generationz:



Instead of sweating to build houses that will take years and stress to recoup the money why not just buy land. Lots of land in good areas .

Where I stay , we moved in the late '90s . Land the. Was about 150k

Now its about 2-5m for a plot.

Exactly. I think the building for rent model is highly overrated here in Nigeria.

Building for commercial purposes (malls, hotels etc.) is much better but it takes a lot of planning (government and corporate insider info) to get in at the right time.

What's easier for most people is to just buy land.

My mother bought some land in the outskirts of Ilorin a few years ago and sold at a significant profit last year. Land always appreciates. It might be slow or it might be fast, but rental property is a no-go for me.

And I totally agree with @ahiboilandgas re what he said about sticking to land with C of O. It's not a hard and fast rule if one is capable of doing the registry search as well as other investigations, but it's a good rule for most "casual" investors to stick to.

I almost bought some land in Ibeju Lekki two months ago but the agent's explanation of the title was fishy. It's better to stick with what one knows, plus Lagos land wàhálà ehn, no be for gentleman like me .

koonbey:


Exactly. I think the building for rent model is highly overrated here in Nigeria.

Building for commercial purposes (malls, hotels etc.) is much better but it takes a lot of planning (government and corporate insider info) to get in at the right time.

What's easier for most people is to just buy land.

My mother bought some land in the outskirts of Ilorin a few years ago and sold at a significant profit last year. Land always appreciates. It might be slow or it might be fast, but rental property is a no-go for me.

And I totally agree with @ahiboilandgas re what he said about sticking to land with C of O. It's not a hard and fast rule if one is capable of doing the registry search as well as other investigations, but it's a good rule for most "casual" investors to stick to.

I almost bought some land in Ibeju Lekki two months ago but the agent's explanation of the title was fishy. It's better to stick with what one knows, plus Lagos land wàhálà ehn, no be for gentleman like me .

True

igbizen:

Buying of lands is still very risky. Unless the very expensive ones. People are extremely greedy now. I bought a plot of land from a family for 5M, I just found out that the land was also sold to a guy by the last born of the family. Although my lawyer has assured me of victory, the case has been in the court for 2years plus now.

Did you involve a lawyer in the investigation and negotiation process before you concluded the sale and signed the deeds?

Most people don't, hence avoidable issues such as this.

Nonetheless, if your own transaction was with the family head and principal members, you should be on safe ground.

The court case is very tiring and decision making takes time plus expenses.

I have been constantly told by relatives to come and build a hostel in a remote area where a self contain goes for N60k/year. Building a 30 units self con will cost 40 million minimum.


Then it will take 22 years to recover the 40 million expenses and from the 23rd year i should be expecting profit. I haven't factor the cost of repairs and any reconstruction which could push my profit year to start from the 25th year.

I told them my analysis and they were all shocked and said "Chai" �

I haven't factor in the exposure that comes with building, people start to know your worth when you start a housing project, they will bring all their problems to you.

igbizen:

Buying of lands is still very risky. Unless the very expensive ones. People are extremely greedy now. I bought a plot of land from a family for 5M, I just found out that the land was also sold to a guy by the last born of the family. Although my lawyer has assured me of victory, the case has been in the court for 2years plus now.

koonbey:


Did you involve a lawyer in the investigation and negotiation process before you concluded the sale and signed the deeds?

Most people don't, hence avoidable issues such as this.

Nonetheless, if your own transaction was with the family head and principal members, you should be on safe ground.

nope you got it wrong at the 22 year the value of the house will be around 80 m and the 60 k rent will have been 120 from the ten year ...so your total income will be around =130m spanning 22 years

ahiboilandgas:
nope you got it wrong at the 22 year the value of the house will be around 80 m and the 60 k rent will have been 120 from the ten year ...so your total income will be around =130m spanning 22 years

I think you intended to quote Igbizen.

Good insights, though.

However, costs of maintenance will also rise, as will insurance costs, plus taxes.

In addition, assuming that student hostels will be fully subscribed year in year out is very optimistic, but since he did his market survey, let's assume it's feasible.

ajon1:
At the bolded, I'm aware of that. I only strive to get by everyday, there's no money for TB.
It's about "man know man" here in Abuja. Senator no easy to see like dat nah

I like the suggestion given to you to go to the National assembly. You have a senator from your state maybe about 3 go meet any of them or if na to block am for state. Massage his ego that you are his biggest fan and want him to be your mentor. Offer to work for him for free to learn the rope (lucky for you na Political science you study)
He will most likely allow you to be his aide and forget that for free part he go dey give you allowance and you go begin build up experience. Be bold O.
Don't make it look like you are after money or be pitiable as if you are suffering, act like you know what you want which is to learn not neccesarily after the money (all na packaging)

N.B - do your home work and investigate the 3 senators to know which one get soft heart before you go. House of Reps members are also there. Bros no dulling for Naija O. Think my brother and be bold. If you are determined and bold before 2 months you go meet one-on-one with your senator

Forget impossible and be determine

Goodluck

janga:


u don’t need any document, u jst need to write and sign a letter stating u want to invest in tbill

Okay
Thank you.
Is there a specific format or I can come up with something myself?

