Re: Treasury Bills In Nigeria by Nobody: 2:21pm On Jul 05, 2021 |
PresidentBuhari:
On paper Nigeria is broke but the majority of cash held by Nigerian elites and crooks s far more than the reserves on paper.
Some Nigerians hold $2 Billion, $500m, $700m in cash with banks. Most of the funds are from embezzlement, the majority is poor which is what matters.
On the other hand lack of basic, social and infrastructural amenities is what makes Nigeria poor.
There are many countries in the world even the UK where everyone can survive with £5 per day on just food due to the basics is freely available. On no can everyone survives on £5 a day in Nigeria, though people do but it's bottleneck survival.
I think you may be confused. £5 a day in Nigeria is more valuable than £5 a day in the UK. In Naija, that’s close to 100k monthly na. Way higher than minimum wage. Many people are doing okay on that salary.
In the UK, you are dirt poor and probably a homeless guy if you live on £150 pounds a month.
12 Likes |
emmanuelewumi(m): 3:45pm On Jul 05, 2021 |
Lazyyouth4u:
I think you may be confused. £5 a day in Nigeria is more valuable than £5 a day in the UK. In Naija, that’s close to 100k monthly na. Way higher than minimum wage. Many people are doing okay on that salary.
In the UK, you are dirt poor and probably a homeless guy if you live on £150 pounds a month.
Can that get a decent accommodation for a week
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PresidentBuhari: 4:33pm On Jul 05, 2021 |
£5 in the UK is more valuable than £5 in Nigeria, only someone who has spent reasonable amount of time or lives in the UK and have lived in Nigeria can confirm this, I can't go into more details so to leave room for your inquiry.
An ideal society is built to cater for all class of people and that is why countries like the UK always seem attractive.
Lazyyouth4u:
I think you may be confused. £5 a day in Nigeria is more valuable than £5 a day in the UK. In Naija, that’s close to 100k monthly na. Way higher than minimum wage. Many people are doing okay on that salary.
In the UK, you are dirt poor and probably a homeless guy if you live on £150 pounds a month.
6 Likes |
Re: Treasury Bills In Nigeria by Nobody: 5:04pm On Jul 05, 2021 |
PresidentBuhari:
£5 in the UK is more valuable than £5 in Nigeria, only someone who has spent reasonable amount of time or lives in the UK and have lived in Nigeria can confirm this, I can't go into more details so to leave room for your inquiry.
An ideal society is built to cater for all class of people and that is why countries like the UK always seem attractive.
And you are assuming that I am not speaking from experience? 
Oga if you are making £150 a month in the UK, you are royally fuked. You can’t even get anywhere to live on that pitiful amount. You will be living on the streets. Even if na only for food, what foods will you be eating with that money three times a day?
In Naija, people are raising families with 100k monthly salary which is the NGN equivalent.
9 Likes |
PresidentBuhari: 5:30pm On Jul 05, 2021 |
If you are living in the UK there won't be need to argue about it. The UK grocery market caters for all class, food is basic and luxury at the same time. The foods purchased at Tesco has same quality control with the foods at Waitrose.
A 500ml bottle of water costs £3 at M&S while 1 litre bottle of water (double the size ) costs 0.25 at Asda.
Lazyyouth4u:
And you are assuming that I am not speaking from experience? 
Oga if you are making £150 a month in the UK, you are royally fuked. You can’t even get anywhere to live on that pitiful amount. You will be living on the streets. Even if na only for food, what foods will you be eating with that money three times a day?
In Naija, people are raising families with 100k monthly salary which is the NGN equivalent.
3 Likes |
maishai: 8:58pm On Jul 05, 2021 |
NL1960:
Oga Emma, you can do whatever you like with your properties. It is your right. We are all humans . I think a tenant that pays promptly should not be given quit notice just because you want to make more money from a new tenant. You have said this same thing before coupled with saying that a prosoective tenant whose wife is not working cannot rent your property.
You are well respected here and i have been following you since SMN days. I think you should relax some of these your conditions.
Tenants on my street have invested so much into the street in of security, street lights, maintenance, generator for the street light. So imagine after 5 years, a tenant who has been prompt in rent payment is told by a landlord to vacate because he has 5 years principle on his properties. Is that capitalism or cult?.
