Nigsrdumb:


There are tenants in the house already. They themselves confirmed the rent. One of the current tenants wants to buy the house but doesn't have enough funds.

Has stated previously only invest in things you understand.

As for inflation rates , I peg my naira against a foreign currency to know when the value of my funds are going down, because I don't believe in the voodoo economics goodluck is playing.

Haba goodluck again...make una leave brother jona alone make him rest oh.

Boyhood:

Pls if you don't mind, how did you grow your initial 2.3m by about 254% in two years? I want to learn from your wealth of knowledge pls

Funny enough.it is the excess I saved from monthly shopping from my husband.he gives me a lot for shopping and I decided to shop less and save more.
I am a full time housewife.

Boyhood:

Pls if you don't mind, how did you grow your initial 2.3m by about 254% in two years? I want to learn from your wealth of knowledge pls

I invested both capital and interest at first,then added my extra savings that's all.
Material things don't move me so I save alot.

Boyhood:

Pls if you don't mind, how did you grow your initial 2.3m by about 254% in two years? I want to learn from your wealth of knowledge pls

discipline and power of compounding could also help like i reinvest TB returns, capital appreciation and dividends in the case of stocks.

tracyorez:

I invested both capital and interest at first,then added my extra savings that's all.
Material things don't move me so I save alot.

Oh... I see, saving/investing excess is a wise decision keep it up

emmasoft:


I understand you are talking of the 250k for diversification. That is why I said open a stockbroking account with investment one with the link on my signature. Then you get stocks known to pay dividends regularly. Base on past performance you can look the way of any of the following: Gtbank, Zenith, Access, Flour mills, Nestle, Dangote Sugar, Okomu, Total, and the likes. Remember, you are 100% responsible for your investment decision

Thanks.i have seen the link.

9%PA right?

emmanuelewumi:




FBN Eurobond is over 9%, which is not bad for a dollar Investment.

Concerning your Treasury Bill, is that your only Treasury Bill Investment.

Boyhood:

Oh... I see, saving/investing excess is a wise decision keep it up

Thanks.I will.

Nigsrdumb:


There are tenants in the house already. They themselves confirmed the rent. One of the current tenants wants to buy the house but doesn't have enough funds.

Has stated previously only invest in things you understand.

As for inflation rates , I peg my naira against a foreign currency to know when the value of my funds are going down, because I don't believe in the voodoo economics goodluck is playing.

Where is the property location pls?

Property business to me is capital NO, I was trick by agent in 2014 buying a property over 55million naira, at ikota villa estate, rental is 3 million naira annually telling me in 3years property will be over 100m today to see a tenant is a problem, 2 times I manage to see a tenant after that annual rent expire to move out na wahala, if them manage move out them go leave damage worth over 1m naira which you have to repaint in and out again, sometimes it stay vacant for about 8months to 1year to get a tenant again, today I am really regretting that investment cos I bought the house when dollar $1 was 198 now devaluation of naira have finish me and even the rent is not coming in, so be wise when buying a property to me now is a no go area anymore.

I read from some eariler posts that FBN Eurobond does not guarantee capital preservation. If so, that is a big no no ......

Okay, Please I just heard about stanbic Investment Funds...does anyone here have any info to share as Regards this?

emmanuelewumi:




Go for Treasury Bill

To corroborate your assertion, sometimes some people are so desperate for funds. 4 years ago I bought a 4 apartment room and parlor self contain for 5.3m and I have been earning 150k for each of the 4 apartments since then without tenants defaulting. I spent about10m on my first building which happen to be hostel. The hostel is 10 rooms self contain for 70k each but most times I don't receive rent of more than 5-6 rooms a year. In the hostel, there is always something to repair ranging from borehole, gate, even nepa disconnecting their light.

Nigsrdumb:


Yes sir, you are correct, but I have people on ground .

There's actually two properties one for 10 the other for 15 .

Some people are really desperate for funds and willing to sell.

One of the properties is close to the family home so they can't try nonsense

Welcome to the last day of the last month of 2019.

We bless God for the achievements of the year.

On another note, what is the future of the Naira with other African countries ready to adopt the ECOWAS Currency called Eco?

In its preliminary assessment, 1 ECO will be equivalent to 1 USD.

Consider the trade dichotomy when NIGERIA and other west African countries with the recent border closure on its impact on their economies.

ibechris:





Haba goodluck again...make una leave brother jona alone make him rest oh.

tracyorez:

Funny enough.it is the excess I saved from monthly shopping from my husband.he gives me a lot for shopping and I decided to shop less and save more.
I am a full time housewife.

