₦airaland Forum

GoodFaith:
Better price yes
I just patronize Dfameguy last week

you people think you are wise and smart, you contacted him for work you aren't giving him and he still responded.

You gave your job to another person and you are here attacking him like he is the only roofer. Most of you builders think u are smart but end up being duped by little rats for site.

Everyman must chop in his line of business. The money you are using to build house came from the floor? You made it from people too be it salary or profit from your business. If you don't have money to build house, stay rented apartment.

You people should leave the guy, he owes no one any explanation here. He has integrity and that's enough to give him job. If he is expensive, try another person as we have hundreds of roofers scattered everywhere.

bjmotors2017:
]American used C300 4matic full custom duty paid ... Lagos cleared. 100% accident free with no dent and working perfect with original benz alloy wheel . Every switch button working perfect . Buy and drive 08035909985. 08023891617. 08091251650

no wonder the car didn't go since January. You have 3 pages and no price of car

Mgbadike80:
please, can anyone answer this?

this might help. Without burglary

A Nigeria used 2002 picnic for 1.7m? Is like you people are worst more than the the dollar hike. Greedy fellows. What makes you people different from the bad government we have?

articlewriter:
Innoson cars accepts Naira not dollar. Let us grow our Naira

he exchanges back to dollar an importer raw materials

Dijita:
What is the occupancy rate for properties in those places we are talking about?

100 houses 4 tenants

[quote author=n3xt post=96378010][/quote]it will be there for decades till the owner come down with price or sell it. House for rent 15m agent and agreement 3m making 18m for 1 year.

Nonnyautoconnec:

7 seater?

n3xt:
Chekitaut, you shock me

I’m surprised you don’t know how expensive real estate is in Nigeria despite how experienced you are in this sector.

You think N4m is too expensive bro! Check the going rate for houses in Megamound estate.

You sure know I did projects in there so I’m not cooking up figures.

Beyond selling our services, we should be able to advice our clients on profitable investments but what can you do if you don’t even know the right place to invest.

stop posting all these your overhyped priced rentage, in reality people don't rent them cos their price are ridiculously.

They will stay for years without a single tenant. And when tenants come, they are mostly Yahoo boys (and when these ones no see money collect again, they will owe u or crawl back to their holes in mainland where they ran from.) or company workers that come from another state for few months or years.

Stop hyping bro,
we have seen rich people too, No be only you know everything. we are all in Nigeria and we know how money Is made

n3xt:
Bros, pls shut it up already if you don’t know the type of people on this platform.

There are people doing bigger stuffs here. They’re just silent. They’re not thieves or ritualist but owners of big conglomerates.

if such people exist here, they are mostly the category I mentioned earlier..... Government thieves, fraudsters and ritualist.

I don't believe anything I read here because everything na lie and hyping. Meet them in real life and see all they weigh.

850m to buy land? Trust me such money don't come legitimately. Check the background of their wealth.

I know we have rich people but how did they come with such wealth? No be the work and business all of us dey do so ?

n3xt:
Smiles.

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


______
Comparing an apple with an apple. Iyaganku get levels

oga mi, all these ones you are posting are for thieves, fraudsters and looters. I don't believe any of us here can afford that unless you go sell cocaine for abroad or do wire wire. I know how hard it is to have 10m you aren't using.

make we no deceive ourselves cos most of us here are either living Abroad or back to Nigeria. And I believe they don't pluck money over there, we work our ass out to make 1000$ except those doing the opposite

theForth:
The house can be sold in the future, you'll make profits from the sale and even the rents you've been collecting over time.

the argument is making your investment back and still having the property within 4-5years

kopell:
Hahaha, haba crack heads ke. They became crack when the money thing is not working in fervor any more ni ooo, many of them living above their means. It had to have stable tenants in Nigeria especially in Lagos and Abuja those that are stable are timing bomb hold one hostage to build or buy their own property.

I don't know why they want us to believe one can get his/her investment back in 4-5 years. All these note book they are jotting doesn't happen in reality.

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

easy to write in paper but the reality isn't the same. Don't forget most of us here are business men and we aren't ignorant about INVESTMENT

Zzor:
coming from an unrepentant cheat and chronic womanizer smh

he don cheat reach your side?

addexx:

this guy again

n3xt:
Poor ke?

If I bought land at over 50m per plot, am I supposed to target those who will pay me 500k per month when I’m not Federal Govt

O wrong nau!

hmmmm

n3xt:
This is my field.

I’m sure you don’t know there are offtakers. Just 18 units.

When I read the bolded part, I can understand you clearly.

Let me off mic.

