₦airaland Forum

FEGEITOK:
My account of events is complete, unembellished, and I have left nothing out; my line-by-line breakdown and response to the MOU will be shared here.

I did not leave out the part that I part-paid for the documentation fee. Could it be that the promise to pay the balance upon contract award is turning the architect from a service provider into a partner in the business?

At least service providers can see that a debt does not automatically translate into equity in a business.

Posting this here gives service providers a chance to see the client's perspective and conduct themselves accordingly, ensuring they don't miss out on transformative opportunities.

Let me keep mute on the hiring another service provider until I see the response to the line-by-line breakdown of the MOU, although that is an option that is very much on the table.

Dennis3D:
Contact us at Dennis3D Building Designs and Constructions Limited. We got you covered.
This project was designed and built in Hampton Lake Estate - Chevron and the Link is on our profile thread,

We can work out something today if you DM us through our
call or WhatsApp channel: +237038166370.
Or on Facebook and Instagram: Dennis3D design and construction

diordaves:
Rental properties are challenging to be honest. There are rogue landlords and there are nightmare tenants from hell. As a landlord, I don't operate in the luxury market. I rent for the middle class, civil servants, traders and lower end of the market. My experience is positive. By and large, my tenants are reasonable. Fixtures theft by tenants is extreme to say the least.

I do my bit. I don't rent without a rental agreement with all responsibilities spelt out between myself and the tenants. All parties are aware and alive to their responsibilities. As a tenant, you move in with all fixtures working and safe- plumbing, electrics, door locks and windows. When you leave, put back the fixtures to a safe working condition as you met them. If you leave the property damaged more than your deposit, I will seek payment. This is normally in the rent agreement.

kopell:
I have missed out on this debate. You are lucky to have tenets that keep by the terms of your agreements. I will love if you can send me copy of your agreement that spells out responsibilities of both parties. Maybe I should look out on your model targeted market, as an investor the cost of building is almost the same in location where I build, if the tearin is not waterlogged. The only difference is the cost of land, what I have in mainland, the amount it cost to build it is not significant in terms of material cost and labor with island, imagine investing 220m to build and tenet offer 1.2 to 2m rent per year with many owing rent, and end up damaging the property when the they are leaving. They still expect me to fix the same property with the amount the new tenant will pay when moving in, what kind of business is that? These are some of the reasons why some of us choose to keep the property empty or shortlet instead of going through this wahala on yearly basis to save our self from high blood pressure. This increase the pressure to the market. Government that's suppose to intervene by encouraging investors in bringing the cost of building down through there documentation and permit fees are escalating the cost by rising their fee and making the investments less attractive to the investor through their regulations. In other climate, the government encourage investors by giving them a loan with lower rates and providing infrastructure. After that, they enforce regulations that make the homes affordable to the masses.

kopell:
I have missed out on this debate. You are lucky to have tenets that keep by the terms of your agreements. I will love if you can send me copy of your agreement that spells out responsibilities of both parties. Maybe I should look out on your model targeted market, as an investor the cost of building is almost the same in location where I build, if the tearin is not waterlogged. The only difference is the cost of land, what I have in mainland, the amount it cost to build it is not significant in terms of material cost and labor with island, imagine investing 220m to build and tenet offer 1.2 to 2m rent per year with many owing rent, and end up damaging the property when the they are leaving. They still expect me to fix the same property with the amount the new tenant will pay when moving in, what kind of business is that? These are some of the reasons why some of us choose to keep the property empty or shortlet instead of going through this wahala on yearly basis to save our self from high blood pressure. This increase the pressure to the market. Government that's suppose to intervene by encouraging investors in bringing the cost of building down through there documentation and permit fees are escalating the cost by rising their fee and making the investments less attractive to the investor through their regulations. In other climate, the government encourage investors by giving them a loan with lower rates and providing infrastructure. After that, they enforce regulations that make the homes affordable to the masses.

hslbroker2:
We can help you calculate the numbers of woods you need for your roofing also for the roofing, send your building plans and get quotation for your hardwood to roof your house & roofing sheets to cover your house.


call or whatsapp 090-2022-4350

email us @ lifelightproperties@gmail.com

We sell

2x2

2x3

2x4

2x6

3x4

1x12

We sell Aluminum such as
Longspan, stepped tiles, mettecopo e.t.c

We also sell stone coated such as
Bond, classic, milano, shingles e.t.c

Current price now.

Bond N5, 000

Classic N5, 000


Shingle N5, 200

Milano N5, 200

Call me through my signature

God bless you all

diordaves:
You are for the most part right, labour cost are near the same across locations with same topography. For me, I have an eye on the overall cost of the investment against the rental income and affordability/availability of my target audience. So, before I invest in an area I research the going rent structure of the area and the availability of my target audience who can pay the rent without issues. For example, if a three bedroom is going for two million p.a, I know already my target renters can't afford that. Instead of doing the popular four flats of three bedroom in that area, I will do for example Ten Flats of One Bedroom for the same investment amount. I will get more return on investment.

Namoosky:
Builders and Architects in the house please help me critique this proposal my Architect gave me.

The shape of the land is irregular though, but I still feel that he could still do better.

Charisdesigns:
One thing I’ve observed from recent projects is that design strategy affects yield more than people realize.

