OgogoroFreak:
Then, Reduce the price nau.

Maybe I should give it out free. It's on it's minimum price. Ain't no Shylock, trying to build up capital for tbills.

Barrytone:

Maybe I should give it out free. It's on it's minimum price. Ain't no Shylock, trying to build up capital for tbills.

Better!
Where is the house located? Let's see if it's something I can accept for free.

Rush for T-Bills to Weaken Rates at Wednesday's PMA
https://businesspost.ng/economy/rush-for-t-bills-to-weaken-rates-at-wednesdays-pma/

[quote

Though I don't know the size of the compound in question at shelter afrique and I don't know if it's only that storey building that is inside the compound.
But looking at it the other way round, 3bedrooms might be down, 2bedroom and 1bedroom might be up with a little expansion. This mean the land might not be up to 50 by 50.
If 5m is set aside for the land and 35m is set for the building, furnishing and interest, I think it's fair.

[quote

I guess the twin 3bedroom flat might be in Eket. The finishing level is obviously not known. The land size in the estate for the 3bedroom goes for 6m you said. To me, the 15m is not bad but the major challenge is the current economy situation in the country.
FMBN put up its 3bedroom semidetached bungalows for sale in Uyo opposite University of Uyo Teaching Hospital at 9.2m since last year. Very nice location with good road network under construction by Federal Ministry of Works and it shares boundary with Federal Ministry of Works estate. There were no buyers and it was later reduce to 8.5m and still in search of buyers.

Apologies for the digress.... Anyone has a link to insurance or life assurance thread?

dipoolowoo:
Rush for T-Bills to Weaken Rates at Wednesday's PMA
https://businesspost.ng/economy/rush-for-t-bills-to-weaken-rates-at-wednesdays-pma/

can I apply for ntb in Stanbic IBTC on Tuesday prior auction day. Please, I needed response on time in other to plan myself accordingly. Thanks in anticipation

fickyola:





can I apply for ntb in Stanbic IBTC on Tuesday prior auction day. Please, I needed response on time in other to plan myself accordingly. Thanks in anticipation

Yes. But go early.

OgogoroFreak:
Better! Where is the house located? Let's see if it's something I can accept for free.

You get mind, is ok. House is in eket, akwa ibom. The host to Exxonmobil. Popularly called Mkpok housing estate

isangjohnson:
[quote

Though I don't know the size of the compound in question at shelter afrique and I don't know if it's only that storey building that is inside the compound.
But looking at it the other way round, 3bedrooms might be down, 2bedroom and 1bedroom might be up with a little expansion. This mean the land might not be up to 50 by 50.
If 5m is set aside for the land and 35m is set for the building, furnishing and interest, I think it's fair.

The 3 bed room is upstairs, very spacious. Infact that is where am staying. Imagine having 2bedroom and 1 bedroom under plus staircase. Parking space for over six cars. Guy money no dey the town, houses like this were sold for over 70m years back. Just like lasgidi, houses are over priced and time will come that boys will come is and properties will not be attractive. Economics taught me of diminishing returns.

[quote author=Barrytone post=83938587][/quote]

The whole house wahala was what I was trying to explain to someone on this thread who was singing the tune of diversifying one's portfolio especially moving into properties. Owning a property is sweet on paper but in reality can be a pain in the neck especially if you invest in structures.

Buying a house in a good location in this country is 40M and above. How many have this amount? There's no equilibrium in terms of demand and supply.This forces owners to bring down the value which many at times are not even met because nobody has the money to pay the said amount

Barrytone:


You get mind, is ok. House is in eket, akwa ibom. The host to Exxonmobil. Popularly called Mkpok housing estate

Chai! No wonder... Akwa ibom ke? Lagos or nothing. I no want abeg.

[quote

Diminishing return will definitely get to Lagos with time. What happened to unoccupied and unbought buildings in Banana Island.
Property business is not like before. But I still prefer buying and selling of undeveloped plots.

I'm wondering, how do I invest my first 1million?
I've been saving for over a year now and it's close to 1million.
Do I buy landed property or do just Tbills?
I hear land can appreciate by over 200% within 5 five years and it's a good investment too.

Anniie4u:
I'm wondering, how do I invest my first 1million?
I've been saving for over a year now and it's close to 1million.
Do I buy landed property or do just Tbills?
I hear land can appreciate by over 200% within 5 five years and it's a good investment too.

All what most of us here know is tbills. So, to get unbiased advice, ask this question on a new thread in business section.

[quote

Please invest the money in Tb and let it grow first. Forget about landed property for now unless you are very lucky to see someone that wants to sell one in a nice location to solve his pressing problem. A lot of people here buy properties with extra cash while the one in investment is still intact. It's true that land do appreciate but there are a whole lot of things that trigger the appreciation and the risk of loosing your hard earned cash is equally high.

[quote

OgogoroFreak:
All what most of us here know is tbills. So, to get unbiased advice, ask this question on a new thread in business section.

