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Re: Is Commercial Property Really An Investment by olumide4christ: 2:28pm On Mar 02, 2016 |
Chinom: I'm sorry Bros, but you are very wrong based on the bolded statement above. Please do more research. I bought a plot of land in Abuja in one of the estates around Trademoore estate, Lugbe, off the Airport road for N3 million + N2 million for infrastructures, making a total of N5 Million. Rent for 2 bedroom flat in that area goes btw N800,000 -N900,000 while 3-bedroom flat goes for N1.2 million. You can get plots of land for N5-7 million in Ajah and environs and rent for 2 bedroom flat in that area goes for N800,000 and above. You can enquire from @3strike, a popular contributor here in properties section, look for his thread, he is rounding up his property in Ogombo, Ajah. I don't think those flats will be rented out for anything less than N800,000. Even in my area here in Lagos, lands/old property are available for N9-10 million and rent for standard new 2-bedroom flat goes from N600,000 - N800,000 while 3-bedroom flat goes from N900,000 -N1.2 million. 1 Like |
Re: Is Commercial Property Really An Investment by erico2k2(m): 2:45pm On Mar 02, 2016 |
hotmas911:Nop of you check we both started with the term Developers. These are people who are in the biz of building and selling whole sale ie 5 to 10 houses in a go. |
Re: Is Commercial Property Really An Investment by olumide4christ: 2:45pm On Mar 02, 2016 |
chigoizie7: [b]Bros I won't argue much with you, I don't think you are a professional in construction, if you were, perhaps I would have said more than I would now. But let me say that it is one thing to finish building a house, but it is surely another thing for it to remain in good condition over 5-10 years. Let us see that house you handled for N3.5 million after 5 years and see whether it still remains in good condition; lets see if cracks dont appear, tiles dont begin to fall off, the wall doesnt get soaked after rain falls, etc. You can only build very cheap houses when you cut corners and the problems will begin to show after a while. I spent N2.1 million for foundation alone for my bungalow and boys quarters; it was a bit more expensive becos the land was slopy, but assuming the land was flat, I would still have spent at least N1.6 million for a building of about 300-350m2 footprint. I have seen people lay blinding of 2-3 inches thick in foundation and then start to lay 9 inches block on it which will carry walls, roof, and the whole weight of the building, all to cut corners and save cost. NOTE that the standard footing for a foundation is 9 inches thick if you're using 9 inches blocks or 6 inches thick if you're using 6 inches blocks. When the building begins to settle and wall cracks appear, they start binding the devil & speaking grammar. That is just one example out of numerous examples. There's so much to talk about this issue, but I'll stop here. Like they say, soup wey sweet, na money kill am. You can visit and follow my thread to understand more about construction costs - https://www.nairaland.com/2836058/talk-quantity-surveyors-construction-costs This is what I do for a living.[/b] |
Re: Is Commercial Property Really An Investment by hotmas911(m): 2:45pm On Mar 02, 2016 |
tunde2222:You seem not to understand something here. My business is real estate. You can be involved with real estate in many ways. I chose to do it through farming and plantation. The world richest people in real estate are not into buying and selling of land. They do it through hotels, ranches, farm plantation etc 1 Like |
Re: Is Commercial Property Really An Investment by olumide4christ: 2:48pm On Mar 02, 2016 |
erico2k2: Oga erico2k2, please help me explain to them ooo! How is your project going?? Hope its going well. |
Re: Is Commercial Property Really An Investment by erico2k2(m): 4:58pm On Mar 02, 2016 |
hotmas911:Farming is not real estate hence the term real was added.U also do not need to own land to be a real estate developer. |
Re: Is Commercial Property Really An Investment by GoodGovernance: 4:59pm On Mar 02, 2016 |
The best form of investment in real/commercial prperty is buying/building and selling,not Those who make a fortune in property business, are those that sell, not those that rent! E.g.buy a land today for N1m and sell tomorrow @ 2M,representing 100% return !!!! |
Re: Is Commercial Property Really An Investment by erico2k2(m): 5:00pm On Mar 02, 2016 |
olumide4christ:Thanks my brother.it's going ok though I have returned to the UK and will continue when I get bck. I want everything to be as I planned. So we left it at that window level but gathering materials. |
Re: Is Commercial Property Really An Investment by hotmas911(m): 5:34pm On Mar 02, 2016 |
erico2k2:now i see. Since having a farm is not real estate then having an hotel is as well not real estate. SMHww |
Re: Is Commercial Property Really An Investment by hotmas911(m): 5:34pm On Mar 02, 2016 |
erico2k2:now i see. Since having a farm is not real estate then having an hotel is as well not real estate. SMH Donald trump is a real estate billionaire but does it through hotels casino and golf courses. It is obvious you guys don't know much in terms of real estate. You think buying and selling is investment?? |
Re: Is Commercial Property Really An Investment by erico2k2(m): 6:20pm On Mar 02, 2016 |
hotmas911:You said farming. Was real estate. Check the definition of real estate. It's any land with building along with its Natural resources. Google is a good place to find out. Here.https://en.m.wikipedia.org/wiki/Real_estate I'm not just talking for argument sake |
Re: Is Commercial Property Really An Investment by erico2k2(m): 6:23pm On Mar 02, 2016 |
hotmas911:When I said you do not need to own a land I meant it. Go to the west they have high rise building. You just buy a flat and they are not free holds. In the real estate biz there are people who specialise in buying up the lease of spaces withing buildings.ie the space a flat occupies within a building. |
Re: Is Commercial Property Really An Investment by hotmas911(m): 8:06pm On Mar 02, 2016 |
reflx: Real estate itself is a big world. Before a population care about housing, they care about feeding especially in low income African countries. I gave an instance of Donald Trump who invested in golf courses as an example of real estate relevant to their own environment. Another option of real estate in our own environment is agriculture since no matter what happens the land will appreciate and you will still be earning income on it. This thread is focusing on individuals with interest in investment not companies whose vision is to buy n sell property. 1 Like |
Re: Is Commercial Property Really An Investment by Nobody: 8:22pm On Mar 02, 2016 |
olumide4christ: Baba I go bill you o ........ |
Re: Is Commercial Property Really An Investment by Nobody: 8:26pm On Mar 02, 2016 |
olumide4christ: @olumide4christ There is no place in lagos where u will buy land 4M and a 3 bedroom rent goes in same Area for 750k..It will be below U didnt even mention Omo-onile fee and processing of papers in lagos lands that could take years even after payment. Fencing a full plot +gate will already cost u another 1M...In my AREA Omo onile charge in Millions...they give u charge before you start...dey dont take step by step..omo onile r riding range rovers ..Bros it not a joke matter..at list u need 12yrs minimum to get your 100% return on real estate. 2 Likes |
Re: Is Commercial Property Really An Investment by hotmas911(m): 9:58pm On Mar 02, 2016 |
Yeecar:I agree with you sir/ma After acquiring a land, instead of erecting rental properties which ofcourse will yield some returns, same sum of money can be invested in some special agriculture. While the land itself appreciates, you still make some instant profit. There are crops if well handled that can take care generations to come.
