4 units of 3 bedroom flats @ Idowu Estate, Oke-Ira, Ajah.
Rent is N600,000 p.a per flat i.e. N2,400,000 for the entire building.
Asking Price is N30,000,000.

bebe2:


can i have some picture? whats the number u wrote there?

800k for the 4flat per year?

wat year was the house built?

how close is it to the main road?

its about 5minutes from the road with pkada. My colleague
saod je will source something close to the road for you.If you wish to discuss with him 1 on 1, I can send you his number. He is a guru when it comes to Ikorodu.The property is 10years old

euromilion:
I have 7 flat for sale 6mini flat and one 3bedrooms new building 99% completed.

Property at ikotun area of Lagos.

Asking price:32million.

hahahaha,

can i pay by instalment?

too high

bebe2:


hahahaha,

can i pay by instalment?

too high

Hahahaha,instalment?how do you mean?.

To tell you the truth am not into selling properties,just that am sick of Nigeria investments,I'll not invest in that country again.

I have decided to dispose my three properties over there and never to put money there again.

If you have such money to invest,I'll recommend you come to ireland,properties are doing well here,I can partner with you if you want.

However,if you are really serious about Lagos property,make me an offer and we can take it from there.

bebe2:
thank you all for you contributions.
i decided to get a plot in ajah.

if any agents here have properties pls post them here with full specifications and pictures.
tnk u.

HI everyone,
am going to keep it short,

the pound to naira exchange rate is going thru the roof, and i think its the best time to invest in nigeria

BUT i dont want to buy a plot and build as i have been ripped off before in the building process.

i cud also buy a cheap property in the uk, but my fear is how things go can terribly wrong in the west, the recent crash comes to mind.

can i get a gud 4flats in a gud area of lagos for about #20m dat can revenue about 1.2m a year?
which area shud i be looking at?

all suggestions appreciated.

N.B
PLS dont pm me. all discussions shud be solely done on the forum.
thank u

You will get screwed at last go to agent in Lekki or Ajah if you need help! most of the people on here don't know anything about building,i can help you to build 8 flats of 2bedroom each with less than 20million in ibadan which will generate you 1.2million naira,the one i built in ibafo is generating 2.4million naira,another advice is,if you actually have 20million naira cash please go and build hostel,i can help you to build 30 standard self contain to generate you 3million naira

bettercreature:
You will get screwed at last go to agent in Lekki or Ajah if you need help! most of the people on here don't know anything about building,i can help you to build 8 flats of 2bedroom each with less than 20million in ibadan which will generate you 1.2million naira,the one i built in ibafo is generating 2.4million naira,another advice is,if you actually have 20million naira cash please go and build hostel,i can help you to build 30 standard self contain to generate you 3million naira

i also want something where we can stay on vacations hence am saying lagos.

the hostel option seems tempting, but it has its down side too.

and a lot of hassle with students messing things up but i hear

getting rent is not an isuue sibe they pay before moving in.

which location are u thinking with the hostel.

euromilion:


Hahahaha,instalment?how do you mean?.

To tell you the truth am not into selling properties,just that am sick of Nigeria investments,I'll not invest in that country again.

I have decided to dispose my three properties over there and never to put money there again.

If you have such money to invest,I'll recommend you come to ireland,properties are doing well here,I can partner with you if you want.

However,if you are really serious about Lagos property,make me an offer and we can take it from there.

bro pls share ur experience, i live in the uk and have thot long and hard about this,

i deally i want to invest where my kids can have access to it and i can have daily knowledge of the happenings.

but the uk govt and its system frustrates pples effort.

i really dont feel like investing in the uk.

bebe2:


i also want something where we can stay on vacations hence am saying lagos.

the hostel option seems tempting, but it has its down side too.

and a lot of hassle with students messing things up but i hear

getting rent is not an isuue sibe they pay before moving in.

which location are u thinking with the hostel.

Ogun state is the best place for hostel at the moment,they have 11 higher instutions and land is very cheap there

bebe2:


bro pls share ur experience, i live in the uk and have thot long and hard about this,

i deally i want to invest where my kids can have access to it and i can have daily knowledge of the happenings.

but the uk govt and its system frustrates pples effort.

i really dont feel like investing in the uk.

