Chinom:
It's a good investment if you are lucky to live up to 100years. Personally ,I would never tie my money down for so long. Property business is something you should invest in with real idle money. I mean money you don't know what to do with. That's why banks are the biggest investors in real estate.

@Olumide4christ; the cost of land at those places where the rent is 400k to 900k for a 3 bedroom bungalow is in the neigbourhood of 15 to 20million. So by the end of the day, you are back to square 1.

hotmas911:
So what you are saying is a salary earner can just build a block of apartments and sell to banks? For real

chigoizie7:




Aside any other thing u said. Why are we always over pricing things in nigeria?

That 3.5 million can't get a decent 3bedroom flat?

Bros, maybe u are part of the people that spends money anyhow.

I might not have built my own house, but I have handled others, believe u me, I know better. A 3bedroom double flat fit for people to live in, I know 5million did that comfortably. So, why can't 3.5 do a single flat?

tunde2222:
And if it is dat favourable, y is he advertising land 2 be sold. He shld put dem to agric usage

erico2k2:

To your 2nd paragraph. I would say wrong cos in PH you can get N4M land and still charge that much.mine is that range

hotmas911:
You seem not to understand something here. My business is real estate. You can be involved with real estate in many ways. I chose to do it through farming and plantation. The world richest people in real estate are not into buying and selling of land. They do it through hotels, ranches, farm plantation etc

olumide4christ:


Oga erico2k2, please help me explain to them ooo! How is your project going?? Hope its going well.

erico2k2:

Farming is not real estate hence the term real was added.U also do not need to own land to be a real estate developer.

erico2k2:

Farming is not real estate hence the term real was added.U also do not need to own land to be a real estate developer.

hotmas911:
now i see. Since having a farm is not real estate then having an hotel is as well not real estate. SMH
Donald trump is a real estate billionaire but does it through hotels casino and golf courses. It is obvious you guys don't know much in terms of real estate. You think buying and selling is investment??

hotmas911:
now i see. Since having a farm is not real estate then having an hotel is as well not real estate. SMH
Donald trump is a real estate billionaire but does it through hotels casino and golf courses. It is obvious you guys don't know much in terms of real estate. You think buying and selling is investment??

reflx:
nothing beats land and property in my opinion though.
less stress in the long term, first solving my own housing problem then creating housing solutions for others.
you can buy and build, or simply buy and hold to resell.
i know someone who bought a land in port harcourt for 900k like six years ago and sold it last year for over 20M.
no sweat, no headaches, or supervision etc. our population keeps growing and so communities will keep expanding, development improving and land costs in or near the center still increasing. though it is speculated to plateau at some point, real estate for now is a long term wealth spinner while you focus on your day job and still get paid.
except you have a passion for solving the food problem...again as our population increases we have more hungry mouths.
my 2 kobo

olumide4christ:


I'm sorry Bros, but you are very wrong based on the bolded statement above. Please do more research.

I bought a plot of land in Abuja in one of the estates around Trademoore estate, Lugbe, off the Airport road for N3 million + N2 million for infrastructures, making a total of N5 Million. Rent for 2 bedroom flat in that area goes btw N800,000 -N900,000 while 3-bedroom flat goes for N1.2 million.

You can get plots of land for N5-7 million in Ajah and environs and rent for 2 bedroom flat in that area goes for N800,000 and above. You can enquire from @3strike, a popular contributor here in properties section, look for his thread, he is rounding up his property in Ogombo, Ajah. I don't think those flats will be rented out for anything less than N800,000.

Even in my area here in Lagos, lands/old property are available for N9-10 million and rent for standard new 2-bedroom flat goes from N600,000 - N800,000 while 3-bedroom flat goes from N900,000 -N1.2 million.

olumide4christ:


[b]Sorry hotmas911,

Your analysis of the investment in 3-bedroom bungalow is wrong.

1. No STANDARD 3-bedroom bungalow with toilets, car park, fence, soakaway, electrical and plumbing works can be built FOR N4.5 million; it would surely cost more than that, unless the owner/builder decides to cut corners, which many of them do and after a few years, the structure begins to have issues. A standard 3-bedroom bungalow would cost nothing less than N7,000,000 and above, depending on the location.