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Re: Is Commercial Property Really An Investment by hotmas911(m): 10:06pm On Mar 02, 2016 |
Tritri: I love this thread for the controversies it created and we must appreciate Yak for this. There are lots to share, as a matter of fact I have a detailed analysis of a type of farming that yield far better than rental property with lesser stress and risk and I don't mind sharing. Mail me if you wish to read it |
Re: Is Commercial Property Really An Investment by hotmas911(m): 10:22pm On Mar 02, 2016 |
erico2k2: We don't even have reasons to argue since we are all here to learn and share knowledge. If definition of terms is the problem, lets leave it aside and focus on getting returns on investment. Our interest is in acquisition of property for maximum returns. I have a certified report I can share with you to read just to back up my claims that there are options that yield more than rental property here in Nigeria. Since we are in Nigeria, I feel it is better to discuss solutions feasible for middle class Nigerians. Mail me, I love to share the document with you. 1 Like |
Re: Is Commercial Property Really An Investment by erico2k2(m): 10:51pm On Mar 02, 2016 |
hotmas911:Hmm Ok well Im not i n Nigeria.Im sure there are loads of other idea that will yield maximum ROI,but then again everyman got to do what they feel comfy with. |
Re: Is Commercial Property Really An Investment by whatalife: 12:21am On Mar 03, 2016 |
I THINK student hostel accommodation is the way to go, i did this, they are long completed, and occupied by students. total rent from 17 rooms is about @ #1000000 total cost of project is abut#6.9M https://www.nairaland.com/1026810/building-student-hostel-vs-regular 1 Like |
Re: Is Commercial Property Really An Investment by greatiyk4u(m): 6:14am On Mar 03, 2016 |
olumide4christ: Quite interesting to get this info from u........I was actually using south-eastern states to judge cos am a property. Developer in that location and the situation is far far different from what u just informed me here....it is well and tanx |
Re: Is Commercial Property Really An Investment by Nobody: 6:20am On Mar 03, 2016 |
People spend millions on business that didn't pick up. At least in real estate you will surely gain, not forgetting the value of the house keeps appreciating as years goes by 2 Likes |
Re: Is Commercial Property Really An Investment by erico2k2(m): 8:41am On Mar 03, 2016 |
whatalife:You are right.my hostel is rented @N120k per year. Good income |
Re: Is Commercial Property Really An Investment by yak(m): 1:48pm On Mar 03, 2016 |
hotmas911:I think hotels dnt fall into real estate but hospitality |
Re: Is Commercial Property Really An Investment by erico2k2(m): 2:12pm On Mar 03, 2016 |
yak:Hotel is real estate. The are permanent structures within the land. But the service it provides is Hospitality. Same as office and shops have thier own. |
Re: Is Commercial Property Really An Investment by Nobody: 3:21pm On Mar 03, 2016 |
yak: Really!....Who is this Yak and where is he/she from? Mars Perhaps? |
Re: Is Commercial Property Really An Investment by iamord(m): 7:50am On Mar 04, 2016 |
Eneze1:are u making reference to processing? |
Re: Is Commercial Property Really An Investment by obisun(m): 2:11pm On Mar 11, 2016 |
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Re: Is Commercial Property Really An Investment by obisun(m): 2:11pm On Mar 11, 2016 |
ayodele234: I spent almost 15mill to setup a business two years ago, what can I show for it now. Land, real estate and agribusiness is the way to go people. I'll soon be hooking up with @hotmas911. My two kobo. 1 Like |
Re: Is Commercial Property Really An Investment by yak(m): 6:12pm On Mar 11, 2016 |
av really learnt one or two from u guys. keep the ideas flowing |
Re: Is Commercial Property Really An Investment by Nobody: 9:28pm On Mar 11, 2016 |
obisun: I spent almost 15mill to setup a business two years ago, what can I show for it now. Land, real estate and agribusiness is the way to go people. I'll soon be hooking up with @hotmas911. My two kobo. Can you Elaborate more on this business as others might learn from it . You might find someone who's into same biz and would advice you better ! 1 Like |
Re: Is Commercial Property Really An Investment by yak(m): 9:18am On Mar 29, 2016 |
the people advocating for plantation av failed to aggregate the cost of maintaining the staffers in the farm especially for some of us who still av our regular jobs and the disadvantages of leaving some of these things in the hands of ppl. residential building on the other hand dont need any staff 1 Like |
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