This is not completely true.
If you decide on the thickness and corrugation size (normal, metral or something like that) you want, then they can work out how many sheets are required for the area (SQM) you want to cover. Remember it comes in flat rolls first, then they corrugate and cut to standard length.

Info likes this only plays into the hands of roofers by making simple concepts shrouded in secrecy.

MrOkenwa:

Aluminium roofing sheets(Step tiles, metcoppo, and long span) don't come in a specific length or sq meter. The length of the sheets would be tailored to your need.

ideally, you should add M&E to that. Mechanical/Plumbing & Electrical.

Ballack1:
House plan consist of structural plan,achitectura design right ?

This is a common strategy here where parties leave the substance of the discuss and attack the persona instead. Even your humble self have been at the receiving end of this, albeit unfairly sometimes. Yet, that's exactly what you're doing here.

I am still waiting for where Oribanwa is in Argungi and more details of that your customer's 28.5m 4-bed terrace in Lekki.
Maybe a google pin or area view map will do justice.

P.S: the only reason i responded to your post in particular is that I used to take your general industry knowledge, beyond your materials supply value chain, quite seriously.

Chekitaut:
Everything about Brabus na Hype guy the level playing ground no be so oooo, I have lots of these people in my contact, 3months pay pack in houses.

Ikoyi, Vi, Lekki-Ajah empty houses yapaa, presently Oloshoo 9-15 in a duplex plenty for Osapa, Agungi, Ikate.

No matter how you hype this pricing or Building, remember Flood, Traffic, Rubbery keep devaluing it. I go spend 4m rent on 3bedroom duplex spend 4hrs for a 7km road. I don't look like MMP(Money Misplace Person).

Don't sweat it man, either ways is just fine... the most confusing set of artisans must be in the building/construction industry.
What you have for most of the stage work is minimum standard but not necessarily standard practice. There are best practices but then that also depends on who you're talking to.
There is always an argument for or against any method you choose. So if the artisan is tending towards one method, it is probably what

What you should be more concerned about is which method or sequence will consume more materials.

In summary, we do it after plastering and have had good results w/out issues. We do simple designs of 6in wide x 2in thick (outward projection from the plastered wall) , done by hand (i.e. not the precast and hanging type) and still standing.

I've learnt not to sweat the small stuffs.

henrymor:
Yes sir!

The bricklayer said it use to remove if it is done after plastering l. He said if it is done before plastering, they will also use cement to hold it to the wall very well so that it won't fall off after some time.

Chill folks,

The interesting thing is that there is nothing new that has been said here today about real estate investing that has probably not been said here before a few years and pages back. The dynamics may have changed slightly but the rules of the game remains the same.

There were doubters then, some speculators, others spectators, some pessimists, while others holds optimistic views, players and commentators. Even all the talk of market research isn't entirely new; some did theirs years back and still iterating while others are beating the drum today as if it's novel. All that mix is still present today, tomorrow same same.

**But its the people that don't watch Big Brother that discuss and complain about it most, single people have the most marriage advice to give, just as football fans/supporters/spectators have the best coaching tips**

While sometimes there are no right or wrong answers to a problem statement/decision, there is always that one amongst the many alternatives that presents the most optimum solution. So pls let's all be happy with our "informed" choices, afterall one road no enter market.

Chillax and enjoy!
#WeMueeve

Pls provide more details of the Iju Ishaga own.

Thanks

Thanksss:
Good evening fam am a silent reader here.
My friend want to sell 2 landed properties in Lagos,one in Ota and iju ishaga side

Location is everything!

One4me:


Swamp land, Sea-front are not meant for the average pockets, it is just that kobokobo people too want to show color and end up stressing themselves over such places.
If you are loaded, those are the best place to buy, especially sea-front.
There is a place called Makoko in Lagos, the poor people living there are being driven away right now, to make way for the Big Boys with deep pocket, to build better structures there. That is how it works.
Most of Ikoyi were formally Swamp lands and Sea fronts but you cannot hear the "Bullion Van people" living there complaining about Swamp or the Lagoon.
So, its all about the money in the pocket.