I think we both share the same sentiments,if we die today our properties in Nigeria will be taken by relatives that didn't know how we struggled to achieve whatever we had,(God forbid).

To me it was a big a mistake investing in 9ja with little or no return of investment,my property over here is performing better than those in 9ja and beside I don't see myself moving back 9ja nor my kids.

Anyways,research ireland and ask me questions if you wish,but I guarantee you that your investment will perform better here than in Niger and with peace of mind too.you don't have to partner with me either,am sure will know one or two persons in ireland,however you can buy Ryanair flight to ireland for as low as €12 to ireland from uk.

Just do your own search,you be glad u did.

euromilion:


I think we both share the same sentiments,if we die today our properties in Nigeria will be taken by relatives that didn't know how we struggled to achieve whatever we had,(God forbid).

To me it was a big a mistake investing in 9ja with little or no return of investment,my property over here is performing better than those in 9ja and beside I don't see myself moving back 9ja nor my kids.

Anyways,research ireland and ask me questions if you wish,but I guarantee you that your investment will perform better here than in Niger and with peace of mind too.you don't have to partner with me either,am sure will know one or two persons in ireland,however you can buy Ryanair flight to ireland for as low as €12 to ireland from uk.

Just do your own search,you be glad u did.

even uk is very gud for property investment,

but when crashes happen, or they decide u have back taxes etc then they start to bleed u dry.

i even thought of america, still not sure wat to do.

what issues did u have with nigeria investments, non payment of rents?

how about buying lands, fence and leave it to mature , then sell it on.

@bebe2,

Have you considered Maryland Estate, Badore. 2 bedroom flat go for 700k, 1 bed is 500k and you can have 8 units on a plot.

Land still sells between 6 - 10m in the area and the occupancy rate is higher.

I'm not an agent not canvassing for business. Just an advice if you want quick ROI. Building is not just saving cost of materials but getting good ROI.

Why will you choose Ogombo over Maryland?

Cost? You'll realize your extra spend on land within the first 6 months.
Neighbourhood? We won't be fair comparing Ogombo with Maryland where there's better planning.
Security? It amaze me that there's less of Omo-Onile issues in Maryland unlike Ogombo where it is their main business.
ROI? The most beautiful 2 bedroom flat in Ogombo will go for 400k at most, whereas the most ugly 2 bedroom in Maryland BADORE goes for 600k.
Infrastructure? Why invest in an environment where you can only leave on empty promise? Govt will fix the road in XYZ year, bla bla blah. The road in Maryland is one of the best road done in any residential estate I've seen around that area and it is well managed with dedicated generator powering the streetlights everyday.

Edit:
Occupancy Rate? You'll hardly find a vacant house in Maryland, Badore whereas you need to do promo to get one flat rented in Ogombo. Quote me. Unbelievable! The land I helped a client to conduct a soil test in 2011 is still there empty and undeveloped even in 2016. It's actually located in the prime area. Beside, the tenants you attract in both location are different.

The biggest mistake starts from location. And choosing a good one. A good location is a sell on its own whether here or abroad. We need to always ask ourselves this question "3 years from now, will I want to live here myself?" "Is there a better choice?"

A good house in a wrong location is a bad investment. It cost almost the same figure to build in Lekki and Iyana Ipaja but the rent is incomparable. ~ Brabus.

Happy Hunting!

________
Good Scenarios

1. I've built a 3 apartment house within a year for someone here for 40m, land, fence and documentation cost additional 10m and the first year rent alone is 7.5m which means she will recover her fund in less than 7 years. Within the first 3 months, rent per flat has gone up to 3m which means she's getting 9m next year excluding maintenance fees.

2. I've built a 3 unit lockup shops and a security house for a client on here for 1.2m in a location on the mainland and the rent is 60 or 70k per annum. Meanwhile, a similar shop built on almost the same budget in BADORE road goes for minimum of 300k per annum for each shop.

Property investment is cool in Nigeria but people actually pay for the location than the actual property itself. ~ Brabus

brabus:
@bebe2,

Have you considered Maryland Estate, Badore. 2 bedroom flat go for 700k, 1 bed is 500k and you can have 8 units on a plot.

Land still sells between 6 - 10m in the area and the occupancy rate is higher.

