Sagamite:

Don't be a mooron!

Don't ever try to strawman me again, do you understand?

You can get seriously slaughtered if you do.

excelproperties: oh i see i wonder how many people you have slaughtered for not supporting and accepting to say Negative things that would make your intellect happy, a mooron is someone that does not share your blind personal notion,hope you think before you write. You are indeed a comedian ,your statement is funny.Nigeria has viable property investment that is true , land/houses appreciates year by year .the amout you buy it this year is not what it would be the following year , secondly its good to have a home over ones head ,hope that does not get you more annoyed.cheers.

excelproperties: Offcourse you did, you call the analysis of land/houses/properties value appreciation a scam,this is a true to life issue,a land bought for 400,000.00 in the year 1988 can-never be sold at such price especially when owner has a c/0 ,land survey ,fenced and not in Government Aquisition ,no omonile problem, i am saying what i know that is real if you wont and cannot invest in property in Nigeria its your decision which is not an authority on others, believe or not , a man when he was 35 made some money bought 25 acre 3 million each acre for 120 thousand ,each plot for 20 thousand naira,the estate valuers estimate it now for 2 million per plot,per acre 12 million ,the whole 25 acre 300 million asking , the memorandum of understanding for the sale is been prepared by a lawyer even as i write ,buyer confirms c/o , land surveys .fenced as well, i dont think any bank would give any customer an intrest with such a margin,moreso there is a tendency for a failed bank issue, property investment for those that likes it is indeed good ,you have rest of mind , less stress,low or no running capital ,not much watch on economy situation, the land is just there in the bush/forest/underdeveloped/local place in no time it is turn to good money as development comes to the area. This is only for those with the interest in property investment in Nigeria,no need to thrash naija,sometimes some people interest is in ikeja,vi,ikoyi,ajah wake up and invest in other areas and still make profit , would you not rather invest now,it true that it pays. Markerting strategy ?yes offcourse for a good purpose.genuine property consultants excel properties.07044061892.

Sagamite:

Cut the crap tory!

Show me my post that said "land/houses cannot appreciate in Nigeria?".

We will test your comprehension in public here.

I wait.

excelproperties: Who represent we will test , you ? I never knew you would change your words about Nigeria at least i made you do that with my crap tory the same you labell as scam , positive story that would insult your intellect. What else does your reply to my words as crap implies , your comprehension level either direct or indirect is low.not intrested in conversing with human slaughter.

prince_onx: @flexya:
First of all am not based in Nigeria! I live in the US and have for over a decade so you can save all that your taxes, bills, and insurance excuses for those in Nigeria. I own 2 houses here myself! One is paid off and the other have about 8yrs or less left depending on my payment so I know too much about both income and property taxes and the last time I was on a public transportation/bus was in 2001 meaning I also pay auto insurance but hardly/don't pay speeding tickets because I pay to park where am supposed to and maintain legal speed limit. I pay my federal, state, and city taxes, health, life, property, and auto insurance. I live in NE so I know what gas bill is cause my Winter gets to minus 0. (2) you owe me no explanation for not having a house or property in Nigeria but don't ever let me hear you again say that people based abroad can NOT save to build or buy property or near impossible to build regarless of their pay/income except they're involve in dirty deals! There are people out there that make real good money genuinely! I mean GOOD money without having anything to do with business! Just their job and their pay check! I don't know what you do/did in London but pls don't call that a good job again if you struggle to save £300 a month! and by the way more money doesn't necessary mean BIGGER house! There are affordable, comfortable and good houses also in good neighborhood for a family of five. That take us back to living within your/one's means! A lot of people sacrifice a lot of things or pleasure overseas/here just to be able to save more money a month either for investment or simply to save up more! You named car loan as one of your bills in your first reply, then £57 bus pass/card a week in your second reply! I dont know if you own a car or jump on the bus but instead of having a car loan which require full coverage insurance (more money a month) on a newer car ( 1 or 2yrs old) why dont you save up and buy (pay cash) for a 5, 6, or even a 8yrs old car and get a liability (cheaper) insurance a month! And whata blank is TV license? You guys need a permit to watch TV's too? Oga/Bross, to cut stories short you said you've lived in UK for 19+yrs, Abeg! Am begging you stop giving those excuses and do something. You're probabely in your late 40s or early/mid 50s but Your income (£40k gross) is not bad at all and even £300 saving a month is also not bad and properties in your town of Ibadan is also not too expensive! So with few adjustment to your bills and life style that £300 a month can increase to £500 a month and you know what that is in 12months! Even £300 a month is still above half a million Naira so stop those excuses or simply say you're not interested instead of saying it's near impossible or can't be achieved unless one is doing some illegal sh.I.t

