Mgbadike80:
If you approve of it, i intend to redesign the two plans you posted into something better by weekend and post it here next week. I love your spirit.


please, does anybody know much about the condominium business in Nigeria? Do you think that building a block of three bedroom flats and selling each flat for fifteen million in a location where a plot of land is selling twenty five million would be a viable business model in Nigeria?

Retailing of dedicated blocks of flats in Nigeria is a concept going way back to FESTAC Town (1977), Gov Jakande of Lagos State (Jakande estates). So it is a tried and tested concept which may be viable relative to location and the level of finish and closeness to amenities.

However, I'm not sure if THIS your prognosis/proposal will be viable. Why?

How many units of three bedrooms are you proposing to build? The normal four flats of three bedrooms? If yes:

You bought the land for N25,000,000. As you are wishing to sell on, the finish MUST be of very high standard and sophistication. It will include uninterrupted packing space for each flat and possibly no shared entrance.

So the block may cost on average N45,000,000 to build including legal fees and associated fees.

So TOTAL COST: N25,000,000 (Land) + N45,000,000 (building cost) = N70,000,000

Selling Cost is N15,000,000 per flat.

So TOTAL Revenue: N15,000,000 x 4 (flats) = N60,000,000

Profit: N60,000,000 - N70,000,000 = -N10,000,000 LOSS !!!.

diordaves:


Retailing of dedicated blocks of flats in Nigeria is a concept going way back to FESTAC Town (1977), Gov Jakande of Lagos State (Jakande estates). So it is a tried and tested concept which may be viable relative to location and the level of finish and closeness to amenities.

However, I'm not sure if THIS your prognosis/proposal will be viable. Why?

How many units of three bedrooms are you proposing to build? The normal four flats of three bedrooms? If yes:

You bought the land for N25,000,000. As you are wishing to sell on, the finish MUST be of very high standard and sophistication. It will include uninterrupted packing space for each flat and possibly no shared entrance.

So the block may cost on average N45,000,000 to build including legal fees and associated fees.

So TOTAL COST: N25,000,000 (Land) + N45,000,000 (building cost) = N70,000,000

Selling Cost is N15,000,000 per flat.

So TOTAL Revenue: N15,000,000 x 4 (flats) = N60,000,000

Profit: N60,000,000 - N70,000,000 = -N10,000,000 LOSS !!!.

You dont have to spend N45million on a Block of 4 flats

gordonbarrett:
Bro I still the arrange cash oooo. No be small tin . But I have finished the levelling as can be seen and the roofing will commence soon. Will share the outcome with you.

Let imranroofing handle the roofing part
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Person2person:


warping can come from the frame or the door

those warping door are constructed with wet wood, as the wood dries up with time, its state will not be uniform again.hence the reason for draging. it's mostly unavoidable
with panel door because the wood market is saturated with wet or partially dry wood.

solution.

either you framed your door with imported board or you insist on the use of PINE (parking case) for the carcass of the door.

for rentable flat, I will advice you use skin door framed with Pine wood (treated imported parking case) for the door.

attached pictures is a skin door with mahogany frame and architraves...,

Goodluck!

Are skin doors really strong compare with panel that are made of steel/metal?

davodyguy:


You dont have to spend N45million on a Block of 4 flats

How much do you think is appropriate?

diordaves:


How much do you think is appropriate?

Depending on the size of the building, starting from N20m, you can get one done

In fact, you can you even spend as much as N60M on it in areas where the soil texture is poor and require pile foundation, but if the soil is not too bad and your pile point depth is not more than 12 to 15metres, from N20m to N35m you can it done and well finished with casement window, tile floor finishing and China Security doors

davodyguy:


Depending on the size of the building, starting from N20m, you can get one done

In fact, you can you even spend as much as N60M on it in areas where the soil texture is poor and require pile foundation, but if the soil is not too bad and your pile point depth is not more than 12 to 15metres, from N20m to N35m you can it done and well finished with casement window, tile floor finishing and China Security doors

You will struggle to build a four flat for 20m even on dry land. Don't forget, the flats are for sale for 15m so the design and finish should be in such a standard to attract buyers. So POP all through, possibly parapet, no shared entrance, the block should be so designed that buyers can park their cars without having to call neighbours to move their cars before driving out or parking and so on. To get the concept right for resale, you will easily spend well over 35m. But even if 35m will do it, the poster will still not see any signicant profit to make the venture worthwhile.

diordaves:


You will struggle to build a four flat for 20m even on dry land. Don't forget, the flats are for sale for 15m so the design and finish should be in such a standard to attract buyers. So POP all through, possibly parapet, no shared entrance, the block should be so designed that buyers can park their cars without having to call neighbours to move their cars before driving out or parking and so on. To get the concept right for resale, you will easily spend well over 35m. But even if 35m will do it, the poster will still not see any signicant profit to make the venture worthwhile.

