Seriously, I've stopped reading the hype of these guys abroad because they're making some of us feel less achieved.

One was talking about a project of #250M hotel completed in Nigeria and I don't even know if na this same abroad I dey with them too. Also talked about him being here for just two years or so and he's bought a condo home, build many hostels for student in Nigeria and on his way to complete a #250Million hotel in Nigeria also.

I been here in this abroad and I can't even boast of $10k USD. It's well Sha. I just hope they're not lying with all these things they're saying.

Drug and Yahoo

250m is close to $400,000 USD.. for you to pay your bills mortgage and still have $400k left to build an hotel in Nigeria, you must be earning $50k a month like an athlete



.

Moh247:
Drug and Yahoo

250m is $500,000 USD.. for you to pay your bills mortgage and still have $500k left to build an hotel in Nigeria, you must be earning $50k a month like an athlete

Same thing I thought o. Because ehn, jokes apart, it's not easy

irumole1975:
Seriously, I've stopped reading the hype of these guys abroad because they're making some of us feel less achieved. One was talking about a project of #250M hotel completed in Nigeria and I don't even know if na this same abroad I dey with them too. Also talked about him being here for just two years or so and he's bought a condo home, build many hostels for student in Nigeria and on his way to complete a #250Million hotel in Nigeria also. I been here in this abroad and I can't even boast of $10k USD. It's well Sha. I just hope they're not lying with all these things they're saying

Irumole So, you had to create a thread because of my jeje submission on another thread

250milla is just about $350k. So, that's too much for you to achieve in US within 4 years. Well, we don't do same job. One thing I will say, you will never know what you can achieve if you don't try. And please, do not take me out of contest Go back and read my post very well

Moh247:
Drug and Yahoo

250m is $500,000 USD.. for you to pay your bills mortgage and still have $500k left to build an hotel in Nigeria, you must be earning $50k a month like an athlete

If you dey US and you have good credit scores, then the sky is your limit

irumole1975:


Same thing I thought o. Because ehn, jokes apart, it's not easy

Don't think everyone does drugs like Tinubu. You said you are in US, what's your credit scores? I will point you to the right direction and you will get money to help you in achieving magic

OgaTheTop2:
If you dey US and you have good credit scores, then the sky is your limit

Living off loans is very risky.. say you are an IT guy with $3,307 to $7000 paycheck after fed and state tax, your Credit score is 700.

If you pay $2000 rent, car insurance, phone and other bills .. how then will you comfortably save to have a 350k hotel in Nigeria, with hostels here and there


.

Moh247:


Living off loans is very risky.. say you are an IT guy with $3,307 to $7000 monthly after fed and state tax, your Credit score is 700.

If you pay $2000 rent, car insurance, phone and other bills .. how then will you comfortably save to have a 350k hotel in Nigeria, with hostels here and there

Have you ever gotten a loan in US and invested in a business in naija? Repaying the loan is no biggie. Ogbeni, possibilities yapa in Yankee.

Btw, where did I mention hostels here and there? I only just completed students hostel block and looking forward to my next project, which is to build a hotel worth 250m. Yo no believe am?

OgaTheTop2:
Have you ever gotten a loan in US and invested in a business in naija? Repaying the loan is no biggie. Ogbeni, possibilities yapa in Yankee.

Btw, where did I mention hostels here and there? I only just completed students hostel block and looking forward to my next project, which is to build a hotel worth 350m. Yo no believe am?

All man with him way... It's about financial Intelligence... But according to the O.P no be everybody go shore up over $500,000k investment portfolio in 2 years as a Japarian in US



.

