₦airaland Forum

ojesymsym:
Fellow investors, I just played around with some calculations and I was shocked by the simplicity and result.

Assuming I am a civil servant and decide to commit to save 10k (ten thousand naira only) every month, at the end of the year I will have 120k (one twenty thousand naira) only. Assuming I decide to invest that money on a 10% investment per annum without stopping the 10k per month savings, that at the 35th year, around the time I am retiring I will be worth around 30 million?

With that kind of money, what is your business whether government or pension funds paid your gratuity or not. Just 10k a month o, not 20k not 100k not 1 million, just 10k, it is just crazy.

See attached sheet for details

I find the values difficult to believe, can someone else also do the calculation and confirm I did not make a mistake.

Juliearth:
A year or two.

We4all:
You're damn right! I have a sis like that. She used to tell her boyfriend everything about her family. Now that she's married to a different guy, she has continued from where she stopped.

The funny thing is, she says so much that sometimes the hubby doesn't even remember some gist. She will now rewind the story and still accuse the hubby of not paying attention.

ADUKKY:
Such advices are the reason why some marriages are torn apart today. I know a woman who was working and earning well with a shop as side hustle. The husband wasn't doing much but refused to help her manage the shop hence the shop was wrecked by shop attendants. Today the man is still where he was years ago while the woman has since moved on to do great things, he couldn't stomach it so he left the marriage and relocated to another state till date. Imagine how great it would have been if only he would put ego aside and help the wife manage the store, it is possible it would have metamorphosed into chains of store today.
It is important for men to know that it is to their own advantage when they have a woman who earns well as long as she remains the same woman she has always been.

emmanuelewumi:
That is another trick used by Ikeja Electricity Distribution to rip off their customers.

It happened to me about 3 years ago, when we got a new manager for my area. They all have targets, they disconnected my power supply on a Friday even though I am on prepaid. When I went to their office on Saturday morning, I found out that this was done to about 20 of us. They claimed we by passed and also brought an accumulated bill of 450k to me. How can a pre paid meter have the old bill.

I sent a mail to Nigeria Electricity Regulation Council Abuja, wrote the CEO of Ikeja Electricity and the top management, my power supply was restored within 48 hours, NERC forwarded a copy of query they sent to IKEDC to me. The lady ie new manager was transferred from Ajao Estate to some where at Ikorodu...


IKEDC marketers and manager are not happy with people using pre paid meters and are trying to frustrate them

ojesymsym:
Very easy sir

ojesymsym:
You haf tay in this business, so far, you have shown you are an authority in the real estate industry.
This is an example of why it is always good to calm down and listen, you never can tell who the other person is and what his experience is.

Thanks for the invaluable info you have delivered here thus far.

MrMcJay:
What I'll advise you to do is to try to locate where she now lives or works. Then write a petition for Malicious damage, fraud and stealing and send it to the Police. It is preferable that you get the Police to arrest her at her new workplace or home and put her in handcuffs. Let this be done on a Friday afternoon.

By the time she spends the weekend in Police custody and wakes up on Monday, it is either she makes arrangements to pay in full or she is charged to court and remanded in Prison custody. Even if she makes bail, she can't complete the terms in 48 hours and she would taste prison.

For a sample KYC form, I have attached a Docx document to this post, if possible, you can download it and use. In addition, I suggest you request for the contact details of the previous landlord of each prospective tenant and talk to such landlord before letting your house to a prospective tenant.

dejiotus:
You are 100 percent correct. That is why I intend to do a full Know your customer "KYC" checks before I rent to one of the prospective tenants showing interest.
Unfortunately for me, all the professionals involved when the house was rented to my former tenants, did not do any KYC checks at all. The old tenant apparently absconded three weeks before the end of her tenancy and I have not been able to locate her.

ojesymsym:
Magodo That means ideally, such a tenant should be a relatively high income bracket and should be able to pay yet they choose the option of bypassing. So it is not about the person's income but the personality of the person renting the house .

dejiotus:
Good morning my big Oga Mr McJay.
I have to agree with you o, that it is more sensible and wise just to waive the two months rent for the sake of peace and to get rid of a bad tenant. Tenants just need to know that legally any additional time spent needs to be paid for in full.

I will be grateful if you or any of our big Ogas and Madams in the house has a Know your Customer "KYC" template for prospective tenant, that can be shared. Landlords among us should please regularly inspect the meters in their properties to ensure there is no illegal or "bypass" connection. My tenant in Magodo absconded and left me a bill of 945 thousand naira (yes just under 1M naira on a prepaid meter o!!!) to pay, when she was caught by the Ikeja Electric Vigilance team. She did not pay even one kobo for electricity over the preceeding 4 months. She had apparently engaged someone to tamper with the prepaid meter as electricity supplied was not being read by the meter. The property was charged 150K per month, for 6 months as loss of revenue plus 45K as VAT. My case is still unresolved and with the NERC regulator

Phyde:
Which one did they suspend please ?

emmanuelewumi:
If I may ask what will a WhatsApp group give you, that cant be discussed here.


Can you list some of the things, discussed in SMI that is not in the open?

9jatriot:
See attached image.
At the end of the 7th year, you should get your principal plus interest, all things being equal.

emmanuelewumi:
Thanks, we are doing well in the open.

Most Investment WhatsApp group admins use that avenue to sell funny and suspicious business opportunities to hungry and lazy people who want fast money, these usually end in losses and tears

Barrytone:
Am not a guru but you deserve an answer. The gurus will attend to you when they wake. The present SUKUK bond at 11.2% is a better deal. That amount (about 18m) that fetches you about 700k now will be getting you over 2m every year. 11% is fair considering the rates now and future expectations.

bmarketing:
Please house, FGN Sukuk is 7 years while FGN savings Bonds is 3 years right?

Burchester:
Does this mean 11.20% per annum interest. And is it compound interest for 7 years ??

smd:
My phone number is 08033886204 living in ondo

Whyzaid:
Love the man's response, funniest thing is that those friends might wish to be in his shoe

dammiejolaade:
Please how can I get it I need in large quantity

babyfaceafrica:
I applied and have been a called for intevview... I am a Christain.. Do you think I should go?

chival:
The Godfather is a classic.

EmekaBlue:
if you dont owe rent or other utilities i dont think u will have problem with ur landlord


na mainly onigbese tenants landlords dey disturb especially afonja tenants with stories upon stories of why they cant pay rent meanwhile using money u borrowed them to play bet9ja . Myself sometimes i even buy gifts for my landlord, the man is even pushing his daughter jumoke to me

MoonandStar:
Do you sell in wholesale?