Cutehector:
Nice.. It is not easy to achieve this feat in Nigeria

its easier in Nigeria than in the US

people dont understand that IN THE WESTERN WORLD, if you have a steady income for more that 18months, you can easily buy your own home (aka get a mortgage). you dont even have to put a downpayment on it.

ErnestNc:
Buying a House is not an Asset. Though it's a good achievement I must congratulate.

I'd rather live in a rented flat , stack and acquire more assets with the money I should use to acquire a house and other luxuries, just so that I can retire early . The houses, cars and luxuries can come later as soon as my assets start paying.

Why should I fund my lifestyle from a single Job, because it pays me well ? It's like a never ending rat race . Your employer wants you to take money only from him , but he takes money from multiple individuals, companies etc ...
Why take money from one , when I can take money from the society through the assets i've amassed and be wealthy?

trash. House prices 10 years ago are not same today. In the western world there are limited ways to get real money. Moreover she is a doctor, 20 years into her career she would have acquired more than 3 houses which can be rented

Borntosmoke:
The amount used to get this house will get a better house than this in lekki. Only those that have travel can understand.

same lekki with bad water, poor drainage, poor urban planning. Stop comparing oranges with mangoes.

ErnestNc:
Buying a House is not an Asset. Though it's a good achievement I must congratulate.

I'd rather live in a rented flat , stack and acquire more assets with the money I should use to acquire a house and other luxuries, just so that I can retire early . The houses, cars and luxuries can come later as soon as my assets start paying.

Why should I fund my lifestyle from a single Job, because it pays me well ? It's like a never ending rat race . Your employer wants you to take money only from him , but he takes money from multiple individuals, companies etc ...
Why take money from one , when I can take money from the society through the assets i've amassed and be wealthy?

You've read too many motivational books on finances. You'd wake up one day to understand that's not how life work.

ednut1:
trash. House prices 10 years ago are not same today. In the western world there are limited ways to get real money. Moreover she is a doctor, 20 years into her career she would have acquired more than 3 houses which can be rented

You remain poor because you don't ask questions. You attack what you don't understand and speak out of ignorance.

How can there be "Limited ways to get money? " In the western space , yet your African brothers troop their everyday.
Hell yes, I was right. You sound like a novice with zero knowledge on matters as touching business inkling and wealth creation.

She's a doctor , yes but she is she rich ? No , probably middle class, and all they do is buy liabilities than assets. You'd be shocked to know she got the house on a down payment , and she might have to keep paying for many years.

In the western world, income is taxed heavily . This means about 10-30% of her earning goes to the government. There comes mortgage debt , fuel, expenses and other miscellaneous and loans to pay for, from just one income.

This is why y'all are poor and think poor. You can't differentiate between an asset and a liability. You fund liabilities and expenses with earned income instead of passive or portfolio income . Then when you stop working, you can't pay bills anymore. Stvpid idea.

I'd only listen to you if you have results to prove that this the right way to be financially liberated.

ErnestNc:
Buying a House is not an Asset. Though it's a good achievement I must congratulate.

I'd rather live in a rented flat , stack and acquire more assets with the money I should use to acquire a house and other luxuries, just so that I can retire early . The houses, cars and luxuries can come later as soon as my assets start paying.

Why should I fund my lifestyle from a single Job, because it pays me well ? It's like a never ending rat race . Your employer wants you to take money only from him , but he takes money from multiple individuals, companies etc ...
Why take money from one , when I can take money from the society through the assets i've amassed and be wealthy?

How many have u acquired in Nigeria since.

So u have such sense but hunger dey deal with u front n back.

Nonsense sense

Hessem:



How many have u acquired in Nigeria since.

So u have such sense but hunger dey deal with u front n back.

Nonsense sense

I'm not your problem. You are the architect of your frustrations and impending demise, not the government, ur brothers and certainly not me. If you were humble enough to learn , I'd teach you but you seem like you'd be ungrateful ignoramus, with zero appreciation towards having the breath of life. You are privileged to share the same faceless forum with me.

ErnestNc:
Buying a House is not an Asset. Though it's a good achievement I must congratulate.