Moh247:


All man with him way... It's about financial Intelligence... But according to the O.P no be everybody go shore up over $500,000k investment portfolio in 2 years as a Japarian in US

Yeah, I understand. But that Irumole OP can lie and fabricate stories. That's not fair. I have been in US for like six years now. I only started my business four years and I am more than comfortable and satisfied. Yeah, it's not easy but If it doesn't work for you don't mean it won't work for others. Peace

irumole1975:
Seriously, I've stopped reading the hype of these guys abroad because they're making some of us feel less achieved. One was talking about a project of #250M hotel completed in Nigeria and I don't even know if na this same abroad I dey with them too. Also talked about him being here for just two years or so and he's bought a condo home, build many hostels for student in
Nigeria and on his way to complete a #250Million hotel in Nigeria also. I been here in this abroad and I can't even boast of $10k USD. It's well Sha. I just hope they're not lying with all these things they're saying

I always like to do the maths.
N250,000,000/750=$330,000.
That's at 750 naira exchange rate

That's $330k net in 2 years i.e earning average of $14,000 per month. To earn $330k in 2 years you must earn net of $167,000 or gross of $260,000 per year. That's average of $125 per hour working 8hours per day non stop for 2 years. Let's even assume they do two jobs i.e 16 hours per day. That's $62.5 per hour. I can't wrap my head around two jobs that pay $62.5per hour that you can do consistently for two years without issue and not have mental breakdown.

Let's assume it's a 2 income home. That's $130k for each partner. Seems doable with two incomes without any SPENDINGS. And you stated that's not the only project they have.

Except that friend of yours and their spouse works in IT or Health or sales where they net $300k yearly then i call bullshit at their stories except they have other incomes they have not yet disclosed to you. Maybe import cars? Even that isn't profitable given the inflation in the west in the last 2 years due to covid. That friend is into fraud or is absolutely lying.

Edited. Just read the submission of others on the thread.

So take loans at what interest rates? 4.75%? Maybe 2 years ago when it was 0.25% i can understand. It was like free money but the cash flow doesn't even make sense. From a finance perspective that person would have to invest in Nigeria and make money in Naira to pay back such loans. Or probably they have it for long term and intend to use their US earnings to pay such loans back. Extremely risky but if you don't take risks. You can't earn. No one should try this at home.

irumole1975:
A particular moderator on nairaland travel thread is beefing me simply because I'm doing better than him. Days ago, I shared about my desires to travel to Canada. And because of jealousy, I was blocked from posting there.

Since I clocked 37years last year, I've been thinking seriously about my life. It then dawned on me that I have to leave this Nigeria for good. Many opportunities abound abroad. And I don't need to work before I become a millionaire over there And start my own company. Ordinarily, I admire the white people. Because they don't sin, lie, not corrupt and they're the most sane individual on earth. If given chance, I can eat poo so far it's from white people.

However, I don't have the means to travel out and I'm hoping a white man adopt me from Nigeria and take me abroad. I'll start working and giving him my salary. I can also sell my properties to relocate, but my friends advised against this.

irumole1975:
America is a land of the sane no matter how you paint it. People there don't sin. I can sell my soul to be there. Once you're in America, your life is better automatically. Imagine living in a country where u don't have to work. Just breath and government pay you. The salary of a cleaner in the USA is better than what a senator in Nigeria take home.

Nothing is.more glorifying than abroad. Even if it means enslaving, it's worth it

I've been able to save over 150k for my relocation purpose. I'll get to the US and start making million of dollars

i laugh in Spanish . People dey believe op say him dey abroad , lmao . Somebody wey never step foot outside Nigeria

Doctors, IT peeps, power couples( doctor + doctor kinda couples), drugs and yahoo boys can earn that much. Na to just dey your dey dey do your thing jejely fa. We all run different races. May God's grace be our lot.

onegig:


I always like to do the maths.
N250,000,000/750=$330,000.
That's at 750 naira exchange rate

That's $330k net in 2 years i.e earning average of $14,000 per month. To earn $330k in 2 years you must earn net of $167,000 or gross of $260,000 per year. That's average of $125 per hour working 8hours per day non stop for 2 years. Let's even assume they do two jobs i.e 16 hours per day. That's $62.5 per hour. I can't wrap my head around two jobs that pay $62.5per hour that you can do consistently for two years without issue and not have mental breakdown.

Let's assume it's a 2 income home. That's $130k for each partner. Seems doable with two incomes without any SPENDINGS. And you stated that's not the only project they have.

