globalresource:



You mean if I want to liquidate everything? Is it not possible to liquidate part of it?

What I need is 7m

Acidosis:


3m plot of land + fence and CofO for 4M? That's impossible. Survey in Ogun states goes for 250-500k. And getting a survey is just one step to obtaining a CofO o.

Besides, why would anyone risk a 4M plot of land for a "paltry" 8M after 7 years when TBills at compounded interest rate (13.57%) would yield 9.8M over the same 7 year period?

That's a terrible investment decision even without being aware of the risk factors (land grabbers, legal issues, stress of getting a new buyer, agency fees, etc.)

condomuser:
Gone are the days when they tell you "Land keeps appreciating", the insecurity in naija doesn't allow for lots of diversity in landed properties today. It is better to buy property in a choice location with COfO at reasonable price than go and buy land inside a bush and wait 20 years for development to enter the area, often at-times stories go begin enter the land.


Greedy men everywia, I rather eat my sweat than allow some local land re-sellers use my money to drink pepper soup.

I recently sold a land that i bough at N3m in ibeju Lekki in 2011 at N3.5 million due to stories that were sounding like pasuma music to my ears, i have decided to eat peppersoup with the money until it finishes. A plate of peppersoup currently goes for N1,200, that means i can eat 2,916 plates of peppersoup .

kamsy4God:
Stanbic ibtc secondary market rates today :
104 days = 10.9%
160 days = 11.4%
258 days = 11.5%

I did 160 days.

globalresource:



You mean if I want to liquidate everything? Is it not possible to liquidate part of it?

What I need is 7m

igbizen:

I also keyed into 160days.

RealityShot:
chigo4u
..
it was supposed to be next wednesday..
but pub. Holidays...

so it will be till next 3 weeks because you cannnot submit form before wed.

RealityShot:
chigo4u
..
it was supposed to be next wednesday..
but pub. Holidays...

so it will be till next 3 weeks because you cannnot submit form before wed.

TotoNaRubber:
You can buy from trusted Abokis in the streets or you can buy from people remitting funds to Nigeria depending on your location.

But you need to have an account domiciled in the currency you want to invest in, there are banks with little withdrawals fees, make inquiries regarding the banks and give us a feedback. Usually you need a minimum opening balance of $100.

C505:
@ freeman67, tritritri, desanta, ahiboilandgas for your wisdom. God's blessings continually be upon you and all of us aspiring for a common goal.

Let me stick with my MM and TB.
I was trying not to put all eggs in a basket but this basket still looks OK

Thanks house

Bamz:


Very valid concerns but I think you would agree that buying the land from established real estate companies would extirpate majority of these risks.

kamsy4God:
Stanbic ibtc secondary market rates today :
104 days = 10.9%
160 days = 11.4%
258 days = 11.5%

I did 160 days.

735i:


Do you not think that shorter tenors is the way to go at this time? Huge maturities ahead and pressure on reserves should force meffy raise rates...no?

Acidosis:
Very true bro

Bamz:


Who's had experience with real estate companies like Adron?

Are there other reputable coys like them?

My colleague just opened my eyes to sth I thought I should have known. Getting a loan to buy a land for long term keeps and resale makes so much sense. Let's say a Microfinance firm gives you 1.5m (to pay 300k interest). That 1.5m can be used to get land assets that would take care of the paid interest and still yield some profit in a few years.

The only risk I'm seeing is maybe lack of buyers but this isn't a risk per see esp if one consults planners to estimate tu e potential of a particular area.

I need opinions here.

IkalaiyeLOTO:


Narrow escape

TotoNaRubber:
Ahaaaaa
What if you buy a land in dispute and give the scammers the whole N1.5 million and become Aaron

In Nigeria, you have to look at the risks first before profits.

kamsy4God:
Stanbic ibtc secondary market rates today :
104 days = 10.9%
160 days = 11.4%
258 days = 11.5%

I did 160 days.

Bamz:


Who's had experience with real estate companies like Adron?

Are there other reputable coys like them?

My colleague just opened my eyes to sth I thought I should have known. Getting a loan to buy a land for long term keeps and resale makes so much sense. Let's say a Microfinance firm gives you 1.5m (to pay 300k interest). That 1.5m can be used to get land assets that would take care of the paid interest and still yield some profit in a few years.

