Some little Update: can't really do the interior without me been around to monitor it myself. Lesson learned from previous build

I instructed him to embed it into the wall. How he did it, i don't really know because i know that i did not have to pay any kobo more for the extra work.

diordaves:


Really nice. So what happened to the waste pipes? Buried into the walls or re-plumbed?

Dude, i like your spirit. We go do business one of this days. Nigeria is about size of ONE state in the USA. With the help of the INTERNET, every corner of Nigeria should be able to transact business without much stress. The headache of Lagos is unwarranted IMO. Dangote dey Ogun State and other part and dey supply the whole Africa.

michlins:
all of us won't be in Lagos. And yes, I will still blow from here. Shipping a door to Akure for a start and I know it's a matter of time before I expand my client base

I love my Builder "Engineer" for his years of experience but, i have to infuse youthfulness into his work.

See that ugly pipe defacing my build; Baba try to set me up!!! Lol

You kuku know me, i am looking at this already. And that una Tiles, i hate with passion and looking for affordable alternatives. I will even prefer Rug self but dusty naija discounted that option. In high End hotel in the "ABROAD", i no dey see all these elaborate POP or Tiles anywhere. EKO with our self imposed costly wahala.

n3xt:


If the price of Plasterboard and POP cement are beyond me, I’ll go for exposed beam joist ceiling.


Naija can’t hold me to ransom

LOL... SO its ok to upgrade but not ok to recoup the funding Rent is a business, loan from bank at interest! I guess you want the landlord to kick them out first, do the upgrade and invite another willing tenant?

spiralwedge:
You don't have to increase their rent to floor the compound. The flooring is for your own good. It makes water to flow to a drainage rather than sinking to the ground and thereby softening the blocks.

If your tenants had done the flooring on your behalf, they would have requested that the amount be deducted from their rent.

So, what's the increase all about? So, it's their fault now that they rented a house that hasn't been floored?

I for one would never rent such a house.

Its ok IF and i say again IF the builder has imbedded the reinforcement in the CMU. But looking at other features of the structure, this person don't have a clue of structures at all. By pure observation, the build is missing a Column!!!

Loogunofe:
Sirs, Please how is this lintel done? I saw the picture online and looks different from the reinforced concrete I'm used to.

My Guy, where is this one? opposite DELABO?

n3xt:


I recommend Sir Rotecch77 for this job. Make I take time settle down at my new project site.

_____
Tomorrow, we commence earthwork and landscaping of the 2600sqm Federal Government OSSAP-SDGS Project .

True2home, this one near you gan ni Don’t wait till they start selling land 50m per plot.

Yes Sir... I just evicted one of my tenants that did not pay for September. The process was like taking candy from a baby!!! Three weeks and the door got opened.

One thing i have realized about our people is that we don't like to follow the laid down laws. Then we complain that it don't work. Serve you papers as when due to the tenant as stated my the law, the court will kick them out within three months tops

EgunMogaji2:
A side note and for the benefit of those that might not know especially our diaspora folks.

Nigeria actually has a working judiciary. Very efficient. With lawyers, judges, bailiffs, etc

I sued an artisan recently and was very surprised at the efficiency of the process.

So let’s drop this notion that Nigeria is a lawless society that lacks judicial wherewithal.

Note: I stopped comparing Nigeria to the USA and UK months ago because I live here now (celebrated my 2nd birthday here yesterday). So if you’re going to constantly compare Nigeria to “saner climes” one will just go crazy. Our system works, mostly.

After God, Na we Dem!

n3xt:


Ijebu people everywhere

Minimalist by Birth...IJEBU...lmao

n3xt:


Are you a minimalist or generalist?

Welcome to the "See Through" geng!!! E
ile Aye yii o lee ...KEEP IT SIMPLE

n3xt:


I’ll do it too.


__________
My Gate For Sale.

Interested persons should dm for more details.

Gate only 200k

Gate with Centurion Automatic Gate Opener - 400k (working perfectly, buy and customize your own remote N10k pere)

Additional features
- 5m gear rack installed
- Centurion gate roller installed

Caution Caution Caution

No matter how you are highly recommended in the business world, you MUST watch your responses to unpleasant people. Its maturity and good manner. There are some responses that are just distasteful in the business climate. Words to the wise only!!!

The issue with us Nigerian is that we see everything from the view of a Foreigner!!!

Look, i was born abroad and was fortunate to be raised in Nigeria; i thank God for giving my parent that wisdom. Nigeria and the Western countries are two different climate in every ways or deed.

