₦airaland Forum

What is the current worth of the house?


Howmuch do you want to sell the house?

Depend on the kind of business you're venturing into

Please Just GO AHEAD, YOU Don't Need to Ask or Seek Anyone's consent

so you will go from landlord to tenant? if you are sure about the business ,why not use the house as collateral for a loan.

That is not a good move.

It is not advisable to sell your house

olukaygold:
For clarity sake, cos of building a house is skyrocking everyday,If you sell that house today,you go need double or more amounts to build another one tomorrow. House is an investment that doesn't depreciate,im giving advice based on my experience cos I was once about to sell my house at a ridiculous price around 2020 when things were not moving well for me but I didn't later get a buyer,I later finished the house last year and rent it out around 400k last year,this year now,that apartment alone is 600k. So pls don't sell your property to start a business,You go regret am later.look for business money else where...this business you're about to ventured into now,you don't know how the future go be,it never get stability. No start wetin go give you sleepless night and depression ooo

and who will rent your apartment for 600k if not ritualist yahoo boys. We know una type, increase the rent to make it unaffordable for legit workers.

Guy business no de smile o, keep your house and source for capital elsewhere.

Your village people dey one side dey throw native chalk to the sun

olukaygold:
For clarity sake, cos of building a house is skyrocking everyday,If you sell that house today,you go need double or more amounts to build another one tomorrow. House is an investment that doesn't depreciate,im giving advice based on my experience cos I was once about to sell my house at a ridiculous price around 2020 when things were not moving well for me but I didn't later get a buyer,I later finished the house last year and rent it out around 400k last year,this year now,that apartment alone is 600k. So pls don't sell your property to start a business,You go regret am later.look for business money else where...this business you're about to ventured into now,you don't know how the future go be,it never get stability. No start wetin go give you sleepless night and depression ooo

How and why did you increase rent from 400 to 600k within a year?

Don't allow greed set in. Today's inflation rate does not affect the cost of blocks you bought 10 years ago.

POSmecrhant:
I have a self contained Flat that's giving me 165k every year. But I want to sell the place to invest in business that will give me 120k to 150k every month, because I'm married now, responsiblites will spring up. and dont want to depend fully on 180k salary.

Could this be good or bad idea?

Selling off the house will be like killing the goose that lays the golden eggs.

Nope

olukaygold:
For clarity sake, cos of building a house is skyrocking everyday,If you sell that house today,you go need double or more amounts to build another one tomorrow. House is an investment that doesn't depreciate,im giving advice based on my experience cos I was once about to sell my house at a ridiculous price around 2020 when things were not moving well for me but I didn't later get a buyer,I later finished the house last year and rent it out around 400k last year,this year now,that apartment alone is 600k. So pls don't sell your property to start a business,You go regret am later.look for business money else where...this business you're about to ventured into now,you don't know how the future go be,it never get stability. No start wetin go give you sleepless night and depression ooo

Not even business, in this present country best advice to him

POSmecrhant:
I have a self contained Flat that's giving me 165k every year. But I want to sell the place to invest in business that will give me 120k to 150k every month, because I'm married now, responsiblites will spring up. and dont want to depend fully on 180k salary.

Could this be good or bad idea?

To me, don't sell one investment to fund another! U yet to know out come.. btw if that new one is ROI bro u loosing 2 ways. Struggle more n raise fund fr new project. Thank me later

If it’s your one and only investment, don’t sell it. You will need something to fall back on Incase of anything

POSmecrhant:
I have a self contained Flat that's giving me 165k every year. But I want to sell the place to invest in business that will give me 120k to 150k every month, because I'm married now, responsiblites will spring up. and dont want to depend fully on 180k salary.

Could this be good or bad idea?

I hope you're the one who is going to manage the new business yourself

With the way things are going on in the zoo right now, I will suggest you leaving that house alone. Be careful so as not to lose your inheritance to some business which you are not even sure if it's going to yield you this amount of money that you just mentioned.
The price of cement is skyrocketing including blocks and other materials for building a house

olukaygold:
For clarity sake, cos of building a house is skyrocking everyday,If you sell that house today,you go need double or more amounts to build another one tomorrow. House is an investment that doesn't depreciate,im giving advice based on my experience cos I was once about to sell my house at a ridiculous price around 2020 when things were not moving well for me but I didn't later get a buyer,I later finished the house last year and rent it out around 400k last year,this year now,that apartment alone is 600k. So pls don't sell your property to start a business,You go regret am later.look for business money else where...this business you're about to ventured into now,you don't know how the future go be,it never get stability. No start wetin go give you sleepless night and depression ooo

This is a very good advice
@ POSmecrhant I think u should go with this!
I am currently building & I am seriously regretting postponing certain things I should have done last year on my building project. Everything about prices of building materials have tripled!

yeah

If you've done your market survey very well and knows the business entity well enough you can proceed but 9ja isn't a place where you can just let go off your landed property especially if it's in an Urban area like Lagos.

POSmecrhant:
I have a self contained Flat that's giving me 165k every year. But I want to sell the place to invest in business that will give me 120k to 150k every month, because I'm married now, responsiblites will spring up. and dont want to depend fully on 180k salary.

Could this be good or bad idea?

dude never sell your house oh! And never collect Loan from bank using your house as C.O on it ask your friends for help, please do not sell ur house at this particular time u will regret it in future

Acidosis:
How and why did you increase rent from 400 to 600k within a year?

Don't allow greed set in. Today's inflation rate does not affect the cost of blocks you bought 10 years ago.

So because of that he should be collecting the same rent for 10 years.

You, what is stopping you from telling your employer to pay you the same salary for 10 years?

POSmecrhant:
I have a self contained Flat that's giving me 165k every year. But I want to sell the place to invest in business that will give me 120k to 150k every month, because I'm married now, responsiblites will spring up. and dont want to depend fully on 180k salary.

Could this be good or bad idea?

Omoh don't try it

POSmecrhant:
I have a self contained Flat that's giving me 165k every year. But I want to sell the place to invest in business that will give me 120k to 150k every month, because I'm married now, responsiblites will spring up. and dont want to depend fully on 180k salary.

Could this be good or bad idea?

Take out a loan using ur house as collateral instead, that way u can still get ur house back

POSmecrhant:
I have a self contained Flat that's giving me 165k every year. But I want to sell the place to invest in business that will give me 120k to 150k every month, because I'm married now, responsiblites will spring up. and dont want to depend fully on 180k salary.

Could this be good or bad idea?

Please, are you okay

In this present Nigeria

Get source elsewhere if you are so sure of the business, get from bank

A fraudster has brainwashed the OP's brain.E no go pass Ponzi scheme or crypto-fraud.Them do jazz you.

If you have not started the business before, don't sell the house to start the business. Instead, look for money elsewhere or get a loan. If you have started the business and looking for funds to expand it, in that case you can sell the house.

Business no easy like that oooo

I gave my dad more than 2m to support his residential building. Even though they are living inside already there's still more money to be spent on it.. perimeter fencing painting, compound flooring etc. See building a house should come after your business has been fully set up otherwise it's much profitable living in rental while building your empire.

Even the bible said so "prepare your business afterwards build your house" and not the other way round.

chiedu7:
Take out a loan using ur house as collateral instead, that way u can still get ur house back

Gbam, that is if he's so sure of the business o

Sell your house then perch on a tree and do your business