Ofc, there are still land in Mainland, just like most of them cost between #40M to #80M.
That is still a lot of money but the ROI is also huge. Its all about Location! Location!! Location!!!

Domain knowledge!

n3xt:


This is it!

Will I build a block of flat on a 100m land? NO!
Will I build 3 unit Terrace Duplex on a land worth over 50m? NEVER!

While I was building 3 unit Terrace Duplex on 900sqm, my friend did 18 units of 2 beds on 1200sqm.

I have someone here who did 4 units of Terrace Building and 4 units of 2 beds on 1300sqm in the same area but far inside and he was struggling to attract tenants.

He copied exactly the same the design and build in the same area but was unable to get good ROI. As a matter of fact, I designed both building but I was left to decide what’ll work at the Reserve while the other guy came to copy what I did on his project.

What's artwork? Window hood, belt etc.?

If yes, you should do plastering first then those right after in the same breadth. It just blends in together and comes out neater, plus i don't think the materials or cost is significantly different either ways you go.

henrymor:
Hi professionals,

Should I do artwork before plastering or after plastering? Please, which is the best and why?

Thanks!

Valid points.

But the discussion and analysis was around the same asset class (i.e RE) but comparing different locations. therefore, they will all be impacted by depreciation or inflation, just by different magnitude.Of course you can do all your discounting, present/future value and stuffs to get your NPV and determine if its a go or no-go.

That is why "today's money/value" was mentioned a number of times in my submission.

Now if you move to other asset classes then the effect is different.

But then what is the market risk-free rate of return today NEGATIVE (-ve) ... so if you hold X amount in TBills for 30days you will get less than your principal, essentially paying govt for holding your money.

So let those that play safe continue to play safe, there's nothing wrong with that. its all about risk appetite and domain knowledge.

qdlvy:


Not sure you guys are accounting for inflation. What you consider "appreciation" might be net depreciation after you account for inflation. Buying power of #1000 now is not the same as it was even 6 months ago. That's just six months. I don't even want to back 5 years ago because it's so depressing.

Hello,

I don't like getting into these but cos you asked a direct question ...Saw this earlier but was trying to settle down before posting a reply.
I tried to put down on notes (attached) before getting back on the road, i'll add another quick scenrios below.

Off course these numbers are not cast in stone, but the general rule and idea remains.

====
MEGAMOUND ESTATE, IKOTA (I'll come back to insert these numbers later)
Land:
Build semi detached or 2 detached duplexes for
Selling price: Detached duplex 80-100m or more

===
ORCHID ROAD, CHEVRON TOLL
Land: 30-35m today
Build 5 units of 3bed + BQ or 4 bed terrace for 100m
Sells each for 38m offplan or 40m-42m upon completion...today's going rates
6 months turnaround .. confirmed known practice

===
IKATE
- 800 sqm costs ~50m 3yrs ago. today same land is 90 - 100m but they won't sell, they'll build and flip
- Pile foundations and Go vertical, good location for block of flats. selling fast today
- Builds 9 units of 2/3 bed apartments... any volunteer should work out cost of building and add
- 2 bed sells for 38-40m and rents for 2.5m - 3m today. Short let rates at ~40k per day... these one i'm certain for sure
- 3 beds sells comfortably for over 40m. i don't have the rental rates tho, but short let rates are similar to 2bed above at 40k/day.

====
You can do the maths.

Buy the land early before it shoots up and wait to appreciate, don't sell but build, build simple and whats going in the market, build brand equity after first project, project will be over-subscribed, then the spillover offtakers are offered the phase 2 in the next location. RINSE & REPEAT.

Cheers

diordaves:


If you could use numbers and examples to explain how developers are making a kill flipping on those same swampy land, that would be most appreciated.

I'm really trying hard, but the numbers are not stacking up.

official/CBN rate, not parallel/black market rate is what you'll see on google

amosblisz:


I know it's off topic but why is Google still saying 1$ equals #381.50 when it's supposed to be #480

Hello,

You posted a distress sale land on the mainland for 5m recently. Is it still available?

