₦airaland Forum

krystal101:
My sister, please don't venture into joint venture. I'm into properties but strictly on the island but we can work around your budget. Please pm me so I can send you what I have.
Cheers

What are the cons of JV?

We are all here to learn

Are you able to post the properties you have on your books on this thread.

bebe2:
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?

Yes there is always the Nigerian factor when going into partnership but remember they will also have equal stake in the project hence it being beneficial for them to allow it to be successful

Either way, all agreements has to be done via the legit legal route so as to provide the much needed assurance.

bebe2:
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?

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

bebe2:
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

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.

@OP

Did you actually think my answer was guessed considering i was the first person brave enough to answer something i'd expect my 9 year old to get right?

Pattern matching is a standard quantitative tests that most people would have come across when seeking employment

permsec:
Which USA? Tell me you're joking.

Last time i checked, guantanamo bay was illegal and both Bush and Obama flouted the law

MRSALT:
Man it is not as simple as you put it. Do you know how long it took arms to arrive from Ukraine? Black market was for short time supply while they wait for the arrival of arms from Ukraine. Some of the arms arrived from Ukraine at the twilight of the last administration. That was one of the reasons for the postponement of the election. Even GEJ said it during the campaign. I heard that some arms arrived during this regime. Some of the reasons for the victories recorded by our soldiers in recent time over BH. Everyone knows there has not been acquisition of arms by the present administration.

The insurgency didn't start towards the twilight of last administration so what exactly was the point of the urgency that allowed them to engage in illegality to fight a war that may have been started by themselves in order to legally syphon money via military budget

A serious government would have planned well ahead whilst factoring time constraints into deliverables

The military had sizeable budgets for years so surely they must have either been stealing the money or procuring arms via the right channels

Absolutely no justification

PassingShot:
There was no sanctions to buy from Russia, Turkey and many other countries. Only US was relunctant or refused to sell us arms.

No justification for buying with cash.

FFK is simply a retarded goat

How on earth did he even get to be a minister for Bleep sake

He claimed Nigeria was banned for procuring legitimate arms but we do know via records that we did order some military equipments from ukraine. How come the ban wasn't extended to ukraine or Is he trying to tell us he was unaware?

kleek:
jaybee3 i see you ooo

3

Aminat508:
jack you no go give me Xmas gift abi?

you be xtian?

you wey no even gree give us salah meat

samflex:
You're right, what do you need for verification? I can break it down maybe via email if it's cool with you

send me an email

negotiable or fixed?

samflex:
80k sir

80K is a lot to give out without proper verification of claim

samflex:
I wish I can pay off my debt, I want to enjoy this Christmas in peace

How much is your debt?

What's the projected cost of this build

I'm kinda interested

Following

Lumpyy:
I wish for a cash miracle as i only have 700 naira to my name and its 2days to Chrism

Any specific thing you want to use the money for?

Sagamite na real ogbologbo

APCLyingBastard:
Aregbe ran a similar sized budget based on debt.

Why is Osun groaning under poverty and wallowing in pigs filth?

Yeye hypocrites

I honestly don't understand your question but If you did maths in school, you should have known a -ve + -ve = misery

The revenue to population isn't comparable so what exactly is your point?

HIGHESTPOPORI:
What Akpabio did in AkwaIbom,no Apc gov can do it even when they are combined! Nigerians are already tired with too much talk and propaganda from Apc,the economy is getting worse and people are loosing Jobs.Apc should get to work and stop thinking they are deceiving us with Dasuki and d rest!

What Akpabio earned in AkwaIbom coupled with ridiculously manageable number of people he had to cater for should have propelled that state to Naija's own Dubai

Nonsense

Sleekyshuga:
These facts are beautiful .. Thanks for educating us, Explorers..

I fell in love with the yuletide season in Paris.. Such display of beautiful lights..

Thanks for the wishes.. I wish you, and your family nothing but laughter this season ..

I don't believe you


I'm pretty sure you are only ever interested in the yearly ritual of Orlu hen being stylishly displayed on a plate of rice

sinistermind:
Then I think it is you that doesnt have a working brain. 7 months af coming int power and u are still blaming the previous administration. They shoul think of a way around the current situation and not throwing blames. It is quite unprofessional of him to come out and speak such trash.

