₦airaland Forum

hotmas911:
Sir, there is more to building and selling blocks of flats than we know. It's just very few people that can outrightly pay for a finished house. Most developers sell on instalments. That is why you see them always making advertisements all over the media. You also have to consider how much they blow on that.

Another wrong assumption. They developers sell to the bank who in turn sell to the end user in form of mortgage. Developers won't tie thier funds for 20 years banks can.

Chinom:
My reference point was Lagos. Don't know about PH. You can that kind of rent in Magodo or Ikeja, Allen/Opebi axis. But an empty land is in the range of N15 to 20M.

There are many viable ways to turn your money over quickly.

Ok fair enough regards income from rent
Check this narrative
A Medical doctor will gain more in his return on investment if he builds a hospital than a business man who builds one.Property Biz is oneof the leading from of biz in the west.we keep forgetting the equity ur house holds. That's one major factor.

chigoizie7:
Aside any other thing u said. Why are we always over pricing things in nigeria?

That 3.5 million can't get a decent 3bedroom flat?

Bros, maybe u are part of the people that spends money anyhow.

I might not have built my own house, but I have handled others, believe u me, I know better. A 3bedroom double flat fit for people to live in, I know 5million did that comfortably. So, why can't 3.5 do a single flat?

Ok try and go step by step how yoy gonna achieve this. Cost of land.labour materials etc.
My foundation of 1 bed flat 2 bed flat (storey building )and 3 bed duplex cost in excess of N3.5. No joke

Chinom:
It's a good investment if you are lucky to live up to 100years. Personally ,I would never tie my money down for so long. Property business is something you should invest in with real idle money. I mean money you don't know what to do with. That's why banks are the biggest investors in real estate.

@Olumide4christ; the cost of land at those places where the rent is 400k to 900k for a 3 bedroom bungalow is in the neigbourhood of 15 to 20million. So by the end of the day, you are back to square 1.

To your 2nd paragraph. I would say wrong cos in PH you can get N4M land and still charge that much.mine is that range

seunt4ut:
I never heard of that before but I I just google it and I will like you to read through this below text.

Public housing in the United Kingdom provided the largest proportion of rented accommodation. Houses built for public or social housing use were built by local authorities and collectively known as council houses. Before 1885 housing for the poor was provided solely by the private sector. Council houses were built on council estates, where frequently other amenities like schools and shops were provided. From the 1950's blocks of flats and four storey maisonnettes were built, often in mixed estates of flats and houses.
Council homes were built to supply uncrowded, well-built homes on secure tenancies at reasonable rents to primarily working-class people. Council housing development in the mid-20th century included many large suburban "council estates"[1] and numerous urban developments featuring tower blocks. Many of these developments did not live up to the hopes of their supporters, and now suffer from urban blight.
Since 1979, the management of council housing has seen changes. Housing stock has been sold off through Right to Buy legislation, and new social housing is developed and managed by housing associations. An estimated 17% of the UK population still lives in council housing. Approximately 55% of the country’s social housing stock is owned by local authorities (of which 15% is managed on a day-to-day basis by arms-length management organisations, rather than the authority), and 45% by housing associations.[2] In Scotland, council estates are known as schemes.

Noted I live in England so I know what I was talking about. You actually have the right to buy a council flat or house if you have lived in one for more than 3 years.

czarboy:
. I agree with hotmas911, I don't have to be on the farm to supervise, I can have a farm manager that will give me report on a daily basis(that means am a boss) and I can inter crop with other short time crop that will take care of farm expenses, salary etc and still have leftover

Then you have to pay the manager. Extra to ur overheads

hotmas911:
@ Yak, we can always learn from eachother.

An example of worthy investment is cashew
plantation. Check what
4.5million will yield in 16 years on a rental
property compared to
cashew plantation in the same period
A) Building a 3-bedroom apartment in a low-
cost area
Building cost--Approx. 4.5million naira
Average yield per year---250,000naira
Time of cost recovery----16years
Returns in 16 years----1 old apartment and
4million naira
B) Investment in Cashew
Land + cultivation------Approx. 181,000 naira per
acre
i.e. 4.5million will guarantee minimum 24 acres of cashew plantation.

***Starting from the first 4months, returns will start coming in through intercropping with short term crops like grains, vegetables or some selected tuber.***

cashew itself starts fruiting in 3years
1 acre of cashew will yield average of 600kg per
acre annually i.e.
14,400kg in 24 acres
Therefore in 16 years, it will yield 14,400kg * 13
which is 187,200kg
(approx. 187tons)
At the average price of 240,000naira per ton-----
187tons in 16 years means 44,880,000naira
So tell me a rental property of 4.5million that will
yield over
44million in 16 years i.e. over 2.8million annually
as returns.

Note: This yield is aside from the short term crops of the first two years.

