₦airaland Forum

[quote author=Voraxproperties post=41948952][/quote]is ogombo before or after ajah?

how far is the plot from the main rd?

darenyx:
8 units of 2 bedroom blocks of flats
.

hello bro

pls am ready to start this project ,

pls can u send the interior.

casmirjohn:
With 6m,you can get a plot of land in Ajah in a good estate that 2bed flat goes for 800k per year,with 12m you will build a good well ensuite 4unit of 2bedroom flat that will generate #3.2m for you year.
Call me;08159777608.
Ajah is where I operate

tnks, have u got any plots for sale?

pls post here.

chai, pple get heart oo

hmm

very sweet,

dear females, dont ever make a sexx video or send nudes to anyone oo,

things dont always end how they started

na only oyibo go value this kai thing,

my fellow africans are just thining about the antelopes they can hunt there

Ultimus:
I understand your need to defend the picture because you posted it. Look at a year after marriage, that condition is not ideal for sleeping for the baby much less the adults flanking the child. Where is the baby's colt? And the last picture is just plain wrong, all I see is discomfort and improper parenting.

Lol
the picture is abit exaggerated but it is very close to reality.

I went to see a frd whose 2nd child just turend 1yr old. I met the daddy of the the house sleeping on thr sofa in the living room , they live in a 2 bedroom house.
it took me back to wen my kids were very young . My husband And I will sleep on one bed at night, but wen I wake up it will be me and 2 children on the bed , so glad those days are over.

My kids can even knock before they enter our bedroom now.

phoenix480:
@bebe2

Based on your modified title, I have some properties within Ibeju Lekki (after Ajah) that suits your budget)

There are 6 plots of Land in Shapati, after Awoyaya. It is not far from the Pan Atlantic University.

It is going for N3.5million per plot. Call 08125978047 for more details and check out http://www.naijavillas.com/lands-below-n5million/ for more properties.

Ibeju is abit too far for my liking. Have only been there once, had to turn back half way.

Want to be as close to lekki as possible hence am saying Ajah.

jabojafa:
wooow.... 80pairs of shoes only you. And its wz frm ur hard earn moni.... I dnt even hv upto 10 sef.

U be man na, my oga own no go pass 15 max.
But the wicked thing is, u would only be alternating b tween 3 or 4.

Waste of money

dovelike:
Shoes!!!
Hope that's not all. Mine is bigger I no sabi where I go carry am waka again

Hm, I regret my over buying days, over 80 pairs of shoes and I no get big house

Mileencoast:
bebe I took the liberty to check some of your post and I can say from what I read you're looking to buying a land here in Ajah axis and build some flat..

before I proceed ocean or sea will never come and envelope the areas in Ajah...but I understand your concern believe me have been here since 1996 and we have not had any case of the ocean or lagoon overflowing-I bet you when Lekki phase one and Victoria island was still coming up critics will be saying victory island or lekki phase one will flood but now properties in those area are prime and the rent there is fat........

so getting a plot in Ajah axis range from 6M -15M on not to prime location.......the rent here is great

mini flat ranges from 150-250
room and parlour from 250-350
2bed from 450-600
3bed from 650-1.2Million


I saw some people talking about mainland,ikorodu,mowe,agabra etc
the rent in those area is nothing to compare with Ajah axis and the cost of building materia is same every where in Lagos........

so if the cost of building in those area is same with building here in Ajah and the rent is more here than there I think is will be wise to build in Ajah axis......

you spoke also about the nature if land every land in Ajah need filling believe me because its a coastal area and the land in Olokonla is not swampy but its not totally dry you will do little filling so the land will be at same level with the road...

As for the picture of the land you asked I think you come and see it your self....
and if you're bent on getting a point here in a jab axis let's fix an appointment where I take you to up to 6 different plot in different areas in Ajah already developed area where you just move in a start building and as for building contractor I people we use for some of the house we have built on sold...


I propose if you're bent on a getting a lot here let's meet and talk

Tnk u so much for ur write up, read and understood every word.

Now to the basics, I know it's not usually how things are done wen buying a land, but I have to be a little unconventional in thus process since I am not in the country.

From ur post u seem to understand my aim of buying this land, so wat I wud like is for u to lay out each plot.

Land location, how far from major rd ( maximum 20 plots from the main road )

How developed the area is, soil condition, cost of rent in the area and Some pictures.

Then I can seek opinion from others who may know the land before I send my family to the one I chose.

I know it's a big ask considering how things are done in ur industry but can't help.