______
My rent on NextHome H52 is almost N1m for less than 18sqm room, let alone house.

off your mic sir. I don hear you individual varies and it's not about being poor

topsy23:
I don't think the wire is much .. To me the 2,5mm and won't be enough. Although I don't know the number of AC and water heater you are planning to install . If it is a standard 4bedroom flat electrical installation with the following descriptions of items :

Living room
13A double socket 5nos
13A single 1
AC 1
Spotlight 6
Chandelier 1
Wall light 3
Rope light (optional )

Room
13A double 3
13A single 1
TV 1
Ceiling light 4
Wall light 2
AC. 1


Toilet
Light 2
Water heater 1

Kitchen
Light. 4
13Souble 5
15A socket
13A single 2
Cooker 1
Water heater 1

That's the stardard

1 water heater for master bedroom alone and 2 AC sitting room and master bedroom. Thanks for your contribution

n3xt:
Pls don’t.

The difference is I can crunch the numbers and I’ll give you links to the projects and address of the buildings. Go and ask the tenants how much they’re paying per annum.

Let me help you further bro.

I did a carcass of 5 units of 2 bedroom flats (on 3 floors) here in 2015 for N12m. The owner paid between 3.5 - 5m for the land and spent about 6m on finished.

Each flat is rented 700k which is about 3.5m/annum. How many would he recoup his investment?

I’m not just a builder or just another construction guy. I’m out to make money and help my clients to make monies too (especially those who are not smarter than me).

Often times, I do showcase projects on here and ask people to help my clients chose what to build. I do such because we want to understand what the people want.

are you telling me all the flats will be occupied same time hence your calculations? Are you telling me all the tenants will stay there for 4-5years and the house won't be vancant for some months if not years?

Everybody is wise now unless dumb people who do fraud and steal to rent houses worth 3-4m yearly or those who aren't pennywise and live fake life's just to "belong"

I was 24 when I had the plan to build my own house be it a room. https://www.nairaland.com/2816718/builders-house

2015 I was planning how to build a room and parlour self contain. But today I have built a 4 bedroom flat that has cost me over 6m (swamp land). I can go to lekki with money and rent house to form class but I am not stupid and that's what people think these days.

Who still think of using 1m to rent house when you can buy a land and start building. Wise people rent cheap house and build theirs. Na copy copy and fake life dey kill us for Nigeria

House renting is just for future thing and I can't count it as an investment that will give fast turn over.

n3xt:
Well my client got her land 15m before Agungi price shoot up and we did the project with less than 65m.

When it comes to investing in properties, you must be smart and know what to push and the whatnots.

I see a lot of people investing because other people said a particular area is great.

One of the thing that helped these two people I mentioned is nearness to the Lekki/Epe express road and not just the name.
You can see the two buildings from the express. That makes it a perfect choice for those who want to beat the Chevron/VGC traffic.

I won't argue further.

topsy23:
Is there no AC and water heaters?

I can't see 4mm in the quote.

there is both. There is 4mm there. I am just thinking the wires are too much.

AmuDimpka:
you don't get it... We are thinking out of box in SW ...

hmmm

My 4 bedroom wiring quotation. Everything has been done already (piping)

That's why they disrespect most of these Kings. You should summon tinubu to come meet you if you need to see him. Unless the visit is an official one.

n3xt:
Smiles.

I’m sure you don’t know there are parts of Lekki where people pay as much as 3.5m and even more for Terrace duplexes and up to 2 million for 2 beds (in 2016). Do the maths!

Crack heads don’t exist in some areas. Some people will pay anything to rent a flat in some areas in Lekki.

In the same area, you’ll still see people struggling to get tenants. Well, life no balance though.

the higher the value of the location and rent, the higher your investment in buying land and building the structure. I still won't accept one can get his investment back renting it out in 4-5years be it banana island or ikoyi.

n3xt:
Valid.

I do help people build in those areas though if you’re looking higher return on investment.

The owner of The Reserve (3 unit terrace) at Agungi has recouped her investment within 4 years. She invested 80m.

My friend who invested in 18 unit 2 bed and mini flats in the same area has recouped his investment too. He invested 160m and made 180m in the first 5 years.

Different Market. Different Choice.

I refused to believe this sir. House for rent isn't an investment and there is no how you will get your money back in 4-5yrs..... I won't believe that, especially in Nigeria where we have crack heads as tenants.

I don't know why you guys can't call mods for this favricc and his partner, they have both derailed previous pages with their nonsense chats that's not related to this thread.

EgunMogaji2:
To my fellow homeowner, as an example how much should I expect to pay these days for example a 4X4 casement thick imported window?

Thanks.

that the agreement quotation for my house. It's without burglary

Bovijean:
I do think these are realistic 3d wallpapers pasted on a flat POP surface.
So my guess is the POP would be finished except for painting(The wallpaper area won't need painting) before pasting the 3d wallpapers

noted. Thanks

checkmatez:
With time that building might be sinking and there would be moist on the walls which in turn peel painting.
And if your neighbors increase their foundation in height then you will definitely have water sipping from beneath the ground. Work on the above issues now, if you can

thanks I will