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Nairaland Forum / Entertainment / Sports / European Football (EPL, UEFA, La Liga) / EPL Chatroom - All Discussions (1829223 Views)
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Re: EPL Chatroom - All Discussions by Itsrm(m): 11:46am On Mar 14 |
Sportsweb: I used to be seriously against buying cars. Then one day I went to Ahoada to work. Ahoada is on the outskirts of PHC. I finished late and it was raining(not heavy). I can't remember what exactly happened but there were very few vehicles coming from Bayelsa axis to take people to PH. We were more than 100 by the road. Even if any bus comes, the most it will have is space for one or two persons and good luck entering the bus. Eventually, one bike man came and was heading to PH. I think he charged 1000 per person and two of us offered to pay. Naturally, most people avoided him when they heard the price but I was seriously tired of standing by the roadside. Imagine the risk we took taking a bike on an express road while it's raining at night. I got home and asked myself why I was inflicting hardship on myself. It wasn't that I didn't have the money. Na so I go buy motor. 1 Like |
Re: EPL Chatroom - All Discussions by GloriousGbola: 11:50am On Mar 14 |
seankafor: It is only in lagos where price of land is confirmed to rise and at a geometric progression because of bubble, speculation and development. Go to most other states and price of land will remain static for decades. One new oga from obodo oyibo had the bright idea of selling off sites to raise money.one lag site was x10 the value of all the other sites nationwide combined The guy has been thinking all sites value matched the monetary value of the lag site |
Re: EPL Chatroom - All Discussions by GloriousGbola: 11:51am On Mar 14 |
Itsrm: Foolish guy. Do you know how much land you could have bought with that money. Land that will always appreciate ![]() ![]() ![]() ![]() *In online financial advisor voice * |
Re: EPL Chatroom - All Discussions by Theflint1(m): 11:58am On Mar 14 |
GloriousGbola:True, Lagos' land actually does appreciate at a rate lands in other parts of the country don't (probably explains the rate of land theft disguised as demolishing illegally sited structures), but while I think generally I won't advice tying up money in a property in Nigeria, in some unique cases, there may be some merit to doing so. |
Re: EPL Chatroom - All Discussions by BlueRayDick: 12:01pm On Mar 14 |
GloriousGbola: I think Ogun state(due to close proximity to Lagos) and Ibadan in Oyo state's real estate market is also growing gradually. Some of the house rent I'm seeing for Ibadan nowadays is quite surprising |
Re: EPL Chatroom - All Discussions by izzou(m): 12:10pm On Mar 14 |
BlueRayDick: Many places, actually Even in the SE, you cannot see a 5 million naira plot of land in the capital (At least, I'm sure of Anambra, Enugu and Imo). People are beginning to move their business to places outside of Lagos |
Re: EPL Chatroom - All Discussions by BlueRayDick: 12:12pm On Mar 14 |
izzou: Yeah. I think it is the north (bar Abuja) that is still considerably affordable |
Re: EPL Chatroom - All Discussions by Sportsweb: 12:15pm On Mar 14 |
![]() ![]() Itsrm: |
Re: EPL Chatroom - All Discussions by Itsrm(m): 12:16pm On Mar 14 |
Theflint1: Abeokuta no follow this your arithmetic ![]() When they tarred the road infront of our house, I told my dad that the landlords will greatly benefit since they can now increase rent. He laughed and asked me who will pay? That even the current rent, people are struggling to pay. |
Re: EPL Chatroom - All Discussions by Theflint1(m): 12:21pm On Mar 14 |
Itsrm:Rent na still minor component of the arithmetic sha, but I struggle to see how you won't make even 20m across 25 years from rent in PH and have your property increase in value by 150%. It's not a lot of money, but I'm sure if you crunch the numbers you might see even better rates from places that are not even Lagos across that 25 years. 25 years is a long time o, think of where you were 25 years ago for perspective. |
Re: EPL Chatroom - All Discussions by Theflint1(m): 12:27pm On Mar 14 |
25 years ago I know you'd still see lands in a lot of places in Benin City for less than 400K, 5m go hard you before you see today in those same places. |
Re: EPL Chatroom - All Discussions by izzou(m): 12:30pm On Mar 14 |
Theflint1: You are right. We dey look this 25 years like 25 months. Met a man that 66 acres for sale in Ogun state last year. I started to wonder how much he bought the land then ![]() Maybe na 10k per plot e buy am |
Re: EPL Chatroom - All Discussions by Theflint1(m): 12:36pm On Mar 14 |