Chinom: First of all the poster is just looking to sell more properties. He is an agent. Here is my advice; If you do not intend to relocate to Naija permenently, do not build any house. Stay in hotels or just rent a mini-flat. If you intend to build, then pack all the money in the bank, wait till you're able to return to Nigeria and then start construction while being physically there. Building a house by proxy in Nigeria is a very risky business.

I like your post but may I ask you a few questions.
1. If you see a house with these qualities:
 Good price
 Built with quality materials with state-of-the-art finishing
 Located around Ikeja GRA, Shonibare Estate, Maryland, Magodo GRA, and Omole
 Genuine Titles
2. Would it suite your needs? Would you buy?

We have been building houses in the above locations for people that value quality, convenience and a prestigious environment. Nigeria is our father land. We deserve the best here and we must get it. Contact me with or call 08092838139. I will also send you pictures of some of the buildings so that you can see for yourself.

info@lpf:
Quoting Davuchim



Let me put it this way, rather than pay N160 Million naira ($1M USD) for a "magnificent" terrace home in Lekki Phase 1, Ikeja GRA or Oniru (you get my point) or for a plo of land on Banana Island, I would rather buy 10 houses for $100,000 a pop in Atlanta GA, or 20 houses for N50,000 in Detroit Michigan, live in one of those, and rent out the other 9 or 19, living off the income! Even at $500 rent per house per month, my monthly gross income would be $4500 to $9500. In addition, I could look forward to solid appreciation over time, and hand over a tidy portfolio to my kids when I knock off. That to me, is a wise investment.

Wise investment my ass,so where are all the foreclosures coming from?Have the values of most of the houses you are talking about not fallen below their market value?What kind of solid appreciation is that?Remember demand is what drives value that is why a 2 bedroom apartment in NYC will be more expensive that a five bedroom house in Dallas.

info@lpf:
Quoting Davuchim



Let me put it this way, rather than pay N160 Million naira ($1M USD) for a "magnificent" terrace home in Lekki Phase 1, Ikeja GRA or Oniru (you get my point) or for a plo of land on Banana Island, I would rather buy 10 houses for $100,000 a pop in Atlanta GA, or 20 houses for N50,000 in Detroit Michigan, live in one of those, and rent out the other 9 or 19, living off the income! Even at $500 rent per house per month, my monthly gross income would be $4500 to $9500. In addition, I could look forward to solid appreciation over time, and hand over a tidy portfolio to my kids when I knock off. That to me, is a wise investment.

Wise investment my ass,so where are all the foreclosures coming from?Have the values of most of the houses you are talking about not fallen below their market value?What kind of solid appreciation is that?Remember demand is what drives value that is why a 2 bedroom apartment in NYC will be more expensive that a five bedroom house in Dallas.

Wise investment my Bottom,so where are all the foreclosures coming from?Have the values of most of the houses you are talking about not fallen below their market value?What kind of solid appreciation is that?Remember demand is what drives value that is why a 2 bedroom apartment in NYC will be more expensive that a five bedroom house in Dallas.

info@lpf:
Quoting Chanceman:


By your statement, you show a fundamental lack of understanding of basic investment and economic principles!