I'm not an agent not canvassing for business. Just an advice if you want quick ROI. Building is not just saving cost of materials but getting good ROI.

Why will you choose Ogombo over Maryland?

Cost? You'll realize your extra spend on land within the first 6 months.
Neighbourhood? We won't be fair comparing Ogombo with Maryland where there's better planning.
Security? It amaze me that there's less of Omo-Onile issues in Maryland unlike Ogombo where it is their main business.
ROI? The most beautiful 2 bedroom flat in Ogombo will go for 400k at most, whereas the most ugly 2 bedroom in Maryland BADORE goes for 600k.
Infrastructure? Why invest in an environment where you can only leave on empty promise? Govt will fix the road in XYZ year, bla bla blah. The road in Maryland is one of the best road done in any residential estate I've seen around that area and it is well managed with dedicated generator powering the streetlights everyday.

The biggest mistake starts from location. And choosing a good one. A good location is a sell on its own whether here or abroad. We need to always ask ourselves this question "3 years from now, will I want to live here myself?" "Is there a better choice?"

A good house in a wrong location is a bad investment. It cost almost the same figure to build in Lekki and Iyana Ipaja but the rent is incomparable. ~ Brabus.

Happy Hunting!

________
Good Scenarios

1. I've built a 3 apartment house within a year for someone here for 40m, land, fence and documentation cost additional 10m and the first year rent alone is 7.5m which means she will recover her fund in less than 7 years. Within the first 3 months, rent per flat has gone up to 3m which means she's getting 9m next year excluding maintenance fees.

2. I've built a 3 unit lockup shops and a security house for a client on here for 1.2m in a location on the mainland and the rent is 60 or 70k per annum. Meanwhile, a similar shop built on almost the same budget in BADORE road goes for minimum of 300k per annum for each shop.

Property investment is cool in Nigeria but people actually pay for the location than the actual property itself. ~ Brabus

U see, here lies my problems, when u say Maryland, first thot was mary land near osho di, until I saw badore.

I will research on the badore , pls I need suggestions, am not a lagosian which makes things even more difficult. If u know ant gud area that is clean that I can invest in and cud also suit my family needs wen we visit pls do let me know.

I know u are not an agent but little pointers in the right direction wud help.

And u fit even help me build am sef

bebe2:


U see, here lies my problems, when u say Maryland, first thot was mary land near osho di, until I saw badore.

I will research on the badore , pls I need suggestions, am not a lagosian which makes things even more difficult. If u know ant gud area that is clean that I can invest in and cud also suit my family needs wen we visit pls do let me know.

I know u are not an agent but little pointers in the right direction wud help.

And u fit even help me build am sef

Open a new thread "Urgent Request: A Plot of Land (648sqm) in Maryland Estate Badore." Put your budget and let's see how it goes.

At the end of everything, a house that can take care of you when you're old is what matters

brabus:


Open a new thread "Urgent Request: A Plot of Land (648sqm) in Maryland Estate Badore." Put your budget and let's see how it goes.

Ok, gud idea.

Are there another areas I shud be looking at so I don't have all my eggs in one basket.

bebe2:


Ok, gud idea.

Are there another areas I shud be looking at so I don't have all my eggs in one basket.

I don't have any in mind yet except you want to go for land flipping. Buy, fence, do documentation, keep for 6 months or more and sell off.

However, I'll keep my ears to the ground and let you know if there's any good offer.


__________
I knew of a place around Lagos Business School (LBS) (which is also a good location if you're considering mini flats for seniors especially LBS/Pan African University students) within that budget BUT I won't advice you on something that'll cost fortune to build. The land is on the receiving end of a steady slope. Slope ain't good o.

brabus:


I don't have any in mind yet except you want to go for land flipping. Buy, fence, do documentation, keep for 6 months or more and sell off.

However, I'll keep my ears to the ground and let you know if there's any good offer.


