Gerrard59:


But you have not been open regarding how one can amass enough funds within a year to purchase a property in the UK with cash. That is where the problem is.

Thank you. You're one of the persons that understands me. However, I can't open up on them even though I gave some guy I quoted above some ball points finger.

I'm never going there to work and get paid weekly, I'm innovative, and my innovations will take me there.

shaybebaby:


Then I wish you all that your heart desires for you and your family.

No different to what I wish for myself. Its how we approach it that differs. All that matters is that we achieve what we seek. Shalom.

Amen and thank you very much. Wish you Godspeed in your endeavors

franchasofficia:
Amen and thank you very much. Wish you Godspeed in your endeavors

Thank you😊

IbeOkehie:




I have over a CENTURY of family experience to draw on when it comes to the matter of Nigeria. I used to be diffident about these issues, not any more. Nigeria is a gonner, it's not going to break up and it's no going to get better. Like I continually state here, I've been in the USA over 30 years, moved back to Nigeria and back to USA. Wetin again? I know what is what.

By the way, you that are so much into IGBO TRADITION, are you a Christian OR Omenala adherent? That's a crucial query for anyone who starts banging the drum of tradition and custom.

Speaking of uncles, my great uncle (brother to my grandfather) Chukwunonye Maduike lived in London UK since 1955 or something like that, long before the Civil War. He died 5 years ago. He only visited Nigeria ONCE after leaving. We got to visit him a few times the little I gleaned from him was that Nigeria is a bad place, I got some older folks to educate me on family history and such and I think I know why he made the choices he did. He's buried in London, those who have a problem with that flouting of Igbo tradition can go knack their head on a brick wall, who cares.

By the way, one of Nnamdi Azikiwe's grand or great grand children lives here. One day I almost did what I usually do when I meet famous names from Nigeria, I usually go up to them and badger them till they tell me some things about questions I have about the country, what they heard from their parents, grand parents and high class circles, but I just jejely left them alone. They're with me here in the USA, what else do I need to know?

So I know better than you. I'm sure of that. You can have Nigeria or Igboland or whatever else. It means nothing in the modern world. Here's a quote from Things Fall Apart that can give you a glimpse of of a Big Truth:

In the book which he planned to write he would stress that point. As he walked back to the court he thought about that book. Every day
brought him some new material. The story of this man who had killed a messenger and hanged himself would make interesting
reading. One could almost write a whole chapter on it. Perhaps not a whole chapter but a reasonable paragraph, at any rate. There was so much else to include, and one must be firm in cutting out details. He had already chosen the title of the book, after much thought: The Paciflcation of the Primitive Tribes of the Lower Niger

Just in case you still don't understand - the little bird nza dancing on top of a termite mound thinks it's on top of a mountain.

Good Luck to Nigerians.

Kai, dike anaah

Kai Kai, shakes his head in total disbelief

Nwannem efue na mba


Nwaeze adighi efu na mba, abum nwaeze, I can never forget my ancestral home, mbanu, aru

franchasofficia:
Kai, dike anaah

Kai Kai, shakes his head in total disbelief

Nwannem efue na mba


Nwaeze adighi efu na mba, abum nwaeze, I can never forget my ancestral home, mbanu, aru

Your ancestral home is occupied Nigerian territory, under the jackboot of the Nigerian Army. Sorry but that is the evolving truth of Nigeria with the spreading Islamist ascendancy in that country.

So are you a Christian or Omenala ? Dike anaaaagh abi? Abum dike, I have enough courage and spiritual fortitude to go my own way in life....but I'm not dead yet, I'm still alive and having a discussion with you. Maybe you think you're talking to a ghost?

Good Luck to Nigerians.

THAT DUDE IS LOST..............OFUGOOOOO

franchasofficia:
Kai, dike anaah

Kai Kai, shakes his head in total disbelief

Nwannem efue na mba


Nwaeze adighi efu na mba, abum nwaeze, I can never forget my ancestral home, mbanu, aru

IbeOkehie:


Your ancestral home is occupied Nigerian territory, under the jackboot of the Nigerian Army. Sorry but that is the evolving truth of Nigeria with the spreading Islamist ascendancy in that country.

