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Building For Renting Should Be Used With Your Spare Money (15492 Views)
MrDoGood(m): 4:25pm On Dec 09, 2024 |
Love800: landed property is a property that includes land and a building on it. It can also refer to a parcel of land. |
nwirinedu(m): 4:27pm On Dec 09, 2024 |
Some of you who make these comments dont understand how wealth works. A building for rent is an asset, it will continue to generate cash in the foreseeable future, the 350 k rent can increase to 500k in less than 2 years depending on developments in the area and demand. You can give that house to your children and even grandchildren. That funds from that house can be used for other businesses. The house can be used for collateral to get amounts larger than what was used to build it. Stop taking advice from so called social media advisers who are living in their cars and telling you to do what they have never done. Most are sponsored to promote bad advice. With a population projected to reach 600 million in a few years housing can never be a bad investment. Everyone cannot build plazas and offices. People must have where they reside. Shortlet is not viable in every part of the country, recognize your loacal market and invest accordingly. 1 Like |
IamANigerianMan: 4:50pm On Dec 09, 2024 |
Jeferious:You speak out of ignorance too , this is how some of you deceived people, which business doubled that money in a year... My friend had such money some years ago, I told him to invest in property he refused, he went and invest in farming, the rest oil and gas today he has no money no single property.... Stop mislead people, invest money in anything you can sell and get your money back... |
ibinaboonline: 5:03pm On Dec 09, 2024 |
I think it's the land you built it on that appropriate in value. The building itself depreciate.
SUPERPACK: 1 Like |
COMPAQ(m): 5:32pm On Dec 09, 2024 |
SUPERPACK:Meanwhile if you invest in 10 year FGN bond of 22% today and you can reinvest the interest at 22% as well, in 10 years you will have N584mln. Cos your money will double every 3 years or so.[center][/center] |
COMPAQ(m): 5:33pm On Dec 09, 2024 |
Building for rent is the dumbest thing anybody in Nigeria can do today. The only place it makes sense is Ikoyi, Banana Island etc 1 Like |
bmasz(m): 5:52pm On Dec 09, 2024 |
Love800: Airbnb is an online marketplace that connects property owners with travelers looking for short-term rentals: How it works Property owners can rent out their spaces, such as a spare room, apartment, or house. Travelers can find and book these rentals on the Airbnb website. Source:AI |
Jeferious: 6:04pm On Dec 09, 2024 |
IamANigerianMan:So you really expect me to tell you my business and its secrets on a public forum? Something wey dey give me my daily bread on a regular? You dey play. Try and understand the Op. Building of commercial house should be done with spare funds. If it would affect the business adversely, no put body. Las Las, run am on a one-year-one-block basis 2 Likes |
SouthAmericalif: 6:33pm On Dec 09, 2024 |
Reality check,do people still have spare money this days?
1 Like |
SUPERPACK: 6:52pm On Dec 09, 2024 |
ibinaboonline:Not true. The cost of building material keeps appreciating and never goes down. When I fixed alumaco glass on our building it was around 7k each, same spec is now 90k each so you see it will add the new cost of the building, building blocks were 50 naira back then but now 600 naira each. Minus that land. Building materials appreciate here in Nigeria so old building still command good price as cost continue to rise. In stable economies cost of building materials almost stay same 1 Share |
SUPERPACK: 6:58pm On Dec 09, 2024 |
COMPAQ:And you invest same 70 million in XRP crypro coin a month ago you will have 500,000,000 by now.. So you see there are even bigger risk than bonds. My question to you is why did you ignore crypto that is faster? |
maasoap(m): 7:23pm On Dec 09, 2024 |
jmoore: Everything you said is spot on except that part highlighted by me. Not necessarily to reinvest in the business that gave you that money. Sometimes, it could be gambling, a gift, inheritance. Sometimes, people want to divest and sometimes, people want to move away from their current business for a number of reasons. |
maasoap(m): 7:25pm On Dec 09, 2024 |
SUPERPACK: You mentioned that crypto is a bigger risk and you still asked why ignoring it? I hope you, yourself understand what you meant by bigger risk |
maasoap(m): 7:27pm On Dec 09, 2024 |
SUPERPACK: Are you going to sell it in 10 to 15 years time? If not, it is a still a waste of resources as stated by Op |
maasoap(m): 7:31pm On Dec 09, 2024 |
aicon4s: This is also a good reason. And in that case, it is still a business strategy but not for just house rents 1 Like |
maasoap(m): 7:36pm On Dec 09, 2024 |