[quote author=ahiboilandgas post=80056670]nope you got it wrong at the 22 year the value of the house will be around 80 m and the 60 k rent will have been 120 from the ten year ...so your total income will be around =130m spanning 22 years [/quot

Assuming he will go to the market to park tenants to fill the rooms always and nobody will owe rent and non will land in court threatening send landlord to jail. After every tenant, you repair the house with atleast 10k as plumbing, switches window and door misalignment and so many things to fix. The building I abandoned at painting stage, I spend 12k to clear the weeds every 6 months even when nothing is happening. Because it's in estate and mgt wouldn't take it. Proper is profitable but read wide like you are doing now.

[quote author=Barrytone post=80066483][/quote]am not assuming (Am not a rental property fan) But I have expirence my 3 apartment have been on rent since 2005 without any problem just tenant spliting payment or 3 months delay ... (o only rent out to working class ) the tenant do small repairs like bore hole,plumber etc they have security deposit ...my grand dad properties still minting rents since 1968 while my dad own still minting rent since 1985 (cooperate clients) while me residential clients (since 2005 )

Amebo123:

I like the suggestion given to you to go to the National assembly. You have a senator from your state maybe about 3 go meet any of them or if na to block am for state. Massage his ego that you are his biggest fan and want him to be your mentor. Offer to work for him for free to learn the rope (lucky for you na Political science you study)
He will most likely allow you to be his aide and forget that for free part he go dey give you allowance and you go begin build up experience. Be bold O.
Don't make it look like you are after money or be pitiable as if you are suffering, act like you know what you want which is to learn not neccesarily after the money (all na packaging)

N.B - do your home work and investigate the 3 senators to know which one get soft heart before you go. House of Reps members are also there. Bros no dulling for Naija O. Think my brother and be bold. If you are determined and bold before 2 months you go meet one-on-one with your senator

Forget impossible and be determine

Goodluck

Thanks sir

Personally my take on all this is invest in whatever even if it will take you 22 years to start making profit that 22 years will still come and go and if you didn't invest in it then you would regret plus generations to come will still have something to fall back on

goodboy744:
Personally my take on all this is invest in whatever even if it will take you 22 years to start making profit that 22 years will still come and go and if you didn't invest in it then you would regret plus generations to come will still have something to fall back on

that's the idea....most people don't even live long enough to enjoy the fruits of their investments

missKeri:


Okay
Thank you.
Is there a specific format or I can come up with something myself?

I can send you my format. You may send me a direct msg.

ositadima1

We're currently experiencing dynamic support for btc oh. I waited to get in at 10900 to no avail. I hope it can retrace to 11k atleast. There's been a sort of range contraction if you ask me, as volatility isn't as I want it.

Let the bull szn continue.

TotoNaRubber:
The court case is very tiring and decision making takes time plus expenses.

I have been constantly told by relatives to come and build a hostel in a remote area where a self contain goes for N60k/year. Building a 30 units self con will cost 40 million minimum.


Then it will take 22 years to recover the 40 million expenses and from the 23rd year i should be expecting profit. I haven't factor the cost of repairs and any reconstruction which could push my profit year to start from the 25th year.

I told them my analysis and they were all shocked and said "Chai" �

I haven't factor in the exposure that comes with building, people start to know your worth when you start a housing project, they will bring all their problems to you.

I can relate well with this. It was my biggest mistyake ever. Built a rental income for almost 36M to be earning 1M per year. The worst investment of my life. Never will i tried a rental income for now except circumstances changes.

Bamz:
ositadima1

We're currently experiencing dynamic support for btc oh. I waited to get in at 10900 to no avail. I hope it can retrace to 11k atleast. There's been a sort of range contraction if you ask me, as volatility isn't as I want it.

Let the bull szn continue.

One thing is certain, it is heading upwards. Since I am not very sure about its liquidity and to keep risk low I have adopted a simple strategy, I buy constant amounts every month, my target is to hold one bitcoin long term. My regret is that I should have started earlier.

By the way it is at $12,600.

Bamz:


I can send you my format. You may send me a direct msg.

