₦airaland Forum

Mileencoast:
good land in good location is between 5 million to 10 million.. if you step up to 8 Million you will get a better land and you can start building immediately so you can be recouping your investment

bebe2- did you see the number below in my signature that's my number and its on whatsapp, you can call me or chat with me that way I give you answers on all your questions and address your concerns on real time and instantly.....

need to save up more,

will get ur number

Mileencoast:
no where bebe2...but half plot yes..

bebe2- sorry to ask is these 4M a budget thing or you just can't step up a little bit,so you get a plot here in Ajah axis-Ado badore road ...

How up shud I step?

I want something nice but my budget is limited. But I can be tempted if it's mind blowing.

Mileencoast:
@bebe2 @brabus......... you can't get a any plot for 4 million in Badore area...for 5 million you can but it will be far from the road... but with 8M, you can get something to too dar from the road....

#Note these areas are developed already people have bought lands and built on it.

@bebe2 let me point out something to you- in our last conversation you spoke of 20plots from the road believe it will be hard to get in Badore area except maybe someone that bought earlier decided to sell his or her ...

Above all once its in these environment except maybe you want to build your own personal house but if you're building to rent all you need is to build something standard,with great finishing but inside the house and outside and you will rent it out for a substantial amount.....

p.s in Badore area there is a mini flat going for 500k, caution 50k, agent & agreement 100k and its not close to the road.... why because of the standard of the house

So badore is dat expensive??

Ok, where can I get a plot dat Ajah axis Dats not far from the road for 3-4m?

Maybe a distress sale etc. I need it asap.

[quote author=sam13 post=42090027][/quote]lakowe too far oo

anything closer

Chekitaut:
From a different angle, MUST IT BE LAGOS?
Consider 2plot of Land close to a good higher institution, Like FUNAB, OOU, MAPOLY, TASUED, to mention few where land is not up to a million. Build barracks , Barrack no dey empty is a year thing.

Building is cheap ass in cheap in Abeokuta, Ijebu Ode. Walahi
30tons sand is 55,000
30tons Granite is 80,000
Cement 1,300
Bhole may not be friendly 250k-300k
Iron rod too cheap
only your fit-ens will be cost you more because of transportation from Lagos

Lol @ barracks, the reason why i say lagos is becos Dats where I know.

I have tried benin and it didn't work out. I really don't mind hostels close to higher institutions but the hassles dat come wit it and it's management.

Land flipping will be it for now.

amanikondo:
You can buy where you are and still make money. You buy a small property that can be easily rented. Property market may crash like 2008/09
but rental does not. In fact when it crashes again, rental will increase. A friend has small rental apartment that cost around $65,000 it brings in $800/month After Tax and fees. $800 X 300 Naira= 240,000/month.

The whole thing tire me.

Still Looking into all options , the uk will be my last resort.

gabbytabby:
Bebe2 while any business in 9ja is not for the faint hearted you need to do your research and get things properly set up from the get go.

Why would you have a tenant in your home not paying for years if a tenant does not pay at all by 3 months we set the ball rolling.

Diya Fatimilehin and co are strictly real estate and the information I get is that they issue a yearly tenancy and 6 months in they issue notices as standard and 9 months in tenants wishing a renewal write and pay for the next year and those who don't pay have the bailiffs waiting at the end of the year certain.

The other problem tenant that I had got away for that long cos my focus was on finishing the project.

There are other ways of dealing with issues aside from the courts and when you get the right agent its less of an issue cos they have been there and done that.

dats reassuring , becos that issue with ur tenant really gave me nightmares.

cant deal with stuff like dat.

think land flipping will be it for me at the moment.

brabus:
Can I get something for 4m or 5m in the area?

@bebe2

U mean in badore?

4M is ok, but it has to be close to the main road.

sam13:
Which area on Island do you prefers Ajah or along Ibeju Lekki.

You can get more than a plot with what you have #6m
Call 07038462492 for more information

I want Ajah,

If u have anything pls post it here.

collinsz:
please bebe2, i will like to have your contact, if you are on watsapp that will be much preferred.

Thanks.

08033260602. you can chat me on watsapp.

