buy car for uber.Land appreciation is relative.

Land lo me shey ooo.... just jejely find one legit land buy and also study the location to know how fast it'll appreciate in case you want to resell it.

sizer07:
Op... I have not read ur post but I have jump to answer your question. See real estate since this dullards called govt entered office is not what someone will trow money at hoping it will appreciate in one oh two years time, unless you want to buy and developed in which case you have planned it properly. The biggest mistake I did was sinking my capital back in 2015 in real estate hoping it will appreciate within months and I will cash out. Prior to this govt coming inn. Abuja that year, land business is so lucrative that you can buy,resale and make instant profit within 3wiks to one month. I bought mine at a new layout Orozo a satellite town One week before baba bubu and the cabals where sworn inn. we where all happy hoping with the string measures been taking by this govt in making sure corruption and other vise will be check mate and there will be enough capital in an real estate business, our guest was totally wrong as everything luck up. As we speak a land we bought for 1000sqm @800k, 2000sqm @1.5 .bought almost 15pis of land is now going for 300k n 700k respectively as we speak with pepe eye ,before APC came on board there market value was 1.3 and 1.9 instant profit cash and carry no go no come . Landed business and shares are the two things I will never advice my enemy to venture into. shares is worst. A friend sank 500k on share in an oil company back in 2015, today the share is worth 150k. Go buy sweet toyota corola and stat Uber and see how you will be smiling to the bank every weekends. Thank me letter

thanks

land is d best cos of it appreciate.Am into Real Estate, contact me if interested

aod1:
Hello nairalanders,
I and a friend were considering investment options, and the two ideas as stated above came up, which do you think is the best to go with?
What are the pros and cons of the two ideas?




Mods, please help move to front page so that we can get more insight

Land is actually not an investment but an Asset. Investment is any business or venture that gives you profit return periodically. Now imagine have 2m naira as your only money home and abroad. Will you buy land and stay hungry while you wait for it to appreciate or start a business that gives you monthly to survive and save up money for the land? Land na asset not investment.

I am aware uber operate in Ibadan. Is there anyone who have idea how profitable it is in Ibadan.

betterview:


400k on 600 bags?

How naa

Cement is sold with around 200 margin naa

You cannot sell cement with N100 margin.

InvertedHammer:

/
This is nairaland.
Learn to read some things for the entertainment they are.

/

Infact, you sabi Nairaland no be small.

When I read the comment, I was wondering whether it was not the cement business I left after some years of engaging in it.

If you can make N400K like that on cement, plenty people will leave their job to jump into it.

donsufia:
Buy car for UBA, use the proceeds from UBA business and buy land. Land appreciation takes a longer time than UBA business proceeds.

Thank me later.

UBA? Zenith nko

Hahahahahahahahaha
Coded

Slawormir:
Damnnnnn
My real niggarrr

Land appreciate niggarrr
But you have to wait for it to appreciate

But if you need slow money. Then invest on selling cement in developing area
For every six hundred bags of cement you buy and sell
You might get a profit of almost four hundred thousand naira

But if you want quick money then open an HK (huzzle kingdom)
Meet real niggarrrz for tools and format and be loyal to them. Because in this game nobody be super man. Every body still dey learn work

Olumeme:
If not in a very good location, land is not an investment, you only use it to tie money down.
And funny thing is that, a land might be for sale for good 2years and nobody will buy.

If you are gainfully employed, buy land, if you are not employed, buy car and drive yourself on Uber, don't buy a car and give to someone ooo if you dnt want to have HBP

Most sensible advice
Your comment bespeaks u speak from experience. Money for land should be spare money, money u intend not to use anytime soon.

I have affordable land to sell to you around Obasanjo farms
in Ota. Reply by quoting me and we will seal the deal

A305:
I stand to be corrected! In 1 year and 6month minus depreciation and car on HP, you can never recoup your Capital on a car bought for Uber.