A Nigerian that do not have any business abroad is not affected by your analysis. Dollars has lost value since i returned to the US in 1996 to now. The point i want us to know is that the value of our foreign exchange is affected by our unpatriotic ways of living as a Nigerian. We earn naira and sell it off for dollar and run out the country; never to reinvest that funds we took abroad. How do you develop your FDI( Foreign Direct Investment) if you a born Nigerian is not repatriating the dollars? If you Nigerian is promoting investing abroad, how will Nigeria grow? Its not magic, its simply economic.

My Dad's siblings never left IJEBU. They had everything my father has and many more. My Dad has master in Finance in US in the 70s. What i see is that he was spending exponentially in relation to his sibling. Traveling abroad many times, spending much to live in Lagos among those so called elites. Its " good investment" to build and live in the city. But guess what, its you working twice as hard than needed, its you spending extra to keep up, its your lifestyle that is causing you to work all your life in the western country killing yourself slowly. Your mate will retire back home at 5o years old and you will still be paying mortgage and your kids will be owing school loans.

Please success means different things to different people!!! For me, i want to save up a little pot of cash and relocate back into my village while i trade stock and invest in the western world and in Nigeria simultaneously. Its just that simple in my opinion.

The golden thing that most of us are not seeing is that once you have foreign passport, you don't need to remain abroad. Its easier to return home and invest from there. you will gain access to many other countries of the world and you will have a lot of time to take advantage of the world while chilling with your people and LIVING rather than just working like you do abroad. All the celebrations of life that you missed while paying for it, you disconnect from you siblings, your family, your friends and upon retirement in your 60s, your body will eventually brake down from all the OVERTIME you worked. You will then realized that you have not contributed your youthful days to your country. Lastly, your eyes will finally open and see that you are not any better than those you left behind; their children will be educated, have a career, and they will have enjoyed the company of their kids and grand kids all their life in full

Just my opinion and observations...i am in my early 40s now and most of my friends are old men. ORE AGBA NI MII....A SMART man learns from his mistake, but a WISE man learns from others mistakes!!!!

qdlvy:


You're correct on this.



Let me first admit I don't know too much about finance and investment but I have been forced to learn by myself on how to manage my own assets and money. With that been said, I will never invest my money in Naija TBills, stock market or real estate for that matter . I'm sorry but the economy practices and instability in the country doesn't fill me with any confidence.

In regards to real estate investments in the country, I'm willing to bet the majority of them lose money when intricate number crunching and adjustments are made. Yes, you're right that domain knowledge might mitigate these risks to turn a profit but only very few shrewd and prudent (or lucky with inheritance or government lobbying) will make money. The lack of verifiable data is also one big problem to making educated investment in the country as opposed to the slew of anecdotes I have seen people making here. Sorry, I can't take all these stories of "my clients, my neighbor or the alhaji down the street" seriously. I need verifiable data and if the shambles that is the naira is anything to go by then I'd rather invest in somewhere else.

Take for example, average exchange rate usd-naira in 2010 was 122 naira to 1 USD (source: https://www.exchangerates.org.uk/USD-NGN-spot-exchange-rates-history-2010.html). Today it's 470 naira to 1 USD. If you had 100k USD in a low cost index fund like the VTSAX or VFIAX from 2010 to 2020, you're looking at 6% annual return (adjusted for inflation) compounding to $179,084.76. (source: https://americanfundsretirement.retire.americanfunds.com/tools/calculators/investing-results.htm https://dqydj.com/sp-500-historical-return-calculator/). Yes, it does comes with its own risk which can be minimized with diversification but the potential return will be lower. The advantage is you don't have to do anything. Just leave the money there, you don't have to worry about tenants, repairs, omo onile etc. And your money will be in a strong stable currency.
Land bought in 2010 for 12.2 million naira (100k USD) can become what in 2020? 45 million or 50 million which is sadly still 100k USD today. Yes, location and domain knowledge matter but I'd rather just take the trusted and easy route.

Not at all...I was supporting your view bro. There are lots of other locations in Nigeria that you can invest and make crazy money. The one like you showed got me when i saw how much a land in "Ghetto" Ketu sold for. Even in my hometown; anything along Ilisan - Ago Iwoye is pricey as hell. I bought 4plots first quarter of the year, boy, i begged to buy a plot in the Millions ooo. I keep saying its a village but when i did my findings, i was shocked that someone else was ready to drop a million more than my offer. I quickly called my uncle and sealed the deal.

I was thinking of a Mall at the DELABO Hotel site too, but the seller wanted N200M; Na Adron buy am last last. If i was him, i will do a Mall right there. Sagamu to Benin highway traffic is mad and will patronize the place all day long.

EKO is NOT NIGERIA, lagos is just one small part of nigeria; though its significant!!!

n3xt:


E shock you. Don’t let it shock you!