I see your point. But let me also say.you forgot to put in the actual overhead cost.
Risk factor
Anxiety
Environmental factors
Buyers.
Sturdies have proven land never depriciate in Nigeria

Elijahrona2:
What's the gain in it? 15 good years

It depends on how much you have to invest. 3.5. For a land won't give you high returns .you need min 5M worth of land. Cost of building the house would still be same from Lagos to Bayelsa.

seunt4ut:
No I don't agree with that. There's no where in the world where government engage in mortgage biz. I think it should be more of private sector with good portfolio with government plan and standard. Government don't build.however, they set standard.

This is misleading.they actually do.check what the UK govt is doing regarding housing. Where do you think the term council housing came from? Government here are building new and affordable homes

reflx:
nothing beats land and property in my opinion though.
less stress in the long term, first solving my own housing problem then creating housing solutions for others.
you can buy and build, or simply buy and hold to resell.
i know someone who bought a land in port harcourt for 900k like six years ago and sold it last year for over 20M.
no sweat, no headaches, or supervision etc. our population keeps growing and so communities will keep expanding, development improving and land costs in or near the center still increasing. though it is speculated to plateau at some point, real estate for now is a long term wealth spinner while you focus on your day job and still get paid.
except you have a passion for solving the food problem...again as our population increases we have more hungry mouths.
my 2 kobo

The UN reported that the housing deficit in Nigeria is up to $20 billion

Elijahrona2:
It's not a business. It's just a lifetime (unending) investment

It is if you approach it with a business minded individual's attitude

TruthHurts1:
In places like Lagos, Abuja and Port Harcourt it is an investment that can make you very rich.

That's correct, truth does hurt though

yak:
Fellow Nairalanders, av bn thinking this in my mind and I decided to throw it open to the public: does building a commercial house especially residential a competitive investment judging by what u spend building the apartment and what u eventually get as rent.
for example, u spend say 3.5m to build a 2bedroom Bungalow. on a rent of 200k, it wil take 15years or so to recoup meanwhile I estimated that rent may go up every 5yrs. So, lets look at it 2geda

The title you gave in your post does not correspond with the narrative in ur example. Commercial properties are non residential. Ie shops and offices. If that's what you are asking then yes.it's highly profitable but.bug but.it must be in a choice area.that figure you quoted up there will not yield even a foundation and dpc level of a 3 flat@2 bedroom. What I have discovered over the yrs is that building cost is almost same across Nigeria however its the cost of land that differ.So invest in high yield areas then you are guaranteed high returns. If you have Mega buck then you can build and sell that's more profitable

mufutau55:
Now you see why I said I like natural compaction? Even excellent manual compaction can miss something.

Hajji M.

This is the reason I went with the sharp sand filling,that mud can fall your hand I swear

KINGinVAHALA:
Ohhh. Staying in a hotel all through? Well, its your choice. For Siluko, the road is motorable. Govt are even presently working on the upper part of siluko.

Yeah, i wont lie to you on this. the electricity issue is just damn frustrating. Sometimes you would have light for a large part of a day, other times you wont get even a blink of bulb. You re Bini?

Guy are you not at Oghara Junction yet?

SirShymexx:
Why do you need servers to run apps and online services? Aren't there reliable ISPs in naij, regardless of the speed?

And for domains - you don't need to register to naij based domain servers (that is if there is any).

Creating one for fun is a total different thing from using it to make MONEY, now that's serious Biz.
if you run any type of biz that needs records and storage of any kind of data that you will need access to asap then you will have server however small it may be

Chinom:
You still have not told me if the damned Obi smartphone is Igbo made or not. I'm waiting. Mr. "Like mind"

wahala dey sleep yanga won wake am up

KINGinVAHALA:
Ohhh, you even reside in UK? How come you were in Benin last year? It kinda seem you re from Edo or Delta State?

Original Safarian right here.So like this I don't need Visa to enter BC nah abi

FBS:
Lol. Abi. Servers running on candle.

ahaha

Bre:
I feel so much safer in any major city in Nigeria than I ever would as a black person in any of the US cities. Talk less of places like Alabama, Missouri, Kentucky etc.

Ok Ply try and walk through Ikeja under bridge 1Am,come back and tell us your xpirience,I understand what you mean by feeling safe in that context however sadly we are not there yet in Nigeria there is nothing like community safety as you got in the US and Uk we are way far from feeling same level of safety

FBS:
My friend please shut up. You don't know me and I have no idea who you are and aint interested. Where in my post did you see me talk of government or that you need all the power in the world

How hard is it for you and comprehend simple statements properly.
You need Constant power to run an IT business. If you don't know now you do.

We forgot the servers here lol

KINGinVAHALA:
The problem with we blacks is Fear and Dont wanna DIE. Till yesterday, i most times still walk the city of Benin even at 12am midnite. Not because the city is secured, but because nothing frightens me.