While in 2 years minus depreciation, you can never fully recover your capital on a car bought for Uber on rental. I minused depreciation in both instances ooo. I have a car on Uber so I know what am talking about. Down time prior to driver, Accident, Car developing faults and the likes.

I don't own cars on uber or have indepth knowledge of the inner workings but I invested 4 million in a side business 3 to 4 years ago, it gives me 500k to 600k on the average per month now, and I still have my equipments, furniture, inverters worth about 2m now...sold the mikano I bought for 800 and got a smaller diesel gen(not connected to the discussion but excess power means excess waste of diesel)

I personally do not like the business of buying lands with intent to resell.
1. Security reasons... With numerous cases of land theft and based on I nor get level, I nor want stress or loss.

2. You won't get anything less than in the middle of a thick forest. Takes years and years to develop.

3. The land you see today may become a river tomorrow if you hadn't studied well before purchase, most especially in easily water logged state like Delta and rivers.

I would advice you get a car for uber instead of buying a land, uber gives daily income. Land on the other hand is more like a long term investment.

crafteck:


I don't own cars on uber or have indepth knowledge of the inner workings but I invested 4 million in a side business 3 to 4 years ago, it gives me 500k to 600k on the average per month now, and I still have my equipments, furniture, inverters worth about 2m now...sold the mikano I bought for 800 and got a smaller diesel gen(not connected to the discussion but excess power means excess waste of diesel)

Please, if you don't mind, can you share the business idea? I'm looking for a viable and profitable business to set up. I haven't seen one.
Thank you

maynia:
The question is basically between
Cash flow and capital gain.
Your choice.

Cash flow is more important in this present Nigeria economy but it's like many people who are saying "buy land" didn't know this.

ppogba:



Infact, you sabi Nairaland no be small.

When I read the comment, I was wondering whether it was not the cement business I left after some years of engaging in it.

If you can make N400K like that on cement, plenty people will leave their job to jump into it.

Lol. Cement with N50 profit per bag in my area

sizer07:
Op... I have not read ur post but I have jump to answer your question. See real estate since this dullards called govt entered office is not what someone will trow money at hoping it will appreciate in one oh two years time, unless you want to buy and developed in which case you have planned it properly. The biggest mistake I did was sinking my capital back in 2015 in real estate hoping it will appreciate within months and I will cash out. Prior to this govt coming inn. Abuja that year, land business is so lucrative that you can buy,resale and make instant profit within 3wiks to one month. I bought mine at a new layout Orozo a satellite town One week before baba bubu and the cabals where sworn inn. we where all happy hoping with the string measures been taking by this govt in making sure corruption and other vise will be check mate and there will be enough capital in an real estate business, our guest was totally wrong as everything luck up. As we speak a land we bought for 1000sqm @800k, 2000sqm @1.5 .bought almost 15pis of land is now going for 300k n 700k respectively as we speak with pepe eye ,before APC came on board there market value was 1.3 and 1.9 instant profit cash and carry no go no come . Landed business and shares are the two things I will never advice my enemy to venture into. shares is worst. A friend sank 500k on share in an oil company back in 2015, today the share is worth 150k. Go buy sweet toyota corola and stat Uber and see how you will be smiling to the bank every weekends. Thank me letter

Those who knew what was happening in Abuja real estate business during GEJ's era were aware that everything was fuelled by too much looted govt fund in circulation, nothing more. Every thief was sinking their money into real estate in Abuja and its environ. Why would a land appreciate significantly within a month if not fuelled by corruption. It was just like the period of ever rising in price of stock market. No difference

Both are good.I will elaborately give reasons why.

Land is always appreciating but not everywhere is a prime location.Land is a long term investment while Uber is a short term investment, however, both are good investment options .

Imagine spending 2m on land in Sango Otta vs in Benin city.You will be shocked that your land in Benin will appreciate over the one in Sango after 5 years.

