The Business And Profitability Of Rental Properties - Properties (9) - Nairaland
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| Re: The Business And Profitability Of Rental Properties by Fhemmmy: 2:20pm On Aug 17, 2011 |
Oga Spyder . . . thanks for that short and quick analysis, i kinda agree with you on the block of flats and maybe if the student hostels is made to be 2B\D flats and 2 students rents a flat, so when they have to leave, you will still be able to rent it to professionals, and even if it is a 3B/D cos at the end of the day, all that matters is to rent the space and make money. The only problem is if one student is paying 30K Naira per year, hopefully will be able to charge more since it is now a flat and they now have more privacy and more washrooms and space to themselves . . . or what do you think? |
| Re: The Business And Profitability Of Rental Properties by blank(f): 2:23pm On Aug 17, 2011 |
Fhemmy, u don't want to do that. The thing is to know your target market and stick to it. If you want to build flats and rent to students, u can do so. However, how many people want to live with students and all their head aches? |
| Re: The Business And Profitability Of Rental Properties by Fhemmmy: 2:30pm On Aug 17, 2011 |
blank: That is not what i mean . . . . I means if i wanna build an hostel, would it be advisable to build them in like 2 or 3 bedrooms flats instead of the face me and i slap you thing? Cos when the students are no more renting, i can still rent it out to the professionals, i am saying that from what Chief Spyder said on the if the school moved and all that kinda stuff . . . hope you understands me now |
| Re: The Business And Profitability Of Rental Properties by rastaman20(m): 3:47pm On Aug 17, 2011 |
@spyder880. Thanks for that summary.No matter what u wanted to build as an investor, the key piont is the location of the land. this will determine the type of building.(face me i face u.blocks of flats,duplex or bungalows) |
| Re: The Business And Profitability Of Rental Properties by Reflector: 4:01pm On Aug 17, 2011 |
Fhemmmy: I think it all depends on the town in which the university is sited. For instance Abraka town is known mainly for the Delta State University (DELSU) it host. Most students attending the university live off campus. A student hostel in Abraka is a good investment, however if the university relocates to say Warri, these hostels would no longer be needed. There is no serious trade in the town to draw in professionals who can rent the hostel assuming it was built as a 2/3 bedroom apartment. My advice before setting up a student hostel is to try and ensure it is the university's permanent site this information you can obtain from government gazette or by the size of land acquired to site the university. |
| Re: The Business And Profitability Of Rental Properties by Fhemmmy: 4:22pm On Aug 17, 2011 |
Reflector: Great advice and surely will take that into consideration |
| Re: The Business And Profitability Of Rental Properties by rastaman20(m): 10:13pm On Aug 17, 2011 |
Learning , still remain royal. |
| Re: The Business And Profitability Of Rental Properties by Fhemmmy: 2:01pm On Aug 18, 2011 |
Anything for the house . . . updates and news on the rental property bus? |
| Re: The Business And Profitability Of Rental Properties by spyder880(m): 3:09pm On Aug 18, 2011 |
I found a layout in Enugu where lands are sold for N350k per plot, for those that know Enugu very well, this layout is at Ugwuomu Nike, around Ecumenical school. More reports on this as I will conduct a detailed search on this by tomorrow. I will take pictures of this layout and paste for us to access. |
| Re: The Business And Profitability Of Rental Properties by Natudu: 3:39pm On Aug 18, 2011 |
spyder880: I am all ears, boss. Thanks as you keep us posted. |
| Re: The Business And Profitability Of Rental Properties by Fhemmmy: 3:55pm On Aug 18, 2011 |
spyder880: You are really a great guy and non-selfish . . keep it up |
| Re: The Business And Profitability Of Rental Properties by rastaman20(m): 4:50pm On Aug 18, 2011 |
spyder880: waiting for pics |
| Re: The Business And Profitability Of Rental Properties by spyder880(m): 10:21pm On Aug 18, 2011 |
rastaman20: I will still visit the site proper, but this is the road leading to the layout.