So are you a Christian or Omenala ? Dike anaaaagh abi? Abum dike, I have enough courage and spiritual fortitude to go my own way in life....but I'm not dead yet, I'm still alive and having a discussion with you. Maybe you think you're talking to a ghost?

Good Luck to Nigerians.

Your buddy Sukkot is offline for over 3weeks, news from the grapevine is that he is on Honey Moon, he just got married in a private wedding in Lagos

IbeOkehie:


Your ancestral home is occupied Nigerian territory, under the jackboot of the Nigerian Army. Sorry but that is the evolving truth of Nigeria with the spreading Islamist ascendancy in that country.

So are you a Christian or Omenala ? Dike anaaaagh abi? Abum dike, I have enough courage and spiritual fortitude to go my own way in life....but I'm not dead yet, I'm still alive and having a discussion with you. Maybe you think you're talking to a ghost?

Good Luck to Nigerians.

kai nwannem efugo oh, this one pass my power

christopher123:
THAT DUDE IS LOST..............OFUGOOOOO

ofukwara for real oh, Igbo e lose go ofu dimkpa, Ndi Igbo ndo nu oh

chyzoo4u:


I don't know about that, I just shared someone's story then emphasized that I can make enough money to buy a house in a year once I step into UK.

prophetfire:
. You know nothing about how things work in UK. You are just fantasizing.

Leave that oga alone.

You always know people that know nothing. Always coming up with “what if” scenarios up and down.

Hin know the way and he hasn’t gone to uk become a millionaire within two years lool

I am not even sure he has ever stepped foot in UK before

chyzoo4u:

I'm not your regular guy that live to work, pay bills, eat, and die... We're here to disrupt the norms and effect changes

Lool oga you are just a regular guy, there are a ten million of you in wild. That is the hard truth, which you won’t swallow now but las las you go swallow am

It is not to insult you. This is just life in 2024.

By the way the remote job aspect, hit my DM come show my way. I no proud, I am open to possibility of earning FX. I suppose fit rough am with my regular day job

chyzoo4u:


I don't know about that, I just shared someone's story then emphasized that I can make enough money to buy a house in a year once I step into UK.

Who gives mortgage to someone that have resident less than 3yrs...stop posting non existing stories.

jara:


If you do not cut your grass or keep the house up, your Black neighbors will visit you.

Lol. Is it why you people do that? My sister had some warnings about changing her door cos according the neighbours it was looking too “old” 😆

ffo:

Which one do you have or own?
What do you know about mortgage?
Do you own a house in your name?

Fake life on point

shaybebaby:

A mortgage does not appeal to me in Nigeria because there is no reputable database that I can use to assess the market price of properties by different parameters, location, property size, price history etc.

Never mind omo onile issues and all that even after purchase. For that reason, why would I want to secure a loan to acquire an asset that may be problematic I.e high risk? Should issues arise, or I was scammed, the bank does not care. I must pay up somehow.

So if I'm going to be on the hook for a sizeable amount of money, I best make sure the underlying asset is sound and the UK provides that.

There is a reason why rich ARABs, Chinese and Russian oligarchs buy properties ( even when they remain largely empty most times) in London and not Banana Island or Lekki. I'll let you figure out why that is.

See truckload of excuses. Database, omo onile are just excuses.
It seems you're unaware that Chinese, Arabs etc all own properties in VI, Lekki, Banana Island etc.
The main reason for their aversion to real estate in Nigeria is our weak and volatile currency not those excuses you're giving

Kukutenla:

See truckload of excuses. Database, omo onile are just excuses.
It seems you're unaware that Chinese, Arabs etc all own properties in VI, Lekki, Banana Island etc.
The main reason for their aversion to real estate in Nigeria is our weak and volatile currency not those excuses you're giving

Your ignorance is not my problem.

shaybebaby:

Your ignorance is not my problem.

Please tell them. Facts speak for themselves. No need to look far in the age of internet. Here's one from Baltimore Maryland, one of the UNDESIRABLE cities in the USA. I chose this house because I know a Nigerian couple that bought on the same street back in 1986 for $90K.

https://www.zillow.com/homedetails/1127-Cowpens-Ave-Baltimore-MD-21286/36411353_zpid/

This house was bought for $79K in 1979. Today it's priced over $500K. The records as shown make it likely that it's owned by the same person/family that originally bought it in 1979 because it hasn't been bought or sold since then. It's very likely the mortgage is paid off. Ditto for the Nigerian family, they've lived there since I came to this country. The man is a high school teacher, wife is a nurse.

