₦airaland Forum

Please all you NECO, BSc, Masters and Doctorate holders should take note - the correct phrase is Live-in Son in Law

Nihilist:
Choiiiiiiii

I know the way the system works though, but just the recent announcement of stamp duty increase and staggered reduction of tax relief for BTL properties dey make fear catch me sef(not like I'm in any position to invest anyway)

I understand the way the system works. Infact that was why we were able to get our crib so cheap. The owners had remortgaged their property to build it as a luxury care home, but their plans got scuttled by planning permits. Then because it's a village 20 miles from the nearest town, nobody wanted to buy and they slipped into negative equity. They put tenants inside but those ones lost a job, stopped paying rent and started claiming squatters rights. They were extremely desperate to sell and so we exploited that a bit.

Mehn good luck in your endeavour bruv. Im still observing the system and will see if Its conducive to enter for me in enter in a few years.

Yeah George Osborne made it hard for BTL. The play now is Capital appreciation not yield, hence London. If the play was yield, Manchester too jasi. The yields here are amazing and barrier to entry is very low.

Nihilist:
LOL

Shey you go carry your family go live for ghettos like Stevenage and Luton as a London based professional?

Na slumdog BTL model fit all those places, not buy and sell.

Catford is still London London na? Catford to Lewisham is like 15 minutes, and from there you can access Bank in the City or Canary Wharf by DLR in 30-45 mins top. That's prime real estate. You need to be a chairman to buy there.

Ditto Cheshire where all those footballers dey live.

Mehn if you're prospecting in those areas, then I must hail you sir.

Tiri gbosa.

All na equity borrowings, not cash, you know how it works. I go enter Catford this 2017 with my brother on 50% BTL.

Catford, you can still get 2 bedroom for £250k or 3 bedroom for £350k. In Lewisham it is £450k and £600k respectively. So there is enough upside there just as Lewisham trended closer to Clapham. Plus hippies just moved into Catford which only means one thing.

Stevenage wey you dey laugh, my guy entered Stevenage 2.5 years ago and is on his 3rd property there just off capital appreciation. His first one was up £50k within a year and same for the 2nd one, so he just borrow dey go dey add more. And there is still upside there compared to other commuter towns.

airmark:
I did, but received money on monday for a 'ph' i made last thursday. Still have 60% of my investment in the mavro. I tried to GH, they are showing 0s. I couldnt proceed.




Sorry seeing it late . i am giving heerenven x2 at 1.40. I mostly play weekends.

Airmark you sef dey do MMM?

By the time you convert back to dollars the 30% never loss?

Nihilist:
Only place wey property dey appreciate for UK sef na London.

Recently got on the ladder after getting a place with almost 100k wiped from starting price like 2 years ago.

Same house in London would be pushing 700/800k. Out here in the sticks it went under 200.

Not just London o. Stevenage and Luton is still live. South Manchester to Cheshire as far as Wilmslow is also competing with London on % gain basis. Bristol also.

Even in London, Catford is still underpriced and due to blow.

afrodoc2:
Last I checked sha even on the outskirts of Lag plots of land that were going for 250k were going for close to 1mill a few years later. Before I left I had a colleague who was more into selling land and cars than practicing Medicine lol. Around that 2008 to 2012 period land was profitable o, I don't know about now though.

Lagos is profitable. Too many buyers and not enough sellers. The rich will keep retreating into Lagos Island enclaves given the security situation of the country. In fact Banana Island has the greatest capital appreciation in the world today and is traded in dollars. However for the rest of Lagos, forex movement will erode any gains.

Come to PH where niggas that were making yanga on offers on their property 3 years ago are now trying to give it away at Massive discount. Abuja the same.