Is there chance for another wife? Just asking for someone

Tyche:


Is there chance for another wife? Just asking for someone

Diyke4rich:
Property business to me is capital NO, I was trick by agent in 2014 buying a property over 55million naira, at ikota villa estate, rental is 3 million naira annually telling me in 3years property will be over 100m today to see a tenant is a problem, 2 times I manage to see a tenant after that annual rent expire to move out na wahala, if them manage move out them go leave damage worth over 1m naira which you have to repaint in and out again, sometimes it stay vacant for about 8months to 1year to get a tenant again, today I am really regretting that investment cos I bought the house when dollar $1 was 198 now devaluation of naira have finish me and even the rent is not coming in, so be wise when buying a property to me now is a no go area anymore.

u where trick '...mean that the business( rental ) was responsible...u didnt do enough home work ,under study the terrain well....it beyond just having 55m and any property.....u can over pay for a property......if i use 55m to buy 6 set of 2 bedroom in festact at 8m each ....i will rent all within 1 months at 500k each and if i intend to sell at 10m in 3 years is very much possible cos of some certain parameters like limited supply of new one ,ease of new millionaires hammering 10m m from clearing

They gave you money for shopping and you invested and compounded it? Please, do you have a sister like you?
This is a new one for me on Nairaland.

tracyorez:

Funny enough.it is the excess I saved from monthly shopping from my husband.he gives me a lot for shopping and I decided to shop less and save more.
I am a full time housewife.

I disagree with you. You weren't tricked. @ the bolded Always allow professional(Lawyers, expert property managers) handle your property plus you wanted to make fast profit in short time.

Diyke4rich:
Property business to me is capital NO, I was trick by agent in 2014 buying a property over 55million naira, at ikota villa estate, rental is 3 million naira annually telling me in 3years property will be over 100m today to see a tenant is a problem, 2 times I manage to see a tenant after that annual rent expire to move out na wahala, if them manage move out them go leave damage worth over 1m naira which you have to repaint in and out again, sometimes it stay vacant for about 8months to 1year to get a tenant again, today I am really regretting that investment cos I bought the house when dollar $1 was 198 now devaluation of naira have finish me and even the rent is not coming in, so be wise when buying a property to me now is a no go area anymore.

If I were you I will rent it out on 1.8m and increase after 3yrs.

I will not claim to be an expert in real estate but I think I have observed the pattern enough to make some informed analysis.
For me, if I want to buy or build a house to be a rental property, then it will be a block of 1 or 2 bedroom flats. The demand for that is usually high from bachelor's, spinters, newlyweds, young families, relocating individuals etc. And the location plays very little role in all of these. For me, if you are buying a duplex, it should be because you want to live in it or you are buying at a low price with the aim of selling at the proper market rate. Most people who can afford to rent a duplex can afford to build theirs if they want to.
Also, if a duplex tenant defaults, that is at least 2M hanging somewhere, compare that to a block of four 2 bedroom apartments, if one tenant defaults or packs outs, there will still be income from the other apartments.
Marketers and agents will always sweet talk you into buying a house by helping you see the unrealistic future.

Diyke4rich:
Property business to me is capital NO, I was trick by agent in 2014 buying a property over 55million naira, at ikota villa estate, rental is 3 million naira annually telling me in 3years property will be over 100m today to see a tenant is a problem, 2 times I manage to see a tenant after that annual rent expire to move out na wahala, if them manage move out them go leave damage worth over 1m naira which you have to repaint in and out again, sometimes it stay vacant for about 8months to 1year to get a tenant again, today I am really regretting that investment cos I bought the house when dollar $1 was 198 now devaluation of naira have finish me and even the rent is not coming in, so be wise when buying a property to me now is a no go area anymore.

ojesymsym:
They gave you money for shopping and you invested and compounded it? Please, do you have a sister like you?
This is a new one for me on Nairaland.

My friend bought an old house for 18m...100 by 150 land size built twin houses with 4 apartment(1 bedroom) each totalling 8 apartment well finished @6m each total investment is 18m +48 =66m million ......everthing was rented at 700k x 6 =4.2m ...he even collected tge agreement fees/agent via proxy 600k and everbody paid 100 each at caution deposit 600k ....the tenants are coperate people all working (verified) some chinese guys even paid 2 years of 4 flats

Lesson to learn ...he could have choose to buy a 60m mansion hoping to rent it fot 3.5m to a single tenant...but must NIgerian that can afford to dole 3.5m to rent house have their own buildings too ...so target the middle class (upper)and lower middle class that the workforce that the majority with 200k income or 300k as new couples .....their 17m housing defecit in Nigeria not masions bur small apartments