I know many people who build houses inside Ikorodu,Ogijo,Agric, Agbado crossing, Ayobo, ipaja, etc that later leave their houses and go back to being a tenant because bad roads, stress of going back home daily, hold up ,etc. Even to see who to buy those houses, even at a reduced price is a big problem.
They bought those land maybe at 200k per plot.Now the lands is say 2m or more per plot, but the roads are terrible.What about those lands taken over by big bad gullies or erosions, are they not people's land? ,What about the places taken over by flood? Can those land be resold or sold now? They are people 'landed property and investments' too.

I know people who spent 5m naira to buy and build houses in some places,like ten years back and they are regretting it now. Even to see who will buy the house 3m now is not easy, such houses ought to have appreciated to 15 to 20m now it the location was good.

Most people only talk about the good side of land investment but quick to tell you about the bad side of other investments.What about those who were poisoned and later died because of land issues? What about those assassinated because of land tussle. What about those whose land was resold and taken to a more interior part of the city.What about those who bought 2 acres of land when the acres was only 1mnaira each, (note that acres here is 4plots,like 200x200,that is 4x100by100),then when a plot goes for 5m naira, meaning one acre is 20m naira, then the land grabbers (omoniles),will resell the land and give the person his 2m back maybe after 7 to 10 years.
These are facts and real life experiences, not joke.Land matter is not a cup of tea.Many things are involved.
Some buy land in acres and the land grabbers use charm and the person will not even remember the place again and they will resell the land again to new 'victim's,until they met a serious born again with acidic prayers,who used his dangerous prayers to stop and destroy all their demonic scams.

Note that land is easier to dispose off (sell) than a house. If you must invest in a landed properties,do only lands. But only GENUINE land, get ALL necessary papers and fence it,lock it up, or build a small security house so someone can live inside and farm there. You can build a good house in a good serene environment for your comfort and living, not because you have issues with your landlord, then you pack into an incomplete building inside a far away site(bush) in the name of 'being a landlord" and start suffering yourself and your family. Is not worth it. You are killing yourself gradually,
Do not build house as investments because, if you buy land now and build house say, you buy land 5m,and you use 25m to build 4 flats(3bedrooms *4). Making it a total of 30m naira, even if each tenant is paying you 300k yearly which 1.2m yearly, in 20 years, you have not recouped your investment. Remember that agent is fees, money for house miscellaneous repairs are inside that 1.2m yearly.
Secondly, in less than 15 years, whatever you use to build that house will be 'old school', newer houses will be built, yours will lose that modern 'touch'. So it is mostly your children who will inherit and enjoy the investments more.. But you always resell a land easily, without much hassles.



Talking of Uber, is also a good investment option. Many say do Uber, if only you will drive it. But i will not subscribe to that. You can buy cars,say 2Toyota Corollas for Uber @2m each, then get serious minded drivers with guarantors whose has landed properties, then track the cars, and sign an agreement for HP.
HP means hire purchase, then give out the cars for 4m each, the driver will be paying you 200k monthly, in 20 months, the driver must have finished the payment and the cars turns his own and your agreement is over.

So imagine if you have 5 cars like that, monthly you will be making 1m passively without stress,while you continue your normal work.If you drive the car directly, you will even make more than that in 20monthly except you are lazy.
Do not buy Uber and give anyone except for HP, with the car tracked and agreement endorsed with good guarantors in place.Make it strictly business,no stories.
Alternatively, you can invest with fleet partners to take car of your cars,while you get your returns monthly.
These days, people buy cars or pay the equivalent of car worth to fleet partners to manage their investments and this is also oaying well. Imaine you having 10 new Hummer buses with #God is Good Motors...plying Lagos to East, or Lagos to Abuja week in,week out. You will be smiling to bank monthly.

Then from the monthly proceeds, you can now take a loan, buy a land and use the car proceeds to service the loan,instead of tying all your money down in land only.

