₦airaland Forum

I broke the table

vincentjk:
Yes it is. The normal chrome you know, it's actually owned by google

merit1988:
friends without benefits is all I ask ....like making new mutual friends on the group to kill my boredom....is that too much for me to demand for?...ok, wrong thread.... walks out

Skillzthebadguy:
??

Geminita1:
I don't bring anything to the table,i am the table.

vincentjk:
Facebook
Pinterest
Google chrome

DaBogu:
Dr. Tayo Oyedeji
@tayooye
Renting is wiser for most people. Don't buy a house unless:

1. Mortgage is < 8%.
2. You can pay cash.
3. You plan to live in it for 10 years.
4. You need the psychological comfort of home ownership.

Rental/investment property is great. Home ownership is mostly a bad investment. I'll share the math on home ownership sometime next week. The home you live in is your worst investment. For some of us, it's not even an investment. Don't buy the hype, do the math. Home purchase for living is a bad investment. Rental property is a great investment.

Do the math.

An average property in Lagos is N40m.

Treasury bill rate is about 12%. Your N40m will yield N4.8m a year.

You can rent a good home for N1.5m and still have N3.3m left over.

Your house is costing you N3.3m per year.

Do the math.

Psychological comfort, societal expectations, and cultural norms are valid reasons for home ownership.But when it comes down to the math: it just doesn't work. I own a couple of homes for the reasons stated above. They're not good investment.

Investment is math, not emotions!
Buying a home to live in is a good option for SOME people. Especially if you:

1. Can get cheap mortgage (< 8%)
2. Can pay cash.
3. Plan to live in it for 10 years.
4. Need the psychological comfort of home ownership.

Otherwise home ownership is mostly a bad investment. Those two tweet are exactly the same. Sometimes people are so emotionally invested in a point of view that it clouds their judgment. You can't make investment decisions emotionally. You'll get into trouble every time you do that. Selah.

Investment = Maths + Logic

1. Never invest because it feels good.

2. Never invest because it sounds good.

3. Never invest because you like the manager.

Maths: Do the numbers make sense?
Logic: Do you understand how it works?

Investment = Maths + Logic
"Renting is wiser for MOST people"="Buying is a good option for SOME people"

Review your options. Evaluate your emotional needs and make a choice. The math favors other forms of investment. Your psychological needs may favor buying a home.

Just do the investment math first.

pocohantas:
Isn't it?

merit1988:
Married,bored, live in Lagos,need mutual friends....don't want to get emotionally committed though

pocohantas:
In no particular order;

1. WhatsApp

2. Chrome

3. Pages/Notes

Skillzthebadguy:
Reddit, Twitter, nairaland

beresponsible:
What kind of nonsense wife is that?

Paulynez:
Prison experience is something I would never forget in a hurry. I was in NDLEA prison headquarters in Lafia for a week and trust me when I say it was not a healthy experience at all.
The guys I when to meet there some were drug dealers, some where patent store owners arrested for a common syringe found in their shop while some when seen in possession of tramadol and other narcotics. My own case was just because I was sitting close to some guys smoking weed they came and arraigned all of us and took us to their cell, mehn it was a hell for me cos it was my first time.
Every morning they will come and take sine of us with minor offences for environmental and later serve us with only God knows what they called food. I couldn't eat, take a poo nor piss for that whole week I stayed there. The guys in there were hausa so they were kinda used to the food they were giving us so they will always be advising me "student u no go eat? U go die oo!!
The drug officers will always persuade me to call someone to come bail me. 'Thor... Me I no get anybody for dis lafia oo' that's what I always told them. Until when they got tired of me, they asked me to go and look for 10k but they will hold onto my phone until I bring the cash before they give it back to me.
It was a terrible experience ah swear!