This reenforces my belief in 1 bedroom and 2 bedroom apartment. It is hard to go wrong with them. Almost everyone I know started from apartments like that as their career progressed.
When rich people like Ahib want to rent houses for their concubines, they also go for such apartments, so the demand stays high with high competition.

ahiboilandgas:
My friend bought an old house for 18m...100 by 150 land size built twin houses with 4 apartment(1 bedroom) each totalling 8 apartment well finished @6m each total investment is 18m +48 =66m million ......everthing was rented at 700k x 6 =4.2m ...he even collected tge agreement fees/agent via proxy 600k and everbody paid 100 each at caution deposit 600k ....the tenants are coperate people all working (verified) some chinese guys even paid 2 years of 4 flats

ojesymsym:
I will not claim to be an expert in real estate but I think I have observed the pattern enough to make some informed analysis.
For me, if I want to buy or build a house to be a rental property, then it will be a block of 1 or 2 bedroom flats. The demand for that is usually high from bachelor's, spinters, newlyweds, young families, relocating individuals etc. And the location plays very little role in all of these. For me, if you are buying a duplex, it should be because you want to live in it or you are buying at a low price with the aim of selling at the proper market rate. Most people who can afford to rent a duplex can afford to build theirs if they want to.
Also, if a duplex tenant defaults, that is at least 2M hanging somewhere, compare that to a block of four 2 bedroom apartments, if one tenant defaults or packs outs, there will still be income from the other apartments.
Marketers and agents will always sweet talk you into buying a house by helping you see the unrealistic future.

Easier said than done ask barrytone and you will marvel

ahiboilandgas:
My friend bought an old house for 18m...100 by 150 land size built twin houses with 4 apartment(1 bedroom) each totalling 8 apartment well finished @6m each total investment is 18m +48 =66m million ......everthing was rented at 700k x 6 =4.2m ...he even collected tge agreement fees/agent via proxy 600k and everbody paid 100 each at caution deposit 600k ....the tenants are coperate people all working (verified) some chinese guys even paid 2 years of 4 flats

This what most Property owner should note

ahiboilandgas:
u where trick '...mean that the business( rental ) was responsible...u didnt do enough home work ,under study the terrain well....it beyond just having 55m and any property.....u can over pay for a property......if i use 55m to buy 6 set of 2 bedroom in festact at 8m each ....i will rent all within 1 months at 500k each and if i intend to sell at 10m in 3 years is very much possible cos of some certain parameters like limited supply of new one ,ease of new millionaires hammering 10m m from clearing

Do u think buying such a house with an interest of 0.0625% per annum is a nice investment? It might take u upto 16 yrs to recoup the initial capital without compounding the interest, as long as the investment didn't go south. How about tenant wahala and deprecation of the house?

ojesymsym:
This reenforces my belief in 1 bedroom and 2 bedroom apartment. It is hard to go wrong with them. Almost everyone I know started from apartments like that as their career progressed.
When rich people like Ahib want to rent houses for their concubines, they also go for such apartments, so the demand stays high with high competition.

make dangote and jim ovia hear u ....u didnt see some bill in aura night club of 10.m ....why 2 bedroom apartment moves is because that the income bracket the Nigeria economy produces more ....if gtb employ 500 new graduates at 250k permonths ...this will be their target home but dangote group might employment on senior manager and rent house of 2.5m in lekki for him

I hear say Dangote non de pay well o. FCMG industries are like that though. Yes, you are spot-on, most income brackets target those kind of apartments.

ahiboilandgas:
make dangote and jim ovia hear u ....u didnt see some bill in aura night club of 10.m ....why 2 bedroom apartment moves is because that the income bracket the Nigeria economy produces more ....if gtb employ 500 new graduates at 250k permonths ...this will be their target home but dangote group might employment on senior manager and rent house of 2.5m in lekki for him

I am not sure I understand you, but my point is that even if one tenant gives you problems it will not likely be all of them at same time.

Pascopele:
Easier said than done ask barrytone and you will marvel

thebargainhunte:


Do u think buying such a house with an interest of 0.0625% per annum is a nice investment? It might take u upto 16 yrs to recoup the initial capital without compounding the interest, as long as the investment didn't go south. How about tenant wahala and deprecation of the house?

renting our property is a business u must manage your self or get involved not just renting out to yahoo boys with immediate cash and others with irregular income .....u must verify thier jobs ,they must submit their application form to you with columns of work place ...u can guess thier income gap ......if i get loan at 0.6 per annum i will build/buy over 50 apartments around festac,iporin estate,game village ,alaka estate i will be making 8 percent per anum then pay up o.6 and use 1 percent for maintenance and be rich for ever