₦airaland Forum

The 3Ds are simply captivating. Nothing could be better than seeing your dream house in such ''close to reality'' renditions. Keep up the good work, bro.

Watching with two eyes closed. I would love to be able to buy a plot for less than N500K again.

Dream1:
If you are a young professional and a bachelor, then the apartment makes sense. When its time to settle down with the Mrs. and have kids, you can move to a nice bungalow or duplex with your own compound so the kids have enough room to play.

True talk

I am a fan too! Nice work @ihebrooke. I go ''try'' u very soon!

spyder880:
I found a layout in Enugu where lands are sold for N350k per plot, for those that know Enugu very well, this layout is at Ugwuomu Nike, around Ecumenical school. More reports on this as I will conduct a detailed search on this by tomorrow. I will take pictures of this layout and paste for us to access.

I am all ears, boss. Thanks as you keep us posted.

philip0906:
don't mind d confused slowpo.ke. . .

Me too dey wonder o!

We pay the security company at my office N35k for supervisor and N30k for normal guards. The company in turns pays 60% to the guards. The elderly supervisor has a family and comes to work every day. He is not contemplating resignation

You want to know how he does live, right? Ask him. I bet you won't want to know. Pay him a visit one weekend. Buy him a beer and make him talk to you from the heart and see if you can sleep that night!

I pay my gateman 15K and he is single and lives in my house. I know what he eats, the life he lives and when he gets broke. My bros, lets get real.

Omega89:
All the advices here are authentic craps. All advices are centred on managing poverty not creating wealth.
We all know the rule of paying yourself first and having a savings at the end of the day.
The real koko is what to do with the saving knowing that almost 95% of businesses pack up in their first year of start up even in the US.
Most pple sending in replies here are in a bigger financial mess so u guys come up with effective business mgt skills not poverty mgt skills
Personally I don't believe in living a lower quality of life for the sake of saving more money. I believe in making more by managing by biz better, So leave the guy alone. Who knows? He might have been inspired by an idea. Most great guys started by quiting their routine jobs for none.the desperate need that might arise due to lack of funds can force him to think outside the box and become creative. Say NO to ROUTINE!!!!ide the box and become creative. Say NO to ROUTINE!!!!

Aboki,
When your ''ROUTINE'' bothers on keeping your family, you will think twice before you say NO! Keep feeding us with those out of the book ''go-get-it'' message. We have also been there, bro.

adefash:
in this same lagos my wife goes to the market with 10k: 2k i/4 bag of rice which lasts us 6 weeks,garri ijebu 250/paintbucket we buy 2,semo 420 2kg for a week,beans we buy on weekends 120/derica yam 1500 for the month.we spend n1500 weekends for soup that will last 4 days.we eat fine though i dont have a ride and i still shayo moderately.guy let your wife make extra income before u take that decision so she can be a back up.ok? she can be a back up.ok?

Chief, your quotation don pass 15k for a month and i no even consider say the soup na for just 4 days in a week o!

Dalby:
N100 mama put still dey. Even the mama put woman dey still make profit to feed her family.

Guy,
100 kpai mama put no dey again! And come to think that you be Ph guy. Abeg show me make i go chop there. Just hope i go still dey alive to come report case of "nta na imo" wey i go catch from the N100 chaw. And even at that, the mama put makes profit from scale of her cooking and most times on the source of the food materials (you most likely won't like to know in what state she gets them).
Try cooking more that 2-3 meals at a time and see how your generator expenses (from refridgeration) go skyrocket.

O boy, come see where men dey arrange chaw economics! Na wa o! I dey even laff for hia!

Βουκέφαλος:
This poster is a BIG LIAR. 30k per month for market is too much. how many people dey the family? (because according to this story its just one wife and one son)
15K AT LEAST DON DO. o over estimate abeg

Guy, i wonder what planet you live in! 15k a month for 2 adults feeding 3 times a day IN A CITY less 20 meals the guy grabs at the office (and assuming the baby is good with the 15k budget) will translate to about 160 meals. 15k will average like N94 per meal! Guy, na wa o!

This guy's case is what many ''middle class' nigerians are facing. He makes 160k. I bet you most banks won't pay you 160k/month. How many other firms can venture 160k if not some oil/gas/telecom/top consulting jobs. The truth is, the same scenario applies to many a familiy in Nigeria and they keep trudging on.
Your friend will need to be realistic. Not all hustlings bring the expected desires. He cannot be so sure it will work out unless he has been pp'ing by the side and earning a huge income. Anything short will be a blatant miscalculation. Most hustling entered with ''red-eye'' as your friend is bound to see, would almost always lead to something he never envisaged. With no savings, he will experience pressure like never seen.
I have learnt that every hustling job with huge pay opportunity will always require some patience and waiting-out. With no much savings, something will have to give and someone will ''lose it''!

My take, he keeps his job and do pp's by the side until he has saved up enough(from the pp's apparently) to take the huge risk.
And, he can tighten up a little. Especially on the work related expenses. I see no reason why he will spend a part of 30k for transport and he's got a car with a fuel budget. He can pack lunch from house and increase wifey's food budget a little.

