₦airaland Forum

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?

Mumu man

Start the business with little money. If it shows promise, use the house to get a loan of 80% of the value in order to scale the business. Ensure the repayments are less than the returns from the business. The only reason you should sell the house is if you are absolutely certain your business would provide three times the rate of inflation.

Op is not as if am against you selling your house but this one you are thinking of selling it in order to start a business, abi do you have another house to stay as shelter in case you are thinking of selling this one?
Secondly do you have any lucrative business in mind that can give you such amount a month?
Lastly even if you have one business in mind, how sure are you that you will be able to make such profit monthly?
Op think thoroughly about this idea you are doing so you don't end up regretting 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?

I won't advise you to sell the house, rather, you can lease it out for short let services, rather than yearly payment. You can earn up to 300k per month depending on location and amenities. Check out www.spaceet.com to list your apartments. Also, they help your potential 'bookers' find you.

Your house is already a growing business.

Check my profile.

sqated:
Location and price?

Check my profile.

ignis:
What is the current worth of the house?


Howmuch do you want to sell the house?

RapistOnBail:

I would rather stay in a rented apartment and amass billions and then build a retirement home so I could relax when I’m old.

Op,

Sell that house. You no come this life to come relax. I know you are still young. You can start up that business and grow it.

Naturally, your instinct go tell you when you need to relax and let the younger generation run your business.

Use your head!

The people advising you against selling off that liability called house never hold enough money for hand when them Dey young and active.

A house is never a liability, has never been a liability and will never be a liability. If the house is well titled, you may use it for a loan then try your business and give yourself a chance. Stay good bruv

klbakare:
A house is never a liability, has never been a liability and will never be a liability. If the house is well titled, you may use it for a loan then try your business and give yourself a chance. Stay good bruv

Yeah I understand you a lot.

Where a house becomes a liability is when there’s little or no source of income to the landlord for maintenance of the building.

Little things like roof leakage, damaged pipes, plumbing issues and many more little things would make that house become a liability.

I agree with the loan aspect. That’s if the terms of the loan is friendly.

Good day

I want to sell off mine also. Check my profile.

ajayiopy:
1) WHAT IS THE VALUE OF YOUR PROPERTY?
2)HOW MUCH DO YOU NEED FOR THE BUSINESS ?
3)CAN YOU GET THE VALUE AS LOAN IN BANK?

In case you want to buy house, I have a two bedroom flat for sale in Umuahia Abia state.
Price is 5 million naira.

MOTOPARK:
what made you think that the 'grass is always' greener at the other side.

All the people I know who moved. Including one just last month.

Check my profile.

Chitonny:
Pls what’s the bizness u wanna start cos me I have cash laying around I’m looking for a bizness to invest on

RapistOnBail:

I would rather stay in a rented apartment and amass billions and then build a retirement home so I could relax when I’m old.

Op,

Sell that house. You no come this life to come relax. I know you are still young. You can start up that business and grow it.

Naturally, your instinct go tell you when you need to relax and let the younger generation run your business.

Use your head!

The people advising you against selling off that liability called house never hold enough money for hand when them Dey young and active.

This is not a good advice. Op shouldn’t sell his house. He should look for the business money else where. Except if Op has other buildings then selling this one might not be a bad idea.

Lightway:
Mumu man

say that to ur papa

Check my profile for the property.

adelafe2019:
Pls. do not waste your time advising the o.p. because he hide certain information that will enable us to give very reasonable advice: 1. How much does he expect to sell the house? 2. How much does he need for the business? 3.What business model ( type of business) does he want to invest the money?
Answers to above questions are input to an accurate answer/advice.

A plot of land with german floor of 4 units of 3 bedroom flats in Royal Garden City Estate at mowe/ofada for sale.

It is along new Lagos-Abeokuta expressway with massive development and a newly tarred road.

NEIGHBORHOOD:
Nestle Plc
International Breweries
Olam Oil
Gold Refinery

Documents:
Estate C Of O
Letter of Allocation
Deed of Contract
Deed of Assignment
Survey Plan
Easy Change Of Ownership

I own it. The land is well situated and not rocky. It is rather very plane and not water lodged. Check my profile for pictures or contact me for pictures and video.