So what exactly is the problem with mortgage biko nu? Gain of $400K = ₦560 million at current exchange rate. As in, half a billion naira....this man and wife can sell their house and get half billion naira cash. And the kids are all grown, one is nurse, one engineer at Microsoft. When the parents do die, these kids will inherit this profit. Imagine how comfortable their grand children will be. Would this have been possible in Nigeria?

Another friend of mine, Asian Indian, all of his siblings are professionals. They lived together in their parents house for 7 years, including their spouses. Saving like crazy. In 2010 when my friend moved out he was able to buy a house in Washington DC for CASH. That house has gone up over $300K in value.

This is the power of cooperative inter-generational wealth in the USA. This is in no way rich by our standards here, these are middle class people because government tax data shows 99% of Americans earn less than $400K per year.

Anyway to each their own. Anyone who wants to experience, observe or interact with poverty should stay in Nigeria. Nigeria is the Poverty Capital of the World.

Good Luck to Nigerians.

abbiboy:

Who gives mortgage to someone that have resident less than 3yrs...stop posting non existing stories.

You might as well go to that Facebook link to doubt them on the original post.

Harddiskng:


By the way the remote job aspect, hit my DM come show my way. I no proud, I am open to possibility of earning FX. I suppose fit rough am with my regular day job

So, shame no catch you to collect update from someone who knows nothing?

Anyways, I've given you much attention, enjoy it as your trophy.

IbeOkehie:


Please tell them. Facts speak for themselves. No need to look far in the age of internet. Here's one from Baltimore Maryland, one of the UNDESIRABLE cities in the USA. I chose this house because I know a Nigerian couple that bought on the same street back in 1986 for $90K.

https://www.zillow.com/homedetails/1127-Cowpens-Ave-Baltimore-MD-21286/36411353_zpid/

This house was bought for $79K in 1979. Today it's priced over $500K. The records as shown make it likely that it's owned by the same person/family that originally bought it in 1979 because it hasn't been bought or sold since then. It's very likely the mortgage is paid off. Ditto for the Nigerian family, they've lived there since I came to this country. The man is a high school teacher, wife is a nurse.

So what exactly is the problem with mortgage biko nu? Gain of $400K = ₦560 million at current exchange rate. As in, half a billion naira....this man and wife can sell their house and get half billion naira cash. And the kids are all grown, one is nurse, one engineer at Microsoft. When the parents do die, these kids will inherit this profit. Imagine how comfortable their grand children will be. Would this have been possible in Nigeria?

Another friend of mine, Asian Indian, all of his siblings are professionals. They lived together in their parents house for 7 years, including their spouses. Saving like crazy. In 2010 when my friend moved out he was able to buy a house in Washington DC for CASH.

This is the power of cooperative inter-generational wealth in the USA. This is in no way rich by our standards here, these are middle class people because government tax data shows 99% of Americans earn less than $400K per year.

Anyway to each their own. Anyone who wants to experience, observe or interact with poverty should stay in Nigeria. Nigeria is the Poverty Capital of the World.

Good Luck to Nigerians.

That's a lot of house for that money😲

And it's not that the mortgage from back in 1986 is probably paid off..it IS paid off.

Which reminds me, inflation also erodes the debt. That is why higher interest rates is one of the monetary policy tools employed by Central banks.

So even if they had sat on their hands for the past 38 years and paid interest only, their debt remains unchanged. Now tell me what that 90k can buy today? Probably a garage😀

chyzoo4u:


So, shame no catch you to collect update from someone who knows nothing?

Anyways, I've given you much attention, enjoy it as your trophy.

When it’s time to actually convey knowledge that would be useful to someone else you run lol. It’s fine i am familiar with the crab mentality

Thanks I am already enjoying my trophy

Digmygold:


Which condition your papa dey? Cab driver claiming Million Dollars. You were rude first yet you did not tag yourself bitter. Can't take what you dish? Typical.

I will never be bitter to people I don't know, not worth it.
A lady.