Oga Emma has dropped a Golden rule.......... Please digest before emotions................ The decision to be a good tenant is a personal decision, most at times its not even about the increment but the entitlement mentality................ personally, I have a beef with some of my co-tenant as they feel I have too much money cos i pay my rent as at when due............. There is always something that comes up when its time to pay the rent.............. I feel if one has taken time to erect a good structure in a prime location, one should take this approach, the typical tenant is a vicious animal ready to milk the last drop of his annual rent......................... I say this from experience living in rental property
I'm yet to have a rental property but when I have one I would follow this approach........... Personally one should take this approach even with the caretaker of the property, the average Nigerian has too many problems and would rather use your money to solve their problems except there is a threat of physical injury and humiliation
There are too many bad eggs spoiling it for principled persons like you and me
24 Likes |
Reine22: 8:59pm On Jul 05, 2021 |
PresidentBuhari:
If you are living in the UK there won't be need to argue about it. The UK grocery market caters for all class, food is basic and luxury at the same time. The foods purchased at Tesco has same quality control with the foods at Waitrose.
A 500ml bottle of water costs £3 at M&S while 1 litre bottle of water (double the size ) costs 0.25 at Asda.
Nobody and I mean nobody can survive on a £150 per month in the UK. Even if you eat £1 worth of meals a day. When there’s rent, electricity, transport and phone bills at the minimum to be paid. The UK is very expensive
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Re: Treasury Bills In Nigeria by Nobody: 9:05pm On Jul 05, 2021 |
PresidentBuhari:
If you are living in the UK there won't be need to argue about it. The UK grocery market caters for all class, food is basic and luxury at the same time. The foods purchased at Tesco has same quality control with the foods at Waitrose.
A 500ml bottle of water costs £3 at M&S while 1 litre bottle of water (double the size ) costs 0.25 at Asda.
You are not making sense. Where will the person now live? How will he pay for heat, light and water bill? Transport fare nko? I won’t argue with you jare.
7 Likes |
Re: Treasury Bills In Nigeria by Nobody: 9:07pm On Jul 05, 2021 |
[quote author=Reine22 post=103405424][/quote]
Don’t mind that guy. Some people just argue for the sake of arguing.
4 Likes |
ositadima1(m): 9:18pm On Jul 05, 2021 |
Lazyyouth4u:
You are not making sense. Where will the person now live? How will he pay for heat, light and water bill? Transport fare nko? I won’t argue with you jare.
People live in thier vehicles if u have one lol, if you are down on ur luck you can manage train stations, use public gym for baths. Life goes on, if you know your way, u can get free food, dumpster diving. Free clothes too, some religious organizations like caritas give very good clothes and shoes. Lol, d shit some people go through to live abroad eh
10 Likes |
PresidentBuhari: 9:39pm On Jul 05, 2021 |
[quote author=Reine22 post=103405424][/quote]
This was my initial post with emphasis in bold
[quote author=PresidentBuhari post=103391128]
On paper Nigeria is broke but the majority of cash held by Nigerian elites and crooks s far more than the reserves on paper.
Some Nigerians hold $2 Billion, $500m, $700m in cash with banks. Most of the funds are from embezzlement, the majority is poor which is what matters.
On the other hand lack of basic, social and infrastructural amenities is what makes Nigeria poor.
There are many countries in the world even the UK where everyone can survive with £5 per day on just food due to the basics is freely available. On no can everyone survives on £5 a day in Nigeria, though people do but it's bottleneck survival.
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Re: Treasury Bills In Nigeria by Nobody: 10:03pm On Jul 05, 2021 |
ositadima1:
People live in there vehicles if u have one lol, if you are down on ur luck you can manage train stations, use public gym for baths. Life goes on, if you know your way, u can get free food, dumpster diving. Free clothes too, some religious organizations like caritas give very good clothes and shoes. Lol, d shit some people go through to live abroad eh
Hmmm, you have a point
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IyaTola: 10:04pm On Jul 05, 2021 |
Lazyyouth4u:
And you are assuming that I am not speaking from experience? 
Oga if you are making £150 a month in the UK, you are royally fuked. You can’t even get anywhere to live on that pitiful amount. You will be living on the streets. Even if na only for food, what foods will you be eating with that money three times a day?
In Naija, people are raising families with 100k monthly salary which is the NGN equivalent.
This is dependent on the number of mouth in the family.