The cost different is other staircase for a standard four flat
and designing the car park

davodyguy:


Depending on the size of the building, starting from N20m, you can get one done

In fact, you can you even spend as much as N60M on it in areas where the soil texture is poor and require pile foundation, but if the soil is not too bad and your pile point depth is not more than 12 to 15metres, from N20m to N35m you can it done and well finished with casement window, tile floor finishing and China Security doors

so foundation is the additional 30 million

GoodFaith:


so foundation is the additional 30 million

Which foundation? Your post is ambiguous

diordaves:


You will struggle to build a four flat for 20m even on dry land. Don't forget, the flats are for sale for 15m so the design and finish should be in such a standard to attract buyers. So POP all through, possibly parapet, no shared entrance, the block should be so designed that buyers can park their cars without having to call neighbours to move their cars before driving out or parking and so on. To get the concept right for resale, you will easily spend well over 35m. But even if 35m will do it, the poster will still not see any signicant profit to make the venture worthwhile.

I maintain my stance.

It is very doable, depending on the factors I mentioned earlier.

Location, soil texture and the envisaged material finishing. It doesn't have to be expensive for you to have quality finishing

You can spend N60million on 4 flats in some locations, and in other locations, N20 to N25m will do it.

If you get a land at N10million in a location and spend N25million to build. This is N35million. Each can still be sold at N10million. May be not too much profit, but you'll break-even.

Please drop your contact number to me, I will like your team to work for me.

gordonbarrett:
Bro I still the arrange cash oooo. No be small tin . But I have finished the levelling as can be seen and the roofing will commence soon. Will share the outcome with you.

davodyguy:

I maintain my stance.

It is very doable, depending on the factors I mentioned earlier.

Location, soil texture and the envisaged material finishing. It doesn't have to be expensive for you to have quality finishing

You can spend N60million on 4 flats in some locations, and in other locations, N20 to N25m will do it.

If you get a land at N10million in a location and spend N25million to build. This is N35million. Each can still be sold at N10million. May be not too much profit, but you'll break-even.

need you are adding other factors

Land and building?
I was just looking at building alone excluding the land

davodyguy:

Which foundation? Your post is ambiguous

Your first respond was ambiguous
It was building
The cost of land can go from 1m to 20m

Person2person:


warping can come from the frame or the door

those warping door are constructed with wet wood, as the wood dries up with time, its state will not be uniform again.hence the reason for draging. it's mostly unavoidable
with panel door because the wood market is saturated with wet or partially dry wood.

solution.

either you framed your door with imported board or you insist on the use of PINE (parking case) for the carcass of the door.

for rentable flat, I will advice you use skin door framed with Pine wood (treated imported parking case) for the door.

attached pictures is a skin door with mahogany frame and architraves...,

Goodluck!

you really know your onions when it comes to doors but you will have to agree with me that at no point will you compare a Nigeria made steel door with the imported kind. While the Nigeria made doors are built with customized quality of steel, you will have to rely on what the importer told the manufacturer in China. Most of the foreign doors are very beautiful no doubt but most also aren't durable especially the ones that cost around 20_35k. The first thing that will spoil is the finishing peeling off revealing the PVC material used in making it. Then next will be the hinges but all these should be if the lock doesn't develop fault first and locking you out of your own home.


If it's for commercial building, it's not advisable to use the foreign doors because you can't control how the occupant will handle the doors. Worst case scenario for him,he will pack out and you will start maintenance work pretty early

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davodyguy:


Are skin doors really strong compare with panel that are made of steel/metal?

wooden door are used internally while steel doors are used externally. No doubt steel or metal is stronger than wood..

the op is asking about internal doors.

michlins:
you really know your onions when it comes to doors but you will have to agree with me that at no point will you compare a Nigeria made steel door with the imported kind. While the Nigeria made doors are built with customized quality of steel, you will have to rely on what the importer told the manufacturer in China. Most of the foreign doors are very beautiful no doubt but most also aren't durable especially the ones that cost around 20_35k. The first thing that will spoil is the finishing peeling off revealing the PVC material used in making it. Then next will be the hinges but all these should be if the lock doesn't develop fault first and locking you out of your own home.


If it's for commercial building, it's not advisable to use the foreign doors because you can't control how the occupant will handle the doors. Worst case scenario for him,he will pack out and you will start maintenance work pretty early

FACT!

Person2person:



FACT!

you will agree with me that the biggest turn off about Nigeria doors is the finishing. I make doors so I tell you that part of the job is extremely difficult and requires more man hours than it takes to make the doors even.

