The Power Of Compound Interest A Must Read For All Nairanders

The power of Compound interest.
 About 4 years ago afriend of my who got into real estate business use to have about 8 flats
(2 bedroom each) each of the flats rent for about 80k per year then ,So he makes about 640k per year from his
investment. Two years ago as a result of influx of people and businesses in this part of the country he wanted
to diversify is interest in real estate,  instead of collecting rent from his apartments, he wants to just build blocks
of flats and sell them off,he sold his 8 flats apartment for (15million) which serves as capital for the new idea as no bank was willing to
give him loan.He sold his 8 flats for 15million naira, (those a flats is currently being rented out for 180k by the new buyer)
He fix his 15million with Gt bank plc and got btw 14.5% to 15% .
In the last one year he has made about 2.25million from his investment in GT Bank.Meanwhile he has  a land somewhere in town  and has commenced building of 4 apartments of 2bedroom each
He started the building from proceed from his fixed deposit (the flats are being roof now).
He intends to sell off immediately after completion for btw 9 to 10 million.
My friend confides in me that his goal is to use compound interest to his advantage and build a capital base of about N100 million in 10 to 12 years time.
His new building project is being priced for 6million already, According to him if finish and sell off at 9million
he will add  it to his 15million  at GT bank.That will give him about N24million fixed ,which generate about 3.6million in another year for him.

I realy love his idea so much, he created the passion in me for real estate business ,
i was able to get a plot of land through him ,Now By the grace of God i have build 4 flats of twobedroom each,
whichs goes for 200k per year and i still have a enough space that can accomodate additional 6 flats.
Now i want to thread his path by tapping into the world of compound interest.

  Helo fummykemmy, what details do you want again? This guy has told a simple story of how his friend used his   common sense to make his money work hard for him. The glaring lesson in his thread is -- everyone of us should use our common sense with the seed in our hands! Oooooooooh! sorry,   i don forget say common sense no common for Nigeria!

 Quite an idea, but a lot of discipline would be needed.