₦airaland Forum

Hello Nairalanders, trust you are doing fine.

I will like you to share your experience with us on how you were able to fund the building of your first duplex, from land acquisition to building, to finishing. How many bedroom, how many suspended floors, what kind of finishing, and in what part of the country?

How much did the entire project cost? Did you take a loan? If yes, what was the percentage interest per annum?

How long did the project take from start to finish?

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Again I will say it one more time!

The obsession to "build" house and be called landlord or home owner is one of the major reasons many Nigerians are stagnant in life.

You toil for 10yrs and finally make your first 10 to 100million naira and the first thing that tops your agenda is to start building a house. Then you Bury all the money in the ground reverting to square 1.

That money is supposed to be your capital, you're supposed to put it back to wherever you got it from for profit or you can reinvest it somewhere else.

Then when your profit grows big you can upgrade your cars and maybe start building a house.

I currently own duplexes across 3 states mostly in Lagos and my home state, I didn't achieve that with my first breakthrough, I did it after lots of reinvestment.

If you want to go far in life, follow this simple logic, don't let the standards set by society control your money.

4 weeks

😕😕What type of yeye question be dis,
to even warrant getting to front page❓❓

There are several ways of financing building project.
However, project financing are mostly done for commercial purposes as most individual building projects in Nigeria are self financed.
"Some projects can be self-funding, which means that the earlier work stages generate enough revenue to fund the later work stages. External financing of projects can take the form of loans, funds from shareholders, venture capital, grants, donations, subsidies, 'crowdfunding', and so on"

Attached is a 3D design for a client,

Project Duration= Dec 2022 - May 2023 (6months)
Location: Lagos Island
Project Value: 37m (Excluding Land Acquisition)

Project is self financed. The client intend to put it up for short let

Used 1 year to do strictly business and made sure I saved money for the project

Started and finished it in 4 months (1 storey)

Na wetin tie me down be this ooo

After my NYSC in 2019 ... I stayed back in ILLELA Sokoto state, I hustled till I got like 3mill... sent it home(not at once ooo) for them to help me build... E reach roofing stage... banditry set in...it made business to slow ... I dey stuck in the middle of no where... I just dey pray make banditry stop so that business can go back to normal... We are the ones facing the banditry menace first hand.... I thank the almighty Sha... Once there is Life... you know the rest...

Not for the faint hearted

Hmmmm
No body is talking about construction now o. We are just praying for survival of this calamity we call government. We should declare May 30 a national day of thanksgiving for surviving this 8 tumultuous year.
Now how do contractors pay their workers who mostly don't have account numbers

Following. Lesson time.

I used 200 million to buy land.

100 million to build the house.


Imagination wee not kill me.

I can achieve it sha

Still Battling with my first

Roofing to be completed next week.

16m gone

Delta state

First duplex? I no get duplex. Na dunlop i dey manage

Building a house is not a child's play. Kudos to those who have succeeded in doing so

Thiefnubuu

Okay, let have your practical experiences.

Building materials are fucking expensive now.

All thanks to BOA and the gods of our land.

8m total 2011

Interested

Na who una wan "intimidate" this morning?