Oh as for budget, max #7m gross

Looking forward to it

Africans have a long way to go

So unfortunate.

aariwa:
I am a legal practitioner.My candid advice. Buy a plot of land at okpanam area of Asaba Delta state for 3m.I can help you with genuine ones which you are still going to verify with ministry of lands Delta state. Engage the services of a competent building contractor like spyder88 of this property section forum.He has been doing excellent building constructions for members of this forum with and without supervision. Thirdly,for a maximum of 15m the contractor should be able to construct a two storey of six flats building with six self contained rooms BQ.The rental value of a three bedroom flat there is between 300-400 while self contains go for 150.If you add it up,the yearly rental value of that property after completion will be between 2.700m to 3.300m.On management. The first step which I hardly compromise is screening of all incoming tenants. As a lawyer we are used to earning our wages through carrying other people's wahala.Just donate a power of attorney to us to manage the property and go and relax

Tnks for ur time. Am only interested in lagos for.mow.

Mileencoast:
Is in Ajah axis just a few minute drive from Lagos business school..a well developed area.

Unlike what the other nairalander said its not close to any ocean or sea my dear..

And believe me when I say its a give away price,a great offer..

If you have any question or will like to see it yourself,please do well to call me 08061164526

Tnks.

Is it a dry land?
Can u post pics of the land and the area?

erico2k2:
3 -5M

pls how is omonile in PH?

i mean area boys .

erico2k2:
3 -5M

sounds tempting oo,

do u have any links for agents?

erico2k2:
PH is well cool trust me.I live and.work in the UK. I'm gradually relocating and I have chosen PH to settle.I have already started building if you go fru my post on my profile u will see the diary of it.off the east west rd U can get 380 for a 2 bed less BP unlike Lagos lol

how much do they sell lands in thode kind of areas??

erico2k2:
Buy to rent now carries it's own risk I the UK. Ja e yoy seen those shiny flats in the docklands ?all empty and sealed up.

those are not family homes na, only single pple wud want to live in glass houses,

my boys dey chisel brick walls, hate to think wat they will to those glass.

erico2k2:
Try PH.good revenue less wahala

i dont knw anyone there oo,

been there once in my life for 3days.

have a cousin-in-law there, but they too rich for that my budget

erico2k2:
Try PH.good revenue less wahala

i really like ph for a change, but i have only been there once in my life , spent 3days

i only have one cousin in law there, they are too rich to be bothered with my kind off budget

gabbytabby:
If you are buying land then it's better to look at ajah axis up to or before lakwe. So many low cost areas in the mainland, land cost is similar to that in the Ajah area while rent is double. Save for foundation, the build cost is similar.

It is better to build 6 two beds than 4 three beds. Rentals can have its problem especially if you have the wrong agent but you keep looking until you find the right one and get involved in the letting process. Avoid a tenant sympathiser let them get the tenant to pay them. Try to set it up properly from day one. Modify your processes until you get your good fit. I was recommended a real estate management co Diya fatimilehin if all else fails I will approach them cos they don't mess about you will be put out if you do not pay your rent.

Always think about diversifying. Some in UK or North America and some in 9ja. Even in 9ja have in the lsland and mainland that way you hedge your funds/risk.

ur first paragragh confused me a little bit, are u saying land in ajah and parts of the mainland are similar in prices but rents in mainland is double??

i like the diversifying idea, the uk will come last in my preference.

i really like atlanta, in time GOD willing

if u knw a gud agent, pls drop their link. tnks

phoenix480:
Personally I am not keen on the Lagos-Badagry area as none of the infrastructure is even close to completion. The 10 lane expansion shpuld have been completed in 2014 but hasn't yet hit 25% completion. The rail from Mile2 to Marina is also not close to been finished - all due to lack of funding. We hope Gov Ambode can resurrect the projects in the axis.

From an investment perspective, Short to Medium term - No, Long term - Yes.

i actually have a property in that axis, in agbara, opic area 5, but the rent there is discouraging, 150k for a 2bed bungalow.

and the traffic there is a killer. like u said long term, it wud be worth it.

seriously looking at the ajah axis, it may even be suitable for me and the family wen we come visiting.

You just wait,

Water will return to collect Wats rightfully his.

kristisking:
It is well with her IJN.

Tnk u, all others were praying and thanking God for themselves.

You were the first person to say a prayer for the her.

God bless you for that.

phoenix480:
If you want to buy-hold and sell property after several years, I would advise Nigeria. In the right areas in Lagos, you can get an incredible ROI after several years compared to the UK.

