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

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!

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

zuraking:
hmmmm

Before I design houses, some clients do ask me “How much rent do you think we can get on this project?”

Some things just don’t make any business/investment sense.
In some cases, I tell them we can’t get good rent but we can sell off the project (eg Browne Mews)

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.

Not possible in Nigeria, in 5yrs... Lekki with high rent don't achieve it in 8months

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.

Brabus not true...

Chekitaut:
Brabus not true...

Smiles. I don’t know how much they sell Granites but as an authority in one of the most respected property website in Nigeria, I can tell you how much a Terrace duplex cost in Agungi.

N2,500,000 Terrace duplexes are far inside and in areas with fewer development/bad roads.

This is my 11th year as an author on the NPC website.

n3xt:


Smiles. I don’t know how much they sell Granites but as an authority in one of the most respected property website in Nigeria, I can tell you how much a Terrace duplex cost in Agungi.

N2,500,000 Terrace duplexes are far inside and in areas with fewer development/bad roads.

This is my 11th year as an author on the NPC website.

Hype, we all know how is done, different packages, some are sold out installment plan. But rent no no no.

Chekitaut:
Hype, we all know how is done, different packages, some are sold out installment plan. But rent no no no.

I didn’t post offplan sales na. I only shared with you the cost of renting a Terrace duplex in Agungi.

Any other contrary view/opinion is unacceptable as Nigeria Property Centre remains one of the most reliable source of information on rental properties.

I won’t believe Mr Chekitaut more than a site with over 50,000k listed properties and with detailed information on each.

O wrong nau!

n3xt:


I didn’t post offplan sales na. I only shared with you the cost of renting a Terrace duplex in Agungi.

Any other contrary view/opinion is unacceptable as Nigeria Property Centre remains one of the most reliable source of information on rental properties.

I won’t believe Mr Chekitaut more than a site with over 50,000k listed properties and with detailed information on each.

O wrong nau!

Agungi for sale price oooo same from my build & sell customer

OAK Group wishes you a blessed week.
We still design and construct and construct houses.
08108408732.
https://www.nairaland.com/6266944/construction-semi-detached-duplex#96299588

zuraking:
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.

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.

gcardcodes:
Change your dollar to naira at the best rate.
I AM BUYING YOUR DOLLARS
Cash deposit/transfer in Dollars
PAYONEER dollars
Perfect money dollars
Skrill dollars
Neteller dollars

RATE: $1=460Naira

Quick payment after funds is received in our account.

Call /WhatsApp: +2349023807218
Terms and Condition Applies .

EgunMogaji2:

he is looking for Christmas goat to japa with his money

Cement Request

I got a request from a Nairalander for 300 bags of cement around Makun, Lagos/Ibadan Expressway.

Pls kindly get in touch with me as I do not have your number again.

Tnx.

gcardcodes:
Change your dollar to naira at the best rate.
I AM BUYING YOUR DOLLARS
Cash deposit/transfer in Dollars
PAYONEER dollars
Perfect money dollars
Skrill dollars
Neteller dollars

RATE: $1=460Naira

Quick payment after funds is received in our account.

Call /WhatsApp: +2349023807218
Terms and Condition Applies .

One US dollar to N460
Do you really think people here are mumu
Please go play with yourself
Try one US dollar to N475 - N485

WTH is Oribanwa?

Once you start seeing Lekki-Ajah just know that you're more towards Ajah than Lekki.
A developer will NEVER advertise an Argungi (which is Lekki proper) property and write Lekki-Ajah. That's downselling. de-marketing.

Moreover, i can tell you for free that those prices quoted are closer to Ajah prices, even lower sef. Take the old watered down Lekki Gardens by Abraham Adesanya as an example, you can't get them as cheap as your post.
N28.5m for new 4bed terrace in Argungi and the house is still available? when same sells for 40m offplan outright on Orchid road? Impossicant!

I suspect you don't have all the info correctly about this your customer and his/her offering.

Even Argungi is different from Argungi. That's why he mentioned that in Argungi there is inside inside with bad roads and there's outside that's cream and proper which commands higher sale/rental value.

Never forget the first rule in real estate/property investment: LOCATION IS EVERYTHING!

Chekitaut:
Agungi for sale price oooo same from my build & sell customer

You encourage buying land in Ibeju Lekki? I want to read more from you because I am at a crossroad.