Thanks

SurveyorGeo:
If you are buying land in Moniya, Ibadan, be extra careful because of the proposed Train Station there, so many land have earmarked has government acquisition. Both State and Federal Govt. so be warned, make sure you chart the land before you pay for it.

WTH is Oribanwa?

Once you start seeing Lekki-Ajah just know that you're more towards Ajah than Lekki.
A developer will NEVER advertise an Argungi (which is Lekki proper) property and write Lekki-Ajah. That's downselling. de-marketing.

Moreover, i can tell you for free that those prices quoted are closer to Ajah prices, even lower sef. Take the old watered down Lekki Gardens by Abraham Adesanya as an example, you can't get them as cheap as your post.
N28.5m for new 4bed terrace in Argungi and the house is still available? when same sells for 40m offplan outright on Orchid road? Impossicant!

I suspect you don't have all the info correctly about this your customer and his/her offering.

Even Argungi is different from Argungi. That's why he mentioned that in Argungi there is inside inside with bad roads and there's outside that's cream and proper which commands higher sale/rental value.

Never forget the first rule in real estate/property investment: LOCATION IS EVERYTHING!

Chekitaut:
Agungi for sale price oooo same from my build & sell customer

I know man.
Infact, you're up there for consideration for the next project if we decide to develop as against the JV proposal at hand currently being considered.
This is because of experience on similar builds (like what we have planned) and your PM skills.
That being said, it has been difficult to get hold of you lately.

We have a solid building team on our ongoing project but the engr/builder lacks economic sense, hence not suitable for a commercial project.

I read up there where someone said those numbers below are not possible and i can only join to smile

n3xt:


Valid.

I do help people build in those areas though if you’re looking higher return on investment.

The owner of The Reserve (3 unit terrace) at Agungi has recouped her investment within 4 years. She invested 80m.

My friend who invested in 18 unit 2 bed and mini flats in the same area has recouped his investment too. He invested 160m and made 180m in the first 5 years.

Different Market. Different Choice.

What is time duration?

2m-5m is a wide range, can you be more specific if possible. how much will one buy same or similar land today if they walked in?

If i use the lower ends: 550k & 2m that's about 260% ROI. if we know the number of years in btw then it will help further.

Cheers

n3xt:


Plot 1 - 550k
Plot 2 - 650k


Today, they sell 2m - 5m
(very good areas, no swamp). However I’m already considering some new areas to develop into mini estates.

Just seen your edit...

As per buying to build for self-occupancy, i think owners needs to use the same mindset and see their property as an investment. I look at it the same way for the sake of valuation down the line.

Again, different category/market.

Dijita:


Sorry I don't mean to be disrespectful. I use ignorant in the sense that some people don't know there is better alternative. Also, it appears that we are talking from different experience. You are talking from the perspective of an investor and am talking from owner occupy perspective.

No offence taken, besides your post wasn't even at me.

I know the context with which the word was used, but i disagree that a savvy investor is ignorant of the extra cost required to develop a property on a swampy land knowing fully well that the ROI is unmatched and the payback tenure is much more less.
The alternatives are known but again, its a matter of choices.

There is a reason property developers are making a kill flipping on those same swampy lands.

Dijita:


Sorry I don't mean to be disrespectful. I use ignorant in the sense that some people don't know there is better alternative

Ignorance how?

I think the ignorant ones are those that don't differentiate the forecasted growth rate of the different locations thereby comparing apples with oranges. IF YOU CAN AFFORD IT and you buy swampy land in a fast developing or already developed island location, then your ROI and payback tenure are incomparable to what obtains on your mainland dry land.

I think majority knows this and it has been discussed here many times, yet folks still try to critisize those choices. It's a different market for different type of investors/people.

Dijita:


Ignorant and people want proximity to their job in the island. If you are in diaspora and you want to buy land in Lagos, I am going to advise that you go to Ibeju/Lekki beach area. I will be posting some images soon to help people distinguish between swamp and dry land in the area

Roger that.

