₦airaland Forum

BigSarah:
Asset Over Liability Anytime Anyday

Meanwhile

Please Nairalanders I need Your Help With IT/SIWES Placement

Course: Microbiology
Location :Lagos
Duration : 3months

Check Signature For Contact
Thanks

biochemistry, Lagos(Oshodi-Isolo Lga precisely) 4 months.. Thanks

keneharry:
biochemistry, Lagos(Oshodi-Isolo Lga precisely) 4 months.. Thanks

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whitebeard:
how do u start real estate with zero capital

l will show you how to invest in ibeju lekki,epe and igbogbo(ikorodu) with peace of mind.
you can start with zero naira.
you can join our business network too and earn as much as 20% commision on every sale.

call / whatsapp :0-8-1-3-9-5-1-9-1-0-1

Direct from owner...no third party!

Buy land and wait.

abnot:
Rubbish seen many Nigerians consistently acquiring plots here and there yet when they need cash they are unable to liquidate . A colleague of mine bought some plots somewhere at a cost of 3M . Four years later he wanted his wife to give birth in Texas and he tried to sell two of the plots. They told him the value of the two plots was now 5M. For 6 months he couldn’t find a buyer. I’d rather invest in other things or even pension assets

/
That is the sad reality some folks fail to acknowledge.
There are a lot of distress sales in lands and houses recently.
It is a good place to put money but not always profitable especially when adjusted for inflation. N1m in 2010 ($6,667)have higher purchasing power than N1m ($2,777) in 2018. A land bought for N1m then need to be sold at above N2.4m to be profitable today. However, the beauty of lands/property is that they are good stores of value not prone to wide negative variations in price.

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NnamdiN:
Any cheap lands on the mainland? One where the payment can be spread.
Not bush o

Contact me

The paper value of a property is not the real value.

A house/land is worth only what serious buyers are willing to pay. Eg. A house listed for N50m got the highest bid of N35m and stays in the market for years. On approaching a bank for loan, the bank will only accept the house as collateral on a N30m loan. Is the house really worth N50m? Some estates are selling lands for N15m/plot with many empty plots littered haphazardly everywhere. After a few years/months, they are forced to do downward review of prices to attract buyers to offset their obligations to banks.
A distress sale for financial or health reason(s) is the worst position to be in.

Until the papers are signed and payments made, any value on any property is just an estimated value.

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elninosanz:
Good post, however there are some things people should note before buying property

1. Not all properties appreciate exponentially over a long period of time. In other words, while a piece of land in Lekki or Magodo might increase 10 times it's original value over a 10 year period, some other pieces of land in some other areas may not be able to increase more than 2 or 3 times it's original value over the same 10 year period. My point is this. Use foresight in buying land. Don't just buy land anywhere because you must be a property owner

2. Make sure that the documentation is correct and in order before buying. May people have cried because they did not ensure the land they wanted to buy had ALL the proper documentations

3. If you are not ready to build immediately or you bought the piece of land just to resell later, i suggest you buy land within estates(provided the developer has all the necessary documentation). Land within estates are less prone to 'omo onile' snatching the land

4. If you don't have enough money to buy land in a good area now, rather than allowing your money to just lie fallow in the bank , invest in some other areas like stocks, treasury bills, mutual funds and the likes. There are some stocks that perform better in the long run than even properties. For example GTB was 5 naira in 2008, you can sell it today at around 50 naira. That means the stock is 10 times what it was in 2008 . Which means if you bought 2 million naira worth of GTB stock in 2008, it would be worth about 20 milllion naira today. Invest wisely

this is good advice bro

I'm taking this one to heart

InvertedHammer:
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That is the sad reality some folks fail to acknowledge.
There are a lot of distress sales in lands and houses recently.
It is a good place to put money but not always profitable especially when adjusted for inflation. N1m in 2010 ($6,667)have higher purchasing power than N1m ($2,777) in 2018. A land bought for N1m then need to be sold at above N2.4m to be profitable today. However, the beauty of lands/property is that they are good stores of value not prone to wide negative variations in price.

\

while you are right with the analysis on the foreign exchange value of 1m, the exchange rates don't always tell the full story, especially if you are a domestic investor


The situation in Japan and South Korea has shown that.
just saying sha

Flirtyjane:
Some foolish people will still doubt though like those slay queens that prefer iphone of 800k that can buy a plot of land in Ibeju Lekki or Ikorudu and Epe.

For real? 800k?

Ugosample:
while you are right with the analysis on the foreign exchange value of 1m, the exchange rates don't always tell the full story, especially if you are a domestic investor


The situation in Japan and South Korea has shown that.
just saying sha

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Even as a domestic investor, you cannot compare Japan and South Korea with a high import-dependent country like Nigeria. The economy of Nigeria is greatly affected by forex.
What are the prices of a bag of cement and steel rods in 2014? What are the prices now?
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just passing , property investment is really worthwhile check my profile for better understanding.

The only people who truly benefit from real estate are real estate sellers and prospectors. Truth is Real Estate is a 'safe' bet, and the problem is there's no such thing as a 'sure thing'.

BigSarah:
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Hello

Kobicove:
Location is the main deciding factor!

When it comes to Real Estate investment Location, Location is a deciding factor, however Foresight and Timing is an important deciding factor too especially when considering a land banking investment.

Propertyneur:
When it comes to Real Estate investment Location, Location is a deciding factor, however Foresight and Timing is an important deciding factor too especially when considering a land banking investment.

True