2. As far as rent is concerned - take Lagos & Abuja as a case study, you can only find a 3-bedroom flat for N250,000 per year in the outskirts of the city e.g. inner parts of Ikorodu, Mowe, Ibafo, etc. A 3-bedroom flat in main city of Lagos (whether standard or sub-standard) ranges from N400,000 - N1.5 million; in the area of Abuja (off the airport road) where I have my personal project, rent for 2-bedroom goes for between N750,000-N850,000. I presently pay N350,000 per year for the 2-bedroom flat where I live somewhere in Lagos, which is quite cheap when compared with going rates. The 3-bedroom flats in the area where I live are going for N700,000 - N1,000,000 per year.

From the above, if you spend N7,000,000 constructing a bungalow & spend N4,000,000 for land (cost of land could vary higher or lower ) , making a total investment of N11,000,000, if you rent out such property at N900,000 per year, you will make N11,700,000 after 13 years i.e. breakeven. Also note that it could be much earlier than this since rent increases after every 2-3 years, depending on the landlord.

This does not negate your claim that investment in cashew has a higher yield; I am just setting the records straight, as a construction professional.[/b]

Yeecar:
Landed property is a life time investment, generations to come will also benefit from it. But it requires patience...

Tritri:






@olumide4christ There is no place in lagos where u will buy land 4M and a 3 bedroom rent goes in same Area for 750k..It will be below U didnt even mention Omo-onile fee and processing of papers in lagos lands that could take years even after payment. Fencing a full plot +gate will already cost u another 1M...In my AREA Omo onile charge in Millions...they give u charge before you start...dey dont take step by step..omo onile r riding range rovers ..Bros it not a joke matter..at list u need 12yrs minimum to get your 100% return on real estate.

erico2k2:

You said farming. Was real estate. Check the definition of real estate. It's any land with building along with its Natural resources. Google is a good place to find out.
Here.https://en.m.wikipedia.org/wiki/Real_estate
I'm not just talking for argument sake

hotmas911:


We don't even have reasons to argue since we are all here to learn and share knowledge. If definition of terms is the problem, lets leave it aside and focus on getting returns on investment.
Our interest is in acquisition of property for maximum returns. I have a certified report I can share with you to read just to back up my claims that there are options that yield more than rental property here in Nigeria.
Since we are in Nigeria, I feel it is better to discuss solutions feasible for middle class Nigerians.
Mail me, I love to share the document with you.

olumide4christ:



[b]Based on the bolded statement above, costs of land vary from place to place, also demand for housing varies from place to place. I presume you are speaking using Lagos as case study. However, what obtains in Lagos differs from some other places.

I bought a plot of land in Abuja in one of the estates around Trademoore estate, Lugbe, off the Airport road for N3 million + N2 million for infrastructures, making a total of N5 Million. Rent for 2 bedroom flat in that area goes btw N800,000 -N900,000 while 3-bedroom flat goes for N1.2 million.

You can get plots of land for N5-7 million in Ajah and environs and rent for 2 bedroom flat in that area goes for N800,000 and above. You can enquire from @3strike, a popular contributor here in properties section, look for his thread, he is rounding up his property in Ogombo, Ajah. I don't think those flats will be rented out for anything less than N800,000.

Even in my area here in Lagos, lands/old property are available for N9-10 million and rent for standard new 2-bedroom flat goes from N600,000 - N800,000 while 3-bedroom flat goes from N900,000 -N1.2 million.[/b]

whatalife:
I THINK student hostel accommodation is the way to go,
i did this, they are long completed, and occupied buy students.
total rent from 17 rooms is about @ #1000000
total cost of project is abut#6.9M


https://www.nairaland.com/1026810/building-student-hostel-vs-regular

hotmas911:
now i see. Since having a farm is not real estate then having an hotel is as well not real estate. SMH
Donald trump is a real estate billionaire but does it through hotels casino and golf courses. It is obvious you guys don't know much in terms of real estate. You think buying and selling is investment??

yak:

I think hotels dnt fall into real estate but hospitality

yak:

I think hotels dnt fall into real estate but hospitality

Eneze1:
@hotmas911 very apt analysis. One of the major crop that can be invested on which brings easy return is Plantain and Banana cultivation as this has some other branches which brings in quick money.

ayodele234:
People spend millions on business that didn't pick up. At least in real estate you will surely gain, not forgetting the value of the house keeps appreciating as years goes by