tomtom370:
Damn! How long did he refuse to pay before you took him to court?

I have a tenant like this. The first and only time he saw me, he said: “where did a young man like you saw money to buy and own this property?” I was like see question ooo.

From that moment, I knew he had the possibilities of undermining me. I simply handed him over to the estate manager, yet he’s refused to pay. He recently paid like 40% just before the lockdown.

Might take legal action against him after giving him two months post-lockdown grace.

I don't know why people make the mistake of dealing directly with their tenants.


Get a lawyer, a facility manager or an estate agent to deal with tenants and you will give yourself peace of mind.

Real Estate is the way to go now, currently I am negotiating with housing agents for some properties. Nigeria real estate investment don't pay much taxes, I own a property overseas and my tenants pay N260k a month for a two bed flat, the tax I pay on the properties is very discouraging.

Always use a third party to run your rental property if you do not live in the country, do not come in close contact with tenants when they owe you, things can easily get personal and other tenants who have grudge against you may start conniving but with third party they have less conflict.

@ i listen to the lady yesterday their is a probability that the TB rates would improve slightly. Not sure what u meant by thinking outside the box coz TB bills , Bonds is outside the box. Investing in properties is capital intensive now. Person go chase tenant tire, person throat go dry like dry pepper.

ukay2:


Very unlikely to increase NTB rate from her countenance yesterday.

There is so much liquidity in the system chasing government securities.

FGN is even happy seeing oversubscription of their securities at the current ridiculous rates.

We need to think outside the box for now.

Bros na third party i dey use, i even use fourth party self. my bp dey high sometimes.

PresidentBuhari:
Real Estate is the way to go now, currently I am negotiating with housing agents for some properties.

Always use a third party to run your rental property if you do not live in the country, do not come in close contact with tenants when they owe you, things can easily get personal and other tenants who have grudge against you may start conniving but with third party they have less conflict.

Sholapey:
Some of them are good but one of my tenants pleaded I should take her as my mother immediately her rent lapsed. Another one refused to pay rent because he said people I sent to repaint the exterior of the property was looking at his wife while bathing and he wanted me to take him to court because he refused to pay, but instead I sent some boys from Lagos island to spend some lousy time in my apartment with drinks allowance. Two weeks after, the problematic tenant move out and the mama quickly paid her rent. Omo ina lan ran si ina. Mi o raye court

Loooooool

Very funny tenants everywhere.

I have a new tenant, in one of my comercial apartments in Abuja, that always send me new month messages. I told my wife that am worried about this tennant messages to me with prayers. She said why? I told her I don't do business with Christainees or Muslimees. This is because they hid under religion and refuse to pay up on time.

Last month was his 2nd year in the apartment, his rent is due, oga pay rent na.....stories upon story na. My Lawyer wants to serve him quit noticed, but am having cold feet dealing with him. I will give him 3 months grace due to the economic realities.

I hope he settles his rent on time.

tomtom370:
Damn! How long did he refuse to pay before you took him to court?

I have a tenant like this. The first and only time he saw me, he said: “where did a young man like you saw money to buy and own this property?” I was like see question ooo.

From that moment, I knew he had the possibilities of undermining me. I simply handed him over to the estate manager, yet he’s refused to pay. He recently paid like 40% just before the lockdown.

Might take legal action against him after giving him two months post-lockdown grace.

na crazy people na so some group of women wanted for rent my house ,so they where calling me for days when i finally came ,they look suprised if i was the owner ..one idoit out of them said ...but u never suffer well well na ...so zucgerberg of face book fa Idoits the agent later point to the opposites house told tell that my resident ....my name turn to sir instantly ....them come dey as for discounts which i gave them.....how can u assume when u dont know my backgrounds or family ...the house was even built 10 years ago

Barrytone:
My wife was working when we were dating and I was jobless but was streetwise. Got a job, got married, relocated her from her job location and she resigned. The only job she has now is to wife me and mother my children till the last kid gets to 4. Then she will get any business of her choice to manage as am not expecting her to go start all over when her peers must have risen above her. She will be the CEO of her own biz. Time is tough so I understand couples both working and risking he kids future. I understand why misery School closes by 4pm is for parents to get back from work. That is detrimental to the kids welfare. Leaving your kids entirely to nanny is equally unacceptable. Our kids are our greatest assets. I will love her to work but I will love our kids to have the best parenting. My sister and the husband were colleagues and earning almost same salary, after years of battling for who to resign. We pressurized my sister to resign being the lady that can handle kids and not the man. She left with the kids to UK, today she has a PHD and is only waiting for the kids to be independent then she comes and take up lecturing. Let your selfishness don't put your kids in arms way.