I'd rather live in a rented flat , stack and acquire more assets with the money I should use to acquire a house and other luxuries, just so that I can retire early . The houses, cars and luxuries can come later as soon as my assets start paying.

Why should I fund my lifestyle from a single Job, because it pays me well ? It's like a never ending rat race . Your employer wants you to take money only from him , but he takes money from multiple individuals, companies etc ...
Why take money from one , when I can take money from the society through the assets i've amassed and be wealthy?

Getting a house can save you rent wahala.
But once you own your house then you can save for investment knowing nobody go come knock your door Incase your investment fails...
But trust me I get your point...

1x2x3:



You've read too many motivational books on finances. You'd wake up one day to understand that's not how life work.

The same financial books I read have helped me . I only promote the knowledge I've experienced and fleshed. Do what works for you, and I'll preach mine. Y'all attack what you haven't proven or tested and you won't seek for guidance .

I refuse to follow the crowd and popular opinion.
If you did what the 1% did, you'd understand the logical angle from which I speak. But you choose to follow the ideology of 90 and the other 9% who couldn't push but argue with the proven methods because they lack the perspicacity to comprehend and implement.

davillian:

Getting a house can save you rent wahala.
But once you own your house then you can save for investment knowing nobody go come knock your door Incase your investment fails...
But trust me I get your point...

Good input. I agree , If my business/asset can build/buy me a house, why not? I'm already rich and wealthy . But as an employee, it's bad investment, which the lady in question is.

For people trying to build wealth, I'd not recommend going for a house first, because it is an expense incurred on ur earned income. The net income left will be little for acquiring assets, hence it becomes vulnerable to more liquidation.

The aim is reducing costs and maximizing my profits , til I'm able to earn grossly passive with little or no inputs .

ErnestNc:


You remain poor because you don't ask questions. You attack what you don't understand and speak out of ignorance.

How can there be "Limited ways to get money? " In the western space , yet your African brothers troop their everyday.
Hell yes, I was right. You sound like a novice with zero knowledge on matters as touching business inkling and wealth creation.

She's a doctor , yes but she is she rich ? No , probably middle class, and all they do is buy liabilities than assets. You'd be shocked to know she got the house on a down payment , and she might have to keep paying for many years.

In the western world, income is taxed heavily . This means about 10-30% of her earning goes to the government. There comes mortgage debt , fuel, expenses and other miscellaneous and loans to pay for, from just one income.

This is why y'all are poor and think poor. You can't differentiate between an asset and a liability. You fund liabilities and expenses with earned income instead of passive or portfolio income . Then when you stop working, you can't pay bills anymore. Stvpid idea.

I'd only listen to you if you have results to prove that this the right way to be financially liberated.

motivation speaker. Its clear you haven’t made money before in your life. That house is an asset, the equity on that house can be used to get house number two which can be rented out. Real estate is one of the sweetest ways to make money in the western world. Keep typing your inspire to aspire

https://www.nairaland.com/7551385/#120571270 I no talk am. Na even corper.

Congratulations

1x2x3:



You've read too many motivational books on finances. You'd wake up one day to understand that's not how life work.

https://www.nairaland.com/7551385/#120571270 2 months ago he was in NYSC camp. But is here forming financial expert lmao

Some women i know be like...."how can u buy house on credit and be paying with ur salary for years... dont u have boyfriend?"

ednut1:
motivation speaker. Its clear you haven’t made money before in your life. That house is an asset, the equity on that house can be used to get house number two which can be rented out. Real estate is one of the sweetest ways to make money in the western world. Keep typing your inspire to aspire

https://www.nairaland.com/7551385/#120571270 I no talk am. Na even corper.

I just got banned trying to reveal my identity with proofs , just for nothing .

What's wrong with being a corper? How does that affect my socio economic status?
It's a badge I wear with dignity serving my father's land.

Well I won't fail to Educate you. I made my first 6-7figs at 21, 1.2m precisely in 2020 during the pandemic as an Affiliate for digital markets after trying several failed investments...