He should remember a whole lot of people earn way less than 160k and still do more than just survive.

I am not sure if i ever wanna invest into such . . . cos i am too emotional to see people living in such condition.
I am not sure i can stand seeing a kid being raised in such environment without telling the Papa and the Mama to leave the rent

Same with me. I had an experience. I bought a run down house in Enugu for the land appeal (land is in a prime position). This is 3 years and i still feel lethargic to go evict the families and break down the house and re-build. 9 rooms face-me-i-face you. Some of the tenancies are as old as i am and i know most of them from my growing up. Don't even talk about the rents. Now, building the house is the last on my list of property priorities.

A typical case of bad business accruing from emotions?

Nice. We are watching.

Certain actions are just downright morally wrong. Conflict of interest is what they call it.
I still doubt the authenticity of the gist anyway.

We hear strange things these days. This is definitely one of them.

I wonder when, that will happen, cos so many eyes are watching and looking and we are learning and willing

I am also waiting, eagerly.

Pls post pictures. It would so much help this post.

Thanks

Congrats, man.

Woooooo! What a thread. There you go Diordaves. That is a fresh angle to consolidate Oga Spyder's position. Would you mind going the extreme and integrate the time value component in the BEP equation. Only then will we be looking at the ''whole truth and nothing but the truth''. I bet you, we will understand the jig. worst case, we go dust up our Econs 101. I believe we need to consider all the angles.

But folks, we need more of Edo.girl's perspectives to straigthen things out; reduce and prepare for the ''suprise'' package lurking down the road, which unfortunately, every business will have to contend with one way or the other. It could be a disaster if you get too optimistic about property business(or any business for that matter) based on certain hypes or hearsay and without thoroughly ''torchlighting'' the matter.

Oga Spyder, I really have doubts about the viability of the ''build and sell'' model in Enugu. My point being that a sizeable population of Enugu are still civil servants that earn and save money in bits. That is why most of them pay rents monthly as against annually. They will love to build their own houses and save your profit.

Good morning people.

Hmmmn. I am learning real good. Thanks for the contributions. Keep them coming. Hopefully, i and everyone would be better for it.

@edo.girl,
I understand every point you made. You sound like you have been there. And heck, did you sound discouraging? But that is why we are here. Please, let us hear more from you. Especially personal experiences, if any. You may just be saving a lifetime savings from going down to the, not too fantastic way!

@Fhemmmy and Sagewood,
You did well to water down those strong points edo.girl made. But they still feel like points that could haunt me after i have made my decision. More poits would be appreciated.

Muito Obrigado

Hmmmn. Microfinance? Never thought of that.
How much cheaper could that be?

Thanks

@ Sagewood,
Thanks for your advice. I appreciate it.

But loans? I am a bit scared of the effect the over 20% rate will have on the payback period. And, i think loans are still very tough to get here.

Thanks again. I am thinking harder now.

closed

I am hooked to this thread. Keep it coming guys, before i make a ''fatal'' mistake with my Enugu investment plans. And come to think that many of us may not see N50m that many times in this life! There must be some ''faster money'' approach.

Need we say more? Location is indeed king. But like most good things, it comes with a huge price.
I like to buy plots around semi-developed areas where you can see the unfolding class and determine if it suits your needs.
Buying such plots or houses would pinch your pocket but you'll get to appreciate it in the long run.

But jokes apart, Enugu has changed for the better. Try hanging out in this town any night with small change in your pocket. That is what i call value for money. And guys, the streets are neat enough. Roads are pliable. Taxis plenty. Hotels affordable. And like my more ''learned'' contributors opinied, ''umu asa'' full ground. What else do you want in a city? Tell me!

@Brabus,
Good morning. Do you happen to have any picture of a naija terrace building? I am actually thinking hard about one of such- for investment purpose shaa.


But guy, there is nothing like living and sharing your own little space with your family. I have done that for a couple of years and i won't give that up for any ''collaborative environment''. Anyhow, I still ''collaborate'' with my neighbors too.
For investment purpose, terrace apartments make a lot of sense but i maintain that the clientele would be predominantly quick movers living like in an extended stay motel.

Thanks Hakir. I appreciate it. Infact, i got into Jahi early enough and i am waiting for the right time to dispose of a plot at ''optimum'' price!

Put all those costs together and the big boy can conveniently rent a duplex somewhere else with it.

The main concern here is that the same class that could like and afford these luxuries(24 hr power, machine washing and drying! security, gardener etc) are the same set that would also like space and privacy.

My fear is that community living or glorified face-me-i-face-you may not work in Naija. Where they exist, there will be a near zero percentage of willing clients.

There are many furnished apartments in Ikoyi in particular but they are almost always rented by top companies who pay top dollars for them.

Hakir,
Thanks for the info.
You've got your ears to the ground. Do you have an update on the infastructural development in Jahi? What is the average price of a 1000sq. m C of O plot out there?

Nat