Thanks for this realistic comment. But I would like to know if your brother-in-law(her husband) remained in Nigeria when your sister relocated to the UK with the kids. If yes, for how long before he joined them in the UK?

Bros if i were you i go warn am make him no send any message to my phone or i fit block am.

ukay2:


Loooooool

Very funny tenants everywhere.

I have a new tenant, in one of my comercial apartments in Abuja, that always send me new month messages. I told my wife that am worried about this tennant messages to me with prayers. She said why? I told her I don't do business with Christainees or Muslimees. This is because they hid under religion and refuse to pay up on time.

Last month was his 2nd year in the apartment, his rent is due, oga pay rent na.....stories upon story na. My Lawyer wants to serve him quit noticed, but am having cold feet dealing with him. I will give him 3 months grace due to the economic realities.

I hope he settles his rent on time.

Godbpraised:
@ i listen to the lady yesterday their is a probability that the TB rates would improve slightly. Not sure what u meant by thinking outside the box coz TB bills , Bonds is outside the box. Investing in properties is capital intensive now. Person go chase tenant tire, person throat go dry like dry pepper.

U didn't listened to the deep meaning of what she intended to mean....hahahahaha

....so much liquidity in the system. Also OMO of 7trillion is maturing this year to add to the excess liquidity. More oversubscription of FGN Securities etc.

For me....outside the box is outside NTB.

Am currently in NSE, FGN Bonds, Comercial Papers of good companies and MMF.

Any other business, I no follow.

I can imagine, I recently encountered this with two tenants in one of my properties in Nigeria, the first one moved in with okada to the flat, within 3 years he progressed, his business started moving well, he bought 5 vehicles, 3 trucks, 2 private cars and married, currently he has 3 kids. My caretaker even used my car to rush his wife to hospital for delivery for his first child while he was still riding okada at the time.

He is uneducated, recently he felt he has made money and started causing problems at my property, he slapped his fellow tenants wife . When I heard it I was shocked but I expected the husband of the man slapped to deal with him cos he had reasonable amount of money but the man did nothing and said he will let it slide.

I couldn't take such and I made some contacts as early as 6am, some new recruits from 82 division came and bundled the troublesome tenant away saying their oga sent them due to what he did to the woman. They beat him black and blue, he returned and piped low for some weeks, a few months later he started trouble again, this caused one tenant to move out, two tenants were already having issues with same troublesome tenant, through a third party, I contacted a lawyer, paid N40k, he issued eviction notice for the tenant, followed it up and within 4 months the troublesome tenant packed out, we didn't even get to court which was going to cost at least 250k.

The second tenant is with the police force, same strategy but this time used only a lawyer as he is a bit educated and understood he will be evicted of he didn't pay, he has been paying in advance ever since.

Understand the type of tenant and apply a suitable approach.

Godbpraised:
Bros na third party i dey use, i even use fourth party self. my bp dey high sometimes.

Godbpraised:
Bros if i were you i go warn am make him no send any message to my phone or i fit block am.

Hahahahaha

I never see test message for this month oo.

One of the reasons I entered commercial buildings is to help in solving the housing deficit in the country; knowing my background and how God has being faithful to me......not just for economic gains.

It gives me joy am providing good accommodation to some families, but some people will just make you to stop doing that. I even wanted to sell all the buildings and put the fund into portfolio investments, but I always remember the reason I ventured into comercial buildings.

I have not done any building project since 5 years now......rather put the funds in equities and other FGN Securities to have rest of mind.

Yeah i agree with you she was a bit diplomatic in answering her questions. But i will be on the look out for Commercial papers , Mutual Funds i know get kidney and liver for am. Rates for TB bills fit no make sense i suspect their would be some corporate bonds that will offer good rates but one must be very careful too. i will be on the look out for dangote perhaps and Lever brothers or Nigerian breweries. I no wan near property now, the wahala too must. may be until i have a good firth party.

ukay2:


U didn't listened to the deep meaning of what she intended to mean....hahahahaha

....so much liquidity in the system. Also OMO of 7trillion is maturing this year to add to the excess liquidity. More oversubscription of FGN Securities etc.

For me....outside the box is outside NTB.

