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Nairaland Forum / Nairaland / General / Properties / General Topic Thread-To Discuss Anything And Everything in Building Construction (4685804 Views)
Discuss Anything Property And Lets Make Money In The Process / Residential Building Construction Mistakes In Nigeria You Need To Avoid / General Topic Thread - The Roforofo Thread Of Construction Activities (2) (3) (4)
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Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by rotecch77(m): 8:39am On Nov 14, 2021 |
sonnie10: Yes, peace of mind is paramount. 3 weeks ago I gave someone work( personal work) of 70k I paid him 30k initial payment bcs I know him very well. Day1 -day 5 the guy cover only 2pec of the job 10day along the line the guy cover JUST 5pec of the work , the work he supposed to finished within 4-5days oo. The guy will show up to 10min work and leave ones he sees that we are not around ( off to work) After 10days I see that the guy is not ready to do the work even if I give him 100 days. I just called him to forget the whole thing and I engaged another guy immediately , young guy to do the job, boom the guy Finished it up within 3days at lesser price. To refund part of the money become sky rocket scientist to him. I don’t even stress myself I just overlook it. 1 Like |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by michlins(m): 8:56am On Nov 14, 2021 |
Dirkcoyt:those dealers usually pay manufacturers to produce in bulk for them and that's how it's done. No one takes the effects of the inflation because they order bulk goods and sell making profits on my funds. 1 Like |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by n3xt(m): 9:57am On Nov 14, 2021 |
sonnie10: My mental health matters a lot to me. That’s why I’m working hard to save from things I can control instead of having unnecessary stress on things I have no control over. _______ On the flipside, I paid a guy some thousand of dollars some years back to get me a Toyota Venza. I didn’t see the car nor my money. One day, I decided to put a call through to the guy and told him “Bro, I’m not dragging anything with you on this issue. Please just feel free with me and let’s find amicable way to manage this issue.” I don’t want someone to start looking for me with gun just because he felt I’m pestering him because of my money. My life is more valuable than a Toyota Venza ![]() The mistake has been made and I’ve learnt my lesson. There are stores where they do pay and pickup and I chose not to buy from them. ________ In January, I made an arrangement with a delivery guy to assist a client to purchase 10 bags of cement. Till date the guy has not delivered the cement or refund my money ![]() ![]() It’s either LASTMA has arrested him; VIO block road; tire removed; his mummy is sick or he’s in traffic. I just moved on and made a refund to the client. Lessons learnt. Na help o I help o! ![]() ________ #ThisisLagos 1 Like |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by rmx: 10:00am On Nov 14, 2021 |
spyder880: I constantly do this, there are reputable business people that have integrity and are reliable, look for them , don’t have such issues so far in construction early this year bought about 120 tonnes of tmt tiger iron rods , included was 50 tonnes for a project I dint start till about 4/5 months later , not even purchased the land for construction then , no stories , been buying iron rods from him for more than 10 years, price difference was close to 60k par tonne at supply Recently my cement supplier told me 3/4 weeks ago cement was going to go up from factory by 300 , said I should pay in advance to lock in prices, normally supplies on credit , I did at 3520 , just supplied this week . 1800 bags Paid for cdk tiles 2 months ago at the advice of the sales rep , price went up 2 weeks after , they were disturbing me since to come and pick it up , space was not ready ![]() If you cannot hedge by buying ahead , how do u save on projects then ? Look for the right peeps @brabus , all must get sense I have experienced it however in other lines of business , there are some Chinese coys we buy corrugation paper from , paid well ahead as my manner is to ensure continuous supply to the factory , as there were scarcity locally and internationally, and prices were rising , they refused to supply after giving half of the order , compromise was a price in between what I paid and the new price which was a 100% increase 4 Likes
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Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by n3xt(m): 10:03am On Nov 14, 2021 |
rmx: ![]() ![]() Yours is on different scale. I’m sure you forgot the volume of cement you do in a year is more than consumption of some town in a year. They’ll fight hard to have you na ![]() |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by michlins(m): 10:10am On Nov 14, 2021 |