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IyaTola: 10:05pm On Jul 05, 2021 |
ositadima1:
People live in there vehicles if u have one lol, if you are down on ur luck you can manage train stations, use public gym for baths. Life goes on, if you know your way, u can get free food, dumpster diving. Free clothes too, some religious organizations like caritas give very good clothes and shoes. Lol, d shit some people go through to live abroad eh
what?!
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Re: Treasury Bills In Nigeria by Nobody: 10:07pm On Jul 05, 2021 |
PresidentBuhari:
This was my initial post with emphasis in bold
Do you know how much food can be bought with 3,500 per day in Naija? Abi you think say common man dey go buy foodstuff for shoprite?
1 Like |
ositadima1(m): 10:36pm On Jul 05, 2021 |
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maishai: 11:39pm On Jul 05, 2021 |
ositadima1:
People live in thier vehicles if u have one lol, if you are down on ur luck you can manage train stations, use public gym for baths. Life goes on, if you know your way, u can get free food, dumpster diving. Free clothes too, some religious organizations like caritas give very good clothes and shoes. Lol, d shit some people go through to live abroad eh
Dats the definition of MADNESS in Nigeria...... Oyibo just gave it sexy name
1 Like |
emmanuelewumi(m): 3:53am On Jul 06, 2021 |
maishai:
Oga Emma has dropped a Golden rule.......... Please digest before emotions................ The decision to be a good tenant is a personal decision, most at times its not even about the increment but the entitlement mentality................ personally, I have a beef with some of my co-tenant as they feel I have too much money cos i pay my rent as at when due............. There is always something that comes up when its time to pay the rent.............. I feel if one has taken time to erect a good structure in a prime location, one should take this approach, the typical tenant is a vicious animal ready to milk the last drop of his annual rent......................... I say this from experience living in rental property
I'm yet to have a rental property but when I have one I would follow this approach........... Personally one should take this approach even with the caretaker of the property, the average Nigerian has too many problems and would rather use your money to solve their problems except there is a threat of physical injury and humiliation
There are too many bad eggs spoiling it for principled persons like you and me
You are correct.
You have written from the point of responsibility and reason, devoid of sentiments and an entitlement mentality.
12 Likes 1 Share |
mickky22: 6:06am On Jul 06, 2021 |
Good day Gurus in house
Kindly with information about Ritz investment advisors ltd.
Thank you
2 Likes |
kalu61(m): 6:48am On Jul 06, 2021 |
NL1960:
You are missing the point. Go back and read the exchanges. The issue is quitting those that pay promptly after 5 years and not quitting those that refuse to pay. If i many ask, if you are in a rentage, how many years have you spent there?.
l'm a silent follower of this thread. I read where it all started.
We are saying the same thing. As long as the duration is stated clearly in tenancy agreement form, there is no cause for alarm. Except his lawyer wakes up every five years to issue quit notice to up to date paying tenants, then your argument is valid.
I'm not on rentage. I live in our property or house for 10 years now with other tenants.
5 Likes |
ukay2: 6:49am On Jul 06, 2021 |
maishai:
Oga Emma has dropped a Golden rule.......... Please digest before emotions................ The decision to be a good tenant is a personal decision, most at times its not even about the increment but the entitlement mentality................ personally, I have a beef with some of my co-tenant as they feel I have too much money cos i pay my rent as at when due............. There is always something that comes up when its time to pay the rent.............. I feel if one has taken time to erect a good structure in a prime location, one should take this approach, the typical tenant is a vicious animal ready to milk the last drop of his annual rent......................... I say this from experience living in rental property
I'm yet to have a rental property but when I have one I would follow this approach........... Personally one should take this approach even with the caretaker of the property, the average Nigerian has too many problems and would rather use your money to solve their problems except there is a threat of physical injury and humiliation
There are too many bad eggs spoiling it for principled persons like you and me
Very Apt.
My old tennants resisted increase in my rental apartments with the new tennants.
More than 5years now, I have not increased rental fees despite bearing the maintenance of the building. I have decided not to increase the rentals, let the rental incomes keep coming and be diversifying into equities like updc-reit etc. The tennants seem to be happy to have nice landlord 
The troubles of real estate investment in the country have made me not to build any other rental apartments; having discovered the easy way of doing investments in equities and fixed income Investments without headaches.