Am currently in NSE, FGN Bonds, Comercial Papers of good companies and MMF.

Any other business, I no follow.

Hmmm u can imagine ? i normally take them to court of arbitration, those ones sabi handle them well.

PresidentBuhari:
I can imagine, I recently encountered this with two tenants in one of my properties in Nigeria, the first one moved in with okada to the flat, within 3 years he progressed, his business started moving well, he bought 5 vehicles, 3 trucks, 2 private cars and married, currently he has 3 kids. My caretaker even used my car to rush his wife to hospital for delivery for his first child while he was still riding okada at the time.

He is uneducated, recently he felt he has made money and started causing problems at my property, he slapped his fellow tenants wife . When I heard it I was shocked but I expected the husband of the man slapped to deal with him cos he had reasonable amount of money but the man did nothing and said he will let it slide.

I couldn't take such and I made some contacts as early as 6am, some new recruits from 82 division came and bundled the troublesome tenant away saying their oga sent them due to what he did to the woman. They beat him black and blue, he returned and piped low for some weeks, a few months later he started trouble again, this caused one tenant to move out, two tenants were already having issues with same troublesome tenant, through a third party, I contacted a lawyer, paid N40k, he issued eviction notice for the tenant, followed it up and within 4 months the troublesome tenant packed out, we didn't even get to court which was going to cost at least 250k.

The second tenant is with the police force, same strategy but this time used only a lawyer as he is a bit educated and understood he will be evicted of he didn't pay, he has been paying in advance ever since.

Understand the type of tenant and apply a suitable approach.

emmanuelewumi:




Which sectors are you eyeing in the equity market?

Sir, I will like more downward price movement to increase my holdings

Manufacturing -Dangcem
Banking - Zenith &UBA
Other financials-UCAP and Apr
Real estate -UPDC-REIT
Food&beverages -FMN

I am worried about pharmaceutical industry because most are not patronised by our government. The ones that are in good supply of hospital utilities to most hospitals like Juhel Pharmaceutical company is not listed in NSE. The guy in Juhel is making cool money, but he refused to enlist in NSE.

Oga Tomtom370, I de fear the real sectors as you rightly highlighted

Na NSE and good FGN Securities other than NTB I meant by thinking outside the box of NTB.

Godbpraised:
Yeah i agree with you she was a bit diplomatic in answering her questions. But i will be on the look out for Commercial papers , Mutual Funds i know get kidney and liver for am. Rates for TB bills fit no make sense i suspect their would be some corporate bonds that will offer good rates but one must be very careful too. i will be on the look out for dangote perhaps and Lever brothers or Nigerian breweries. I no wan near property now, the wahala too must. may be until i have a good firth party.

Yes Sir.

But be careful with Lever Brothers. ....their current financials is not too good.

I think United Capital has a bond on sale now with minimum investment of N10M at 12-13%. I think it's good establishment.

Am for equities now....Until I see bonds at discount prices.

ukay2:


Sir, I will like more downward price movement to increase my holdings

Manufacturing -Dangcem
Banking - Zenith &UBA
Other financials-UCAP and Apr
Real estate -UPDC-REIT
Food&beverages -FMN

I am worried about pharmaceutical industry because most are not patronised by our government. The ones that are in good supply of hospital utilities to most hospitals like Juhel Pharmaceutical company is not listed in NSE. The guy in Juhel is making cool money, but he refused to enlist in NSE.

Is Juhel manufacturing drugs or he imports drugs. GSK, May and Baker, Fidson are not doing badly but they are competing with cheaper drugs that are imported from India

Jejebabaa:

You are right sir and even Warren Buffet made a similar mistake by buying ConocoPhillips in USA as well. But he was lucky to sell at a marginal profit when it rose. Investing in oil and gas is risky considering all these environmentalist of going green. Most IOC's are also divesting from the sector by selling their assets in USA and canada especially. Just last week, Schlumberger booked a loss of 10 billion dollars for the year 2019.
In all God help Nigeria that is fully dependent on oil and gas. Yhe industry ain't finding it funny anymore sir.

u disappear from tb threads ....

Sholapey:
Yes oh!!! But hotels ain't safe again because of some staff with eagle eyes, they sight your dollars on arrival.

Loooooool

Madam, disguise when you arrive before theyarrange kidnappers.

Very disturbing how we have deterioted to this level.