Thanks a lot.

abdulwastecx:


125m at 25m per units will do

Hmm... noted.

Thanks s lot as always.

n3xt:


You might require more than 100m for 5 units in your location. I didn’t realize your initial post has been edited. I thought you’re looking at 4 units.

Attached below is 4 units of 4.bed Terrace duplex sitting on 310sqm footprint and it took 100m.

5 units will definitely gulp more.

Thanks. will check.

n3xt:


Go to Shoprite building/hardware section or other building marts. You can also get it in Orile.

I think it’s between N50 - N200 per pc depending on size. It’s also sold in packs.

Hello all,

What is the cost of external screeding materials in Lagos?

- Screeding paint (20L buckets) ... operator recommends Glover brand, but any other good quality would do

- Top bond (10kg buckets)

- Waterproof cement (carton)

We have about 1k sqm external walls to do, so hoping to get the labour down to about N200/sqm or lower.

Thanks

Pls where did you buy those from and what did it cost? Thanks

One4me:


I bought o, gave my Tiler and he did not even use it.
Though the job still turned out good but l think it could have been better if they adapt to such things.

This external screeding looks quite neat and tidy.

Quick question... did you use screding putty or the regular portland cement mixed with screeding paint?

Thanks

Timtol:
www.dioritestructures.com.ng
08100452977(WhatsApp)
info@dioritestructures.com.ng

Thanks for your patronage....more on exterior screeding

Thanks chief... but i made a mistake in my initial post which i have now corrected.

It is actually 5 units of 4bedroom terrace duplex all in one block.

You know those guys don't go overboard like that with finishing, basic but good stuffs, flip and move on to the next one.
Maybe 100m? that means the split ratio on offer may not be that bad.

n3xt:


Budget #85m - 100m

I did 3 units with 80m

corrected to read 5 units of 4bedroom terrace duplex (not 4 units incorrectly stated before)
======

Hello builders/engineers/developers,

How much will you estimate to completely deliver (build & finish) a block of 5units of 4bedroom terrace?
- This will be the typical developer standard which is common in lekki, nothing extra.
- Location is 2nd Toll gate (Chevron) axis in Lekki.
- Raft foundation
- 5 x 4 bedroom terrace on two floors (ground floor + top floor only)

I have received a JV proposal and need this number to work out an equitable sharing ratio for fair negotiation, otherwise will consider doing the build.

Thanks

cc: saydfact, n3xt, rotech77, abdulwastecx, raymondFirstborn, KolaShangOne, spyder880, segcymoore, QSFemi etc.

Chief, i know you mentioned you're just doing a part of a mega contract but are you in a position to help source this Lafarge at the rate it's supplied to you? how much additional will it cost per bag to transload to Lekki-Ajah? Say btw 300 - 600 bags for block making for personal use (not resale).

Thanks

n3xt:


That was even the most expensive price we getting it here.

It was actually #2450 until last week.

Hello Checkitaut or other willing supplier,

What's your rate for delivery to Off Chisco B/stop, Ikate Lekki:

- Sharp sand ... full china truck (needed today, Thursday)
- 3/4" down Granite from Ijebu ... 30T
- Stone dust .... 30T

Sharp sand is needed today Thursday, the others can be arranged for next week due to logistics.

Thanks

Hmm... the CofO is issued against the land and not the building, so it has nothing to do with residential or commercial nature of the building. It is the building permit that specifies what type of build has been approved.

saydfact:


THAT C/O makes it worse for you to approve.... ie the fact it's not in your name adds about 300k or more to the approval fees....

The 2m - 3m tag on the approval should be true........ Our Government are making it practically impossible to approve buildings (with multiple taxation) ALSO check the the C/O was issued for residential permit not commercial.

the feelers is that prices will reduce, everything is pointing in that direction.

omanzo02:

Nigeria is difficult to predict man! Price increases rarely decrease, I am very sure the price will never reduce to ₦2550 we got it early October.