I still make 6-7figs depending on how less busy and engaged I am with day job with just my smart phone as an affiliate making commissions per sales.
God bless the likes of Prince Chuka and Pascal who were my mentors.

In the same 2020 I learnt 2 digital skills added to my income skill portfolio. Between 2021 and 2022 I had taught over 200-380 persons how to navigate through the financial markets and instruments by understanding liquidity pools and how the big banks and big boys move the markets by taking money(liquidation) in fx ,indices and stocks..

Currently, I'm still an affiliate on various digital space, which means I work freely. I'd keep my day job anytime and I'd still pick up a good pay job. Cuz I know what I want. I follow my mentors. I'm not a fool .

I've attended several paid seminars to sharpen and broaden my skills, trained more and talked to many people than you can ever do in 3 life times.
I broke free from the shackles of ignorance. I'm a lover of the knowledge I implement.

I hate to disillusion you, but I can bet my left balls I've achieved more than you could ever have done in my mid 20's as a corper earning 33k and more .

advanceDNA:
Some women i know be like...."how can u buy house on credit and be paying with ur salary for years... dont u have boyfriend?"

What people like ednut1 don't understand.

We are talking of the western world here.
How can you buy a house by mortgage and pay back on earned income?

Instead, buy the house and rent it out , let the tenants pay for the mortgage til u own it being debt free.

ErnestNcee:


What people like ednut1 don't understand.

We are talking of the western world here.
How can you buy a house by mortgage and pay back on earned income?

Instead buy the house and rent it out , let the tenants pay for the mortgage til u own it being debt free.

Canada breeze don blow ednut1 for brain... baba no dey too reason like core naija again

ErnestNcee:


I just got banned trying to reveal my identity with proofs , just for nothing .

What's wrong with being a corper? How does that affect my socio economic status?
It's a badge I wear with dignity serving my father's land.

Well I won't fail to Educate you. I made my first 6-7figs at 21, 1.2m precisely in 2020 during the pandemic as an Affiliate for digital markets after trying several failed investments...

I still make 6-7figs depending on how less busy and engaged I am with day job with just my smart phone as an affiliate making commissions per sales.
God bless the likes of Prince Chuka and Pascal who were my mentors.

In the same 2020 I learnt 2 digital skills added to my income skill portfolio. Between 2021 and 2022 I had taught over 200-380 persons how to navigate through the financial markets and instruments by understanding liquidity pools and how the big banks and big boys move the markets by taking money(liquidation) in fx ,indices and stocks..

Currently, I'm still an affiliate on various digital space, which means I work freely. I'd keep my day job anytime and I'd still pick up a good pay job. Cuz I know what I want. I follow my mentors. I'm not a fool .

I've attended several paid seminars to sharpen and broaden my skills, trained more and talked to many people than you can ever do in 3 life times.
I broke free from the shackles of ignorance. I'm a lover of the knowledge I implement.

I hate to disillusion you, but I can bet my left balls I've achieved more than you could ever have done in my mid 20's as a corper earning 33k and more .

motivational speaker aspire to perspire. We know ya type. https://www.nairaland.com/7667043/how-go-broke-rich-hack By their post we know who they are. You make so much money indeed.

advanceDNA:


Canada breeze don blow ednut1 for brain... baba no dey too reason like core naija again

the topic na about yankee which is similar to where i dey lol. He dey talk what he knows nothing about. Because he don read mortgage on google he think say he sabi how things dey work here. Rent and mortgage are almost same , make the babe dey pay rent when her mortgage is going towards her stake/ equity in the house. Too many aspire to perspire here lol

ednut1:
motivational speaker aspire to perspire. We know ya type. https://www.nairaland.com/7667043/how-go-broke-rich-hack By their post we know who they are. You make so much money indeed.

Lol. If you want to come at me , pls do with facts. Either you learn how take money or u shut up and let others learn.

ednut1:
the topic na about yankee which is similar to where i dey lol. He dey talk what he knows nothing about. Because he don read mortgage on google he think say he sabi how things dey work here. Rent and mortgage are almost same , make the babe dey pay rent when her mortgage is going towards her stake/ equity in the house. Too many aspire to perspire here lol

You're stack illiterate . You said rent and mortgage are almost same 😂😂.
Jesus Christ. You need to go and get ur arse schooled. You reek of ignorance and you're a collosal disgrace to this public space and to the world of finance and economics.