Godbpraised:
Yeah i agree with you she was a bit diplomatic in answering her questions. But i will be on the look out for Commercial papers , Mutual Funds i know get kidney and liver for am. Rates for TB bills fit no make sense i suspect their would be some corporate bonds that will offer good rates but one must be very careful too. i will be on the look out for dangote perhaps and Lever brothers or Nigerian breweries. I no wan near property now, the wahala too must. may be until i have a good firth party.

Multinational companies like PZ and Unilever are not finding things easy, their financials are not encouraging, Indian owned businesses are giving them a big battle for market share, profitability and cost of production

emmanuelewumi:



Is Juhel manufacturing drugs or he imports drugs. GSK, May and Baker, Fidson are not doing badly but they are competing with cheaper drugs that are imported from India

Juhel manufactures most routine medications and IV fluids that are use in most hospitals in Nigeria.

If you look very well in every hospital in Nigeria, most things they use are Juhel products and I think their products are a bit cheaper.

I think Juhel has a manufacturing plants in Enugu and Anambra.

I think Gsk and Fidson do more of importation to Nigeria, not manufacturing.

Well noted, sir.

NSE is quite an interesting space with the right knowledge and discipline. Recently ventured in; made some gains, made some losses...Still learning but it’s been exciting.

US Stocks are also quite good...Helps with hedging, amongst other things.

ukay2:
Oga Tomtom370, I de fear the real sectors as you rightly highlighted

Na NSE and good FGN Securities other than NTB I meant by thinking outside the box of NTB.

ahiboilandgas:
the thing wan turn to cbn mmm or ponzi ...keep renewing untill when interest =debt insurment.....rip to investor

Even the almighty federal might has turned to weakness.

If we can doubt FG that means wahala Don double.

But shebi oil price is climbing small small....$23 /barrel abi my eyes no see well ni..

Na wah ooo.

Poverty mentality don too limit our people so tey dem no fit come to terms with people decently making money in their early years and investing wisely.

ahiboilandgas:
na crazy people na so some group of women wanted for rent my house ,so they where calling me for days when i finally came ,they look suprised if i was the owner ..one idoit out of them said ...but u never suffer well well na ...so zucgerberg of face book fa Idoits the agent later point to the opposites house told tell that my resident ....my name turn to sir instantly ....them come dey as for discounts which i gave them.....how can u assume when u dont know my backgrounds or family ...the house was even built 10 years ago

Hmmm true

emmanuelewumi:



Multinational companies like PZ and Unilever are not finding things easy, their financials are not encouraging, Indian owned businesses are giving them a big battle for market share, profitability and cost of production

tomtom370:
Well noted, sir.

NSE is quite an interesting space with the right knowledge and discipline. Recently ventured in; made some gains, made some losses...Still learning but it’s been exciting.

US Stocks are also quite good...Helps with hedging, amongst other things.

Yes Sir.

Am also in USA stocks market.

We keep learning every day and God will continue to bless our side hussles.

Amen.

So true...Direct management is always brutal.

But the default came even with an estate manager involved. The first and only meeting was facilitated by the manager.

The matter just tire me...But I know the law can handle it. I’ve read everything about eviction and consulted the manager.

emmanuelewumi:




I don't know why people make the mistake of dealing directly with their tenants.


Get a lawyer, a facility manager or an estate agent to deal with tenants and you will give yourself peace of mind.

how do i venture into the USA stocks. do i require to be a US citizen

ukay2:


Yes Sir.

Am also in USA stocks market.

We keep learning every day and God will continue to bless our side hussles.

Amen.

zamirikpo:


Even the almighty federal might has turned to weakness.

If we can doubt FG that means wahala Don double.

But shebi oil price is climbing small small....$23 /barrel abi my eyes no see well ni..

Our own crude oil is Bunny oil, which is cheaper than Brent self.

If we had diversified and made Ajaokuta Steel Company working, maybe our economy would have been better now.

But crude oil money is so sweet for our Leaders to think about effective diversification of the economy

Godbpraised:
how do i venture into the USA stocks. do i require to be a US citizen

Just go through this trade.

https://www.nairaland.com/5669161/us-stocks-pick-alert

Thanks

ukay2:


Just go through this trade.

https://www.nairaland.com/5669161/us-stocks-pick-alert

zamirikpo:


Even the almighty federal might has turned to weakness.

If we can doubt FG that means wahala Don double.

But shebi oil price is climbing small small....$23 /barrel abi my eyes no see well ni..

30.5 ....ba brent make u dey check