1. Investing in property, just like investing in the stock market, should be for the long haul, except if you are a day trader. As such, periodic blimps and bumps may affect the overall net worth of your portfolio, but the economy usually recovers, and values return to historic highs. Go into history and track the trends over the last century.

2. Demand alone does not drive the prices of property. Availability of housing and land mass, jobs, geographic proximity to economic capital etc also play a huge role. NYC is a tiny strip of an island with no land growth opportunity thanks to the Hudson and East Rivers, it enjoys a close proximity to the nations capital, is the economic capital of the USA etc, etc. Dallas on the other hand still has new cities and subdivision not yet considered, and other than a surge of banks and tech firms head quartering there to spur growth, not much else to its economy! Quite simply, NYC has limited housing, so prices are high. The demand you speak of is relevant to NYC only because the other factors mentioned above are present, otherwise NYC would be just another dirty, noisy city by the water with abnormally huge rats and roaches as inhabitants. Sort of reminiscent of Lagos and its relevance to Nigeria!

3. The foreclosures in the US market and the steep decline in the housing market stemmed from an abnormally high percentage of "sub-prime" mortgage loans and from bad decisions taken by wall streeters to securitize those sub-prime loans, creating a secondary market in a fundamentally bad derivative investment! When those sub-prime loans started to default, it created a domino effect and everything came crashing down and the Kings went dancing naked on the streets!

4. Housing in all but a few US markets has until recently, seen solid growth over time. Even average markets have seen 4 - 6% growth in the sector. A few markets have seen outstanding 20-25% growth (NYC, Silicon Valley etc). The foreclosures that you refer to, I see as an opportunity to amass a nice portfolio at a reduced price. Consider it a huge sale at your favourite department store! Remember the fundamental rule of investing? Buy low, sell high!

So Chanceman, yes, I stand by my original statement, because the investment in the US properties I referred to, will not only generate immediate income from rent, but will also eventually appreciate, and then I can sell high or pass on to my descendants after a couple of decades. In the meantime, that one house that you would have purchased in Lekki for the same amount would now be mouldy, sinking at the foundation, with cracking walls, all tiles and bathrooms broken, all taps and pipes leaking, roof leaking, with a sewage system that stinks to high heavens, thats assuming that the Atlantic OCean has not come back to reclaim its original position!

BTW Your bottom? Go shake that someplace else! Your arguments, like your bottom, are full of hot air!

info@lpf:
^^ Like I said previously, Chanceman, you clearly do not understand rules of investing, so I am wasting time on you. Have you ever heard of a little thing called Insurance? Yes, that takes care of those fires and earthquakes.

You talk about rate of returns -
1. If the ROI in Nigeria is so high, why is there a glut of badly finished buildings on the market?
2. Since you claim to know so much about ROI - calculate this, and post the results in your reply:

Option A:
Spend N50 million naira ($312,500.00) on 1 badly finished house, live in it with your family, spending upwards of N1M per year fixing plumbing, tiling, foundation and electrical problems, not to mention N1M for generator, diesel, service charges etc etc. No income from the property, except perhaps your rented out boys quarters at N400,000 ($2500) per annum. Your exit strategy may be to sell when value hits $500K, but with the real estate collapse in Nigeria, and flooding and sinking cities, when will that time come?

Option B:
Spend $300,000 buying 8 to 10 houses in some city outside of Nigeria, with solid growth projections, solid industrial economy, good education and a good population (note, this is not about Atlanta?). Derive income of a minimum of $500 per month per unit, for a total of $5000 per month, $60,000 per year (N9,600,000.00). Exit strategy? Buy and hold, deriving income for the next 30 years, use a small portion of income to pay for insurance, taxes, repairs and maintenance, and then pass on portfolio to my descendants.

The cream on the cake: Now, if I so desire, I can take N4M out of the income from my investments, and rent a suitable place in Nigeria, or simply pay for hotels when I am visiting.

