n3xt:


@hamtabfawaz

You want to know why? No builder has x-ray vision.

The scope of work must be well defined and agreed by both party (client and contractor) involved. You don’t want to inherit another man’s wahala.

. ... at first, I was wondering why.

My thoughts were (n3xt don pass that level)

True Talk sha, i understand


But Regardless, I believe there's nothing you can't handle when it comes to building. (If you are interested) .

hamtabfawaz:



. ... at first, I was wondering why.

My thoughts were (n3xt don pass that level)

True Talk sha, i understand


But Regardless, I believe there's nothing you can't handle when it comes to building. (If you are interested) .

I’ll rather consult for free.

A house is an investment. And an asset. It may not be the most profitable investment particularly if it is owner occupied and in some instances, with more profitable options, makes sense to actually rent rather than own.
But it is an investment. Not all investments give returns immediately. If I bought a plot of land and just left it for 20 years, it would have earned me nothing in 20 years but I may be looking forward to a huge payout at the end. That would be recorded as an asset on my balance sheet. Same with a house I live in. Capital gains at the back end may be the reason for investment.

That said, a few years ago, when interest rates were 18%, I sold a house and put the money in the bank. The returns on the money was more than any capital appreciation or rent would have given me. At that time, cash was a better store of value. Not now though. Returns on cash is much lower than inflation. So cash in hand is while still an asset, may be a negative asset.

Forex also is a good store of value and a strong bet since we know that the economy may still need further devaluation. So saving in dollars may be a better option particularly for those with dollar expenses eg children in school etc.

Investment in gold, ( those gold earrings your wives love are an investment, even as they enjoy wearing them about) is also a sure thing

Bitcoin for those who have the appetite for risk

Etc etc.

Decisions on the most optimal vehicle depend on the time and circumstances. The right choice in 2015 may not be the right choice in 2018.

But that is why hedging and diversification comes in. Dont put all your eggs in one basket.

Ibk2020:
pls can someone recommend best type of wire brand?
someone recommend that I use Nigeria product throughout, but didn't mention the brand name

Nigerian wires are one of the best in the world.. That am sure .

As for brand Recommendations. Would direct that to the pros in that field.

Cc
@Topsy23
@Twinskenny

diordaves:


I've gone to read back my take, I no see where I tell you say I be pastor or na me be the only economist or business administrator. I no tell you that one. Who dey manipulate debate now?

You said if I "deeply understand" and do "research" I will understand what investment means. Abi no be so you tell me? So in reaction to that, I now respond to say I should know because I am trained in the field. I no tell you say I be pastor.


Now you and this google research sef. Well I don hear, so I have "googled" to wikipedia and below in italics is wikipedia take on INVESTMENT:

Investment
To invest is to allocate money with the expectation of a positive benefit/return in the future. In other words, to invest means owning an asset or an item with the goal of generating income from the investment or the appreciation of your investment which is an increase in the value of the asset over a period of time.
Wikipedia

From the above definition, an investment is allocate money with the expectation of a positive benefit/return in the future or the appreciation of the ASSET over a period of time.
It is not only pecuniary.

Now look at the above definition/conceptualization and ask yourself: Does my personal house (forever home) fall into the above definition. If no, then your house is not an investment. Na liability. In other words, na white elephant project. Since you know say no be investment, why you build am? With this question, I can now argue that you build your house because you lack financial sense. All Nigerians up and down the country that are fighting tooth and nail to put a roof over their heads no get sense, because those houses no be investment. The maintenance too much. In fact the maintenance is so great that it will ruin and kill them. F o olish Nigerians.

My friend, investment in a property is not only allocation of money to yield money, it also includes to yield benefits like a roof over your head, your pension pot, your retirement years when you are old and gray, the security of your family from the vagaries of nature, and indeed to internalize the benefit of rent payment and for the asset to grow over time.

If you send your kids (for example) abroad to access quality education and result in paying school fees through your nose; is that an investment? To you, that is not an investment as you will not sell your kids in the future (hopefully) and you are not collecting rent money from them. But to me, that is an investment in my kids' future. However, the way things are going, I'm not sure if I will not sell them in the future. Dangote cement don hit 4k. My eye dey red now for money.

At this stage, I go do like you: I rest my case.

I used the pastor analogy as an example.

I believe you know why we have hundreds of definitions for alot of things in Economics /commerce. If not, then the discussion so far should be an evidence.

Sir I have heard you, make we no turn this thread to finance/economic/business thread lol.

Good morning.

I have a question please.