Except that friend of yours and their spouse works in IT or Health or sales where they net $300k yearly then i call bullshit at their stories except they have other incomes they have not yet disclosed to you. Maybe import cars? Even that isn't profitable given the inflation in the west in the last 2 years due to covid. That friend is into fraud or is absolutely lying.

Edited. Just read the submission of others on the thread.

So take loans at what interest rates? 4.75%? Maybe 2 years ago when it was 0.25% i can understand. It was like free money but the cash flow doesn't even make sense. From a finance perspective that person would have to invest in Nigeria and make money in Naira to pay back such loans. Or probably they have it for long term and intend to use their US earnings to pay such loans back. Extremely risky but if you don't take risks. You can't earn. No one should try this at home.

Bingo! That's just it. It works for me all fine and I am enjoying it and making money. Money makes more money bruh..

Sirqt5:




i laugh in Spanish . People dey believe op say him dey abroad , lmao . Somebody wey never step foot outside Nigeria

He posted that comment in June 2022, it's possible that he has moved abroad since then

irumole1975:
Seriously, I've stopped reading the hype of these guys abroad because they're making some of us feel less achieved. One was talking about a project of #250M hotel completed in Nigeria and I don't even know if na this same abroad I dey with them too. Also talked about him being here for just two years or so and he's bought a condo home, build many hostels for student in Nigeria and on his way to complete a #250Million hotel in Nigeria also. I been here in this abroad and I can't even boast of $10k USD. It's well Sha. I just hope they're not lying with all these things they're saying

You can't do what they're doing, only selling of ashishi is money here, but Can you risk doing that? Moroccans, Tunisia, Albania immigrants are doing this illegal drugs stuff and Europeans are tired of them, because once you deport one, he will tell his brothers over there in Tunisia, Romania, Morrocco etc that there is money selling drugs over here. he will mobilise along with him more 10 of his kind into journey to go back through water or shipping smuggle route the next day. They're plenty of them here returning after deportation, the police won't do anything to them. They disturb people to buy stuff even In front of surveillance cameras and near police stations. They're not Afraid going to jail or being deported.
My oyibo oyibo colleagues will buy those little Maggie stuff of 5gram for 100euro... This is what an honest worker like you won't get for a week depending on your job.

irumole1975:
Seriously, I've stopped reading the hype of these guys abroad because they're making some of us feel less achieved. One was talking about a project of #250M hotel completed in Nigeria and I don't even know if na this same abroad I dey with them too. Also talked about him being here for just two years or so and he's bought a condo home, build many hostels for student in Nigeria and on his way to complete a #250Million hotel in Nigeria also. I been here in this abroad and I can't even boast of $10k USD. It's well Sha. I just hope they're not lying with all these things they're saying

You are not doing well brother, to be honest with you.



If you are not in the IT or Medical field, and not ready to be doing overtime every month, then you are not ready to break financial boundaries.



Forget people telling you its Yahoo, its wirewire, not entirely true.



Imagine if you get a job paying you $90,000 to $135,000 per year and you live a frugal life and save 50% of your annual income.


In 3 to 5 years you should be able to build a 9 flat 2storey apartment in a Nigeria state capital.

onegig:


I always like to do the maths.
N250,000,000/750=$330,000.
That's at 750 naira exchange rate

That's $330k net in 2 years i.e earning average of $14,000 per month. To earn $330k in 2 years you must earn net of $167,000 or gross of $260,000 per year. That's average of $125 per hour working 8hours per day non stop for 2 years. Let's even assume they do two jobs i.e 16 hours per day. That's $62.5 per hour. I can't wrap my head around two jobs that pay $62.5per hour that you can do consistently for two years without issue and not have mental breakdown.

Let's assume it's a 2 income home. That's $130k for each partner. Seems doable with two incomes without any SPENDINGS. And you stated that's not the only project they have.

Except that friend of yours and their spouse works in IT or Health or sales where they net $300k yearly then i call bullshit at their stories except they have other incomes they have not yet disclosed to you. Maybe import cars? Even that isn't profitable given the inflation in the west in the last 2 years due to covid. That friend is into fraud or is absolutely lying.