Dijita:


Ignorant and people want proximity to their job in the island. If you are in diaspora and you want to buy land in Lagos, I am going to advise that you go to Ibeju/Lekki beach area. I will be posting some images soon to help people distinguish between swamp and dry land in the area

Why not keep it in digital currencies?

Chekitaut:
bleed to receive ur message...

Pls put your savings in Dollars. Naira is sinking

somehow:
You encourage buying land in Ibeju Lekki? I want to read more from you because I am at a crossroad.

Are you looking to invest or you are looking for a forever home? In property business, this is called exit strategy. What is your exit strategy?

You shouldn't be at crossroads if you've got your exit strategy nailed.

If you are looking to build a forever home, any location including your village that meets the causal components of your life chances is game be it swamp or on top Aso rock.

If those pictures that are being posted up and down of the island meet my idea of a decent location/neighbourhood, I will buy in swamp or no swamp. But if I'm looking to invest, the whole calculus change kpatakpata.

I can't use 20 million Naira for ground preparatory works (foundation) only and end up sinking 70 million for a duplex and be collecting 2 million annually and think this is game when I can use 70 million to build a plaza of 50 stores in dry land and be collecting 3 million Naira a month in rent as a minimum.

mobileboy:
Surveyors in the house, please what should I budget for surveying of a 60 by 40 land in inwards of ikorodu, Lagos

How soon can it be ready and how can I be sure the surveyor truly lodge the details at Alausa

we can get it done for you in less than 2weeks and the record copy will be lodge at Alausa with evidence. For more information please call or chat My No. 08069018449

If you are buying land in Moniya, Ibadan, be extra careful because of the proposed Train Station there, so many land have earmarked has government acquisition. Both State and Federal Govt. so be warned, make sure you chart the land before you pay for it.

Hello,

You posted a distress sale land on the mainland for 5m recently. Is it still available?

Thanks

SurveyorGeo:
If you are buying land in Moniya, Ibadan, be extra careful because of the proposed Train Station there, so many land have earmarked has government acquisition. Both State and Federal Govt. so be warned, make sure you chart the land before you pay for it.

megacontrol:
Hello,

You posted a distress sale land on the mainland for 5m recently. Is it still available?

Thanks

Yes sir

diordaves:


Are you looking to invest or you are looking for a forever home? In property business, this is called exit strategy. What is your exit strategy?

You shouldn't be at crossroads if you've got your exit strategy nailed.

If you are looking to build a forever home, any location including your village that meets the causal components of your life chances is game be it swamp or on top Aso rock.

If those pictures that are being posted up and down of the island meet my idea of a decent location/neighbourhood, I will buy in swamp or no swamp. But if I'm looking to invest, the whole calculus change kpatakpata.

I can't use 20 million Naira for ground preparatory works (foundation) only and end up sinking 70 million for a duplex and be collecting 2 million annually and think this is game when I can use 70 million to build a plaza of 50 stores in dry land and be collecting 3 million Naira a month in rent as a minimum.

Both, looking for personal and commercial but the former comes first in my scale of preference.
I like quiet environment and not the crowd type but access to the food and lifestyle market is a must. (closeness to the mainland or major market without having to pass through hell is paramount)
I like the beach but can't stand flood hence my quest for dry land.

I hope I have answered the questions you raised?

SurveyorGeo:


Yes sir

Where on the mainland?

Dijita:

Don't mean to be off topic but is anyone in the diaspora able to sell dollar for #470' The highest I ever get is #435

I know it's off topic but why is Google still saying 1$ equals #381.50 when it's supposed to be #480

official/CBN rate, not parallel/black market rate is what you'll see on google

amosblisz:


I know it's off topic but why is Google still saying 1$ equals #381.50 when it's supposed to be #480

somehow:

Where on the mainland?

behind unilag estate, magodo

SurveyorGeo:


behind unilag estate, magodo

Can we talk?
Is the land dry?
Did you see the pictures I posted on this thread yesterday? I was around there some days ago but can't say if it's the same area.

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

diordaves:


If you could use numbers and examples to explain how developers are making a kill flipping on those same swampy land, that would be most appreciated.

I'm really trying hard, but the numbers are not stacking up.

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

This is what I call “crunching the numbers”