further. Let him use about 1.4M to get a very good Nigerian used Honda Civic 2006-2009, register on bolt and start saving to build. He will make a lot of koney especially as he will own the car. I said civic because i used to have an 07 Corolla sports, now I’m with the civic…. The civic is a better car in all ramifications from fuel economy to cheaper parts, to a more comfortable and spacious ride, to more beautiful aesthetics and very much more rugged… legs dont pull. Let him buy a car. He’ll thank you later…. I make an average of 20-25k daily with about 4k fuel. Wprst days i make about 15k asides fueling. Do the maths

oh yes I have a Nissan premira I use for uber, am doing well with my hustle

Sysdatek:
Outdated business ideas

then bring up your own nah

UncutSk:
how

I believe by the time he starts he'll understand, with 1.8 he'll def be able to get a sound Nigerian used sienna and do interstate or joins a park within the city if na Lagos e dey, the profit margin is better than Uber, that business is already over regulated with controlled profit margins

GetMeRight:

One of the reasons people need to stay away from land as investment. Slow yield with high risk!

[/b]

It also brings in money everyday.

My brother I started with one plot I bought for 3mil in 2014 and sold it 10mil 2016.
Till date all I do is land and I have never regretted it.
www.Karemarealty.com

Karemarealty288:


My brother I started with one plot I bought for 3mil in 2014 and sold it 10mil 2016.
Till date all I do is land and I have never regretted it.
www.Karemarealty.com

In 2yrs ? 3m turn to 10m
Well done,

BAZ001:


In 2yrs ? 3m turn to 10m
Well done,

Currently land is 20mil there investigate it.
Badore Ajah. Wen you get good land in lagos u will never regret it.

If you're in Lagos take a stroll to Abeokuta find your way to Alabama around funaab.... Buy one acre there it's around 400k.
2006 Honda Civic 1.3 to 1.4m... register for both Uber and Bolt.

You have 1 acre waiting for development to hit the area... You can sell by that time.
Uber and Bolt de give you 30k plus pee week if you only from Friday evening to Sunday evening.

If you don't like these.... Pack 1.5n expand your fashion matter.
Building a house with 1.8m guyyy block na 280 o cement...ok.

No try that house now o

Bakerdav:
oh yes I have a Nissan premira I use for uber, am doing well with my hustle

tor

Start a Uber. Meanwhile Ikeja Electric customers you don't need to worry about any stress paying your bills. The IE mobile app is now available to make payments and also track payment history convenient. All you need to do is download the app using the link below.

miraclea:
This guy is a fashion designer already I expect him to expand his shop make it attractive and get a PHONE CHARGING and POS shop by the side of the shop in that same outlet by the side just small he will make more money and avoid police lasma and vio and accident with peace of mind

Every business has a risk factor.

INDUSTRIALFAN:
1.8M to build? That family only unknowingly wants to ruin him further. Let him use about 1.4M to get a very good Nigerian used Honda Civic 2006-2009, register on bolt and start saving to build. He will make a lot of koney especially as he will own the car. I said civic because i used to have an 07 Corolla sports, now I’m with the civic…. The civic is a better car in all ramifications from fuel economy to cheaper parts, to a more comfortable and spacious ride, to more beautiful aesthetics and very much more rugged… legs dont pull. Let him buy a car. He’ll thank you later…. I make an average of 20-25k daily with about 4k fuel. Wprst days i make about 15k asides fueling. Do the maths

How many hours do you work a day?