__________
I knew of a place around Lagos Business School (LBS) (which is also a good location if you're considering mini flats for seniors especially LBS/Pan African University students) within that budget BUT I won't advice you on something that'll cost fortune to build. The land is on the receiving end of a steady slope. Slope ain't good o.

i dont mind land flipping, just want to lock my money down in secure investment before it all evaporates.

even if its somewhere on the mainland. my budget is 6m, if i can get 2 plots in different areas, one dat wud be sold later
the other cud be our future family home.

bebe2:


i dont mind land flipping, just want to lock my money down in secure investment before it all evaporates.

even if its somewhere on the mainland. my budget is 6m, if i can get 2 plots in different areas, one dat wud be sold later
the other cud be our future family home.

If that's the case, you should do more research Aunty. Building aren't fun as you may have realized. As a matter of fact, we need to have a concrete business plan before setting any stone in mortar. Just as you're doing it now. It's not good to get midway and start asking for directions.

A lot of mainland investment are overpriced. They yield little returns (don't mind me o but I'm for quick returns). I can still imagine less than 1m rent in surulere when new areas in Lekki gives even more.

________
As per land discussion, I don't know much but I can tell a good land from bad one using all the key indicators. I have one or two deals that I've locked down in Ibeju for 1m per plot but I'm still researching the land. Good location and very close to the Lekki/Epe expressway. Just about 3 mins drive. And walking distance to ARM Beechwood Estate. One could actually survive without raft foundation in the area.


________
On a light mood, wishing you a Happy Birthday in advance! May God bless your new age. I happened to have a sister who's also hitting that new age this year.

brabus:


If that's the case, you should do more research Aunty. Building aren't fun as you may have realized. As a matter of fact, we need to have a concrete business plan before setting any stone in mortar. Just as you're doing it now. It's not good to get midway and start asking for directions.

A lot of mainland investment are overpriced. They yield little returns (don't mind me o but I'm for quick returns). I can still imagine less than 1m rent in surulere when new areas in Lekki gives even more.

________
As per land discussion, I don't know much but I can tell a good land from bad one using all the key indicators. I have one or two deals that I've locked down in Ibeju for 1m per plot but I'm still researching the land. Good location and very close to the Lekki/Epe expressway. Just about 3 mins drive. And walking distance to ARM Beechwood Estate. One could actually survive without raft foundation in the area.


________
On a light mood, wishing you a Happy Birthday in advance! May God bless your new age. I happened to have a sister who's hitting that new age this year also.

to be honest with u, not in the mood for building atall.

wud rather buy a few and secure it.

help me be on the look out pls.

thnks for the birthday wishes, still have a couple of years to go sha

bebe2:


to be honest with u, not in the mood for building atall.

wud rather buy a few and secure it.

help me be on the look out pls.

thnks for the birthday wishes, still have a couple of years to go sha

Good thinking. Just few is ok. Don't get greedy! I see some people loosing their lands to greedy land urchins or land grabber when they can't control them anymore.

Brabus made a lot of valid points,well and good in a sane country,but see,Nigerians are very wicked people,they are constantly thinking on how to do u out of pocket.many will pay first and second yr rent and then from there onward na beg or court order will be the next thing,before you know it 5yrs has gone,you never get any rent,before u come one day u go hear say the tenant when dey owe u 5 yrs rent don move into his own new house which he built with your rent money,then u start again from square one wit a new tennant from where u stopped wit the old one ,I can go on and on.

Talking of crash:
Crash is a good thing for cash buyers,best time to buy is after crash which is now.let me tell u a little story,last yr I went to view a little cottage which was going €90k,I was pessimistic about it,I went back a week later it was gone,today that cottage is selling for 210k,if to rent it out u'll be €1200-1400pm,so check it.

Buying land and holding to sell(land speculator):
It's a good idea,but not for faint hearted person,because you will surely come across one or two that will go wrong,and if u are not careful it may cost yr life,especially in Lagos,buying land in any Nigeria City is always a risk.one new governor may come into power and before know it he ll say all gov consents are revoked like joke like joke he'll send army to kick everyone out.

Nigeria judiciary are not strong,they don't uphold the law,any investment in Nigeria is disaster waiting to happen.I can go on and on,although my main issue is that ROI in nig is very poor compare to the risks.

euromilion:
Brabus made a lot of valid points,well and good in a sane country,but see,Nigerians are very wicked people,they are constantly thinking on how to do u out of pocket.many will pay first and second yr rent and then from there onward na beg or court order will be next thing,before you know 5yrs has gone,you never get any rent,before come one day u go hear say the tenant when dey owe u 5 yrs rent don move into his own new house which he built with your rent money,then start again from square one wit a new tennant from where u stopped wit the old one ,I can go on and on.