The only risk I'm seeing is maybe lack of buyers but this isn't a risk per see esp if one consults planners to estimate tu e potential of a particular area.

I need opinions here.

Bamz:


Who's had experience with real estate companies like Adron?

Are there other reputable coys like them?

My colleague just opened my eyes to sth I thought I should have known. Getting a loan to buy a land for long term keeps and resale makes so much sense. Let's say a Microfinance firm gives you 1.5m (to pay 300k interest). That 1.5m can be used to get land assets that would take care of the paid interest and still yield some profit in a few years.

The only risk I'm seeing is maybe lack of buyers but this isn't a risk per see esp if one consults planners to estimate tu e potential of a particular area.

I need opinions here.

RealityShot:
which mfb will give loan at 20% one-time charge till whenever you can pay up?

Sir, mfbs charge their rates PER MONTH mostly.
So that 300k will be demanded every month till you sell the land!!!


Leave land alone till you have money to invest and wait for 10-15 years before you start getting profit.
Flipping real estate requires A LOT OF LUCK.

And please, did that FRIEND tell you what the "aDron" will charge?

tritritri:


Bros dis one na long story...@Bamz Why not tell your friend to go get the loan and buy d land, after 2 yr..ask him how far..

Make sure he gives u prove of any result..

The Good news is ..Microfinance will be dere after 2yr.. land are always dere ,

If Na loan dey hungry you , Be careful of nigeria banks .

Why not sale ur car use the money for ur BIZ ? if it goes wrong ..after 1 yr ur left with a land and no car. dis is better dan after 1 yr ur left with a land , no rest of mind from d bank, then ur collateral will be taken ?

Using a loan to start a biz ..U must be new to LIFE.

I wish u the best.

OgogoroFreak:
So, why do people take loan exactly?

NL1960:


I = ( P * R * T ) / 365*100 = 250,000 * 10 * 200 / 36500 = 500000000/36500 = 13,698.63

P = Principal

R = Rate

T = Tenor

I = Interest

Discounted Amount (DA) = P - I = 250,000 - 13,698.63 = 236,301.37 (excluding charges)

Hallenjay:
pls which bank is better in term of interest and dat have a minimum of 100k for a start in TB... I've tried fixed deposit many times wit fcmb I gat got nothing. Like 0.5% or less something I can't relate with.
Kindly help... Someone suggest First bank I don't know if there's another else cos I don't like dem

NL1960:


I use Stanbic and so far i have been fine with their primary market rate. Never done secondary market.

Acidosis:



The only issue is that when you buy a land from companies like ADRON, you're not allowed to sell at your own rate. The company do the valuation, and take a certain percentage of the proceeds. Also, note that with companies like ADRON, a land purchased for residential purpose cannot be used for commercial or investment purposes. When you buy for the purpose of investment or commercial, you pay more. These are some of the well spelt clauses on ADRON's Contract of Sales (I have a copy btw). ADRON has been advertising some of their estates for close to 5 years now, so are you gonna wait until they go out of sale? You can't sell higher than their readily available offers.

Some of the benefits include ease of payment/installments (sometimes up to 5 years). However, this also comes with extra sum. That is, when you choose e.g. a 5-year package, you pay significantly higher than the actual value of the land. To sell this kind of land to a new owner might not produce expected profits especially when the coy has several or other similar plots to sell at cheaper rates with installment privileges.

You can compare these terms with other property and real estate companies. I'm sure you will do the proper and due diligence because reputation is a key issue.

I'm not advertising though but you can check LandLagos (they're new, owners of Pork Money), they've got some of the best and interesting deals I've ever seen. My engagement with one of their subsidiary enterprise showed positive and legitimate results.

There are many ways of producing some profits from that loan by investing in some emerging, disruptive and innovative firms in Nigeria, only issue is many of us don't want to hear anything aside TBills and Bonds.

Bamz:


Thank you so much for your comprehensive response.
From the foregoing, it is clear that real estate coys would do all they can to discourage you from reselling then. This leaves one with the tacky option of getting a land from private sellers and doing all the necessary things to secure the land.

There are many ways of producing some profits from that loan by investing in some emerging, disruptive and innovative firms in Nigeria, only issue is many of us don't want to hear anything aside TBills and Bonds.

I'm interested in knowing more about the above for people that may have access to loans.

Jgoldie:


I was confronted by a guy in access bank,he said i should fill the hida form...high interest stuff..is it same as treasury bill