If someone wants to do a serious build, not kobo kobo build, but like a turn key, how do you invite bidders to bid? Where do you advertise for bidders? Or you will approach Julius Berger and ask them to quote and then approach other people one by one? Then how are you sure you got the best architect, or builder if it is limited to those you know?

Then will one company design and build or you have to get design separate from build?

doyen1:
I have a question please.

If someone wants to do a serious build, not kobo kobo build, but like a turn key, how do you invite bidders to bid? Where do you advertise for bidders? Or you will approach Julius Berger and ask them to quote and then approach other people one by one? Then how are you sure you got the best architect, or builder if it is limited to those you know?

Then will one company design and build or you have to get design separate from build?

An astute question.

doyen1:
A house is an investment. And an asset. It may not be the most profitable investment particularly if it is owner occupied and in some instances, with more profitable options, makes sense to actually rent rather than own.
But it is an investment. Not all investments give returns immediately. If I bought a plot of land and just left it for 20 years, it would have earned me nothing in 20 years but I may be looking forward to a huge payout at the end. That would be recorded as an asset on my balance sheet. Same with a house I live in. Capital gains at the back end may be the reason for investment.

That said, a few years ago, when interest rates were 18%, I sold a house and put the money in the bank. The returns on the money was more than any capital appreciation or rent would have given me. At that time, cash was a better store of value. Not now though. Returns on cash is much lower than inflation. So cash in hand is while still an asset, may be a negative asset.

Forex also is a good store of value and a strong bet since we know that the economy may still need further devaluation. So saving in dollars may be a better option particularly for those with dollar expenses eg children in school etc.

Investment in gold, ( those gold earrings your wives love are an investment, even as they enjoy wearing them about) is also a sure thing

Bitcoin for those who have the appetite for risk

Etc etc.

Decisions on the most optimal vehicle depend on the time and circumstances. The right choice in 2015 may not be the right choice in 2018.

But that is why hedging and diversification comes in. Dont put all your eggs in one basket.

I really would not think a house bought solely to live in is an investment, at best it only has a potential of being an investment. However I would agree that it's a asset of some sort, because it falls into the asset part of a balance sheet, can be liquidated to make money or could be used to assess loan.

A house you live in can then become an investment if you lease out a room in it and make some profit off it, or if you have a boys quarter that you rent or lease out.

The biggest confusion would be from the book rich dad poor dad. R.Kiyosaki defined an asset as something that puts money in your pocket, and a liability as something that takes money out of your pocket, which would not be the traditional definition but what his "rich dad" defined. However it's a good way to look at financial intelligence

hamtabfawaz:

Nigerian wires are one of the best in the world.. That am sure .
As for brand Recommendations. Would direct that to the pros in that field.
Cc @Topsy23 @Twinskenny

u are correct Nigerian wire is the best

Ibk2020:
pls can someone recommend best type of wire brand?
someone recommend that I use Nigeria product throughout, but didn't mention the brand name

We have Coleman, nigerchin and kabelmetal

A house is good o. Please don’t use what I’m saying against me o.

To say the fact, a house is not an investment. The smartest investors who live in condos, MDUs, suites understand the gains of shared facilities.

somehow:


Okay sir, please teach me.

I don't have the strength to go back and forth. I will leave the floor to you. Those who got my points already did sir.

You can have the floor, I will take notes

Since you don't have the strength... It's fine

I thank u

cc brabusng

cc buildingproject

thank u focusmind

thank u all

hamtabfawaz:


Nigerian wires are one of the best in the world.. That am sure .

As for brand Recommendations. Would direct that to the pros in that field.

Cc
@Topsy23
@Twinskenny

Thanks

somehow:


And you spend what in buying the rising goods and services?

Seems you're bored tonight and looking for who to drag on a back and forth.

I no get the power, I am worn out in Next's voice

I am never bored... I just had a few moments to engage you cos you got my attention with your hasty generalization.

You have not answered any of my previous question, so I'll take it that you don't want to have an intelligent conversation

somehow:


A car is an asset irrespective of what you're using it for. The car (asset) now becomes an investment if you start using it to make money directly either by putting it on a lease, rental, HP or as a taxi. (This is rather very easy to understand)

Sir, I think at this point, alot of us are just trying to win an argument by making a simple issue complex.

Note : A car you bought on credit is neither an asset nor investment, it's straight down debt.

I completely Agree with the Bolded "Statement"

Guess we can say the same about a House.

What is the difference between a Gazzette and approved Excision?

I am yet to get round these 2.

hamtabfawaz:



I completely Agree with the Bolded "Statement"

Guess we can say the same about a House.