DM sent

ositadima1:


One thing is certain it is heading upwards. Since I am not very sure about its liquidity and to keep risk low I have adopted a simple strategy, I buy constant amounts every month, my target is to hold one bitcoin long term. My regret is that I should have started earlier this year when it was at $8,000

By the way it is at $12,600.

Lol its not a regret, it's lessons learnt. Buying constant amounts at fixed intervals is very smart.

You mean you should have started at 3k not 8k.

Well 14k will be a new 52 week high but I'm sure whatever plunge it takes below 10k levels is to be able to break current 52 week high.

missKeri, Done.

Jejebabaa:


I can relate well with this. It was my biggest mistyake ever. Built a rental income for almost 36M to be earning 1M per year. The worst investment of my life. Never will i tried a rental income for now except circumstances changes.

it either they cheated you in the project or you over paid for land a building wort 36m will bring in 1.8 m-2m as annually .....while a building of 20 will bring in 1m .....that 5he hiidden rule (expect if their is wars or external factor like sudden road..

Bamz:


missKeri, Done.

I didn't get it. I'll resend the DM

missKeri:

I didn't get it. I'll resend the DM

I've sent it again. Maybe check your spam folder.

Bamz:


I've sent it again. Maybe check your spam folder.

I've seen it now. Thank you so much.

Bamz:


I can send you my format. You may send me a direct msg.

Pls also send it to me, tnx

ahiboilandgas:
it either they cheated you in the project or you over paid for land a building wort 36m will bring in 1.8 m-2m as annually .....while a building of 20 will bring in 1m .....that 5he hiidden rule (expect if their is wars or external factor like sudden road..

I doubt if i was cheated cos it was handled by a trusted uncle, its because the project was in Ogun state and its a 4 units of 3 master bedroom ensuite flat (storey building) but the rent is just 250k/annum for each flat. Worse of it all, i only get net pay of 900k as Jide Taiwo and Co gets 10% of the gross amount.

Jejebabaa:


I doubt if i was cheated cos it was handled by a trusted uncle, its because the project was in Ogun state and its a 4 units of 3 master bedroom ensuite flat (storey building) but the rent is just 250k/annum for each flat. Worse of it all, i only get net pay of 900k as Jide Taiwo and Co gets 10% of the gross amount.

That 36m could be worth 50m in value now if not more. Beyond the immediate return is the real worth and I think it's not that bad a step afterall.

Reading posts here changed my mind about investing in property patapata. I no do. I ll get a mortgage instead.

Also,reading about bitcoin makes my heart bleed. I downloaded remitano. still have no idea how to buy the actual bitcoin. My bank has been enjoying my cash for 2 weeks now.

Bikonu I need help

Jejebabaa:


I doubt if i was cheated cos it was handled by a trusted uncle, its because the project was in Ogun state and its a 4 units of 3 master bedroom ensuite flat (storey building) but the rent is just 250k/annum for each flat. Worse of it all, i only get net pay of 900k as Jide Taiwo and Co gets 10% of the gross amount.

it a golden rule...your uncle was cheated then ...that how pricing in valuation is dine.. ...try and put the house for sale then you understand what am saying better ...a flat in ikoyi is 100m not cos of roofing sheets or p.o.p or trees cos it can fetch 5 m naira ad annually rents

For those who're interested in GT's Investment One,

Dear Valued Customer,
 
Following the review of the Monetary Policy Rate (MPR) by the Central Bank of Nigeria from 14% to 13.5%, we wish to notify you that the guaranteed interest for the Vantage Guaranteed Income Fund (VGIF) has been reviewed downward from 9% to 8.5%
 
This new rate takes effect from July 1, 2019.

missjekyll,
I buy/sell. Trade directly or check my portal. Contact below.

yungestmoney, done.

ahiboilandgas, is it smart to buy those landed properties advertised on radio and TV?

Bamz:
For those who're interested in GT's Investment One,

Dear Valued Customer,
 
Following the review of the Monetary Policy Rate (MPR) by the Central Bank of Nigeria from 14% to 13.5%, we wish to notify you that the guaranteed interest for the Vantage Guaranteed Income Fund (VGIF) has been reviewed downward from 9% to 8.5%
 
This new rate takes effect from July 1, 2019.

missjekyll,
I buy/sell. Trade directly or check my portal. Contact below.

yungestmoney, done.

ahiboilandgas, is it smart to buy those landed properties advertised on radio and TV?

nope ,they are profit driven already ...u be investor na u need profit ....

If u dey place like Lagos.....buy apartment for festac na.....8m ,rent am for 450k then sell am in 5 years time 12m or enter game village by apartment 9m upgrade for 1m tell rent for 700k sell am after 5 years for 15m
...if u get money buy old house for surulere for like 20m redesign am with 10 then put for sale like 45m ..... (one London base guy go just come pay )