₦airaland Forum

Diyke4rich:
Rent in that environment fully detached duplex is from 3m naira

emmanuelewumi:
How much will the 8 flat cost you and what is the rental income the property would have generated?

It is better to spread your risk, I will rather want to get N4 million rent from 8 tenants than having just one tenant who will pay me a rent of N4 million

AwkaetitiBabe:
Did it even occur to u people if she used the 20k to solve a pressing problem? Or someone sent d money to her and she helped d person withdraw? Or she gave d money to family? Who will have a balance of 1500 and not seek to get money from their so-called boyfriend?

Diyke4rich:
I am regretting the investment everyday would bought 8 flat of 3 bedroom in Asaba I will be getting same amount, i was told dangote refinery will make property demand high in that axis

unite4real:
wow. makes me think you are @ahiboilandgas 's wife

emmanuelewumi:
I have a property at ogolonto Ikorodu, 2 bedroom flat is 250k, sell contained is 180k.

3 minutes walk to the bus stop, BRT bus from the bus stop to TBS is N300

ahiboilandgas:
supply and demand ...how many house are available to let in yaba vs lekki ....this ration determines everthing.....the number of flat empty in 1004 estate only can equate the number available in hole of yaba+surulere+alaka etc....so if u use your 30 m to buy apartment in 1004 waiting to rent for 1.5m ....u go wait tire

ahiboilandgas:
lekki /ajah is a wrong location for rental income cos the choice is wide and supply has pass demand ...u have to target areas with limited supply

emmanuelewumi:
They are all the same.

Do you know that the occupancy rate in Lekki is about 70%, there are a lot of unoccupied houses in Lekki and other areas.

Increasing your rent arbitrarily will make your investment to be fallow for a long time.

ahiboilandgas:
campanies just dont dole out money is what the cash flow can support ....my cement ware house can only pay 50k permonth to 3 staffs anything beyond that can affect the cash flow, profitability ratio (captial vs returns )

ahiboilandgas:
But going to build several nice apartment in mowe or ikorodu and several off locations who are the potential clients...non ..where are the jobs around those area to support 600k annually rent perpetually.....so an investor must think like the customer.....

ojesymsym:
I hear say Dangote non de pay well o. FCMG industries are like that though. Yes, you are spot-on, most income brackets target those kind of apartments.

ahiboilandgas:
My friend bought an old house for 18m...100 by 150 land size built twin houses with 4 apartment(1 bedroom) each totalling 8 apartment well finished @6m each total investment is 18m +48 =66m million ......everthing was rented at 700k x 6 =4.2m ...he even collected tge agreement fees/agent via proxy 600k and everbody paid 100 each at caution deposit 600k ....the tenants are coperate people all working (verified) some chinese guys even paid 2 years of 4 flats

ojesymsym:
I will not claim to be an expert in real estate but I think I have observed the pattern enough to make some informed analysis.
For me, if I want to buy or build a house to be a rental property, then it will be a block of 1 or 2 bedroom flats. The demand for that is usually high from bachelor's, spinters, newlyweds, young families, relocating individuals etc. And the location plays very little role in all of these. For me, if you are buying a duplex, it should be because you want to live in it or you are buying at a low price with the aim of selling at the proper market rate. Most people who can afford to rent a duplex can afford to build theirs if they want to.
Also, if a duplex tenant defaults, that is at least 2M hanging somewhere, compare that to a block of four 2 bedroom apartments, if one tenant defaults or packs outs, there will still be income from the other apartments.
Marketers and agents will always sweet talk you into buying a house by helping you see the unrealistic future.

ojesymsym:
They gave you money for shopping and you invested and compounded it? Please, do you have a sister like you?
This is a new one for me on Nairaland.

Diyke4rich:
Property business to me is capital NO, I was trick by agent in 2014 buying a property over 55million naira, at ikota villa estate, rental is 3 million naira annually telling me in 3years property will be over 100m today to see a tenant is a problem, 2 times I manage to see a tenant after that annual rent expire to move out na wahala, if them manage move out them go leave damage worth over 1m naira which you have to repaint in and out again, sometimes it stay vacant for about 8months to 1year to get a tenant again, today I am really regretting that investment cos I bought the house when dollar $1 was 198 now devaluation of naira have finish me and even the rent is not coming in, so be wise when buying a property to me now is a no go area anymore.

lefulefu2:
op learn when to say no to certain request .
are u not a man?
will she shoot u if u tell her u broke and cant send her anything

vicben27:
it happens, back when l was still balling, 3 of my ex'es came unto me, and we had fun for some months, distance was always the separating factor thou