Other estates nearby are:
Arch View Estate
Queens Garden Estate
Queens Park Estate
Royal Park Estate
Treasure Island Estate

There are already occupants in these estates.

9 million naira
Negotiable.


For inquiry/inspection:
Al
Tel: 0 NINE 0 6610 0469

Acidosis:
Another poor man mentality. How's 150k rent per annum (less than 13k per month) better than a thriving business?

Senior brother to Dangote....... according to warri people.. you be wiseman wey dey die for mugu backyard

Take a loan with it instead if you're sure of the business

RapistOnBail:

I would rather stay in a rented apartment and amass billions and then build a retirement home so I could relax when I’m old.

Op,

Sell that house. You no come this life to come relax. I know you are still young. You can start up that business and grow it.

Naturally, your instinct go tell you when you need to relax and let the younger generation run your business.

Use your head!

The people advising you against selling off that liability called house never hold enough money for hand when them Dey young and active.

You are seeing an old rickety house.
You forget the house isn't built in the sky but on a land?
When he sells that house, he's selling two never depreciating values off : a house and a land.

Business in Nigeria is unstable. Nothing beats the comfort of your own homes.
From your tone you like luxury, do you know how much a luxury apartment cost to rent?
Think of how much the landlord makes if he has 3 to 4 units of such apartments?

tonididdy:
You are seeing an old rickety house.
You forget the house isn't built in the sky but on a land?
When he sells that house, he's selling two never depreciating values off : a house and a land.

Business in Nigeria is unstable. Nothing beats the comfort of your own homes.
From your tone you like luxury, do you know how much a luxury apartment cost to rent?
Think of how much the landlord makes if he has 3 to 4 units of such apartments?

Just my own opinion tho.

Why no try build more houses

Selling the house is not the issue..
Do you have a sustainable and preplanned way of making money outside that business?
Imagine if it crashes, do you have a plan B

Selling or borrowing to eat is a very risky and bad way , but selling or borrowing to invest to get more money is a wise choice

I do tell my students
The Internet is too wide fam, there are alot of legit online business that won't require such drastic action and still promises massive dividends.

Just find one small corner and plug yourself inside. Stay consistent long enough and watch how things begin to fall in place.

I don't care if it's Affiliate Marketing or not, just find 1 place on the Internet and plug yourself inside.

emmanuelbrown26:
Nice advice sister mi, happy new week

Happy new week to you too.

OP it's a very bad and terrible idea. Look for means to raise that money for investment or than selling a landed property to start business.

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

Gbam, l have a friend who made a terrible Mistake of selling his house, He sold it around 2019 I think for about 7000 dollars.


He took the money and went to establish ( bed and breakfast hotel) business in East Africa, he rented a place in East Africa and converted it to a hotel and got it enlisted on booking.com.

He operated the business for like 7 to 9 months and before you know it COVID- 19 started late 2019 and I hope you know that Hotel business was destroyed worldwide and this my friend must be regretting why he sold his house and went to invest it in hotel business and Covid 19 came to bury his business.


The summary of my narrative is this >> do not sell your house and use the money for business because anything can happen to that business and you will be heading to the bottom of the Atlantic Ocean

When did a house become a liability?

RapistOnBail:

I would rather stay in a rented apartment and amass billions and then build a retirement home so I could relax when I’m old.

Op,

Sell that house. You no come this life to come relax. I know you are still young. You can start up that business and grow it.

Naturally, your instinct go tell you when you need to relax and let the younger generation run your business.

Use your head!

The people advising you against selling off that liability called house never hold enough money for hand when them Dey young and active.

AntiMen:
Is crypto a fraud?

The scheme is mainly operated by scammers and to hide illicit funds.

sayittome:
When did a house become a liability?

When there’s no money for maintenance

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?

Sell what? This one no be ordinary eyes, this is unbelievable.

ok. nice one

RapistOnBail:
When there’s no money for maintenance

RapistOnBail:
Just my own opinion tho.

It's the opinion of "in my own opinion, not a smart thinker"