Dude, do the math. I think you just got schooled!

CHANCEMAN -So your option b houses have no maintenance cost , insurance,taxes?

...deriving income for the next 30 years, use a small portion of income to pay for insurance, taxes, repairs and maintenance...

CHANCEMAN -so average cost of the properties will be 30k dollars each?put the same amount in real estate in Lagos or Abuja and wait for 30 years ROI and capital apreciation will still be higher in the naija market.

My friend it is not about quality of building rather location and demand.

CHANCEMAN -So please broaden your horizon and do not display your ignorance here becos something is in the USA does not automatically make it better than what is available in Nigeria.

info@lpf:
Quoting Chanceman:


By your statement, you show a fundamental lack of understanding of basic investment and economic principles!

1. Investing in property, just like investing in the stock market, should be for the long haul, except if you are a day trader. As such, periodic blimps and bumps may affect the overall net worth of your portfolio, but the economy usually recovers, and values return to historic highs. Go into history and track the trends over the last century.

2. Demand alone does not drive the prices of property. Availability of housing and land mass, jobs, geographic proximity to economic capital etc also play a huge role. NYC is a tiny strip of an island with no land growth opportunity thanks to the Hudson and East Rivers, it enjoys a close proximity to the nations capital, is the economic capital of the USA etc, etc. Dallas on the other hand still has new cities and subdivision not yet considered, and other than a surge of banks and tech firms head quartering there to spur growth, not much else to its economy! Quite simply, NYC has limited housing, so prices are high. The demand you speak of is relevant to NYC only because the other factors mentioned above are present, otherwise NYC would be just another dirty, noisy city by the water with abnormally huge rats and roaches as inhabitants. Sort of reminiscent of Lagos and its relevance to Nigeria!

3. The foreclosures in the US market and the steep decline in the housing market stemmed from an abnormally high percentage of "sub-prime" mortgage loans and from bad decisions taken by wall streeters to securitize those sub-prime loans, creating a secondary market in a fundamentally bad derivative investment! When those sub-prime loans started to default, it created a domino effect and everything came crashing down and the Kings went dancing naked on the streets!

4. Housing in all but a few US markets has until recently, seen solid growth over time. Even average markets have seen 4 - 6% growth in the sector. A few markets have seen outstanding 20-25% growth (NYC, Silicon Valley etc). The foreclosures that you refer to, I see as an opportunity to amass a nice portfolio at a reduced price. Consider it a huge sale at your favourite department store! Remember the fundamental rule of investing? Buy low, sell high!

So Chanceman, yes, I stand by my original statement, because the investment in the US properties I referred to, will not only generate immediate income from rent, but will also eventually appreciate, and then I can sell high or pass on to my descendants after a couple of decades. In the meantime, that one house that you would have purchased in Lekki for the same amount would now be mouldy, sinking at the foundation, with cracking walls, all tiles and bathrooms broken, all taps and pipes leaking, roof leaking, with a sewage system that stinks to high heavens, thats assuming that the Atlantic OCean has not come back to reclaim its original position!

BTW Your bottom? Go shake that someplace else! Your arguments, like your bottom, are full of hot air!

info@lpf:
^^ Like I said previously, Chanceman, you clearly do not understand rules of investing, so I am wasting time on you. Have you ever heard of a little thing called Insurance? Yes, that takes care of those fires and earthquakes.

You talk about rate of returns -
1. If the ROI in Nigeria is so high, why is there a glut of badly finished buildings on the market?
2. Since you claim to know so much about ROI - calculate this, and post the results in your reply:

Option A:
Spend N50 million naira ($312,500.00) on 1 badly finished house, live in it with your family, spending upwards of N1M per year fixing plumbing, tiling, foundation and electrical problems, not to mention N1M for generator, diesel, service charges etc etc. No income from the property, except perhaps your rented out boys quarters at N400,000 ($2500) per annum. Your exit strategy may be to sell when value hits $500K, but with the real estate collapse in Nigeria, and flooding and sinking cities, when will that time come?