I was asked to provide a space for Massive Shopping Mall (Shoprite) in your axis few years ago but we couldn’t find a good site in Ijebu Ode and Remoland.

Better put your money on the expressway my bro! Na so people dey become billionaire overnight.

It’s a bush today but it’ll become a goldmine tomorrow.

LOBATAN!!!

n3xt:


Smiles.

Baba, kindly save your plot and observe the market trend.


______
Comparing an apple with an apple. Iyaganku get levels

That's my point exactly. I do know the difference, but most people are buying the Lekki Corridor for ridiculous prices and quoting Lekki phase I rent to justify their purchase.

By the way, You will never find a N25M land in Lekki - Ikate either and you are looking at over N100M in investment going by todays estimate. Just to recoup N12M less assume 4 flats building or Terraces @N3M/unit. That's still less than 10% per year ROI.

You know me a little; and i don't worry much. I just keep my eye on my returns based on the capital that i am willing to invest. The local research will do the rest for me

n3xt:


How is Abijo now Lekki? Lekki Scheme II is not even close to Ikota let alone Ikate in terms of investment returns.

There’s Lekki and there are suburbs on Lekki/Epe l expressway. They’re not the same.

It’s like comparing the overrated Cooperative Villas, Badore to Megamound Estate, Ikota.

If you don’t know all these stuffs, you’d assume investing in RE in Lagos Island is just a piece of cake.
I’ve seen a lot of people here doing copy copy stuffs but I can’t but smile.

Awoyaya no be Lekki. Not even the popular Sangotedo. Those who sabi knew this!

I’d rather do Magboro than Abijo/Awoyaya/Bogije and the likes. Arepo and it’s environ is far better in terms of investment than all those locations.

_______
I fenced a land for a Nairalander about a decade ago in Ogombo. Till date, no single development has gotten to that axis.
I believe such person will fall into category of those who do not believe

Sorry to say, too many ASSUMPTIONS... you are just one of those Follow-Follow. And its ok!!!

For those whom will like to INVEST, Simply do a Research and you will see your returns without speculation. To make money on the Island, its either your father or relative has had the land when it wasn't popular and you got it at the cheap price, then you cant really rent and see more than 8% per year; and that's been generous.

I have bought several land in Ogun State and made serious money in no time. I bought some lands in December of that year and by the time i got back to the US; i sold it all in two months at minimum of 100%. I have a rental property in my village that i built for 4M( land and Three Self cons) and i am getting N160 per unit for the past three years. The property its self if valued at 10M already. i bought another lot in the area last year for N1.2M and the original one i bought at N350k 3years before. JUST DO THE RESEARCH IN THE AREA OF YOUR INTEREST, It will speak for itself

Please don't let anyone Hype you!!! Lekki is good for those that has a lot of money already and can get creative in REAL ESTATE; the first investors that positionED are the one that makes big money, all the Follow Follow will be left handing the Sh=t Bag for many years to come. Few of my friends that bought ABIJO cant build it yet and its been 5years oooo. Water prevent them from accessing the ROAD TO even get to the site, was a no no!!!

so be smart and know what you are doing before investing in RE. There is nothing wrong in being on THE ISLAND, just know that its for show and you must be ready to spend heavily and hope to be luck that another money-miss-road will fall into your hand too. Best thing in that corridor is BUILD AND SELL; and that's for big pocket

megacontrol:
Hello,

I don't like getting into these but cos you asked a direct question ...Saw this earlier but was trying to settle down before posting a reply.
I tried to put down on notes (attached) before getting back on the road, i'll add another quick scenrios below.

Off course these numbers are not cast in stone, but the general rule and idea remains.

====
MEGAMOUND ESTATE, IKOTA (I'll come back to insert these numbers later)
Land:
Build semi detached or 2 detached duplexes for
Selling price: Detached duplex 80-100m or more

===
ORCHID ROAD, CHEVRON TOLL
Land: 30-35m today
Build 5 units of 3bed + BQ or 4 bed terrace for 100m
Sells each for 38m offplan or 40m-42m upon completion...today's going rates
6 months turnaround .. confirmed known practice

===
IKATE
- 800 sqm costs ~50m 3yrs ago. today same land is 90 - 100m but they won't sell, they'll build and flip
- Pile foundations and Go vertical, good location for block of flats. selling fast today
- Builds 9 units of 2/3 bed apartments... any volunteer should work out cost of building and add
- 2 bed sells for 38-40m and rents for 2.5m - 3m today. Short let rates at ~40k per day... these one i'm certain for sure
- 3 beds sells comfortably for over 40m. i don't have the rental rates tho, but short let rates are similar to 2bed above at 40k/day.

====
You can do the maths.