Talking of crash:
Crash is a good thing for cash buyers,best time to buy is after crash which is now.let me tell u a little story,last yr I went to view a little cottage which was going €90k,I was pessimistic about it,I went back a week later it was gone,today that cottage is selling for 210k,if to rent it out u'll be €1200-1400pm,so check it.

You're right. That's why I'm talking about getting the location right. Most court cases always happen on the mainland. In fact, that's where we have 98% of courts in Lagos. That's not to say there's no landlord/tenant palaver on the island but you'll deal more with land issues on the land island than collection of rent because of the class of people living there. Pls don't see this as rating o!

People do form big boys in Lekki though. But you won't survive it for long. 90% of those people who rent on the island are office workers that you can easily obtain their background. And more interestingly, they don't spend most time in the house which makes it almost maintenance free. Unlike some area, where jobless tenants will turn your house into office calling it work-from-home.

I wish we have people or a website that can help people (especially diasporans) compare sites for their best value, uses and quick ROI so that people can make best decision.

Not all grounds are fertile ground bro.

brabus:


You're right. That's why I'm talking about getting the location right. Most court cases always happen on the mainland. In fact, that's where we have 98% of courts in Lagos. That's not to say there's no landlord/tenant palaver on the island but you'll deal more with land issues on the land island than collection of rent because of the class of people living there. Pls don't see this as rating o!

People do form big boys in Lekki though. But you won't survive it for long. 90% of those people who rent on the island are office workers that you can easily obtain their background. And more interestingly, they don't spend most time in the house which makes it almost maintenance free. Unlike some area, where jobless tenants will turn your house into office calling it work-from-home.

I wish we have people or a website that can help people (especially diasporans) compare sites for their best value, uses and quick ROI so that people can make best decision.

Not all grounds are fertile ground bro.

True bro.

euromilion:
Brabus made a lot of valid points,well and good in a sane country,but see,Nigerians are very wicked people,they are constantly thinking on how to do u out of pocket.many will pay first and second yr rent and then from there onward na beg or court order will be the next thing,before you know it 5yrs has gone,you never get any rent,before u come one day u go hear say the tenant when dey owe u 5 yrs rent don move into his own new house which he built with your rent money,then u start again from square one wit a new tennant from where u stopped wit the old one ,I can go on and on.

Talking of crash:
Crash is a good thing for cash buyers,best time to buy is after crash which is now.let me tell u a little story,last yr I went to view a little cottage which was going €90k,I was pessimistic about it,I went back a week later it was gone,today that cottage is selling for 210k,if to rent it out u'll be €1200-1400pm,so check it.

Buying land and holding to sell(land speculator):
It's a good idea,but not for faint hearted person,because you will surely come across one or two that will go wrong,and if u are not careful it may cost yr life,especially in Lagos,buying land in any Nigeria City is always a risk.one new governor may come into power and before know it he ll say all gov consents are revoked like joke like joke he'll send army to kick everyone out.

Nigeria judiciary are not strong,they don't uphold the law,any investment in Nigeria is disaster waiting to happen.I can go on and on,although my main issue is that ROI in nig is very poor compare to the risks.

Yeah, I knew it was the rent issue that discouraged you.

I followed a thread here a few years ago , think it was gabbytabby and his/her tenant.

And from there I started to fear nigeria tenants, the way the tenant frustrated the landlords efforts and totally ridiculed him. Stuff like dat scares me, don't want stress in my life.

As for investment here in the uk, if I have £70k cash then I will definitely opt for a terraced house here.

I have also thot of Spain, but not sure how rent issues work over there but I know properties are much cheaper.

money has a way of disappearing from me if I don't lock it down, so need to do something asap.

Think I will go for the land flipping for now and secure all my other landed properties.

The plan is to move back to nigeria, Spain or Florida after retirement, wud prefer naija but with the current political climate , who knows if there will still be a country to retire to.

@OP, 1 plot of land @ Greenvile estate, Badore @ 5M. Go for this if you want to build. Rent is 1M for 3 B.D.