Good morning and may we be able to afford the beautiful things we want. Compare and contrast https://www.nairaland.com/6845828/lets-build-beautiful-gate
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Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by rmx: 10:16am On Nov 14, 2021 |
Dirkcoyt: Once you pay in advance and the cement distributor pays in advance with your funds before any price change occurs from the manufacturer , there is no reason they should not supply you at that old price , they get commission also , remember The issue comes when they have to store it for you for sometime , warehousing comes with a cost, that’s where relationship comes in and also if they value the volume of business you do With them regularly. Most people with such issues will be people that buy once a while and small quantities I reckon , I think spyder also alluded to that 2 Likes 1 Share |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by rmx: 10:21am On Nov 14, 2021 |
n3xt: It’s all about saving cost for me , am so wired that way . Profit /cost saving starts by buying right is my mantra , not by using less ![]() 2 Likes |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by n3xt(m): 10:25am On Nov 14, 2021 |
rmx: You’re doing great! Bode is blessed to have you ![]() ![]() |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by n3xt(m): 10:40am On Nov 14, 2021 |
rmx: Why don’t you buy this from Emeka shop or Mr Giwa in Orile? ![]() ![]() That’s exactly my point. How many people here are going to do 3 trucks of tiles? _______ Some people will read this and go ahead to make downpayments with shady and unscrupulous businessmen. 1 Like |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by spyder880(m): 10:44am On Nov 14, 2021 |
rmx: You're right Sir, its like a football game where the team depends on the passing game to advance against their opponents (inflation) the objective is to score (profits). As soon as a client pays, the money shouldn't last long in the contractor or builder's account, you pass to the dealer, who loops the ball into the 18 yards box only for the incoming manufacturer to execute a scissors kick and there's a goal. ![]() Problems arise when people hold on to money for too long, with big dealers, storage is never a problem because they have extra stores and warehouses all around different parts of the market and even beyond. Their goods keep coming in and stored for the owners to come for them. Warehousing comes with a cost, but some of these dealers owns their warehouses which they lock till they need to move goods from there. Then again, we are forgetting one of the most vital economic issues, the cost of funds. Every business person knows how difficult it is to obtain interest free deposits from their customers, only the most trustworthy of businesses enjoy this benefit. Cost of capital is saved for any dealer whom the customers trust enough to deposit huge sums to, they will not have any need to borrow from banks on high interest. These funds can even be deployed to other uses like importing more goods, asset acquisition or new property purchases. I dont see any reason they shouldn't be happy we are trusting them with our money for a period of 3 months to 1 year. Imagine the turnover and the expected profits over such a long period of time. But like I will always say, select strong businesses where you are sure they won't disappear tomorrow. There are people I can beat my chest and say they are more trustworthy than banks. Even without an agreement, they can do honest businesses with you and never cheat you. I have had to deposit large sums to people, and maybe call them a day later to remind them to prepare an invoice, and that I wont pick up till I start the new project. Also, these dealers trust me, I can call and say, move 200 bags of cement to so and so places, without paying a dime, they will move the cement and send me their account details and total cost later, sometimes a week later. There was a dealer I quarrelled with because he didn't send me his cost for over a week, I nearly even forgot about the supply. It's all about integrity, business thrives and is much easier if there is integrity. 6 Likes |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by rmx: 10:50am On Nov 14, 2021 |
n3xt: Due diligence is required all the time Could have gone ahead to do a transaction with a major importer of Spanish tiles, we discussed a proposal where I was to pay 50% advance , and the tiles will be imported at a good discount to what he sells , would have had no issues going that route , just felt I had a better deal at cdk . With both, objective is always to save money while getting best of quality , that’s the only way i know 1 Like |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by Itsrm(m): 10:59am On Nov 14, 2021 |