Edited. Just read the submission of others on the thread.

So take loans at what interest rates? 4.75%? Maybe 2 years ago when it was 0.25% i can understand. It was like free money but the cash flow doesn't even make sense. From a finance perspective that person would have to invest in Nigeria and make money in Naira to pay back such loans. Or probably they have it for long term and intend to use their US earnings to pay such loans back. Extremely risky but if you don't take risks. You can't earn. No one should try this at home.

Stop the mathematics, it is possible if you are smart and leverage on the US Nigerian sides.



A friend once took a loan in the US when Dollar shot to 900 and used it to buy land around Lekki phase 2 and built a semi detached duplex which he resold within a year and doubled his money and repaid the loan.



I know another who takes US loan to buy used laptops and mobile phones and sell in Nigeria to make a lot of money on a steady basis.



I know a lot of what guys do to make huge money leveraging on US Nigeria sides, but I wont be revealing more here for now.




Stop thinking those making money abroad more than others are just making all the money by working their ass off, most are leveraging on abroad Nigeria ends of business.


That's one of the advantage of having trusted, reliable friends and family back in Nigeria when you travel abroad, they help you grow faster through businesses and other profitable ventures without ripping you off

irumole1975:
Seriously, I've stopped reading the hype of these guys abroad because they're making some of us feel less achieved. One was talking about a project of #250M hotel completed in Nigeria and I don't even know if na this same abroad I dey with them too. Also talked about him being here for just two years or so and he's bought a condo home, build many hostels for student in Nigeria and on his way to complete a #250Million hotel in Nigeria also. I been here in this abroad and I can't even boast of $10k USD. It's well Sha. I just hope they're not lying with all these things they're saying

Just focus on yourself.
As long as you're working hard, and doing your best, don't allow yourself to feel underachieved.
Don't be too bothered by what you see, read, or hear.

Trade day pay big time abroad


My guy way be plumber for Strasbourg day cash out £80,000 per week

franchasofficia:
Stop the mathematics, it is possible if you are smart and leverage on the US Nigerian sides.



A friend once took a loan in the US when Dollar shot to 900 and used it to buy land around Lekki phase 2 and built a semi detached duplex which he resold within a year and doubled his money and repaid the loan.



I know another who takes US loan to buy used laptops and mobile phones and sell in Nigeria to make a lot of money on a steady basis.



I know a lot of what guys do to make huge money leveraging on US Nigeria sides, but I wont be revealing more here for now.




Stop thinking those making money abroad more than others are just making all the money by working their ass off, most are leveraging on abroad Nigeria ends of business.


That's one of the advantage of having trusted, reliable friends and family back in Nigeria when you travel abroad, they help you grow faster through businesses and other profitable ventures without ripping you off

That was how a friend of mine took loan in the UK in 2010 and bought a land in Lekki. The land was not a genuine one. She ended up repaying the loan with her salary. It was not easy for her.

This high risk money making scheme is not always as simple as u guys put it. A lot is involved.

Though some may be boasting but to raise 250m in naira is not hard for a real estate investor in US.

I believe so much in real estate investment and my new focus is on smaller cities with good prospects.

A lot of guys in the States especially Anambra boys are into real estate and they flip homes all the time which is how some of them get legit money to oppress people back home.

Don't hit yourself too hard, save another 10k making your savings 20k, use it as down payment to buy a home in a small city near you. Don't buy single family home, buy multi family so you can easily rent it out.

The rent you collect will pay the monthly mortgage and still give you some change. Don't use first time home buyer credit because IRS will make you pay it back oo.

After paying the mortgage for two years, buy a second multi family home and grow from there.

Don't worry about the IRS and rental income taxes because you can write them off as expenses when you file your tax return.

The first move to escape low class in the States is to buy a home because paying mortgage is like putting money into your own bank unlike paying rent.

Shalom.

amtheone:


That was how a friend of mine took loan in the UK in 2010 and bought a land in Lekki. The land was not a genuine one. She ended up repaying the loan with her salary. It was not easy for her.

This high risk money making scheme is not always as simple as u guys put it. A lot is involved.

