Investing In Properties For Rent (a Case Study Of Single Rooms) - Properties - Nairaland
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| Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 6:22am On Nov 18, 2013 |
Hello my good people, we bring you greetings. We gather here once again to do something very different from what we have been doing. Lets do some business! After brainstorming on some of my previous threads about the business and profitability of building rental properties, I was contacted by a nairalander to walk the talk. We intend to build a full house of single rooms at the cheapest cost and rent same for the increasing Nigerian population, all for profit. I am fully focused on the profitability of this business, so I will be watching the ROI, (return on investment) very keenly. We have selected and bought two plots of land for this investment. As usual, the construction of the house, costing, renting and the final breakdown of the profit margin and projection into the near future will all be done here on this forum. Join me once again to make this another great thread, Welcome. The ideas for this project came from here https://www.nairaland.com/720053/business-profitability-rental-properties Pictures to follow. 1 Like |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by Val2001: 7:54am On Nov 18, 2013 |
ok, reporting to class |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by frodobee: 11:42am On Nov 18, 2013 |
I am in. Thank you for the free knowledge bits. Dont fail to call on us for your granite needs- in the field of mining and exploration of GRANITE, PAUL-B NIG PLC walks the talk. |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 10:22pm On Nov 19, 2013 |
When investing in this class of properties, I dont go looking for well developed plots, I look inside, in a less developed area. That is where I buy plots that are cheap enough to give me the profit I seek.
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| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 10:32pm On Nov 19, 2013 |
fell all the trees, cut down the bush and prepare the ground for digging and more works......
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| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 10:34pm On Nov 19, 2013 |
More clearing of the new site
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| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 10:37pm On Nov 19, 2013 |
We also brought in a chain saw, cut up all the trees to smaller bits for easier removal from the building space.
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| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 10:50pm On Nov 19, 2013 |
Gather all the dried grasses and burn them, I wish we caught a bush meat here  The fire would have been very useful
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| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 11:02pm On Nov 19, 2013 |
Yes we move with electric speed, thats why er are called the Spyder team. (Tigerkenn Homes Nig. Ltd) We start to assemble the materials, sand landing with gravel, blocks and cement is coming right after the truck finish dropping our sand.
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| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 11:15pm On Nov 19, 2013 |
We break the ground by tomorrow, then blinding and other works will quickly follow. |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by mufutau55(m): 1:05am On Nov 20, 2013 |
spyder880: When investing in this class of properties, I dont go looking for well developed plots, I look inside, in a less developed area. That is where I buy plots that are cheap enough to give me the profit I seek. I don almost miss this class oh.. Wisdom of Oga Spyder in the above quotes.. I am here to learn more. Hajji Mufutau |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 5:28am On Nov 20, 2013 |
mufutau55: Welcome my Oga, this thread is all about squeezing out profit from an investment option, we continue work today. |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by Sunglow: 12:32pm On Nov 20, 2013 |
This thread is timely.I have two plots of land somewhere At Agabara and I want to do something similar.I will definitely be learning a lot of stuff from this thread.Thank you |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by mufutau55(m): 3:59pm On Nov 20, 2013 |
spyder880: I am following you brother. Profit is what we need... As a CPA, I learnt that from my Accounting 101. Hajji Mufutau |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by nairacountry(m): 4:43pm On Nov 20, 2013 |
mufutau55:Profit/cost cutting without compromising d standard. |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by mufutau55(m): 4:46pm On Nov 20, 2013 |
nairacountry: True, 100%. Without compromising of quality standard. But that is Oga Spyder's motto anyway, "quality standard". Hajji Mufutau |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 4:55pm On Nov 20, 2013 |
Important questions. 1. How much did you buy the land? 2. How much will be used to build this house? 3. How much money is this house going to be making every year? 4. How many years will it take the landlord to recoup all his investment? 5. How much is the projected yearly income, minus expenses after the whole investment is recouped? 6. How much will the property be worth by the time I have recouped my investment? 7. What other uses can I turn this land into, when it has matured and the property is in a well developed area some years later. 8. What are the opportunity costs of this option? 9. What are the major drawbacks? 10. How best do I manage the investment? Still thinking......... |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by mufutau55(m): 5:12pm On Nov 20, 2013 |
spyder880: Important questions. All your questions above are very relevant.. Can we see the 3D pf how the buildings will look like? This really interests me. Hajji Mufutau |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by Fhemmmy: 6:04pm On Nov 20, 2013 |
spyder880: Important questions. Thinking cap is on . . . |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by Extralarger(m): 4:28pm On Nov 21, 2013 |
subscribed |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 10:45pm On Nov 21, 2013 |
Meanwhile we have completed all the foundation of this house, we have blinded the foundation with concrete till 60%. We start laying blocks inside the completed portion from tomorrow while blinding the rest by tomorrow. More pictures tomorrow. |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by Whitehorse: 7:35pm On Nov 22, 2013 |
Coming out of silent (Ninja) mode.... Spyder, Where is this property located if you dont mind telling us? Location is very important i'm sure you know already... As an example, i bought two back to back plots of land about 10 minutes drive after Agbara along badagry expressway in Lagos about 3+ years ago. Each plot cost me N600k then, but now its over N1m each. I'm currently building 4 units of 2 bedrooom flats on a plot, leaving the other plot empty. These flats will be something simple, fit for rentals in that area. Its all about ROI... I'm curious to see the figures you've worked out for this your single bed project @ Spyder |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by kostadinis: 11:41pm On Nov 23, 2013 |
Spyder's take on the cost of building single rooms and the expected returns was the accurate case study of the man's professional development. Surely, one of the attributes that makes him thick is about to unfold. And for this one, I'm fully in. |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 12:09am On Nov 24, 2013 |
Whitehorse: Coming out of silent (Ninja) mode.... This property is located in the Nike area of Enugu, in a fast developing area. We are still working out the costs. |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 12:10am On Nov 24, 2013 |
kostadinis: Spyder's take on the cost of building single rooms and the expected returns was the accurate case study of the man's professional development. Thank you Sir, this one is strictly for business and we are going to try saving every penny, that way profitability is enhanced. |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 12:13am On Nov 24, 2013 |
We are still working inside the foundation of this house, after all the blinding we are now laying the foundation blocks.
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| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 12:13am On Nov 24, 2013 |
We have the rooms all demarcated
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| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 12:14am On Nov 24, 2013 |
Front of the property......
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| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 12:15am On Nov 24, 2013 |
more...
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| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 12:17am On Nov 24, 2013 |
We got an ample supply of materials, and I am already ordering for more as this house will consume many many blocks.
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| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by kostadinis: 1:03am On Nov 24, 2013 |
Thanks for staying up this late. What is the estimate of the total number of blocks? |
| Re: Investing In Properties For Rent (a Case Study Of Single Rooms) by spyder880(m): 1:32am On Nov 24, 2013 |
kostadinis: Thanks for staying up this late. What is the estimate of the total number of blocks? This house will consume about 8000 blocks, justification; There are about 7 blocks on each wall, there are 4 walls on each room 7x4=28 There are 16 courses of blocks in this house, (including the 4 courses in the foundation) 28x12 = 336 for each room There are 24 rooms in this house 336x24 = 8064 blocks The toilets and bathrooms may consume about 1500 blocks Some rooms have joint walls -2000 blocks deducted Make a provision of 400 for breakages. Although block calculations are far from accurate, owing to door and window spaces, there are still many additions not counted, wall demarcations planned between each units and the balcony walls will still add to the quantity. In conclusion I think 8000 blocks is a fair estimate for this house. 1 Like |
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