Goodnewsforlife: Buildings depreciate with years just like motors but at a slower rate. What makes buildings look like they're appreciating is the plots of land upon which they are built, it is the land that appreciates, not the building. Buy multiple genuine lands instead of wasting money on a single land. Though, the high rate at which naira is losing value also makes building and motors appreciate which ordinarily is not a normal economic principle 1 Like |
maasoap(m): 7:39pm On Dec 09, 2024 |
004gist: People buy lands for various reasons. Op is specific about what he's saying. Nobody told you not build a house or invest in real estates but just that you should think about it if you want to wait for like 20 years and above before recouping your money 2 Likes |
004gist: 8:03pm On Dec 09, 2024 |
maasoap: Even if u invest in productive ventures.. You still can't recoup the funds in few years. It take several years to breakeven n that's even if the business doesn't die off. House is a sure investment. A place i bought n wanted to build a 2 bedroom is going for 850k per month. So investment in this sector is a nice investment |
maasoap(m): 8:07pm On Dec 09, 2024 |
ZACHIE: You don't have to keep it your , look for low risk businesses/investments. Low risks means low returns but far better returns than yearly house rents |
maasoap(m): 8:11pm On Dec 09, 2024 |
004gist: Not several years if you invest in business. And of course, businesses have their own risks too. The point is that you and I might channel the same amount into different things. As for me, I'm not building a house or houses for rents 1 Like |
004gist: 8:16pm On Dec 09, 2024 |
maasoap: No one forces u.. So u guys should keep ur opinions to ur selves. If you tell someone who is ik away not to return home to build something there is no way he can come to do business. Because he will need to be on ground to run the business. One thing we know our people who travel outside is their structure theu put on ground n this helps funds circulate in local economy.. Those selling rods, cement, labourer will sell, it creates a multiplier effect... A friend who told me he wants to start investing in real estate from next yesr to 5 years just grow cold feet that he will now buy a building in Europe. That someone posted against buildings etc. This advice will hurt local economy big time. U guys should have sense 1 Like |
maasoap(m): 8:18pm On Dec 09, 2024 |
004gist: You are losing it, keep it together rude boy |
004gist: 8:23pm On Dec 09, 2024 |
maasoap:Who are u calling boy? Is it because we are on faceless forum? Ewu So u guys should keep ur opinions to ur selves. If you tell someone who is away not to return home to build something there is no way he can come to do business. Because he will need to be on ground to run the business. One thing we know our people who travel outside is their structure theu put on ground n this helps funds circulate in local economy.. Those selling rods, cement, labourer will sell, it creates a multiplier effect... A friend who told me he wants to start investing in real estate from next yesr to 5 years just grow cold feet that he will now buy a building in Europe. That someone posted against buildings etc. This advice will hurt local economy big time. I am in Europe right now i cant open any business in Nigeria when i am here and its only when i leave here i can do that in future U guys should have sense |
maasoap(m): 8:28pm On Dec 09, 2024 |
004gist: Grow up. When you are matured emotionally, you can come back to discuss this subject. You are clearly not in control of your emotion, kid. |
004gist: 8:29pm On Dec 09, 2024 |
maasoap: Ur a kid.. Stay off my mention n concentrate on ur subsistence farming in oshogbo |
OkoAmarashy: 8:47pm On Dec 09, 2024 |
IamANigerianMan: You're the idiot who said Deji Adeyanju can become a SAN in 2 years. You're very daft and lack the mental capacity to advice anyone. |
vikstandon(m): 9:20pm On Dec 09, 2024 |
jayce232: You have a clear grasp of real estate market. |
IamANigerianMan: 9:47pm On Dec 09, 2024 |
OkoAmarashy:I will not respond to useless people like you, N50 condom would have solve this problem, like I said I will not respond to people who have not use to the society ... |
kessler53(m): 9:53pm On Dec 09, 2024 |
SUPERPACK:You sabi the business |
OkoAmarashy: 11:26pm On Dec 09, 2024 |
IamANigerianMan: You're a bottom feeder in the society. A dreg, unexposed, poor, foolish and daft. Go and check through your posts history and see how congenital madness has ruined your lineage. |
InvertedHammer: 3:09am On Dec 10, 2024 |
/ The primary aim is asset appreciation adjusted for inflation and not rent. Keeping cash in the bank is still one of the most idiotic things to do. Banks do not store cash. They lend them out to investors, earn good interest rates and give a paltry fraction to the depositors. / |
kossyablaze(m): 5:35am On Dec 10, 2024 |
Arutan:Mr Linus. 32m in 2023 is equal to 80 to 90m this year. You lost as long as naira is worthless and not appreciating. |
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