₦airaland Forum

emmatony:
Thank you very much. I may just hold on till January 2026, being that I am not under any financial stress at the moment. I will use this time to learn more about investments

bassdow:
I already sensed He's made up his mind already. Most people do when they ask such questions. Hopefully He doesn't regret it later. Ignore the buying another land talk.

DonnyE:
Hello, furnish us with more information to better assist you with this decision.
1. Location of the property.
2. Original cost with land included.
3. Annual Rental value.
4. Proposed selling price.

Cheers

Josipov:
Please I'm new here
A friend of mine referred me to this forum to find out about stanbic mmf
More than 400 pages to read
Please where do I start?
My kind of work barely afford me the time to visit any bank during work hours

emmatony:
. No, I haven’t decided yet. Let me explain more about why I’m considering selling the house. I built the twin two-bedroom flat apartment for about ₦22 million. The rent in that area is around ₦300,000 to ₦400,000 per year, which means I would earn about ₦600,000 to ₦800,000 annually for the two flats. The house is still new, as no one has moved in yet. However, I recently realized that I could have used that money for an investment instead of building the apartment. There are still plots of land available in that area that I can buy.

emmatony:
Thank you very much. The property is located in Keffi, Nasarawa State. I built the twin two-bedroom flat apartment at a total cost of ₦22 million, including the land, which I originally bought for ₦750,000. Currently, land in that area is valued at around ₦5 million. The annual rental value is between ₦600,000 and ₦600,000 for both flats combined. The house is still brand new—no one has moved in yet. My proposed selling price for the property is ₦30 million.

bassdow:
Now this additional informations throws better light.

If you know that there still are lands in said area, and by selling the house, the SELLing price would cover both cost of building + inFlation + some profit, then be sure to sell, deduct the profit and invest in MMF, then use the rest of the funds to buy another Land in same emviroment. Mind you, you still got to secure said lnad by doing some perimeter fencing.

MeanWhile, kindly do note that the interest rates wouldn't always remain high. Just thought we should remind us that.

DonnyE:
Great, I am in a similar situation but in my case I have not built a house but I have the money to buy land and build the house. But this is what I intend to do. Please take note this is not financial advice, this is my personal decision.
If you can actually sell the property for 30 million I would advise you sell and buy another landed property for 5 million and then invest 5 million naira in Nigeria and US stock market.While you hold onto to 20 Million naira and invest that in either Treasury bills in Nigeria or Money Market funds for monthly cash flow, remember cash is king. Take note please this is not financial advice. This is what I personally would do since i am also in a similar situation. Even if rent goes up to 500k per unit I would still take you 30 years to recover your initial capital not even factoring in repairs that would be coming up with those years. Now, even if you decide to see the property by 20 or 30 years time. The value of the house would not matter ONLY THE VALUE OF THE LAND would matter in 20 to 30 years time.

Cheers

emmatony:
Thank you very much. I truly appreciate it

Creditalerts:
If I invest 3 million on stanbic mutual fund can I pull out my investment anytime?

Creditalerts:
If I invest 3 million on stanbic mutual fund can I pull out my investment anytime?

Creditalerts:
pls I need reply on this

Saybal:
Mostly the rent yield is not more than 5% of the current value of the house ,you can sell the house and invest the money on fg bond of 10yrs at least you are sure of collecting 17% yield yearly plus your investment value in 10yrs

You can use your yearly interest payment to buy land and build house

Forget about the guy talking about fg defaulting in interest payment .

Note .
This is not a financial advice DYOR

bassdow:
At the moment, the rate is approximately 17% hence should you invest 3-million naira today, you are sure of at least
₦551,675.18 per year and the money would increase the next year if you keep allowing it compound

Creditalerts:
thank you pls can I withdraw my investment anytime I want ?

emmatony:
Thank you very much. The property is located in Keffi, Nasarawa State. I built the twin two-bedroom flat apartment at a total cost of ₦22 million, including the land, which I originally bought for ₦750,000. Currently, land in that area is valued at around ₦5 million. The annual rental value is between ₦600,000 and ₦600,000 for both flats combined. The house is still brand new—no one has moved in yet. My proposed selling price for the property is ₦30 million.

emmatony:
Thank you very much. The property is located in Keffi, Nasarawa State. I built the twin two-bedroom flat apartment at a total cost of ₦22 million, including the land, which I originally bought for ₦750,000. Currently, land in that area is valued at around ₦5 million. The annual rental value is between ₦600,000 and ₦600,000 for both flats combined. The house is still brand new—no one has moved in yet. My proposed selling price for the property is ₦30 million.

emmatony:
Thank you very much. The property is located in Keffi, Nasarawa State. I built the twin two-bedroom flat apartment at a total cost of ₦22 million, including the land, which I originally bought for ₦750,000. Currently, land in that area is valued at around ₦5 million. The annual rental value is between ₦600,000 and ₦600,000 for both flats combined. The house is still brand new—no one has moved in yet. My proposed selling price for the property is ₦30 million.

floridam:
All of the time, buyers want to buy far cheaper than the selling price.
The fact that an asset is worth an amount does not mean you can easily get buyers who are willing to pay for it almost immediately or within a short period of time especially when millions are involved.
In my opinion boss, if you get a buyer who is willing to pay a little less than your selling price, sell (If you badly need your money liquid) otherwise don't sell if you are not under any financial pressure. I won't be surprised when potential buyers are asking to purchase for N15M, na their way.
A piece of land of N5M is still not in an area developed enough to attract buyers who can afford to pay N30M for a completed building.
Your building should be one of the most beautiful in the area if i guess right .

emmatony:
I would like to inquire about the implications of the new tax law scheduled for next year. Specifically, how is this law expected to affect money market funds (MMFs)?

Odunharry:
Expect WHT on short term investment.
I will look for detailed info and share once I have it

freeman67:
WHT wey they don dey collect for CP siiiiiiiiinnnnce.

Odunharry:
Yes Boss I know this.
I am surprised hearing some banks don't charge WHT on tbills

richgang:
which banks don’t charge WHT . Gtbank took 10percent from my profit as WHT . .