Option B:
Spend $300,000 buying 8 to 10 houses in some city outside of Nigeria, with solid growth projections, solid industrial economy, good education and a good population (note, this is not about Atlanta?). Derive income of a minimum of $500 per month per unit, for a total of $5000 per month, $60,000 per year (N9,600,000.00). Exit strategy? Buy and hold, deriving income for the next 30 years, use a small portion of income to pay for insurance, taxes, repairs and maintenance, and then pass on portfolio to my descendants.

The cream on the cake: Now, if I so desire, I can take N4M out of the income from my investments, and rent a suitable place in Nigeria, or simply pay for hotels when I am visiting.

Dude, do the math. I think you just got schooled!

info@lpf:
Quoting Chanceman:


By your statement, you show a fundamental lack of understanding of basic investment and economic principles!

1. Investing in property, just like investing in the stock market, should be for the long haul, except if you are a day trader. As such, periodic blimps and bumps may affect the overall net worth of your portfolio, but the economy usually recovers, and values return to historic highs. Go into history and track the trends over the last century.

2. Demand alone does not drive the prices of property. Availability of housing and land mass, jobs, geographic proximity to economic capital etc also play a huge role. NYC is a tiny strip of an island with no land growth opportunity thanks to the Hudson and East Rivers, it enjoys a close proximity to the nations capital, is the economic capital of the USA etc, etc. Dallas on the other hand still has new cities and subdivision not yet considered, and other than a surge of banks and tech firms head quartering there to spur growth, not much else to its economy! Quite simply, NYC has limited housing, so prices are high. The demand you speak of is relevant to NYC only because the other factors mentioned above are present, otherwise NYC would be just another dirty, noisy city by the water with abnormally huge rats and roaches as inhabitants. Sort of reminiscent of Lagos and its relevance to Nigeria!

3. The foreclosures in the US market and the steep decline in the housing market stemmed from an abnormally high percentage of "sub-prime" mortgage loans and from bad decisions taken by wall streeters to securitize those sub-prime loans, creating a secondary market in a fundamentally bad derivative investment! When those sub-prime loans started to default, it created a domino effect and everything came crashing down and the Kings went dancing naked on the streets!

4. Housing in all but a few US markets has until recently, seen solid growth over time. Even average markets have seen 4 - 6% growth in the sector. A few markets have seen outstanding 20-25% growth (NYC, Silicon Valley etc). The foreclosures that you refer to, I see as an opportunity to amass a nice portfolio at a reduced price. Consider it a huge sale at your favourite department store! Remember the fundamental rule of investing? Buy low, sell high!

So Chanceman, yes, I stand by my original statement, because the investment in the US properties I referred to, will not only generate immediate income from rent, but will also eventually appreciate, and then I can sell high or pass on to my descendants after a couple of decades. In the meantime, that one house that you would have purchased in Lekki for the same amount would now be mouldy, sinking at the foundation, with cracking walls, all tiles and bathrooms broken, all taps and pipes leaking, roof leaking, with a sewage system that stinks to high heavens, thats assuming that the Atlantic OCean has not come back to reclaim its original position!

BTW Your bottom? Go shake that someplace else! Your arguments, like your bottom, are full of hot air!

info@lpf:
Quoting Chanceman:


By your statement, you show a fundamental lack of understanding of basic investment and economic principles!

1. Investing in property, just like investing in the stock market, should be for the long haul, except if you are a day trader. As such, periodic blimps and bumps may affect the overall net worth of your portfolio, but the economy usually recovers, and values return to historic highs. Go into history and track the trends over the last century.