Guy relax that benin where shops closes @10 pm?? ,I was there last year.Talking of fear why wont one fear, life has no duplicate,walking in ur hood is tottally diffrent from driving outta town like I stated,I can drive from Brighton to Hull from 2Am no police check point,no% of fear from armed robbers, oyah try go sapele rd and stop to wee at oghara junction, come tell me wetin U see

GideonG:
Nothing gives me joy like building things using the latest tech tools. I want to mentor many Nigerians on coding and technology entrepreneurship, more people needs to learn how to build web apps and mobile apps among other things. It's my responsibility to have them becoming passionate about this, and be enthusiastic of technology advancement.

Any ideas on G-codes?

PapaBrowne:
Interesting piece. With the epileptic power supply in Nigeria, you wonder why our roofs aren't filled with solar panels.

its not that cheap yet, but we are getting there, remember in the 80s and early 90s,Generator was a huge deal.

KINGinVAHALA:
As humans, we most times lost battles not because we aint strong or powerful enough to win it, but simply because we have already put a sword with our hands to our minds and mindset.

Nigeria is without doub safer than lot of western countries. Though where you plan residing in Nigeria also matters alot. Where do you have in mind? Lagos or Abuja or Borno?

I disagree on that Oo big time, name one safe city in Nigeria where you can wake up at 2AM and decide to drive to a next safe city
In all of the western countries, you can do this without blinking an eye lid.

Bre:
Source: https://www./11-business-opportunities-africa-make-more-2016-john-paul-iwuoha?trk=hp-feed-article-title-share

I think #9,10 and 11 would make wave in Nigeria.

kennysteve77:
Fellow NL, I'm glad that I'm sharing this experience with joy because they did not succeed. As a Web Developer, I developed a business website and the client was satisfied and decided to pay me in dollars. I called a BDC operator who I once did business with and he told me he would buy at N295 per dollar. I also called a friend who gave me another person's number and that one told me he would buy at N314 which I later negotiated to N319. This guy is a lawyer who operates his Forex business inside an office at the Lagos Airport Hotel. On getting to the entrance, I met many other agents and I decided to find out the going rate. One agreed to buy at N340. I was very happy and told him I had $500. He immediately calculated it to be N170,000 and brought out a bail of N1000 notes and also signaled to a colleague for the balance of N70,000. He counted the N100,000 while I watched and he gave to me. I counted AGAIN and noticed it was N99,000. The first pointer to me was that as slow as I was while counting the N100,000 given to me, he did not finish counting the remaining N70,000. He was questionably slow and pretended not to be looking at me while I was counting. Immediately I told him one was missing, he collected the whole bunch from me and decided to count again. He also counted 99 and then collected N1,000 from his friend and added it to the 99 notes he already counted. He handed it to me and asked me to put it inside my pocket. Surprisingly, his friend re-echoed it so I decided to count again because I could feel that the bulk had been halved. Behold, as I started counting, one of them just snatched the whole bunch from me saying he needed to return it to the bank that gave them incomplete notes. Then I confirmed my suspicion and took to my heels. They followed me begging that they would bring a different bail but I kept walking away. I then returned to my gentle self and called the one inside the office who actually invited me before covetousness decided to take over. Though I changed it at N319 per dollar, I'm very happy that some hoodlums are not drinking beer and eating cowtail at an Ashewo joint with my money this evening...

Lucky xcape

olusola2bello:
The way you guys fight over APC and PDP, one wonders if you are paid to do so, many of you are looking for jobs or better jobs, some hustling for daily bread, rather than network and see how to better your lives, you insult yourselves. Yes, the PDP had a very poor record in governance, but after 9 months in power, its time for the APC to stop the blaming and get down to work. I voted APC because I wanted change...time for us to start reaping the benefits. #wailersstopwailing #ApcStartDeliveringChange

ahaha I like ur stand, on the fence, but you know the situation in Nigeria doesn't give you teh luxury of being on teh fence, you got to be on one side ahaha,that's wassup

mynd1:
It's better to be a cattle rearer than a drug dealer and ritualist . Hatred is written all over ur ugly face. Go sort urself out n thank me later. Mtcheww.

from what I have read in the news, I can boast that I'm not from any of the group of Nigerians who indulge in any of teh vices listed by you BUT YOU ARE FROM ONE OF THEM.

obailala:
So because two roads fall in the same state or go over the same river or link 2 states, then the roads are therefore the same?

Not at all Sir, I want to know if you truely know the locations of both bridge and you aint guessing,cos from ur last statement you said they are not in same location.So I repeat myself,waht location then?

charly4tex:
Dear please, remove 2 n 9 East - West Road, that road is more than 20yrs, up till now is not completed, I live along there.
I believe d problem we have in Government, is d issue of continuity.

guy no vex oh, but what part of the east west rd are yu at?