Gerrard59:


Please explain why purchasing a house is poor financial intelligence?

Gerrard59:


Please explain why purchasing a house is poor financial intelligence?

Badgers14:
She need to tell us who she is fûcking.. Models dont make that much money and she is flaunting two houses.

Acidosis:


She's still too young to invest her resources on two luxury apartments. First, no way you would sleep in two houses at the same time. Second, rentals is one of the most senseless investment decisions to make with a luxury building. Without mincing words, it would take at least 35 years to recoup whatever she spent purchasing that apartment -- a very poor decision for a young and struggling hustler.

The risk of losing her property to government acquisition (demolition) also exists. That's aside the risk of deterioration, difficulty in getting a new buyer or tenant, risk of renting her property to radical defaulters, amongst others.

In sum, any investment or business that would take 35 years to get my ROI is senseless. 50m property for 2.5-4m annual rent? God forbid! Ordinary Treasury Bills will turn in 8m yearly without stress, risk, or tenant or agent wahala.

geesilver:

this world is not fair o...... am not hating on her but we that have degree self still dey struggle with salary less than 100k. for how long we go make saving before we build this kind house ? wife go chop, pikin go chop, mama go chop, papa go chop, family go chop, nothing remain again...............
congrats girl, enjoy the reward of ur labour

Ugosample:


the Nigerian system is skewed negatively

But then

being a graduate does not mean poo

It's what you have to offer that people are willing to pay for

idolizing degrees and the entitlement mentality that follows it is one of the biggest mistakes made against the Nigerian youth

Natoski5:
23 year old second house!?? Work of the Almighty konji

geesilver:

when the environment is not there for u to showcase what u can offer nko. even when u try on ur own nobody believes in ur dream. they only want to celebrate ur success.

jaxxy:
I don’t know why people show stuffs like this on social media bt she’s done well for herself I only hope it wasn’t at the expense of values and principles.

paix:
How would that get you a house if she mentions the person's name?

Acidosis:


She's still too young to invest her resources on two luxury apartments. First, no way you would sleep in two houses at the same time. Second, rentals is one of the most senseless investment decisions to make with a luxury building. Without mincing words, it would take at least 35 years to recoup whatever she spent purchasing that apartment -- a very poor decision for a young and struggling hustler.

The risk of losing her property to government acquisition (demolition) also exists. That's aside the risk of deterioration, difficulty in getting a new buyer or tenant, risk of renting her property to radical defaulters, amongst others.

In sum, any investment or business that would take 35 years to get my ROI is senseless. 50m property for 2.5-4m annual rent? God forbid! Ordinary Treasury Bills will turn in 8m yearly without stress, risk, or tenant/agent wahala (while retaining your capital 100% with no issues).

Ugosample:


It's the same thing we are saying

Being a young man in Nigeria in 2019 is one of the worst things to be in 2019 world

I feel so sorry for young men out there

Bizibi:
but real estate is a lucrative business in advanced economies, is it the government policies that is helping developers to make easy profits or financial institutions
Because investors make hell lot of money from real estate biz in the u.s.a.

user4321:

He is quite right, except you have other active investments, buying a massive residential house isn't financially sensible.
1. You get to pay property tax or Land use charge like we have here
2. Repairs, upgrade,etc
3. No rent to offset the above cost
4. Loss of real value over time due to inflation, and deferred income that could have been gotten from buying an apartment complex, or even buying into mutual funds.

Badgers14:


Maybe the person will buy one for me too

It is important for people to know the reality.. some could be thinking , oh she made it through modeling which will be a false narrative.. models dont make that much money.. sorry to say, "some" are high end prostitutes.

fulfilled2016:


That's the USA where there is more demand, backed up with mortgage facilities for the public.

Where is such over here?

Surrey2Bimshire:


If she’s earning 3000-3500 aed (300,000-350,000 Naira ) or more monthly.she’ll mostly likely get free accommodation plus feeding. Multiply that into 24 or 48 months ..there is every possibility she has other side earnings or she bought the property via mortgage.

Moving on swiftly