Another thing is the issue of noise upon closing the door. But that is highly negligible once there are occupants in the room but sometimes it acts as security cause upon tampering, the door will make a creaky sound that will alert the owner or neighborhood

Person2person:


wooden door are used internally while steel doors are used externally. No doubt steel or metal is stronger than wood..

the op is asking about internal doors.

Some people do use the panel door as internal doors.

In fact, I saw one in a property in Lekki Phase 1 yesterday.

I'm about getting doors for my house. Total of 22 doors.

I've gotten quotes from different people based on different materials (wooden/Metal/steel) and pattern (flush/Panel) MDF, HDF, Turkey, Chinese, Skin door, Mahogany etc.

I'm still thinking of the option to go for

michlins:
you will agree with me that the biggest turn off about Nigeria doors is the finishing. I make doors so I tell you that part of the job is extremely difficult and requires more man hours than it takes to make the doors even.

Another thing is the issue of noise upon closing the door. But that is highly negligible once there are occupants in the room but sometimes it acts as security cause upon tampering, the door will make a creaky sound that will alert the owner or neighborhood

I'm still looking at quote and your price is very very competitive, with beautiful design. Only challenge is location

michlins:
you will agree with me that the biggest turn off about Nigeria doors is the finishing. I make doors so I tell you that part of the job is extremely difficult and requires more man hours than it takes to make the doors even.

Another thing is the issue of noise upon closing the door. But that is highly negligible once there are occupants in the room but sometimes it acts as security cause upon tampering, the door will make a creaky sound that will alert the owner or neighborhood

Nigeria metal doors are durable, but ugly, make shutter noise and the third thing is the special lock like those Chinese type can't be embedded

coldcandy:
Get American panel also called American steel door at 15-17k. Comes with frames.

Pls share picture of those doors as im also interested

Hmmmn! I love your analysis, u mean business

diordaves:


Retailing of dedicated blocks of flats in Nigeria is a concept going way back to FESTAC Town (1977), Gov Jakande of Lagos State (Jakande estates). So it is a tried and tested concept which may be viable relative to location and the level of finish and closeness to amenities.

However, I'm not sure if THIS your prognosis/proposal will be viable. Why?

How many units of three bedrooms are you proposing to build? The normal four flats of three bedrooms? If yes:

You bought the land for N25,000,000. As you are wishing to sell on, the finish MUST be of very high standard and sophistication. It will include uninterrupted packing space for each flat and possibly no shared entrance.

So the block may cost on average N45,000,000 to build including legal fees and associated fees.

So TOTAL COST: N25,000,000 (Land) + N45,000,000 (building cost) = N70,000,000

Selling Cost is N15,000,000 per flat.

So TOTAL Revenue: N15,000,000 x 4 (flats) = N60,000,000

Profit: N60,000,000 - N70,000,000 = -N10,000,000 LOSS !!!.

davodyguy:

I'm still looking at quote and your price is very very competitive, with beautiful design. Only challenge is location

well there's no location in Nigeria that haulage trucks can't reach. Nnewi to Lagos na 5k per door if counted individually but the price will drop with the quantity

michlins:
well there's no location in Nigeria that haulage trucks can't reach. Nnewi to Lagos na 5k per door if counted individually but the price will drop with the quantity

Your number is always switched off. Do you have another number?

rajput4real93:

Your number is always switched off. Do you have another number?

07032fourfour6904 is my number and is barely off. Chat me up on WhatsApp too

Hello gurus, please I was quoted almost 500k for building a septic/soakaway. Is this a fair price?

davodyguy:

Some people do use the panel door as internal doors.

In fact, I saw one in a property in Lekki Phase 1 yesterday.

I'm about getting doors for my house. Total of 22 doors.

I've gotten quotes from different people based on different materials (wooden/Metal/steel) and pattern (flush/Panel) MDF, HDF, Turkey, Chinese, Skin door, Mahogany etc.

I'm still thinking of the option to go for

Please keep us posted once you decide on your interior doors.
Oga michlins has good designs but I don’t really know why it’s necessary to mount those heavy things at the entrances to the rooms. Look somehow to me.

davodyguy:

Some people do use the panel door as internal doors.

In fact, I saw one in a property in Lekki Phase 1 yesterday.

I'm about getting doors for my house. Total of 22 doors.

I've gotten quotes from different people based on different materials (wooden/Metal/steel) and pattern (flush/Panel) MDF, HDF, Turkey, Chinese, Skin door, Mahogany etc.

I'm still thinking of the option to go for

I'm not going to convince you on how to spend your money but right now, your best chance of getting the best deal is if you buy Nigeria made doors. The prices are very very competitive. Believe me, compared to their foreign counterparts, it should not go for anything less than 70k believe me. It's my business and I will love for you to patronise me but it's still a fact that it beats foreign doors hands down. Unless you are willing to spend above 1ml on foreign doors