Now you have a business that pays monthly, and you have also bought a land. What a win win situation.

aod1:
Hello nairalanders,
I and a friend were considering investment options, and the two ideas as stated above came up, which do you think is the best to go with?
What are the pros and cons of the two ideas?

Mods, please help move to front page so that we can get more insight

Invest your money something that brings you money everyday, you will eventually realise money to buy land from it.

betterview:


400k on 600 bags?

How naa

Cement is sold with around 200 margin naa

I wonder oooo #200 is too much self

I can give you 10% interest on any amount you give to me

Go for the land but make sure u do that in ur home town. And be extremely careful.

nextstep:
Given a choice in today's environment, I will buy tbills.

Somebody else has made a good case against land, though I don't fully agree (I develop land to rent, not just buy and hold), so our experiences with this PMB era may be different.

Let me attempt to discourage you from buying a car:

I'm assuming a car of about 3M, a cost that includes paperwork (registration, uber related fees, insurance, tax, etc.).
In tbills, 3M @ 12% annually is 360,000k. No further work needed from you for the rest of your life to get this return annually.

Typically, most drivers I know make around 30k/week. You'll likely work 46 weeks (not 52 because you will take breaks, get sick, travel, car breaks down, days with fewer customers, etc). Fuel will cost you at least 15k/week with all that driving, not to mention wear and tear and more frequent maintenance. After all is said and done, you might be lucky to see 15k/week after all associated costs (tolls, police, vulcanizer, stress). Not counting that the car you have is depreciating in value.

46 weeks X 15k is nearly 700k, with a lot of effort.

Sure 700k is more than 360k, but the latter comes without any effort, and oh, you still get to keep your 3M in cash. You can also use your time (which you're not using to drive) to work elsewhere.

Your maths for uber is a joke

My cousin started by driving his own corrolla in 2017. As we speak be has 3 and still drives his own and bags average of 50k a week while collecting 30k rentals

Clean uber toks corrolla cost 1.7 or 1.8 with paper work 1.9
If he drives it by himself he has recouped his capital after one year

Cash flow index. Building a steady stream of income...

Newguyhere:
Non! . land or car isn't an investment in a third world country
Learn a digital skill and start freelancing
My 2 cents

Mind telling me how to go about freelancing?

We would like to bring a few important things to your notice

1. The 5% discount promo on sales of plots at The Enclave has finally ended on the 31st of October and the price per plot has returned to the original price of N850,000 per plot

2. We are also glad to announce that by the grace of God, construction works on The Enclave have been scheduled to commence this month.

3. To this effect, we would also want to announce that the price per plot at The Enclave will be going up to N1.5million.

The new price increase will take effect on the 1st of December.

4. We would also like to announce that a proposed date for physical allocation of plots has been fixed for the 21st of December, 2019.
Call us now: Ik.j. realtors 08064740699

Invest In Areas where you can have Fast Returns on Investment

studentofTruth:


Please, if you don't mind, can you share the business idea? I'm looking for a viable and profitable business to set up. I haven't seen one.
Thank you

Check my posts.. Keep it in mind what works for one person won't necessarily work for others, and there's nothing like food business

NonFarmPayrol:


Your maths for uber is a joke

My cousin started by driving his own corrolla in 2017. As we speak be has 3 and still drives his own and bags average of 50k a week while collecting 30k rentals

Clean uber toks corrolla cost 1.7 or 1.8 with paper work 1.9
If he drives it by himself he has recouped his capital after one year

How much is he really keeping after all costs? You're telling me he used that initial 1.9M to get 2 more cars (via profits), and he consistently makes 80k a week total profit (after fuel, etc)? If so I'm impressed, for that is rare in my experience.

nextstep:


How much is he really keeping after all costs? You're telling me he used that initial 1.9M to get 2 more cars (via profits), and he consistently makes 80k a week total profit (after fuel, etc)? If so I'm impressed, for that is rare in my experience.

Uber is not for lazy people

Anyone who owns their own corrolla and is not lazy. Should get decent income from cab biz