That is the advantage of having trusted and reliable friends and family members in Nigeria when you travel abroad.


Having a trusted team helps one grow faster in life.


I also fell victim of buying undocumented land in Lekki, and I will blame myself for not doing proper research through the right channels.



Paying a lawyer to go to Alausa secretariat to verify status of a land in Lagos pays

JeffreyJunior:
Though some may be boasting but to raise 250m in naira is not hard for a real estate investor in US.

I believe so much in real estate investment and my new focus is on smaller cities with good prospects.

With the current market rate, all I need do to raise even double that amount in dollars is refinance one of my rental properties in SoCal and cash it out, but investing the money in Nigerian market especially hotel business is one stupid move I can not make.

A lot of guys in the States especially Anambra boys are into real estate and they flip homes all the time which is how some of them get legit money to oppress people back home.

Don't hit yourself too hard, save another 10k making your savings 20k, use it as down payment to buy a home in a small city near you. Don't buy single family home, buy multi family so you can easily rent it out.

The rent you collect will pay the monthly mortgage and still give you some change. Don't use first time home buyer credit because IRS will make you pay it back oo.

After paying the mortgage for two years, buy a second multi family home and grow from there.

Don't worry about the IRS and rental income taxes because you can write them off as expenses when you file your tax return.

The first move to escape low class in the States is to buy a home because paying mortgage is like putting money into your own bank unlike paying rent.

Shalom.

You are revealing too much in an open forum, learn to keep some things to yourself

franchasofficia:
You are revealing too much in an open forum, learn to keep some things to yourself

The aim was not to reveal but to help the brother who said he had 10k savings or so.

If he focuses on me and not my advice on how he can advance with that saved amount, then he will be a fool.

Thanks by the way for your advice. Notes taken.

irumole1975:


Same thing I thought o. Because ehn, jokes apart, it's not easy

If you have someone in Nigeria that you can do business with, that you can be supplying fairly used items (like home appliances) that are in good condition, those items sell well in Nigeria.

Leftwing people tend to equate any and all economic equality with crookedness.

They think the only explanantion for which rich people have more money than others, is because the rich stole wealth from everyone else — This is foolish.

There are many reasons some people make more money than others, because they are more competent. 💯

Competence differentials often explain inequality of outcome, some people make more money than others because they are more competent.

Luck is another reason; Some people get lucky, while others are unlucky. 👌🏽

Failure2019:
Trade day pay big time abroad


My guy way be plumber for Strasbourg day cash out £80,000 per week

What does he trade on?

franchasofficia:
Stop the mathematics, it is possible if you are smart and leverage on the US Nigerian sides.



A friend once took a loan in the US when Dollar shot to 900 and used it to buy land around Lekki phase 2 and built a semi detached duplex which he resold within a year and doubled his money and repaid the loan.



I know another who takes US loan to buy used laptops and mobile phones and sell in Nigeria to make a lot of money on a steady basis.



I know a lot of what guys do to make huge money leveraging on US Nigeria sides, but I wont be revealing more here for now.




Stop thinking those making money abroad more than others are just making all the money by working their ass off, most are leveraging on abroad Nigeria ends of business.


That's one of the advantage of having trusted, reliable friends and family back in Nigeria when you travel abroad, they help you grow faster through businesses and other profitable ventures without ripping you off

You said it all. Doubting Thomases can continue to doubt..I don't give a rat fvck!

All it takes is solid steady income, good credit, and a good relationship with a bank or credit union.
The guy in question could’ve done it several ways. He could’ve purchased a home that already had a large amount of equity and tapped into that. He could’ve taken a bank loan, he could’ve had a lawsuit and settled, he could’ve done several things.

@op
250m i.e 333k usd is good money in any part of the world. It's not easy to with regular jobs.

The main difference between 9ja and western nations is more equitable access to building blocks of financial freedom. Access to cheap credit e.t.c.

There would have been more investment from diasporeans into the nation if the country's economy and currency was on the right track. Many Indians have done this. They take cheap loans from western nations and invest back home where the room for growth is enormous but with arguably higher risks.