8 Likes |
QuinModah(f): 7:54am On Jul 06, 2021 |
maishai:
Oga Emma has dropped a Golden rule.......... Please digest before emotions................ The decision to be a good tenant is a personal decision, most at times its not even about the increment but the entitlement mentality................ personally, I have a beef with some of my co-tenant as they feel I have too much money cos i pay my rent as at when due............. There is always something that comes up when its time to pay the rent.............. I feel if one has taken time to erect a good structure in a prime location, one should take this approach, the typical tenant is a vicious animal ready to milk the last drop of his annual rent......................... I say this from experience living in rental property
I'm yet to have a rental property but when I have one I would follow this approach........... Personally one should take this approach even with the caretaker of the property, the average Nigerian has too many problems and would rather use your money to solve their problems except there is a threat of physical injury and humiliation
There are too many bad eggs spoiling it for principled persons like you and me
Very apt!
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QuinModah(f): 7:56am On Jul 06, 2021 |
ukay2:
Very Apt.
My old tennants resisted increase in my rental apartments with the new tennants.
More than 5years now, I have not increased rental fees despite bearing the maintenance of the building. I have decided not to increase the rentals, let the rental incomes keep coming and be diversifying into equities like updc-reit etc. The tennants seem to be happy to have nice landlord 
The troubles of real estate investment in the country have made me not to build any other rental apartments; having discovered the easy way of doing investments in equities and fixed income Investments without headaches.
This popping up again, is it actually profitable? Would you advise I sell off my property and invest in it? Are there no challenges to the bolded, given the fact that, it the same real estate business.
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QuinModah(f): 7:58am On Jul 06, 2021 |
kalu61:
l'm a silent follower of this thread. I read where it all started.
We are saying the same thing. As long as the duration is stated clearly in tenancy agreement form, there is no cause for alarm. Except his lawyer wakes up every five years to issue quit notice to up to date paying tenants, then your argument is valid.
I'm not on rentage. I live in our property or house for 10 years now with other tenants.
How has the experience been like?
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emmanuelewumi(m): 8:02am On Jul 06, 2021 |
ukay2:
Very Apt.
My old tennants resisted increase in my rental apartments with the new tennants.
More than 5years now, I have not increased rental fees despite bearing the maintenance of the building. I have decided not to increase the rentals, let the rental incomes keep coming and be diversifying into equities like updc-reit etc. The tennants seem to be happy to have nice landlord 
The troubles of real estate investment in the country have made me not to build any other rental apartments; having discovered the easy way of doing investments in equities and fixed income Investments without headaches.
They are shareholders in your house na.
They will form Tenant Union.
Our entitlement mentality is appalling.
It is right when an employee leaves his employer, but wrong when your employer asks employees to leave his business and go and do great things for themselves
It is right when a tenant moves out of a house when his social status is elevated or can't cope with his rent, but it is wickedness when a landlord asks his tenant to quit even after giving six months notice and the landlord is ready to forego rent for another six months.
Just sell the house and use the proceeds to buy more REITs or build an investment property
7 Likes |
kalu61(m): 8:34am On Jul 06, 2021 |
QuinModah:
How has the experience been like?
First, it really gave me first hand idea about state of Nigeria real estate. My brother is heavily investing in real estate and l can say, it is worth investing in if one is really.... really patient and wants to save or tie down cash.
Secondly, locating property in areas of potential value is a key factor because that's where the asset value reside. What's the city population size? Which areas are estate investors migrating to or the city expanding to?.
The property where l stay was build in 2010. I can't say about the cost of building materials then but l am very sure the 2 story buidling cost less than 25m plus land. During the lockdown before renovations was done, it was priced at 70M but was turned town.
The tenants now are capable. One flat is permanent for Winners Chapter deputy state pastor. One is a lecturer, the other Politician, another Pastor. The only issue is the Yahoo boys downstairs. Blasting music some part of the time and l can't tell how many there are in that flat. I keep seeing faces but they are cool. No problems. The Lecturer changed all the security lighs, said he loves light. the politician bought packlock for the big gate and wants security man but other tenants are not buying into that.
We have a WhatsApp group and it's all fun especially during birthdays. Good experience.
Only family people with children are given apartment. The Yahoo boys were exception, the lawyer wanted to use price to pursue them but niggars still paid
4 Likes |
ukay2: 8:49am On Jul 06, 2021 |
emmanuelewumi:
They are shareholders in your house na.
They will form Tenant Union.
Our entitlement mentality is appalling.
