NewStats: 3,261,666 , 8,174,697 topics. Date: Friday, 30 May 2025 at 03:01 AM 5s5d4b

Spending 70 million naira to build a 2 story building 3 bedroom flats.

Put the rent at 350,000 naira per year for each flat in a location like Aba, it will take you more than 33 years to breakeven.

House for rent as an investment is what your children will enjoy, not you.

Use your spare money to build if you have excess cash.

If you have 80 million naira in your as a young man, don't use it to build that story building. Reinvest it in your business that gave you that 80 million naira.

You can buy land, but don't build until you have at least times 3-4 of the building budget in your .

jmoore:
Spending 70 million naira to build a 2 story building 3 bedroom flats.

Put the rent at 350,000 naira per year for each flat in a location like Aba, it will take you more than 33 years to breakeven.

House for rent as an investment is what your children will enjoy, not you.

Use your spare money to build if you have excess cash.

If you have 80 million naira in your as a young man, don't use it to build that story building. Reinvest it in your business that gave you that 80 million naira.

You can buy land, but don't build until you have at least times 3-4 of the building budget in your .

I agree. The only building worth renting out are event centers if you do the maths.

You forgot that the building still belongs to you plus the rents coming in. Add it to real estate appreciation and that building will be valued at minimum of 100 million naira in 10 to 15 years time. Add it up and total value from that house in that 35 years will be about #170,000,000.

nlfpmod

SUPERPACK:
You forgot that the building still belongs to you plus the rents coming in. Add it to real estate appreciation and that building will be valued at minimum of 100 million naira in 10 to 15 years time. Add it up and total value from that house in that 35 years will be about #170,000,000.

Read my post again. Build with your spare money.

I know some traders that their businesses stopped growing cos they invested 80% of their money into a building project.

Your current business should not lack funds because you are building a house.

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Politicians do it with looted funds

3 bedroom at 350k? How na

The least you can get for 3 bedroom here is 800k. That's the least

True talk

I Don plasta

Good ....





https://www.youtube.com/watch?v=YrO07kmCh5o?si=c5F67Df4ehHrUqrt

jmoore:
Spending 70 million naira to build a 2 story building 3 bedroom flats.

Put the rent at 350,000 naira per year for each flat in a location like Aba, it will take you more than 33 years to breakeven.

House for rent as an investment is what your children will enjoy, not you.

Use your spare money to build if you have excess cash.

If you have 80 million naira in your as a young man, don't use it to build that story building. Reinvest it in your business that gave you that 80 million naira.

You can buy land, but don't build until you have at least times 3-4 of the building budget in your .

I used to have this mindset painted above until I had the opportunity to discuss with people that own such properties.
One of the best collaterals you can have as a business man is a landed property with a CofO.
With that 2 or 3 storey building worth 150Million you can have access to loan of up to N500 million.
The owners of those properties don't care about the Return on Investment (ROI) on the property, they see it as opportunity to access loans. That's why if you go to places like Onitsha and Aba you will see so many high rise residential buildings. Most of them have been mortgaged for loans.

jmoore:


Read my post again. Build with your spare money.

I know some traders that their businesses stopped growing cos they invested 80% of their money into a building project.

Your current business should not lack funds because you are building a house.

between a fallow land and a building

Which of them have appreciable value more in 10 years to come?

The recent campaigns against investment in building is demonic. Asking those who are away not to return home to invest is demonic.
When i wanted to travel someon had to buy my land and that person happened to come from abroad.

jmoore:
Spending 70 million naira to build a 2 story building 3 bedroom flats.

Put the rent at 350,000 naira per year for each flat in a location like Aba, it will take you more than 33 years to breakeven.

House for rent as an investment is what your children will enjoy, not you.

Use your spare money to build if you have excess cash.

If you have 80 million naira in your as a young man, don't use it to build that story building. Reinvest it in your business that gave you that 80 million naira.

You can buy land, but don't build until you have at least times 3-4 of the building budget in your .

I have said this countless times.
Agree with you.

I agree with this assertion, house for rent is very unprofitable in states like Lagos, Tenant and their wahala, reinvest in your business that gave you that money, that's the point.

as a young man 80 million your lol
please what is the definition of a young man

is rent that cheap in Aba that such house will go for 350K?

just curious........oooooooo

Maybe one day, we will be part of discussions like this,I sell herbs

It all depends on the or

Break even shouldn't take more than 15 years

Absolutely.

Invest my 80 milla in fast moving business and use the proceeds for real estate investment (Event center, shops).

Wash. Rinse. Repeat.

This is basically why real estate investors now prefer to build hotels that bring in daily revenue, instead of apartments that recoup annual earnings.

Hmm.

Don't listen to that nonsense o.

Build that house, bro.

In all you do, retain value for that 70m million. Don't save it in a bank. Be careful which business you do with it.

That house will retain the 70m come what may for ever.

And it is poor thinking saying 350k/annum is what the rent will be in 33 years. Who taught you business?
The house you are living now, how much did you rent it last year, how much is it today?

Build that house. Retain the value of that money. Stop listening to BS.

The hit the Naira took in 2 years should make you learn a big lesson

Not totally true

SUPERPACK:
You forgot that the building still belongs to you plus the rents coming in. Add it to real estate appreciation and that building will be valued at minimum of 100 million naira in 10 to 15 years time. Add it up and total value from that house in that 35 years will be about #170,000,000.

Nothing can be compared to real estate investment if you know what you are doing.
In 2023, i bought a 3 bedroom property for N32m, renovated it to taste with N6m , put it back for sale into the market this year. Some buyers came , priced it for N60m -N65m but i declined, i waited till a buyer came and bought it for N79m. Just within a year. I have used this part of the sales proceeds to purchase another 3 bedroom in another location nearby for N40m and started renovation. It will go into the market in 2025/2026. Real estate fetches you bulk millions and there are few businesses that can match it. It secures you firmly with minimal risk. Just ensure you buy in a genuine and approved location. Avoid fraudsters at all cost. Do thorough and meticulous investigation before you part with your money to purchase any property.

You are right, but not all locations, places like lekki phase1 where houses are very expensive, you can recoup your money back in 5-10years..

But some locations where houses are very cheap, yes it will take time to breakeven..

From the little your tenant are paying is what you will also budget to renovate the house often time, most especially, if you have a bad tenants, who use house like pigs

004gist:
The recent campaigns against investment in building is demonic. Asking those who are away not to return home to invest is demonic.

Nobody is asking your father not to build apartments for rent. It's just more economically viable to invest sums in other ventures instead of buildings that some lackadaisical tenants will eventually deface, as if they can mould a bag of cement into blocks.

Can not be up to 30yrs in Lagos

This is a brilliant submission. Be intentional about the building of your business to gain higher financial ground before venturing into building houses for rent

Oyelayor:
3 bedroom at 350k? How na

The least you can get for 3 bedroom here is 800k. That's the least

Are you at Aba?

Noted

OP, your opinion is noted.
the location of the such building might bring a faster ROI than the number years you stipulated.

Anyway, for your quality stone coated roofing tiles and Aluminum roofing sheets;
Check my signature below.

Goodnewsforlife:
between a fallow land and a building

Which of them have appreciable value more in 10 years to come?

Fallow land. But the issue there, is that it might be revoked, if you fail to develop it. And if you are unlucky to have Pharaoh wey no sabi Joseph.
Somebody like Wicked Wike will revoke it.