Pls can u lay it here for the benefit of all.

ifyalways:
@OP, 1 plot of land @ Greenvile estate, Badore @ 5M. Go for this if you want to build. Rent is 1M for 3 B.D.

1 plot at Harmony estate Badore @ 3M.
1 plot at Abijo @ 2.5M.

Go for the last two if you are into land flipping.
Direct briefs from my omonile friend. Don't waste your money on mainland abeg unless it's places like Ikeja GRA,Magodo, Apapa GRA or Ogudu GRA which are unfortunately sold out or super expensive.

Aunty ify, u just put the fear of God in me by mentioning omonile

Do they also operate in estates?

Is badore before or after thomas estate? Dat ba where I know rd reach o

euromilion:
Brabus made a lot of valid points,well and good in a sane country,but see,Nigerians are very wicked people,they are constantly thinking on how to do u out of pocket.many will pay first and second yr rent and then from there onward na beg or court order will be the next thing,before you know it 5yrs has gone,you never get any rent,before u come one day u go hear say the tenant when dey owe u 5 yrs rent don move into his own new house which he built with your rent money,then u start again from square one wit a new tennant from where u stopped wit the old one ,I can go on and on.

Talking of crash:
Crash is a good thing for cash buyers,best time to buy is after crash which is now.let me tell u a little story,last yr I went to view a little cottage which was going €90k,I was pessimistic about it,I went back a week later it was gone,today that cottage is selling for 210k,if to rent it out u'll be €1200-1400pm,so check it.

Buying land and holding to sell(land speculator):
It's a good idea,but not for faint hearted person,because you will surely come across one or two that will go wrong,and if u are not careful it may cost yr life,especially in Lagos,buying land in any Nigeria City is always a risk.one new governor may come into power and before know it he ll say all gov consents are revoked like joke like joke he'll send army to kick everyone out.

Nigeria judiciary are not strong,they don't uphold the law,any investment in Nigeria is disaster waiting to happen.I can go on and on,although my main issue is that ROI in nig is very poor compare to the risks.

Yeah, I knew it was the rent issue that discouraged you.

I followed a thread here a few years ago , think it was gabbytabby and his/her tenant.

And from there I started to fear nigeria tenants, the way the tenant frustrated the landlords efforts and totally ridiculed him. Stuff like dat scares me, don't want stress in my life.

As for investment here in the uk, if I have £70k cash then I will definitely opt for a terraced house here.

I have also thot of Spain, but not sure how rent issues work over there but I know properties are much cheaper.

money has a way of disappearing from me if I don't lock it down, so need to do something asap.

Think I will go for the land flipping for now and secure all my other landed properties.

The plan is to move back to nigeria, Spain or Florida after retirement, wud prefer naija but with the current political climate , who knows if there will still be a country to retire to.

brabus:
If that's the case, you should do more research Aunty. Building aren't fun as you may have realized. As a matter of fact, we need to have a concrete business plan before setting any stone in mortar. Just as you're doing it now. It's not good to get midway and start asking for directions.

A lot of mainland investment are overpriced. They yield little returns (don't mind me o but I'm for quick returns). I can still imagine less than 1m rent in surulere when new areas in Lekki gives even more.

________
As per land discussion, I don't know much but I can tell a good land from bad one using all the key indicators. I have one or two deals that I've locked down in Ibeju for 1m per plot but I'm still researching the land. Good location and very close to the Lekki/Epe expressway. Just about 3 mins drive. And walking distance to ARM Beechwood Estate. One could actually survive without raft foundation in the area.


________
On a light mood, wishing you a Happy Birthday in advance! May God bless your new age. I happened to have a sister who's hitting that new age this year also.

to be honest with u, not in the mood for building atall.

wud rather buy a few and secure it.

help me be on the look out pls.

thnks for the birthday wishes, still have a couple of years to go sha

hello house,

pls i need an investment plot of land in a gud area of lagos.

wud prefer something on the island, but wont mind mainland if the area is good.

budget is #3m-#6m.

tnk u.

brabus:
I don't have any in mind yet except you want to go for land flipping. Buy, fence, do documentation, keep for 6 months or more and sell off.

However, I'll keep my ears to the ground and let you know if there's any good offer.