1 plot at Harmony estate Badore @ 3M.
1 plot at Abijo @ 2.5M.

Go for the last two if you are into land flipping.
Direct briefs from my omonile friend. Don't waste your money on mainland abeg unless it's places like Ikeja GRA,Magodo, Apapa GRA or Ogudu GRA which are unfortunately sold out or super expensive.

bebe2:


to be honest with u, not in the mood for building atall.

wud rather buy a few and secure it.

help me be on the look out pls.

thnks for the birthday wishes, still have a couple of years to go sha

u can come and buy acre of land at epe where u can buy and keep it till when u are ready to do anything u wish. also u can invest on students hostel. and very cheap. the airport is ongoing on lekki and people are running to epe to secure a land. from #500k per plot.

ifyalways:
@OP, 1 plot of land @ Greenvile estate, Badore @ 5M. Go for this if you want to build. Rent is 1M for 3 B.D.

1 plot at Harmony estate Badore @ 3M.
1 plot at Abijo @ 2.5M.

Go for the last two if you are into land flipping.
Direct briefs from my omonile friend. Don't waste your money on mainland abeg unless it's places like Ikeja GRA,Magodo, Apapa GRA or Ogudu GRA which are unfortunately sold out or super expensive.

Aunty ify, u just put the fear of God in me by mentioning omonile

Do they also operate in estates?

Is badore before or after thomas estate? Dat ba where I know rd reach o

there is 2 plots of land at eleko junction in lekki. its very close to main road. eleko junction where the lekki free zone is ongoing. #2.5m.

ifyalways:
@OP, 1 plot of land @ Greenvile estate, Badore @ 5M. Go for this if you want to build. Rent is 1M for 3 B.D.

1 plot at Harmony estate Badore @ 3M.
1 plot at Abijo @ 2.5M.

Go for the last two if you are into land flipping.
Direct briefs from my omonile friend. Don't waste your money on mainland abeg unless it's places like Ikeja GRA,Magodo, Apapa GRA or Ogudu GRA which are unfortunately sold out or super expensive.

Good one as ever! Greenville is cool. Infact, I'm working on something for a Nairalander there.

Bebe2 while any business in 9ja is not for the faint hearted you need to do your research and get things properly set up from the get go.

Why would you have a tenant in your home not paying for years if a tenant does not

Diya Fatimilehin and co are strictly real estate and the information I get is that they issue a yearly tenancy and 6 months in they issue notices as standard and 9 months in tenants wishing a renewal write and pay for the next year and those who don't pay have the bailiffs waiting at the end of the year certain.

The other problem tenant that I had got away for that long cos my focus was on finishing the project.

There are other ways of dealing with issues aside from the courts and when you get the right agent its less of an issue cos they have been there and done that.

Bebe2 while any business in 9ja is not for the faint hearted you need to do your research and get things properly set up from the get go.

Why would you have a tenant in your home not paying for years if a tenant does not pay at all by 3 months we set the ball rolling.

Diya Fatimilehin and co are strictly real estate and the information I get is that they issue a yearly tenancy and 6 months in they issue notices as standard and 9 months in tenants wishing a renewal write and pay for the next year and those who don't pay have the bailiffs waiting at the end of the year certain.

The other problem tenant that I had got away for that long cos my focus was on finishing the project.

There are other ways of dealing with issues aside from the courts and when you get the right agent its less of an issue cos they have been there and done that.

gabbytabby:
Bebe2 while any business in 9ja is not for the faint hearted you need to do your research and get things properly set up from the get go.

Why would you have a tenant in your home not paying for years if a tenant does not pay at all by 3 months we set the ball rolling.

Diya Fatimilehin and co are strictly real estate and the information I get is that they issue a yearly tenancy and 6 months in they issue notices as standard and 9 months in tenants wishing a renewal write and pay for the next year and those who don't pay have the bailiffs waiting at the end of the year certain.

The other problem tenant that I had got away for that long cos my focus was on finishing the project.

There are other ways of dealing with issues aside from the courts and when you get the right agent its less of an issue cos they have been there and done that.

dats reassuring , becos that issue with ur tenant really gave me nightmares.

cant deal with stuff like dat.

think land flipping will be it for me at the moment.

Come to ogombo and pick nice plot in good location with good title