For example, in a design we did for a member of this thread, instead of doing a conventional 3bedrooms 4 flats on a plot, we explored a compact development of 4 units of mini flats plus a 2-bedroom unit on a standard plot. The idea was to:
1)Target young professionals and small households

2)Spread risk across multiple tenants

3) Increase cashflow frequency instead of relying on one or two big rents

4)Keep structural form simple to control cost by implementing mono pitch roofing style

The real issue in my opinion is not just cost of building, but:
1: Product-market mismatch
2: Overbuilding relative to location
3: Inefficient planning that increases structural and finishing cost unnecessarily

In areas where land cost is high, yield must be solved at design stage, not after construction.

Just sharing a perspective from the design side.

Charisdesigns:
One thing I’ve observed from recent projects is that design strategy affects yield more than people realize.

For example, in a design we did for a member of this thread, instead of doing a conventional 3bedrooms 4 flats on a plot, we explored a compact development of 4 units of mini flats plus a 2-bedroom unit on a standard plot. The idea was to:
1)Target young professionals and small households

2)Spread risk across multiple tenants

3) Increase cashflow frequency instead of relying on one or two big rents

4)Keep structural form simple to control cost by implementing mono pitch roofing style

The real issue in my opinion is not just cost of building, but:
1: Product-market mismatch
2: Overbuilding relative to location
3: Inefficient planning that increases structural and finishing cost unnecessarily

In areas where land cost is high, yield must be solved at design stage, not after construction.

Just sharing a perspective from the design side.

diordaves:
You are for the most part right, labour cost are near the same across locations with same topography. For me, I have an eye on the overall cost of the investment against the rental income and affordability/availability of my target audience. So, before I invest in an area I research the going rent structure of the area and the availability of my target audience who can pay the rent without issues. For example, if a three bedroom is going for two million p.a, I know already my target renters can't afford that. Instead of doing the popular four flats of three bedroom in that area, I will do for example Ten Flats of One Bedroom for the same investment amount. I will get more return on investment.

I also attract and encourage long term renting. I do so by offering rents about 30% below market rate. If the going rate is 1million, my rent will be 700k. This generates a high number of interest and I'm able to filter and eliminate. I give more than one year notice for any increase in rent and I only increase rent just 5% above CBN rate of inflation. If CBN inflation rate is 20% for example, I will only increase my rent by 25% with a year's notice. I don't experience tenant turn-over. My experience, those who rent one bedroom, two bedroom have a longer term renting and are reasonable. Three bedrooms and duplex renters are very notorious and not reliable for the most part.

A signed rental agreement goes a long way too.

kopell:
I can understand your strategy in your research, one thing that is clear today is building 4bedroom duplex or 4bedroom / 3bedroom apartment is complete waste of resources.

Tidot:
It appears you don't reside in Nigeria ot you don't have an idea of renting to the middle class.

There re estates in Lagos precisely on the mainland where rent for a 3 bedroom goes for as high as 7m per annum. There will be long queues of people desperate on viewing days and even attempting to roger the agents.

People are living and still doing extremely well in Nigeria. This class believe in renting in a very comfortable area than owning a house just for the sake of having one in a poor location.

kopell:
I can understand your strategy in your research, one thing that is clear today is building 4bedroom duplex or 4bedroom / 3bedroom apartment is complete waste of resources. Most people that can afford to rent those kinds of places can also afford to build on their own. Those that rent those places without storge stream of income to maintain it, will end up up being landlord in your house. They will lease some of the rooms to their close associates. In market that we operate today in Lagos, even run down neighborhoods, trying to get a land there is more expensive than decent new open areas. These are the reasons those old houses that have a bigger yard are now turning into barracks. Imagine in places where people build their homes according to setbacks rules, due to the cost of land, some of them are now demarcating those setbacks, parking space, to put new buildings on them due to demand and cost of land. I don't know how some of them are getting away with it, This is a very dangerous trend of safety that the government is overlooking. just of recent, I was offered a land somewhere around Ilupeju just half a plot for 300m. Imagine that huge amount, how much to put up a building and expect a return with that huge amount of money. This is happening almost everywhere in Lagos and we expect affordable houses.

Tidot:
It appears you don't reside in Nigeria ot you don't have an idea of renting to the middle class.

There re estates in Lagos precisely on the mainland where rent for a 3 bedroom goes for as high as 7m per annum. There will be long queues of people desperate on viewing days and even attempting to roger the agents.

People are living and still doing extremely well in Nigeria. This class believe in renting in a very comfortable area than owning a house just for the sake of having one in a poor location.

kopell:
Please do me a fervor. I will like to know that location and cost of land in that particular area in mainland or even on island. As I speak a friend has 16 units of 1 bedroom apartments available that we took out renting market after 7 years due to rent wahala.

kopell:
Welldone Dennis

Born2conquer:
What’s the best way to sell a land in Nigeria, Abeokuta precisely. I have been trying to sell my lands in Abeokuta since 2022 to no success

Akinbahm:
Location of the land and what documents do you have on the said land?

sgtponzihater1:
Edo State

sgtponzihater1:
This was a bill I was given to fill my foundation below. Is this cost correct?

"For the filling sand. The laterite sand (red filling sand), we need 35/ 38 trips. A trip here is 120k but I got only one person who agreed 110k a truck owner.
The workmanship I'm yet to see. I want to use Hausa boys which will be cheaper than our people"

darc:
CONTACT FOR your:
1. Architectural Designs,
2. Construction drawings
3. Site supervision & Site management

e.mail: dakitect@gmail.com

ACTIVE

gaeul:
Mine was Benin city,Edo state. 50,000naira per trip for the first 30 trips and 46k/47k for the extra 10 cos I asked for discount. This was few weeks ago

sgtponzihater1:
Thanks. I was told it depends on the area of Edo state. Mind is in Amagba.

I wonder how I can contact you for some advice regarding your builder etc