Even Lagos sef, one of my guy threw £120k into building 6 flats in 2010 and is barely collecting £6k rental a year. Forex is not smiling. I threw a much much smaller amount into London same time, now you can't compare both investments, its like comparing Barcelona to Mamelodi Sundowns. My attitude to Nigerian investments is stay out of it.

afrodoc2:
The best thing to invest in IMO is real estate but that one self get e own K-leg esp in Naija. I still can remember those brokers claiming "the system is healthy" and "we are expecting a bullish run" until the market crash pata pata

Na lie o. Nigeria is the only place in the world (not at war) where Real Estate depreciates in value. . . . except for Lagos Island locations.

raumdeuter:
Since stock market chop my money in 2008, I no dey do anything for Naija again

Nigerian stockmarket in 2008 was pure scam. I checked the stock price behaviour at the time when I was looking to invest. Nigerian companies' stock price will rise 1,000% in the first month after IPO, then stay at the same price for the next 1 year without moving. Which means that there were many buyers immediately after an IPO (good marketing) but no liquidity in the market and would be difficult to exit. The flotation price is calculated by the Underwriter and should be close to fair value. When you see the price rising by 1000% percent above the flotation price just one month later, that is a big bubble.

afrodoc2:
Lol shey na the regular market chop your money or na Nospetco?

This Mavrodi guy is a convicted fraudster, how come the regulators in Nigeria allowed it to flourish?

It is outside the system. There is nothing they could do. People basically pay money into each others accounts without going through a central pot, so there is nothing the authorities could do.

Who remember Umanah Umanah in he 1990s? That guy chop a lot of PH and Igbo boys.

Wetin Pastor dey do for hospital? Physician heal thineself.

This is the time to show your ministry and your calling. Go and heal all your church members injured in the collapse.

LordEmperoris1:
GOT THE MONEY THE FOLLOWING DAY AFTER THE FREEZE

Na lie. How so?

raumdeuter:
Na we be this. MMM for life

You sef join?

How much you hammer inside?

Anything wey you hammer sef go done troway on Foreign Exchange movement.

LordEmperoris1:
MY HAND THE UP, BUT I GET YESTERDAY OH, PEOPLE STILL DEY PAY. MMM FOREVER

Did you make it out with all your cash before the freeze?

diggz:


Are you making donations to ease the money lost on mmm?because if u are not making one ,no expect any one to raise up hands

Meanwhile, is Oscar gone yet?

Since we have a lot of gamblers on this board, I want see who take the ultimate gamble.

All this Merrybet and Nairabet fans wey we get for Sports section.

Make una no lie, which of una play MMM?

Hands up, make we dey know ourself for here.

INTROVERT:
I'm at a loss on who to support here.

I support the husband. He suppose beat that mumu woman more.

Olu is the same colour but Nike has turned black and yellow like roasted bolé.

Emaprince:
Bis mehn, I ain't no saint bro.. but i'll like you to remove the Holy Ghost in your post. I know you are playing.. but shouldn't be with the holy spirit. God bless you.


As for Oscar, I hope and pray he gets sold so the money can be invested in better players.

I no dey fear the unnamed. . . . but that's fixed for the sensitive folks.

Binding and Casting is needed by all our prayer warriors in the house.

SKY SPORTS is reporting that Oscar deal to Shaolin Soccer is 95% complete, but Oscar is feeling like he wants to stay and fight for his place.

Hamreshababababakosa shebethshabababashiloh!

elrony:
Make we review this thing, izzit now official to party on draws?

When you draw every week, and you are leading and concede a late equaliser, party don set be that.

Chai party done spoil. Weekend dey come sha.

6 points down, 9 to go. Chelseafan1, can I get an amen?

Courtois for MOTM

Okada stop me here. We go celebrate draw tonight.

David Luiz why

Alright time to lock up. Sunderland getting more space than is comfortable now. Matic needs to come on

Moses need to improve his crossing. Alonso crosses are making sense

timbros:
As it stands, I will be okay with a draw.

Na lie oh. Na 3 points dey ground.

Griffon:
AvB is a proper Chelsea legend for making that call from China. Eledumare bless his soul.

Oscar's departure and Azpi's new deal both happening in a day? Mood!

Ol boy, the deal is actually done.

Oga Nihilist, come join me pop Champagne abeg. Your boy Oscar has finally brought us something major to the table. He even beat Sterling transfer fee by £2m.

Abegi party don set gon gon. When bank alert hit Chelsea phone, make una inform me so I fit host 24 hour party for this thread.

Maga don pay, shout Hallelujah!!!!

God bless Andre Villas Boas!!!!