2. Demand alone does not drive the prices of property. Availability of housing and land mass, jobs, geographic proximity to economic capital etc also play a huge role. NYC is a tiny strip of an island with no land growth opportunity thanks to the Hudson and East Rivers, it enjoys a close proximity to the nations capital, is the economic capital of the USA etc, etc. Dallas on the other hand still has new cities and subdivision not yet considered, and other than a surge of banks and tech firms head quartering there to spur growth, not much else to its economy! Quite simply, NYC has limited housing, so prices are high. The demand you speak of is relevant to NYC only because the other factors mentioned above are present, otherwise NYC would be just another dirty, noisy city by the water with abnormally huge rats and roaches as inhabitants. Sort of reminiscent of Lagos and its relevance to Nigeria!

3. The foreclosures in the US market and the steep decline in the housing market stemmed from an abnormally high percentage of "sub-prime" mortgage loans and from bad decisions taken by wall streeters to securitize those sub-prime loans, creating a secondary market in a fundamentally bad derivative investment! When those sub-prime loans started to default, it created a domino effect and everything came crashing down and the Kings went dancing naked on the streets!

4. Housing in all but a few US markets has until recently, seen solid growth over time. Even average markets have seen 4 - 6% growth in the sector. A few markets have seen outstanding 20-25% growth (NYC, Silicon Valley etc). The foreclosures that you refer to, I see as an opportunity to amass a nice portfolio at a reduced price. Consider it a huge sale at your favourite department store! Remember the fundamental rule of investing? Buy low, sell high!

So Chanceman, yes, I stand by my original statement, because the investment in the US properties I referred to, will not only generate immediate income from rent, but will also eventually appreciate, and then I can sell high or pass on to my descendants after a couple of decades. In the meantime, that one house that you would have purchased in Lekki for the same amount would now be mouldy, sinking at the foundation, with cracking walls, all tiles and bathrooms broken, all taps and pipes leaking, roof leaking, with a sewage system that stinks to high heavens, thats assuming that the Atlantic OCean has not come back to reclaim its original position!

BTW Your bottom? Go shake that someplace else! Your arguments, like your bottom, are full of hot air!

Sagewood - Nigeria is far better (especially Abuja) to invest in terms of real estate/ property than in the USA or Europe.

gbollykore: When we were growing up , we were told not to eat with ten fingers, i strongly believe in this, and i also believe if you are determined you can achieve anything you set your mind on
building in Nigeria or not is a matter of priority, we need to set our priorities right, a lot of Africans live abroad and they deprive themselves and loved ones good things of life in a bid to build a house in Nigeria that they may never live in, some have young children that they are raising up abroad, they deny them of certain things, because they are building back in Africa
I live in the USA , i believe in, not eating with ten fingers, i strongly believe in my Original country Nigeria, i Love Nigeria passionately , but i have made up my mind not to be under any pressure to build in Nigeria, i work hard every day to enhance the quality of my family's life, i enjoy every day of my life and make the best of everyday that i live here, i invest in my family
my advice to fellow diasporans is to enjoy everyday of your life, if you can afford to build right now you should start( its very good to have a place in Nigeria) but please do not bow to pressure and punish your immedaiate family , dont live in a torn down appartment with your immedaiate family and build a mansion in Ogbomoso , oshobo, or Ikare that you may never live in or you only go there twice in a year if not once in two years, the mai guard ( security gurad) is the one enjoying the house if not extended family members
enjoy every day of your life, have fun , take your spouse on vacations, look good . feel good, pay for fitness centre have fun, dont kill yourself to build in Naija, but if the opportunity arises utilize it
we have heard of many africans that died on the street, working 2 , 3 jobs because they wanted to do things back home, dont get me wrong i love and respect my Root, but i have refused to allow anyone to put me under pressure
Live, Dont Exist, Truly Nigerian!

OkijaPriest: Most Nigerians living abroad are poor in comparison to their mates in Nigeria..

Then they come to Nigeria and think it costs 100 dollars to build a house. When they arrive, the harsh reality on ground hits them.. To some of them, its a rude awakening. I remember a guy who left Nigeria and returned after 12 years, when he came in and saw the level his peers had attained, My guy deported himself sharply and has started making mad bread.