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| Re: The Business And Profitability Of Rental Properties by spyder880(m): 10:40pm On Aug 18, 2011 |
more
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| Re: The Business And Profitability Of Rental Properties by rastaman20(m): 10:48pm On Aug 18, 2011 |
@spyder880, is there any student hostel in that area? |
| Re: The Business And Profitability Of Rental Properties by spyder880(m): 11:09pm On Aug 18, 2011 |
rastaman20:  Good one, a business man is always a business man, I know you have seen the sign board of two schools and you will now know students must be plenty there. I think students will be there but let me make two calls, by tomorrow I will know the students situation there. |
| Re: The Business And Profitability Of Rental Properties by rastaman20(m): 11:21pm On Aug 18, 2011 |
spyder880: I beg u ooo, u knows that i am an investor. . following you for back, i am a blessed man, It can take TWO to salsa |
| Re: The Business And Profitability Of Rental Properties by blank(f): 9:18am On Aug 19, 2011 |
Meen! Abakpa Nike is really far from the city. Na another village altogether. |
| Re: The Business And Profitability Of Rental Properties by Reflector: 11:26am On Aug 19, 2011 |
rastaman20: Be carefull one of the sign boards says TEMPORARY SITE which means the school would relocate later to their permanent site and your hostel may no longer be in demand. |
| Re: The Business And Profitability Of Rental Properties by spyder880(m): 11:30am On Aug 19, 2011 |
Nice observation reflector. Its a temporary site but I am sure more developement is heading into the area. |
| Re: The Business And Profitability Of Rental Properties by spyder880(m): 11:33am On Aug 19, 2011 |
@ blank, we are not talking about Abakpa Nike, that side is saturated with old houses and stuff, this is Ugwuome Nike and its closer to the airport than Abakpa, closer to Independence layout, New haven and other superb amenities in the city center. |
| Re: The Business And Profitability Of Rental Properties by Fhemmmy: 1:02pm On Aug 19, 2011 |
Following and jotting notes |
| Re: The Business And Profitability Of Rental Properties by blank(f): 1:22pm On Aug 19, 2011 |
Oh, i know where it is now. Thinker's Corner. It is just on the outskirts and i heard development has started getting there. 350k seems a good deal. Now, i am interested. |
| Re: The Business And Profitability Of Rental Properties by blank(f): 1:29pm On Aug 19, 2011 |
However, it is quite close to the airport and Anamco. Won't the noise be too much. |
| Re: The Business And Profitability Of Rental Properties by Natudu: 1:38pm On Aug 19, 2011 |
Watching with two eyes closed. I would love to be able to buy a plot for less than N500K again. |
| Re: The Business And Profitability Of Rental Properties by rastaman20(m): 2:25pm On Aug 19, 2011 |
blank: That is the deal, being closer,, maybe blocks of flats like this one, what did u think?? |
| Re: The Business And Profitability Of Rental Properties by rastaman20(m): 2:39pm On Aug 19, 2011 |
pic 1
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| Re: The Business And Profitability Of Rental Properties by blank(f): 2:58pm On Aug 19, 2011 |
Chineke!! Who wants to live in that community centre? Face me i face u is even better. |
| Re: The Business And Profitability Of Rental Properties by Fhemmmy: 3:13pm On Aug 19, 2011 |
@Rastaman . . . if you could build that in Nigeria, dont forget the elevator, and the problem might be maintenance, cos our people seems to be used to bad equipment, so constant fixing might be the order of the day |
| Re: The Business And Profitability Of Rental Properties by Nobody: 3:16pm On Aug 19, 2011 |
spyder, pls go find out more about the area and the genuity of the land, man dey interested oooo |
| Re: The Business And Profitability Of Rental Properties by rastaman20(m): 3:16pm On Aug 19, 2011 |
Fhemmmy: Oga me,,, i am still in school, so i am learning,when this one land for niaja, The different shall be very clear, just watch out. |
| Re: The Business And Profitability Of Rental Properties by rastaman20(m): 3:39pm On Aug 19, 2011 |
blank: Lol . Community centre kee, na waoooooooo |
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