Buy the land early before it shoots up and wait to appreciate, don't sell but build, build simple and whats going in the market, build brand equity after first project, project will be over-subscribed, then the spillover offtakers are offered the phase 2 in the next location. RINSE & REPEAT.

Cheers

For the Yoruba dem;

Won nii pe, OLOWO lon KOLE ORI OMI... Na dem wey get money dey build on top WATER!!! they can afford to spend Millions as the house sinks periodically

Chekitaut:
No just come there oooo, fresh air, water front & lots more. Can i ask you a question too, Why are skyscrapers more in Lagos Island? I beg ooooo left them ooooo,

Laf wan finish me here ooo

I have used it in many instances and loved it...

One4me:


Dont even think about it.
Seriously, Black floor Tiles?
Even if you get it for Free, give somebody else.

Nigerian Handymen/women can do anything you want, but you MUST be there with them to get the result you desire. Also, they are limited by their exposure; having travelled far and seen the world over, you are getting the result because you are not DOING OGA OGA, you are working in the trench with your men. Its the DIY US spirit.

EgunMogaji2:


Yes, local bricklayer in Ibadan.

This is the very first attempt. I’m excited about future attempts.

The fact that our builds are elementary allows for multitasking of our professionals. I bet you that in a complex build, no architect will want to be responsible for a Builder contractor's role.

Abolarin91:
He is not referring an architect here sir, he stand to take the job.
Software has made it easy for so many people to take architectural work

Nice one. I like it even more due to the security feature of the design as well. If an intruder wants to cut a member, it will take considerable amount of time compare to the last one you show. I hope people picking Modern styles pay attention to this mentioned. The purpose of the iron work is to slow down the invader; dont undermine it in your quest for look!!!

EgunMogaji2:


Thank you Sir.

This was the alternate.

That's how it works... I own the land until you buy it back when you honor your contract. That's kind of the way mortgage works all around the world.
Also, a car is a liability that decreases with time, while property increases with time. Just for your info

Uyi213:


Lol no but I am willing to use my car. If I give you documents you own the land

Hello,

Are you willing to use the Land Documents for backing the loan? Thanks

Uyi213:
I have a half plot at Akobo Ibadan. Can someone suggest a loan company that will borrow me money to finish it. It’s a 3 bedroom and it’s at foundation level. Help please even if the lender takes charge for some years I don’t mind

Renault MIDR060212C Engine... can you get this engine?

Hi Boss,

What is the Thickness of the Counter Slab?

TouchstoneNg:
As the yuletide season is approaching, it would be great if you have a functional kitchen like this �� to give you Homemade memories.

Contact us to make it happen!

Location- Lifecamp, Abuja.

Few things were wrong here:

The slab is a One Way Slab design, but was not supported as such in this video. Notice the Parallel columns but nothing in the longitudinal run of the 1way

The under supports can not carry all that wet DL and LL ( Dead and Live Load) that was imposed to place the concrete

These are just to mention a few

n3xt:
Who understand what went wrong here?


https://www.youtube.com/watch?v=8p8VMufiZ7k

Its not magical... Its one of the many Structural Engineering Fundamental principles. Center of Mass coupled with Eccentricity. you will be surprised how much a single well design Column will support when you can accurately target the C.M of a mass.

EgunMogaji2:
Engineering wonder. Not sure if it’s photoshop or even Nigeria.

lol...in some of the villages, i don't see burglary and Bullet Proof doors ooo. As recent as 2019; is it because they dont have money to start with? i guess Thief dey look face!!!

Badgers14:
I still have a dream that one day, we all will be able to enjoy our homes burglary proof free..

Man, I don't like staying in my own house... it makes me feel trapped. I have never been in jail before, staying in my house makes me feel like I am in prison or in a house arrest , metal door, burglary proofs everywhere

Could you imagine living in a house like this (picture..below)....

Enjoying your environment, soaking up all that views etc... those natural lights , sitting out , telling your kids, grandkids , niece, nephews, cousins about your war stories how this all started, reminiscing some glory days...

.. that will be nice..

LOL.. Nigeria Factor!!!

If you have lived abroad for so long, i take GOd beg you, dont bring any High Tech Mentality back Ooo; you will run mad in no time. I also recommend SIMPLICITY. We lack basic fundamentals and lack foundation in infrastructures. I live a Minimalist life style when in Naija. I cant come and kill myself

erico2k2:

ahah Bro only the ignorant Diaspora will abuse people back in 9ja. If U remember back b4 this thread when we were still on the old property thread myself and Egunmogaji where talking about machine in our designs how we gonna do this and that in our proposed builds. when time reach and we were in the ground story change. we now appreciate local knowledge more.