I don't just read books , I implement. I buy and download books . Books are almost free. The difference between you and I is , I read , digest , and apply and you don't. That is why in your first few lines you spew nonsense and junks. Total loser.

ednut1:
the topic na about yankee which is similar to where i dey lol. He dey talk what he knows nothing about. Because he don read mortgage on google he think say he sabi how things dey work here. Rent and mortgage are almost same , make the babe dey pay rent when her mortgage is going towards her stake/ equity in the house. Too many aspire to perspire here lol

If she bought the house on mortgage, she would be living in it whilst paying. But if she rented it out, her tenants would pay the mortgage for life and she could put extra income in her pockets every month, therefore converting her liability into an asset.

She could equally pay rent with the extra income earned . If she did this 10X , she would increase her passive income and become stable in 5-10years by converting debts to assets , til she owns all the houses. You know nothing..

I bet you are in Yankee washing oyinbo yansh or doing house boy, that's why u say it's hard to make money there. When your brain is programmed to think like a retard under the influence of African voodoo, how can u prosper?

I have zero respect for sick runaway arses like u who couldn't build at home, but try to be aligators overseas whereas u couldn't grown beyond a lizard back at home. Kpekere disguising as plantain chips . Such a simple man.

ErnestNcee:


You're stack illiterate . You said rent and mortgage are almost same 😂😂.
Jesus Christ. You need to go and get ur arse schooled. You reek of ignorance and you're a collosal disgrace to this public space and to the world of finance and economics.

I don't just read books , I implement. I buy and download books . Books are almost free. The difference between you and I is , I read , digest , and apply and you don't. That is why in your first few lines you spew nonsense and junks. Total loser.

rent and mortgage are almost same in monthly repayments. In some cases rent is lesser than mortgage amount. This is what happens when you have no practical experience of what you are saying lol

ErnestNcee:



If she bought the house on mortgage, she would be living in it whilst paying. But if she rented it out, her tenants would pay the mortgage for life and she could put extra income in her pockets every month, therefore converting her liability into an asset.

She could equally pay rent with the extra income earned . If she did this 10X , she would increase her passive income and become stable in 5-10years by converting debts to assets , til she owns all the houses. You know nothing..

I bet you are in Yankee washing oyinbo yansh or doing house boy, that's why u say it's hard to make money there. When your brain is programmed to think like a retard under the influence of African voodoo, how can u prosper?

I have zero respect for sick runaway arses like u who couldn't build at home, but try to be aligators overseas whereas u couldn't grown beyond a lizard back at home. Kpekere disguising as plantain chips . Such a simple man.

I became a chartered accountant at 23, i have worked with investment and finance firms. Places you can never enter. Keep making unrealistic assumptions you read online. She should rent the house out to tenants. And go pay another landlord same rent someone else Or she will be living in a tree abi. Rent abroad is basically you paying off someone else mortgage for them , but you can get yours, use the equity to buy another house or as collateral for loan. You also gain when the house value appreciates. Keep reading books online o

ednut1:
I became a chartered accountant at 23, i have worked with stanbic asset management in Nigeria. I currently work in a bank in Canada. Used to be an auditor in Nigeria and Canada too. This is literally my field lol. Keep making unrealistic assumptions you read online. She should rent the house out to tenants. And go pay another landlord same rent someone else You dumb bro

Yea, punk arse slave mentality. That's what I thought. No business inkling or technicality whatsoever . You are fake brother. You have fake knowledge . I bet your employer doesn't know you're this slow as a self proclaimed Chattered accountant .

A good Entrepreneur knows he can't do without expenses and liabilities, so he cancels his expenses using asset. In this case, renting out would cancel the mortgage expense on her, while she adds more income to her pocket to get another smaller flat for rent . she will own the house after 20-25yrs .