Life is too short for bitterness.
My dad is late. Such a loving man that taught me how to not allow people and events dictate my life.
My post was actually out of concern albeit forceful.
Take care

shaybebaby:

Your ignorance is not my problem.

You're the one who is ignorant
Don't turn it to fight
You are finding it hard to admit a basic fact due to superiority complex

IbeOkehie:


Please tell them. Facts speak for themselves. No need to look far in the age of internet. Here's one from Baltimore Maryland, one of the UNDESIRABLE cities in the USA. I chose this house because I know a Nigerian couple that bought on the same street back in 1986 for $90K.

https://www.zillow.com/homedetails/1127-Cowpens-Ave-Baltimore-MD-21286/36411353_zpid/

This house was bought for $79K in 1979. Today it's priced over $500K. The records as shown make it likely that it's owned by the same person/family that originally bought it in 1979 because it hasn't been bought or sold since then. It's very likely the mortgage is paid off. Ditto for the Nigerian family, they've lived there since I came to this country. The man is a high school teacher, wife is a nurse.

So what exactly is the problem with mortgage biko nu? Gain of $400K = ₦560 million at current exchange rate. As in, half a billion naira....this man and wife can sell their house and get half billion naira cash. And the kids are all grown, one is nurse, one engineer at Microsoft. When the parents do die, these kids will inherit this profit. Imagine how comfortable their grand children will be. Would this have been possible in Nigeria?

Another friend of mine, Asian Indian, all of his siblings are professionals. They lived together in their parents house for 7 years, including their spouses. Saving like crazy. In 2010 when my friend moved out he was able to buy a house in Washington DC for CASH.

This is the power of cooperative inter-generational wealth in the USA. This is in no way rich by our standards here, these are middle class people because government tax data shows 99% of Americans earn less than $400K per year.

Anyway to each their own. Anyone who wants to experience, observe or interact with poverty should stay in Nigeria. Nigeria is the Poverty Capital of the World.

Good Luck to Nigerians.

Are you now implying that landed properties only appreciate in the Western countries?

As at 1979, land in Lekki was less than 5k. Today, it is worth N100m. So what's your point exactly?

Kukutenla:

You're the one who is ignorant
Don't turn it to fight
You are finding it hard to admit a basic fact due to superiority complex

Whatever helps you sleep at night. Invest in Nigeria all you want. Your money your choice.

There are many ways to skin a cat.

Kukutenla:

Are you now implying that landed properties only appreciate in the Western countries?

As at 1979, land in Lekki was less than 5k. Today, it is worth N100m. So what's your point exactly?

Land appreciates in Nigeria in naira terms.

All the while the same naira is depreciating in dollar terms.

My point is that when you do the calculations you find that investing in the US/UK gives better returns. I've done the calculations myself multiple times in many different situations and that is ALWAYS the case.

For example, given the naira rate back then, ₦15,000 may have been sufficient for a down payment on the $79K house in the USA. Today that same ₦15,000 will be worth ₦500 million naira if it had been invested in the USA house.

Also you're talking undeveloped land in Lekki right? Meaning leaving it empty earning very little rent. Or investing a good amount to build.

Compare to the USA house that served as a primary home or could have been rented out. Meaning the owner could have paid almost nothing in ongoing payments.

Now let's put it all together. Which is the better return? Carefully go through the calculations and see for yourself. THAT IS MY POINT, the USA has ALWAYS provided better real estate returns than Nigeria. It would have been better to invest that ₦5,000 into USA real estate.

Again do the math. Basically the astronomical depreciation of the naira DESTROYS all nominal gains.

Then add the risk. Whatever you think you own in Lekki could be taken by government tomorrow, one local Oba could wake up and start contesting the landed property you THINK you own. You might be an Igbo man and dispossessed solely on basis of your ethnicity.

Whatever man.

Good Luck to Nigeria.

IbeOkehie:


Land appreciates in Nigeria in naira terms.

All the while the same naira is depreciating in dollar terms.

My point is that when you do the calculations you find that investing in the US/UK gives better returns. I've done the calculations myself multiple times in many different situations and that is ALWAYS the case.

For example, given the naira rate back then, ₦15,000 may have been sufficient for a down payment on the $79K house in the USA. Today that same ₦15,000 will be worth ₦500 million naira if it had been invested in the USA house.