Straight! Same goes to a house. What you use it for is what differentiates it between being an asset alone or both asset and investment.

somehow:


Straight! Same goes to a house. What you use it for is what differentiates it between being an asset alone or both and asset and investment.

Finally!

Building a house is an investment which ever way you see it.
Most people are of the opinion that once you are not making money from it, it's not an investment.

Would you rather continue paying rent than owning your own house?
Would you rather continue using Uber than owning your own car?

On the short run it seems like it's cool, but in a long run you would find out which is better.

Investments also covers whatever saves you time and money.

They say our children are investments, I then wonder what you would say since they don't give us money.

Apologies for derailing

sgtponzihater1:


I really would not think a house bought solely to live in is an investment, at best it only has a potential of being an investment. However I would agree that it's a asset of some sort, because it falls into the asset part of a balance sheet, can be liquidated to make money or could be used to assess loan.

A house you live in can them become an investment if you lease out a room in it and make some profit off it, or if you have a boys quarter that you rent or lease out.

The biggest confusion would be from the book rich dad poor dad. R.Kiyosaki defined an asset as sometime puts money in your pocket, and a liability as something that takes money away from your pocket, which would not be the traditional definition but what his "rich dad" defined. However it's a good way to look at financial intelligence

My houses in the USA puts money in my pocket once a year at tax time. Well, before Trump

pussiboner:
Building a house is an investment which ever way you see it.
Most people are of the opinion that once you are not making money from it, it's not an investment.

Would you rather continue paying rent than owning your own house?
Would you rather continue using Uber than owning your own car?

On the short run it seems like it's cool, but in a long run you would find out which is better.

Investments also covers whatever saves you time and money.

They say our children are investments, I then wonder what you would say since they don't give us money.

Apologies for derailing

If it’s about time and money, adopting a 12 year old is cheaper than raising a baby.

You just find yourself with a grown-child without paying the price.


A shelter over a man’s head is a thing of pride and not actually an investment.

You spend more to maintain that shelter than when you live in a shared apartment.

n3xt:



_______

Lest I forget, please note building terraces is cheaper than detached houses but its ROI is higher and the occupancy rate is

Please share pictures for learning Purpose..√

hamtabfawaz:


Please share pictures for learning Purpose..√

Terraces are like big man's face me I face you.

Apartment blocks are like average man's face me I face you.

somehow:


Terraces are like big man's face me I face you.

Apartment blocks are like average man's face me I face you.

Wicked people everywhere

biodun966:
please if you have any good plan of 3 bedroom flat that can fit into this half plot of land. please contact me via my WhatsApp on 08157666358

If you have not gotten one, you can whatsapp me. My number is in my signature.

n3xt:


I can relate.

A man sold his house for N150m in 2014. Gave about N24m to his wife. Bought exotic cars. Bought 800sqm land to build 2 detached duplex with a plan to live in one and to sell the other.

The wife secretly engaged me to build a 3 unit terrace building at the same time.

Within 5 months, the man ran out of funds and we completed the wife’s terrace flats. Within 7 years, the wife has made over 60 million naira from her investment while the husband’s project is still in abandoned state.

He cannot finish it neither can he sell because that means he won’t have a house to his name again.

While living in a rented house in Chevron, Lagos the wife was making money from her investment a few kilometer away while the husband is hoping to compete a superfluous house he can move into maybe one day.

While inflation hit hard, the wife is making more profit while the husband is being weighed down by the increasing cost-to-own a house.

If both of them decide to sell tomorrow, the wife will be making more money than the husband.



A house is not an investment if you’re not planning to sell or rent out.


_______

Lest I forget, please note building terraces is cheaper than detached houses but its ROI is higher and the occupancy rate is

Smart Wise Woman

hamtabfawaz:



Smart Wise Woman

Yes. Living in a rented apartment while she’s getting over N10m per annum on her 3 unit Terrace Duplexes.

XL6 Trillion | Atrium House by NextHome

>>> A leakproof flat roof is possible.

#designthatwork

n3xt:


Wicked people everywhere

Abi nobi so?

n3xt:


Yes. Living in a rented apartment while she’s getting over N10m per annum on her 3 unit Terrace Duplexes.

I guess the husband is still paying the rent where the woman stays while hoping to complete the building both of them will end up moving to?

somehow:


I guess the husband is still paying the rent where the woman stays while hoping to complete the building both of them will end up moving to?

Exactly! She was even borrowing her husband monies to pay the rent and to move his project forward with interest

I didn’t suspect a thing until she later told me when we were almost at finishing stage.


#smartinvestors