It is right when an employee leaves his employer, but wrong when your employer asks employees to leave his business and go and do great things for themselves
It is right when a tenant moves out of a house when his social status is elevated or can't cope with his rent, but it is wickedness when a landlord asks his tenant to quit even after giving six months notice and the landlord is ready to forego rent for another six months.
Just sell the house and use the proceeds to buy more REITs or build an investment property
Definitely, the house will be sold.
One of the decisions l made in my early days.
1 Like |
ukay2: 8:52am On Jul 06, 2021 |
QuinModah:
This popping up again, is it actually profitable? Would you advise I sell off my property and invest in it? Are there no challenges to the bolded, given the fact that, it the same real estate business.
Hmmm
I would advise you seek advice from your investment manager.
4 Likes |
emmanuelewumi(m): 9:09am On Jul 06, 2021 |
Indeed family is everything.
2 Likes 
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NL1960: 9:45am On Jul 06, 2021 |
maishai:
Oga Emma has dropped a Golden rule.......... Please digest before emotions................ The decision to be a good tenant is a personal decision, most at times its not even about the increment but the entitlement mentality................ personally, I have a beef with some of my co-tenant as they feel I have too much money cos i pay my rent as at when due............. There is always something that comes up when its time to pay the rent.............. I feel if one has taken time to erect a good structure in a prime location, one should take this approach, the typical tenant is a vicious animal ready to milk the last drop of his annual rent......................... I say this from experience living in rental property
I'm yet to have a rental property but when I have one I would follow this approach........... Personally one should take this approach even with the caretaker of the property, the average Nigerian has too many problems and would rather use your money to solve their problems except there is a threat of physical injury and humiliation
There are too many bad eggs spoiling it for principled persons like you and me
The Oga Emma rule does not solve the problem of a tenant that does not want to pay. If a tenant knows that he can only stay in a property for just 5 years despite paying promptly, nothing stops the tenant becoming problematic after 3 years and then dragging the issue to court for 2 years because afterall, he/she knows that he/she will given quit notice after 5 years. Such a tenant will start systematically destroying the property in the 3rd, 4th and 5th year. No be only one person get sense.
Btw, you are presently a tenant. How many years have you spent in your present tenancy?.
1 Like |
emmanuelewumi(m): 9:47am On Jul 06, 2021 |
kalu61:
First, it really gave me first hand idea about state of Nigeria real estate. My brother is heavily investing in real estate and l can say, it is worth investing in if one is really.... really patient and wants to save or tie down cash.
Secondly, locating property in areas of potential value is a key factor because that's where the asset value reside. What's the city population size? Which areas are estate investors migrating to or the city expanding to?.
The property where l stay was build in 2010. I can't say about the cost of building materials then but l am very sure the 2 story buidling cost less than 25m plus land. During the lockdown before renovations was done, it was priced at 70M but was turned town.
The tenants now are capable. One flat is permanent for Winners Chapter deputy state pastor. One is a lecturer, the other Politician, another Pastor. The only issue is the Yahoo boys downstairs. Blasting music some part of the time and l can't tell how many there are in that flat. I keep seeing faces but they are cool. No problems. The Lecturer changed all the security lighs, said he loves light. the politician bought packlock for the big gate and wants security man but other tenants are not buying into that.
We have a WhatsApp group and it's all fun especially during birthdays. Good experience.
Only family people with children are given apartment. The Yahoo boys were exception, the lawyer wanted to use price to pursue them but niggars still paid
What is the rental income from the property?
@ 2 storey, is that 3 floors.
Ground floor, 1st floor and 2nd floor.
What part of town is the property located?
What percentage of the rental income will keep for the maintenance of the property
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NL1960: 10:03am On Jul 06, 2021 |
kalu61:
l'm a silent follower of this thread. I read where it all started.
We are saying the same thing. As long as the duration is stated clearly in tenancy agreement form, there is no cause for alarm. Except his lawyer wakes up every five years to issue quit notice to up to date paying tenants, then your argument is valid.
I'm not on rentage. I live in our property or house for 10 years now with other tenants.
That is where the issue is coming from. It is never written into it. It is codedly done in the 5th year in order to collect a higher rent from new tenants because by the 5th year, there is no way you can increase the rent of an existing tenant to match that of a new tenant.
There is a landlord in my area. Once a new building springs up, he goes to find out the rent for it and then tell his tenants that the going rate in that area is that price and so they should all pay that new price even though his property might be 15 years old.
1 Like |