__________
I knew of a place around Lagos Business School (LBS) (which is also a good location if you're considering mini flats for seniors especially LBS/Pan African University students) within that budget BUT I won't advice you on something that'll cost fortune to build. The land is on the receiving end of a steady slope. Slope ain't good o.

i dont mind land flipping, just want to lock my money down in secure investment before it all evaporates.

even if its somewhere on the mainland. my budget is 6m, if i can get 2 plots in different areas, one dat wud be sold later
the other cud be our future family home.

brabus:
Open a new thread "Urgent Request: A Plot of Land (648sqm) in Maryland Estate Badore." Put your budget and let's see how it goes.

Ok, gud idea.

Are there another areas I shud be looking at so I don't have all my eggs in one basket.

brabus:
@bebe2,

Have you considered Maryland Estate, Badore. 2 bedroom flat go for 700k, 1 bed is 500k and you can have 8 units on a plot.

Land still sells between 6 - 10m in the area and the occupancy rate is higher.

I'm not an agent not canvassing for business. Just an advice if you want quick ROI. Building is not just saving cost of materials but getting good ROI.

Why will you choose Ogombo over Maryland?

Cost? You'll realize your extra spend on land within the first 6 months.
Neighbourhood? We won't be fair comparing Ogombo with Maryland where there's better planning.
Security? It amaze me that there's less of Omo-Onile issues in Maryland unlike Ogombo where it is their main business.
ROI? The most beautiful 2 bedroom flat in Ogombo will go for 400k at most, whereas the most ugly 2 bedroom in Maryland BADORE goes for 600k.
Infrastructure? Why invest in an environment where you can only leave on empty promise? Govt will fix the road in XYZ year, bla bla blah. The road in Maryland is one of the best road done in any residential estate I've seen around that area and it is well managed with dedicated generator powering the streetlights everyday.

The biggest mistake starts from location. And choosing a good one. A good location is a sell on its own whether here or abroad. We need to always ask ourselves this question "3 years from now, will I want to live here myself?" "Is there a better choice?"

A good house in a wrong location is a bad investment. It cost almost the same figure to build in Lekki and Iyana Ipaja but the rent is incomparable. ~ Brabus.

Happy Hunting!

________
Good Scenarios

1. I've built a 3 apartment house within a year for someone here for 40m, land, fence and documentation cost additional 10m and the first year rent alone is 7.5m which means she will recover her fund in less than 7 years. Within the first 3 months, rent per flat has gone up to 3m which means she's getting 9m next year excluding maintenance fees.

2. I've built a 3 unit lockup shops and a security house for a client on here for 1.2m in a location on the mainland and the rent is 60 or 70k per annum. Meanwhile, a similar shop built on almost the same budget in BADORE road goes for minimum of 300k per annum for each shop.

Property investment is cool in Nigeria but people actually pay for the location than the actual property itself. ~ Brabus

U see, here lies my problems, when u say Maryland, first thot was mary land near osho di, until I saw badore.

I will research on the badore , pls I need suggestions, am not a lagosian which makes things even more difficult. If u know ant gud area that is clean that I can invest in and cud also suit my family needs wen we visit pls do let me know.

I know u are not an agent but little pointers in the right direction wud help.

And u fit even help me build am sef

arbitrage:
Okay, since you do both directions, how much if I'm giving you dollar while you pay me naira? I'm looking at $10k per day maximum.

cant do dat much volume.

my usa market aint that big.

mainly uk

phoenix480:
OPIC stands for Ogun State Property and Investment Corporation, they have numerous projects/sites.

As for Lusada/Agbara/Ota for rental property - the yield is very low. For Land Speculation - its ok, not spectacular. Even Ikorodu delivers better price growth due to the newly completed road. The 10-Lane Badagry Expressway is a white elephant project for now, with an inconclusive end date. Its not even 25% complete with stalled construction activities due to lack of funds.

totally agree with u, my 2 bed bungalow rented out for 160k.

think is better to buy land and leave it to grow, this building thing makes no sense.

arbitrage:
At what rate would you convert my naira to dollar in the States?

depends on how much u exchanging,

rate about N318 TO 1dollar

euromilion:
I think we both share the same sentiments,if we die today our properties in Nigeria will be taken by relatives that didn't know how we struggled to achieve whatever we had,(God forbid).