n3xt: Where are we going in this country? After this post, I thought he was a builder, clicked on his username to feed my eyes on his projects and guess what I saw https://www.nairaland.com/329224/2008-white-toyota-camry-unbelievable That was a tokunbo vehicle being offered at 3.6m one year after production in 2008. Today, the vehicle is now 15-16 years post production. Guess how much the same tokunbo is being sold? Here sir https://www.nairaland.com/6794680/2-units-2007-model-toyota |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by rmx: 11:00am On Nov 14, 2021 |
spyder880: Very well said . The kind of advantage Integrity , trust , reliability gives in business cannot be quantified. Many are just too short term in there thinking. 2 Likes |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by Dirkcoyt: 11:28am On Nov 14, 2021 |
michlins: The thing is people do it with not just dealers they do it with the retailers too. How do the retailers they do it with offset the inflation gap? 1 Like |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by rmx: 11:32am On Nov 14, 2021 |
Itsrm: ![]() ![]() ![]() We bought that vehicle early 2009 . I think close to 20k $ . Guess what the exchange rate was then |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by bukolo: 11:41am On Nov 14, 2021 |
Good afternoon and Happy Sunday. Please is flow switch good for overhead tank on a building? If not, any suggestion? Thank you. cc topsy n3xt kopell: |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by n3xt(m): 11:42am On Nov 14, 2021 |
Itsrm: There’s nothing wrong with us in this country. It’s only racketeering and profiteering that has ensnared us. To think I bought same car in 2014 (6 years after production) at N1.850 ![]() ![]() |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by somehow: 11:45am On Nov 14, 2021 |
The price you pay for giving some people the benefit of the doubt. Also spent money correcting the low-quality and badly erected steel used for the roof. I am just trying to be calm for now..... I give grace to people until I have none left for them, then I respond. EgunMogaji2: 3 Likes |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by somehow: 11:46am On Nov 14, 2021 |
Olusojisorunmu:Okay sir. I will consider when it's time. 3 Likes 1 Share |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by n3xt(m): 11:58am On Nov 14, 2021 |
bukolo: Yes it is good. Based on your water level, it will open or close the electrical circuit generally used to pump water. |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by Itsrm(m): 12:37pm On Nov 14, 2021 |
n3xt: All around the world, vehicles are classified as liabilities. Here they are assets 3 Likes |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by bukolo: 12:37pm On Nov 14, 2021 |
Thanks for your response. One more thing,what about the longetivity of the pumping machine? n3xt: |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by n3xt(m): 12:48pm On Nov 14, 2021 |
Itsrm: Cars are asset to wannabes and freshers ![]() |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by n3xt(m): 12:49pm On Nov 14, 2021 |
bukolo: I didn’t get your question here. |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by twinskenny(m): 12:56pm On Nov 14, 2021 |
Some couple of smart ac /water switch left You can reach out…. 1 Like 1 Share
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Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by n3xt(m): 12:56pm On Nov 14, 2021 |
n3xt: ... ... |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by michlins(m): 1:22pm On Nov 14, 2021 |
Dirkcoyt:business is an understanding between two people. If you find someone who you understand, you do it with him or her. If not, wait until you can pay and pick up |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by twinskenny(m): 1:27pm On Nov 14, 2021 |
1 Like |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by EgunMogaji2: 2:04pm On Nov 14, 2021 |
twinskenny: Guilty as charged ![]() All you people storming Ibadan without wetting the ground, there’s God o. 3 Likes
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Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by EgunMogaji2: 2:07pm On Nov 14, 2021 |
twinskenny: I’ll take one to test with my system if affordable. You know I’m a retiree living on pension and dollar is not smiling anymore - lol. |
Re: General Topic Thread-To Discuss Anything And Everything in Building Construction by EgunMogaji2: 2:12pm On Nov 14, 2021 |
Itsrm: It actually depends. Are we talking about a Ferrari F40 or a Trabant? 2 Likes |
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