If she got good value on the house, she could sell , cancel the mortgage and get another one mortgage free .

If u claimed to have written ICAN , you should know a few things of the aforementioned, but I know you don't cuz you're slow.

At 22 I was done with school. Already done several 7figures , it wasn't luck . I could have left the country but I didn't, but I built my brand using people to sell and market even substandards for me , While you played the harlot seeking for an employer to rule over ur exploitable dumbass.

I won't respond to u anymore, as you've finally brought me down to ur level temporarily.

ednut1:
rent and mortgage are almost same in monthly repayments. In some cases rent is lesser than mortgage amount. This is what happens when you have no practical experience of what you are saying lol

If she bought a house for 500k on a mortgage of 30yrs at 5% interest .. she would be paying 525k in total

It would take her 360 months to pay up at $1460 a month .

If she rented out the estate unit for 2k a month, she would make extra $500 and afford a smaller unit til she gets a good deal. It's called financial literacy.

I'm tired of your dumbass. If you were a pro, you would recognize business ideas and take advantage of debts. But you're not sadly, you're programmed to be like this , hence I cannot help you , neither will I continue to rub myself in the mud with you .

ErnestNcee:



If she bought a house for 500k on a mortgage of 30yrs at 5% interest .. she would be paying 525k in total

It would take her 360 months to pay up at $1460 a month .

If she rented out the estate unit for 2k a month, she would make extra $500 and afford a smaller unit til she gets a good deal. It's called financial literacy.

I'm tired of your dumbass. If you were a pro, you would recognize business ideas and take advantage of debts. But you're not sadly, you're programmed to be like this , hence I cannot help you , neither will I continue to rub myself in the mud with you .

this is why i say you are inspire to aspire. Mortgage Interest at 5% on a 500k house is not 525k. Mortgage rates used to be 1-2% before recession and impact of Russia war. In Canada interest rate is currently 6-7%. Mortgages are not calculated with simple interest. You can go online to verify as there are many mortgage calculator online of banks abroad. Like i said before all you know is from reading books no practical experience .

Below is an example using 500k, 5%rate and 5% downpayment

Examples 2 using interest rates obtainable pre covid/ recession

https://www.investopedia.com/mortgage/mortgage-rates/how-it-works/ Another link , however the value of the house in 30 years would have doubled and the house can be sold before 30 years and you take the profits from capital appreciation subject to taxes

ednut1:
this is why i say you are inspire to aspire. Mortgage Interest at 5% on a 500k house is not 525k. Mortgage rates used to be 1-2% before recession and impact of Russia war. In Canada interest rate is currently 6-7%. Mortgages are not calculated with simple interest. You can go online to verify as there are many mortgage calculator online of banks abroad. Like i said before all you know is from reading books no practical experience .

Below is an example using 500k, 5%rate and 5% downpayment

Examples 2 using interest rates obtainable pre covid/ recession

https://www.investopedia.com/mortgage/mortgage-rates/how-it-works/ Another link , however the value of the house in 30 years would have doubled and the house can be sold before 30 years and you take the profits from capital appreciation subject to taxes

You're mentally oppressed. What I used up there is an example explaining financial literacy. Either way the numbers turn out to play out, someone who's financially literate always create ways to counter the debts.

My point is not entirely on mortgage but financial literacy . You're trying to score a cheap point. If the mortgage payment per month is higher than expected, I'd also increase the rents tenants would pay up.

You claim to study accounting yet you don't know how to appropriately place liabilities and assets in the columns where they belong. You call a house acquired on mortgage as an asset . You're dumb as fvck.

Little wonder you reason like the 90% that purchase on impulse and emotions only to back up with logic. You're enslaved by greed, fear of uncertainty and desire , hence you ran off to a land where you know nothing of their constitution so you can become a slave to their government.

Maybe you know how to calculate mortgage interest and I don't . It doesn't state that you're financially literate , you're just doing what you were programmed to do. If I wanted to do the maths on mortgage I'd enslave hire you to do that . But when it comes to creating wealth and cancelling debts, you're retarded, you should take the back seat.