Okay sir

isangjohnson:
[quote

Please invest the money in Tb and let it grow first. Forget about landed property for now unless you are very lucky to see someone that wants to sell one in a nice location to solve his pressing problem. A lot of people here buy properties with extra cash while the one in investment is still intact. It's true that land do appreciate but there are a whole lot of things that trigger the appreciation and the risk of loosing your hard earned cash is equally high.

Thank you for your suggestion.
I hear enticing stories about investing in land but I'm just afraid.

isangjohnson:


Diminishing return will definitely get to Lagos with time. What happened to unoccupied and unbought buildings in Banana Island.
Property business is not like before. But I still prefer buying and selling of undeveloped plots.

Undeveloped plot is the best as people prefer building their own house to buying an already built one.Developed plots again are not cheap and telling someone to drop 30M cash is unfathomable as that will rock many financially and many do not even have the money to begin with.No mortage system to help out.Even in advanced societies, people do not drop cash for houses.

There's so many odds against people who indulge into structures. Best is to just buy undeveloped plots.Leave it till it matures well enough to fetch you something decent and sell it off. Easier to find buyer for an empty space than for a house

Anniie4u:
Thank you for your suggestion.
I hear enticing stories about investing in land but I'm just afraid.

Let me tell you a short story. A couple of years ago, I was in your shoes. I had just saved my first 1m and had two options; I could either buy tbills or buy a land. The people I had around me all encouraged me to get the land...You know what they say about landed properties never depreciating

The land was bought somewhere in the West, spent another 300k on a little fence. I thought I was securing it since I had no immediate use for it. I was recently called to send money to have them cut the grass as it was getting too bushy.

While the grass was being cut, someone told the man the land has been sold to someone else. I placed a call across to the agent who sold it for me and he assured me it was all lies.

The man who sold the land to me through the agent still claims to not have sold the land to anyone else.

As it stands, a report has been made at the police station, the community has been involved and they have told the other "buyer" to present his documents and tell them who sold the land to him on or before next Thursday.

If it happens that the other "buyer" is the genuine owner, that's 1.3m down the drain.

I am not saying you'll have the same experience. I still have another land I bought with no issues (yet ) but if I have to go back in time, I would have chosen tbills without thinking twice.

The choice is yours to make

Someone bought a plot of land somewhere for N200K, and the person doesn't know the location of the property yet since 3 years.

For over 2 years they have been looking for buyers with N200 to N250K, no one has come up. The funny thing was they bought 4 plots, the only person that knows the location of the land is the middle man, if he dies the land dies.

Moral of the story; avoid cheap bush area of lands as they won't appreciate during your lifetime.

Anniie4u:
I'm wondering, how do I invest my first 1million?
I've been saving for over a year now and it's close to 1million.
Do I buy landed property or do just Tbills?
I hear land can appreciate by over 200% within 5 five years and it's a good investment too.

Grupo:

Yes. But go early.

thanks alot

rationalmind:


Let me tell you a short story. A couple of years ago, I was in your shoes. I had just saved my first 1m and had two options; I could either buy tbills or buy a land. The people I had around me all encouraged me to get the land...You know what they say about landed properties never depreciating

The land was bought somewhere in the West, spent another 300k on a little fence. I thought I was securing it since I had no immediate use for it. I was recently called to send money to have them cut the grass as it was getting too bushy.

While the grass was being cut, someone told the man the land has been sold to someone else. I placed a call across to the agent who sold it for me and he assured me it was all lies.

The man who sold the land to me through the agent still claims to not have sold the land to anyone else.

As it stands, a report has been made at the police station, the community has been involved and they have told the other "buyer" to present his documents and tell them who sold the land to him on or before next Thursday.

I am not saying you'll have the same experience. I still have another land I bought with no issues (yet ) but if I have to go back in time, I would have chosen tbills without thinking twice.

The choice is yours to make

Wow - this is very insightful. Thanks for sharing your experience

TotoNaRubber:
Someone bought a plot of land somewhere for N200K, and the person doesn't know the location of the property yet since 3 years.

For over 2 years they have been looking for buyers with N200 to N250K, no one has come up. The funny thing was they bought 4 plots, the only person that knows the location of the land is the middle man, if he dies the land dies.

Moral of the story; avoid cheap bush area of lands as they won't appreciate during your lifetime.

I'll definitely use this advice when I'm ready.
Thanks a lot!

chloride6:


You are clearly trying to sell it too high....

TB is still in place.

I called my banker yesterday, he says I should come and fix.

Naughtysite:


TB is still in place.

I called my banker yesterday, he says I should come and fix.

You can still buy t Bill's..

But better you like 1 year own..

Or buy savings bond

Good morning!

I am moving banks and I'd like to know how much it'll cost in charges to move money from one bank to the other.

Good morning all,

Any suggestion on tomorrow's TB rates for primary auction?

Savings Bond rates are low now 11. for two years and 12. for three years. I think it might be better investing in Tb low rate for two months or thereabout and rollover the interest pending when the rate will go up.

I called First Bank this morning and there was no information yet