₦airaland Forum

vacanci:
Living in a 2 bedroom duplex in Abuja for 5 years now. House was sold to landlord for 23 million Naira.

Rented for 800k annually.

House was put up for sale recently and @ 15 Million naira, buyers were requesting to buy and pay in installments. Landlord refused to sell.

This is practical example that property cannot always appreciate. It's mere speculation and elements of luck and opportunities

Ijeoma660:
Why building to live in or making profit from rent is the latest type of self-scamming in town.

I was discussing with a friend and we ran the simple analysis. Buying or building a house (duplex) costing you about 40 - 45m in a choice area including cost of land, building et all. That same 45m annually at a modest tbills rate of 10% will offer you about 4.5m which can still afford you a decent rent of 2m (assuming you have a moderate taste) with a balance of 2.5m that can adequately take care of school fees and some family upkeep.

Meanwhile the 45m duplex built will require some 22years before it starts to payoff or break even! This is not to consider the fact that a 20-year old house is already becoming old, maintenance ridden and of course boring. In a stricter sense when the kids are grown and someday leave the house you spent fortune to build, it no longer becomes welcoming as they move to boarding house or out of the country for further studies.

Whereas a rented property gives you the opportunity to move around from one part of town to another and still have a decent income to fall on, or utilize especially in this economy where there is no job security.

On the other hand in building to rent out. Statistically it goes to say that rents generate about 5-10% ROI and not profit to the owner annually.This translates to about 15 years before you start to make any profit from an investment of about 45m! Moreover, when a house is rented out the first rents are easy to get but subsequent rents suffers from what basic economics call diminishing marginal utility...lol

This is not to say building a house is bad or wrong but you can slowly use proceeds from your tbills and other sources to do this. Plan to build the house over a long period as a form of retirement home to present to yourself and spouse after a hardworking life or relocate out of the country as the case may be. This is obviously when the kids are already gone to college and the nest is becoming empty.

Funmmyastic:
This post is even funny to the extent that I forgot to laugh.

post=82735972:
Something good and beautiful will come your way before the end of this month if October.
A miracle everyone will celebrate with you.

JUST BELIEVE!

KingOfAllIgbos:


This is the real reason I just can't return


Biko, let me manage my Bangladesh like that.

Divay22:
I'm a fan of car owner (back seat)
I no like disturb for this life way i come so. At least he go lemme stretch my body
But the only thing i won't take is when am inside and you ask me to come down and go to the back, Oga o, Home i go.

Gartol:
Supersport blitz and any other sport channels. A family of five, 3boys with Mom and Dad making 5. So technically we have four guys in the building. Mom doesn't do much of TV so we don't fight to change channels in my house

EkunKekere:
That Cameroonian pasta should direct his frustration at Paul Biya though Apostle Suleiman should have been more chill in his response

Daviddson:
Of course I believe this because I believe in supernatural powers. But atheists are not supposed to believe in the existence or possibility of anything spiritual or supernatural (despite it happening every day!) and it'll be turning logic on its head to do so by you. Are you not, because I know you're neither a Christian nor a Muslim ?

jayson87:
and the idiot will be the 4th highest goal scorer in serie a, despite having the best team in the league behind him

tukdi:
Op, tankew 4 this wonderful write up


This is front page worthy!


Based on the small power vested in me by seun,


I therefore, command lalasticlala to take this thread to the promised land!

omenka:
In addition to this, I suggest the FG kickstarts the process of completely washing her hands off sponsorship of pilgrimages to Mecca or Jerusalem or Olumo Rock.

Let people fend for their spiritual and religious needs by themselves.

fineboynl:
the guy was just quite. Might be quity though. The guy might have mustard the courage maybe the way she behaved sometimes like green light.

Its just her breast he touch why she is going crazy.

lilwetdick:
Nigerian Invents Generator That Runs On Water


https://www.youtube.com/watch?v=SaHC5sOmQJA

Young Nigerian Fabricates Machine That Converts Wastes To Energy

https://www.youtube.com/watch?v=6l8u_6qHDXs

Eye Witness Report: Gifted Nigerian Invents Flying Mini-Aircrafts

https://www.youtube.com/watch?v=LCzgfSrI9ZM

This Nigerian Creates Light With Potatoes !!

https://www.youtube.com/watch?v=UhERDZrDdCY

URINE POWERED GENERATOR IN NIGERIA

https://www.youtube.com/watch?v=eKfMWtJIgcs

These are some of the invention and they work, shame to our PHD HOLDERS

symbianDON:
the worst governor in Nigeria may be Yahaya bello or ikpeazu, I won't contest that but........all I know is that sani bello of Niger State is the worst governor on earth! if asked to list his achievements, I'm sure he's gonna be like this.....

swaggerific:
Nigeria is blessed with a plethora of natural resources. As if that wasn't enough, we also have enough human capital to lead ourselves. However, we've been having bad luck after bad luck when it comes to selecting our leaders.

I wish I could make this into a poll or a sort of online vote so it'll be easier for everyone to share their 2 cents. The goal is to hopefully help change the way our leaders treat us by shaming them small.

State Governor
1 Abia State Okezie Ikpeazu
2 Adamawa State Ahmadu Umaru Fintiri
3 Akwa Ibom State Udom Gabriel Emmanuel
4 Anambra State Willie Obiano
5 Bauchi State Bala Muhammed
6 Bayelsa State Henry Dickson
7 Benue State Samuel Ortom
8 Borno State BabaGana Umara
9 Cross River State Benedict Ayade
10 Delta State Ifeanyi Okowa
11 Ebonyi State Dave Umahi
12 Edo State Godwin Obaseki
13 Ekiti State Kayode Fayemi
14 Enugu State Ifeanyi Ugwuanyi
15 Gombe State Muhammad Inuwa Yahaya
16 Imo State Chukwuemeka Ihedioha
17 Jigawa State Badaru Abubakar
18 Kaduna State Nasir Ahmad el-Rufai
19 Kano State Abdullahi Umar Ganduje
20 Katsina State Aminu Bello Masari
21 Kebbi State Abubakar Atiku Bagudu
22 Kogi State Yahaya Bello
23 Kwara State AbdulRahman AbdulRasaq
24 Lagos State Babajide Sanwo-Olu
25 Nasarawa State Abdullahi Sule
26 Niger State Abubakar Sani Bello
27 Ogun State Dapo Abiodun
28 Ondo State Oluwarotimi Odunayo Akeredolu
29 Osun State Adegboyega Oyetola
30 Oyo State Oluwaseyi Makinde
31 Plateau State Simon Lalong
32 Rivers State Ezenwo Nyesom Wike
33 Sokoto State Aminu Waziri Tambuwal
34 Taraba State Arch. Darius Ishaku
35 Yobe State Mai Mala Buni
36 Zamfara State Bello Matawalle

My vote is 1: Okezie Ikpeazu. He's literally the worst of the worst. We are not talking about rocket science here oh. This guy won't even handle the basic things well. I don't even know where to start with him; poor roads, pot holes everywhere, electricity situation is poor, schools poor, security situation poor.

The agbaya won't even pay common salaries but rumor has it that he gets around N1 Billion Naira monthly in security vote! Shameful

My 2nd vote has to be #22: Yahaya Bello. I don't even know where to start with him. I tire for him.

Dreambeat:
What do you expect, madam.Your husband and his cronies have stolen all their money and probably their destiny too.Be glad that they are humbly asking you to give them a meagre of what you and your husband have stolen.In some places, it would have been a different ball game.In saner clime, he would have been cooling of his a.ss behind bars.