spyder880:

Thank you sir, I am always encouraged when I see you around.

spyder880:

^^^ baba, there is no land to be bought. These shops are existing built up stores and that is what is sold and resold.

oluwabamis:

I have been following this thread since yesterday. Kudos to all posters especially spyder888. Rental prop Ty biz is very lucrative actually. I have build a couple of personnal houses and I just love building. It's a long term thing, so if you are a short term person, this is not for you. More gist later, got to prepare my kids for school.

Fhemmmy:

^^^ Chief, but by the time you look at cost of buying lands in those kinda places you have mentioned, i am sure the lands alone will be so expensive, and the recoup period for the investment might be longer than expected

spyder880:

^^^^ its long term my man. And it can secure your future by making sure you have residual income for the rest of your life. The reason I love rental properties is that it provides surprise money.

Seeing this kinda stuff makes me to hate our leader with such anger . . .

oluwabamis:

That good luck is for him and his family.

Am Alone:

Now from my experience:

I have an almost 3 plots of land. But the front measured 120ft.
I intend to build a large plaza with a minimum of 56 shop and 2 warehouse.
But because of cash wey dey yab man!!!!

I just left the place like that. But just july this month, i came up with an idea to just
build some shops at the front using only the government set back(in a way that the shop can be
there while i am building my plaza when I'm ready, the shops wont reach or affect the plaza itself).

Now my point is, including borehole that I did for the 12shops, toilet, the front that i make look extremely good compared to others,
town planing that I have to pay over 100k, PHCN and everything I spent on the shop(despite the fact that i made it look 3times
more beautiful than normal, I still spend a total of 1.5million). But when i collected my 2years rent(which the tenants rushed to pay)

I got a total of 2million. Which means I gain back my cash immediately with an extra 500k.

Another point is that, i have not even really utilized
the land. So I am 100 and 1% into shops/plaza build
as it is more than a good investment for me!!!!

atasteve:

He that walks with the wise shall be saved but the company of fools shall be destroyed. Thanks for the insight.

spyder880:

Surprise Surprise!!!
Enugu lands has so much risen in value that we cannot find any land which is reasonable in price. Somebody from nairaland contacted me to find him the ideal land for his new house. I have been moving all around town since the past 2 weeks to see any land at the range of 3.5m-4m in any good location in Enugu where somebody can build and live immediately. And we cannot find even in Nike town?

For all the agents in Enugu, call me if you have anything you can show me, I will come out for inspection at short notice within this weekend.

spyder880:

^^^^ Oga, I agree in total, just fly down and your expenses will be taken care of, just debit my account and I will pay up as soon as 1 naira equals 1 USD,lollzz.