If you are looking at rental properties, please invest in UK or any western country (but not Nigeria). While most of my property investments are in Nigeria, it doesn't include rental properties. The reasons range from the stress involved dealing with tenants (it can lead to high blood pressure) to poor ROI per annum. On the stress part, my parents do not want any tenants for their two flats due to the negative experiences, they prefer it empty but with peace of mind.
On the other side, I believe you should earn at least 5-8% ROI per annum on your investment rental property. It can be difficult to achieve this in Nigeria when you look at the total cost of the House (cost of land and structure). However, if you are still serious on this, you can get some dilapidated properties for N20m and renovate or as someone suggested, perhaps the Ibeju Lekki axis (due to good property appreciation).

I currently don't have any four flats for that budget, see the ones around N20m here - http://www.naijavillas.com/homes-below-n50-million/. I could ask around for you are still keen.

That the issue am having with naija investments. Tenants can make ones life miserable. Gabbytabby comes to mind.

But I hate the way the govt invades pples privacy in the uk. They just dig and dig until u are totally exposed.

Tnks for the link. Those prices tho

How much wud plots in Ajah be?

And am hearing alot about ikorodu . Wat do u think?

jaybee3:
All income are liable to tax
It get's worse if you are already an higher rate tax payer meaning any income above a certain threshold will be subjected to 45% or there about tax

JV => Joint Venture (You partner someone that already owns a land to develop a property and sell-on on completion)

Yes you need to read more on property investment in the Uk before taking the plunge. The government is trying to regulate the housing industry by ensuring buy to let's aren't seen as a money making machine in order to:
1) safeguard the real estate from impending catastrophic crash
2) free up houses for genuine tenants

UK n regulations sha,

Goin to look up the JV thing.
But partnering with a nigerian, a stranger for that matter, if they know u live abroad won't they try to take advantage?

Typical nairalanders, off all he wrote only the iPhone grabbed ur attention.

Anyways, thank God I don't use ear piece.

jaybee3:
You haven't factored the following into your projection:
1) Repair costs due to constant/consistent wear and tear
2) Tax changes coming into force this year. Income from your investment properties will be taxed at higher rate if you are already in that pay band
3) Rent is not guaranteed if you ever get DSS tenants
4) Property might be left empty for a considerable amount of time


Having considered the above, i still think UK property investment is a low risk investment option and should only be considered if you have a low risk appetite. I don't expect real estate assets in the north of england to appreciate as much as south east/west England.

Another thing you can consider is leveraging the properties instead of buying cash as this will allow you gain more financially whilst saving on your tax liabilities going forward.

I was in the same dilemma and i've chosen the naija option via JV.

Hmmm. This issue needs careful consideration on my part.

And the tax on rental property does dat apply to everyone? Will need to go do some research.

Pls who is JV?

jacarantha:
26m can get you a block of 4 nos of 3 bedroom flats @ Ajah area, and rent is like 550k to 650k per flat.

30m can get you a block of 4 nos of 3 bedroom flats @ Aguda/Surulere area, and rent is like 800k to 900k per flat.

Ironically I was thinking of buying in Detroit or Florida to diversify out of nigeria.

I was playing with numbers this evening, and I really considered the uk.

Lets take the 26m figure if I divide it by 360 dat gives me £72k.

I can buy a beautiful 2 bedrooms house in the north of England for 70k and get rent of £550 -£600.

If we use the 550pm figure, I can get my money back in about 10.5yrs.

If I apply same to the Ajah property, I will get my money in 12 yrs.

And the uk own is less stressful, tenants know wat to do, they loose their job oo, their wife runs away oo, u will still get ur rent paid.

Unlike naija peeps dat will use the slightest excuse to avoid paying rent.

As for Detroit and Florida not too sure, but I hear atlanta is very gud if u looking at the US

tuzle:
how many of ur neigbours hav u helped?

Plenty, plenty
As my power reach,

If no for neighbour wahala I for don stop to wear costume jewelry tay tay

Choi, see money miss road ooo,

Was it nto the same jesus that said how can u claim to love me that u haven't seen when u dont love ur neighbour that u have seen?

Thousand of hungry, sick and frustrated pple are in that community oo, but guess wat is this man's priority, a carved statue that no one is really sure of.

That cud be d image of lucifer, no one knows.

berepiki:
...

I employ Christians because I want teachers that share the same biblical principles like me... This will enable us convert unbelievers to be believers of Christ even as we run the adult school...

GOD'S Kingdom is my ulterior motive in everyfin I do... I partner with God and that's why I see progress...

Buh Muslims n non-Christians are free to enroll... The school is meant for unbelievers...but strictly Christian teachers... You know you can't give what you don't have...

Don't forget I'm an evangelist

Watch this space, from there op go turn the school to church.

Na just to pack re arrange the chair every Sundays , change sign board.