To me it was a big a mistake investing in 9ja with little or no return of investment,my property over here is performing better than those in 9ja and beside I don't see myself moving back 9ja nor my kids.

Anyways,research ireland and ask me questions if you wish,but I guarantee you that your investment will perform better here than in Niger and with peace of mind too.you don't have to partner with me either,am sure will know one or two persons in ireland,however you can buy Ryanair flight to ireland for as low as €12 to ireland from uk.

Just do your own search,you be glad u did.

even uk is very gud for property investment,

but when crashes happen, or they decide u have back taxes etc then they start to bleed u dry.

i even thought of america, still not sure wat to do.

what issues did u have with nigeria investments, non payment of rents?

how about buying lands, fence and leave it to mature , then sell it on.

twinskenny:
NICE ONE

when i saw the topic... i wanted to say why dont u come to lagos ibadan expressway
i stay around OPIC. there are so much estate springing up here from opic down to redemption camp and trust me RCCG is really opening up alot of big opportunities here..

Good luck ma

slowly slowly am begining to realise there are two OPIC estates, the other one is in Agbara, badagry
express way.

euromilion:
Hahahaha,instalment?how do you mean?.

To tell you the truth am not into selling properties,just that am sick of Nigeria investments,I'll not invest in that country again.

I have decided to dispose my three properties over there and never to put money there again.

If you have such money to invest,I'll recommend you come to ireland,properties are doing well here,I can partner with you if you want.

However,if you are really serious about Lagos property,make me an offer and we can take it from there.

bro pls share ur experience, i live in the uk and have thot long and hard about this,

i deally i want to invest where my kids can have access to it and i can have daily knowledge of the happenings.

but the uk govt and its system frustrates pples effort.

i really dont feel like investing in the uk.

bettercreature:
You will get screwed at last go to agent in Lekki or Ajah if you need help! most of the people on here don't know anything about building,i can help you to build 8 flats of 2bedroom each with less than 20million in ibadan which will generate you 1.2million naira,the one i built in ibafo is generating 2.4million naira,another advice is,if you actually have 20million naira cash please go and build hostel,i can help you to build 30 standard self contain to generate you 3million naira

i also want something where we can stay on vacations hence am saying lagos.

the hostel option seems tempting, but it has its down side too.

and a lot of hassle with students messing things up but i hear

getting rent is not an isuue sibe they pay before moving in.

which location are u thinking with the hostel.

BE811APP:
are u in canada?

no, just uk and usa

erico2k2:
Madam how much B unu rate I hear say E reach 385 na true?

Yes oo, but na 375 I dey do sha.

It's climbing but no 385 yet.

olumide4christ:
With this statement, you're really one of a kind of woman. That's the way to go- in life, some things are just more important and critical than others!

God bless and strengthen your resolve!

Grey hairs don dey stick out oo,

Need to plan for future. Kids born abroad don't know how to financially look after their parent.

Was telling my 9yr old son dat he shud do well in school so he can look after me , he replied, " But
How can I? Am going to have my wife and children to look after, daddy will look after u, he has money"

I was shcoked, my husband was on thr floor laughing like no man's business

kaflex:
Fully developed u can get the pictures via what sap

ok. tnks

is the area developed ? is before or after thomas estate.

true2home:
Hello Bebe2,

I have a feeling that your flats in Agbara Opic are occupied and you are pleased with the area. Please advise me of your experience in terms of demand for accommodation in the estate. I have a 100ft x 200ft lot in Area4 that am in the process of making a decision on what should go on the land. Going home in two week to do this. Thanks

hi, yes they are occupied. it didmt take long to get tenants, but the price was quiet poor.

160k for a 2bed bungalow.

i think u need to ask locally about the demand and price of properties in ur locality.

dont ask friends or relatives, just go to a letting agent and enquire.

this sounds very good,

but with the property earning N1,050M per annum, why is d price so cheap.

beansandgarri:
Amen.God bless you too. [/b]We shall not be distracted by unnecessary things instead we will leave legacies for our children.Amen[b].

amen ooo, 40th birthday party so tempting but i refuse to be distracted.

this money must go towards a building project.

all aso-ebi will be rejected

need to focus