How can they proffer solutions without understanding the root cause of the problem.
Subsidy has and will continue to be a very delicate issue for Nigerians so ain't no magic stick or quick wins.

You don't expect them to keep borrowing in order to meet the financial obligations as far as subsidy is concerned do you?

Or perhaps, do you expect them to remove it entirely and allow a break down of order as a direct result of hardship that Nigerians will be subjected to

They are already doing what any sensible government would do:
They are working tirelessly to fix the refineries <= This will reduce volume of import and payment of subsidy
They have reduced the number of licensed importers <= This will close the leakages and ensure we are only paying for exact volumes imported
They have cancelled Oil SWAPs <= This will increase the volume of crude available at our refineries
They have tightened regulation and increased enforcement activities on marketers working against the interest of the government

amusadele:
Buhari, as a confirmed riff raff, what, then on earth can prevent his followers not to be very foolish as Buhari himself? These are the Dunce people from the same ethnic group. The cow and goat brain region

What exactly are you saying?
Did you by any chance sleep through school or what's with the lack of coherent delivery by yourself?

Anyhoo, you can cry from now till eternity phool and it wouldn't change the fact that the same norther will rule your bigoted behind.

I've entertained you enough so go suck on some balls

zoelife:
You're so pathetic, Christ!

Really?

Why am i even surprised when majority of you bigoted eediots hide your tribalism filth to criticize without engaging your God given common sense!

amusadele:
Go on. Your steady failure is as a result of Jonathan this and Jonathan that. Please tell your dunce president to work.

You are obviously directly affected by PMB hence the reason for your devotion of your entire existence on NL to criticizing the man himself.

Word of advise, get a job, life and perhaps laid so you don't die of HBP

#nonsense

alopy:
Before Amaechi left office, he was owing pratically every sector in Rivers State but Wike took responsibility for his 'sins'.

APC #acceptresponsibility...!!!

How dumb can someone possibly be?

So wike took responsibility from his own pocket right?

Either of the 3 actions below had to be true in order for Wike to have been able to circumvent the wildly publicised financial constraints that majority of the states was put under at the time of the handover.
. Amaechi must have left money in the treasury

. Wike had to mortgage the projected future of Rivers indigene by borrowing against project income from falling oil prices

. He used the bailout funds shared by the APC led government to tackle some pressing issues.

In summary, Wike was only able to respond if at all by the enabling environment provided by this same APC led government

NextGovernor:
You that have the brain of the whole world, have you ever been appointed PA to Class Captain not to talk of elected as Local Government Councillor. #Mrworkingbrain

Don’t worry about me Sir/Ma. My effective contributions are being felt where it matters so run along dumbo!

lomprico:
Bruce has said it all!
This lai no dey shame sef

What exactly has he said that's any different to the bunkum he has been spewing on twitter.

Lai Mohammed explained that the major reason behind the scarcity is the inability of the current govt's ability to pay backlog of subsidy payments incurred during the previous administration and specifically from august last year or thereabout.

If the marketers/importers are owed money, banks unable to extend credit facilities because of uncertainties surrounding governments ability to meet her financial obligation to the marketers and the mother of all evil, our inability to sufficiently refine our own crude. how then is Oga Lai out of place with his assertion?

Does Murray Bruce have a working brain or what?

Are you guys also aware of the impact on a rate hike by the fed on the USD?

Dollar has strengthened across board because it's now being seen as a safe haven by institutional investors hence the downward pressure on commodities

However, CBN do need to urgently address the continous aggressive divergence between the official and parallel rate

Decapo:
Please we need the court of appeal to help man utd sack Van Gaal

kolomental

Xmas card

Joewiezy:
Why can't he delegate the loot recovery then and focus on other things.

Are you being serious or you managed to sleep type?

Since when did buhari became the default head of EFCC?

EFCC woke up from its slumber because the current political climate frowns at anything corruption hence the reason why he appointed Magu to reinvigorate and refocus the energy of the organisation to satisfy her mandate