So which is the better return? Carefully go through the calculations and see for yourself. THAT IS MY POINT, the USA has ALWAYS provided better real estate returns than Nigeria. It would have been better to invest that ₦5,000 into USA real estate.

Again do the math. Basically the astronomical depreciation of the naira DESTROYS all nominal gains.

Then add the risk. Whatever you think you own in Lekki could be taken by government tomorrow, one local Oba could wake up and start contesting the landed property you THINK you own. You might be an Igbo man and dispossessed solely on basis of your ethnicity.

Whatever man.

Good Luck to Nigeria.

You're fixated on dollar that's the problem. The dollar also suffers depreciation. $1 in 1979 is not same with $1 in 1999 and certainly not same with $1 in 2019. You're thinking like the average Nigerian big man who must dollarise everything. Naira for naira, dollar for dollar, the land in Lekki has appreciated better than the one you described. Less than 5k worth 100m compared to 79k worth 400k.
Meanwhile, the guy in Nigeria will pay less tax on his properties than in the US.
That said, I'm not aware of any Oba taking over properties arbitrarily. That's another imagination from you guys.
But I agree the depreciation of naira value against other currencies is a problem though

shaybebaby:

Whatever helps you sleep at night. Invest in Nigeria all you want. Your money your choice.

There are many ways to skin a cat.

Exactly!!

Kukutenla:

You're fixated on dollar that's the problem. The dollar also suffers depreciation. $1 in 1979 is not same with $1 in 1999 and certainly not same with $1 in 2019. You're thinking like the average Nigerian big man who must dollarise everything. Naira for naira, dollar for dollar, the land in Lekki has appreciated better than the one you described. Less than 5k worth 100m compared to 79k worth 400k.

Meanwhile, the guy in Nigeria will pay less tax on his properties than in the US.

That said, I'm not aware of any Oba taking over properties arbitrarily. That's another imagination from you guys.
But I agree the depreciation of naira value against other currencies is a problem though

And which Nigerians could afford ₦5,000 in 1979? In 1990 my parents were teachers with University degrees. Their combined income was ₦1,000 per month. Meanwhile as I've said, a Nigerian teacher in the USA owns a near identical house on the same street since 1986.

Lagos may be the best place to buy real estate in Nigeria. Baltimore is one of the worst metro-areas to buy in the USA.

I added something else to my thesis...the investment in Lekki was undeveloped land abi? So it never earned any rent.

If the Nigerian had a chance to buy that home in Baltimore he could have rented it out and had the tenants pay for it. Think about that.

But the bolded. Nigerians pay lots of tax...to the local chief or Omonile. They pay vigilante people for security. They pay bribes to police at checkpoints.

Here in the USA if you rent out a house guess who pays the tax? It ends up on the tenant as long as it's rented.

There was a recent thread here on Nairaland where an Oba went around claiming peoples property. And it's not safe for an Igbo man to own property in Lagos State now.

So you don't know anyone that lost property they paid for in Nigeria? Well I know many such people. In all my time in the USA it has never happened. That's why Festus Keyamo and Tinubu's children own homes in the USA.

Just do the calculations. Numbers don't lie. They amply illustrate why Nigeria is the Poverty Capital of the World

Good Luck to Nigerians.

chyzoo4u:


I don't know about that, I just shared someone's story then emphasized that I can make enough money to buy a house in a year once I step into UK.

shutyoassup

See me and loan, forget it.

Loan, debt, mortgage, borrow, owe, overdue, insolvent, arrears, charges, outstanding dues, and any name associated with the fact that I am a debtor, count me out.

I would rather take ten years to build my house, than get a loan and enrich banks, and be under their trigger, to take it back if I can't pay. Anything that will stress me, count me out. I don't like stress at all.

But to each his own sha, every mallam with him kettle. If mortgage is a success for you, then be my guess.

chyzoo4u:
If you know your onions just like myself (yes, I'm bragging), you can own a house within a year in the UK unlike some discouraging stories some people like to tell.

I hear u

Jogs1900:

How?
If you are in the UK, I don't think you can get a mortgage if you haven't lived there for up to 2 years.

You beat me to the question. Two years is not enough time to build credit to reach FICO score that will qualify one for Credit in UK. Now if you are willing to put down 60% on the house price different ball game partner.