izzou:Ah, 25 years long o, na why I say in some unique situations, it's still sound advice to buy land and build property...the Nigerian economy is an emerging economy, with lots of room for growth...maybe it might not be the very best advice given current inflation and access to invest in international markets where things are more predictable and stable, but for persons without such knowhow...buying a land and building a house in it planning for 25 years is not the worst advice there is. I no even wan imagine wetin e buy the plot that year, but e go def cheap dieeee...and strictly in naira terms, it'd probably be the best business he ever did ![]() |
Re: EPL Chatroom - All Discussions by Theflint1(m): 12:42pm On Mar 14 |
The best thing Tinubu can do is keep the Naira fairly priced (say #900 or even up to #1200), and most importantly, stable. If Nigeria can keep its currency fairly stable for like the next 10 years, things would pickup. |
Re: EPL Chatroom - All Discussions by BlueRayDick: 1:00pm On Mar 14 |
izzou: Lolz. If u look at time value of money, the man may be better off to have invested that N10k per plot into a business that would've enabled him to afford 500 acres of land today and more if he had not bought the 66 acres then and tie the money down. |
Re: EPL Chatroom - All Discussions by izzou(m): 1:06pm On Mar 14 |
BlueRayDick: The business sef fit don fold up at at today. 3 Likes |
Re: EPL Chatroom - All Discussions by BlueRayDick: 1:19pm On Mar 14 |
izzou: Yes, that's why risk is part of business; there is a chance that u make a profit or a loss. Tying ur money down to a land on the other hand does not necessarily mean u will make profit. If most people take Time Value of money into consideration they may discover the investment on land didn't actually appreciate as much as they assume it did. N5m this time last year was more valuable than N5m now. If u have N5m as at the time dollar was N400/1$ and u invested it into buying land and today u sell the land N15m now that dollar is N1500/1$ . u would think u made profit, but u won't know u lost at least $2,500 dollars in that investment when we are even yet to factor in inflation rate. I think the difference is that in business u can easily see whether u are making a gain or loss , but in the case of this land matter u won't even know u made a loss; u will be grateful u got whatever amount u are getting. |
Re: EPL Chatroom - All Discussions by izzou(m): 1:28pm On Mar 14 |
BlueRayDick: You are right, but we can only assume that the business would be profitable. Which business would you invest such, and 20 years down the line, you would be guaranteed of such returns? Most people who invest that much in land, probably have the money lying idle. Nobody that wants to eat tomorrow will go and buy land as investment If i had such capital lying idle, i may opt for a land, than invest in a business wey fit cut like Bet9ja ticket along the line. |
Re: EPL Chatroom - All Discussions by raumdeuter: 1:40pm On Mar 14 |
Itsrm: That is because your own rent is super cheap. You are paying way below market rate for rent |
Re: EPL Chatroom - All Discussions by raumdeuter: 1:48pm On Mar 14 |
GloriousGbola: Where can you buy land and build in Lagos that will make your life easy? Truth is Lagos is a unique city and you cannot use it as an accurate measure. Jobs are concentrated around one area in VI Lagos Island. No one can reasonably afford land close to those areas Is living in Ikorodu really worse than living in Ibeju when you dey go Lagos Island? Given the traffic on both axis you can spend 3hrs in traffic when you consider the other things like flooding you see that there is nowhere you can build a house and it makes financial sense in Lagos If you get money well it's either phase 1 or just go Ikeja GRA Well nothing I hate more than traffic |
Re: EPL Chatroom - All Discussions by raumdeuter: 1:50pm On Mar 14 |
Theflint1: Traveling abroad is not just flight ticket o. Abi you wan land for Heathrow and turn back? Cost of feeding and accommodation in those places nko When people abroad go for vacation hotel and expenses na the real money guzzler |
Re: EPL Chatroom - All Discussions by raumdeuter: 1:52pm On Mar 14 |
Itsrm: You are stealing a living or nacking your landlords daughter All these concessions you are getting no be normal eye at all. 10yrs unchanged rent? Say wetin happen Landlord die? Abi you don visit village for landlord matter |
Re: EPL Chatroom - All Discussions by popizaino(m): 1:56pm On Mar 14 |
BlueRayDick: ![]() ![]() ![]() ![]() ![]() |
Re: EPL Chatroom - All Discussions by raumdeuter: 1:59pm On Mar 14 |
Theflint1: 400k in 1999 and 5m today. By the time we factor inflation and time value of money. You are richer in 1999 Noawadays if you carry baddie for weekend she fit charge you 1m. I saw one short video of a Nollywood movie in the 90s wey the girl dey charge either 5 or 10k for the week |
Re: EPL Chatroom - All Discussions by raumdeuter: 2:01pm On Mar 14 |
BlueRayDick: The thing about real estate is that Chances of a total loss is minimal. This man 25yrs ago fit don invest in Société General Bank or even those bank stocks and worth zero now What business can you confidently say you will meet your capital back 10yrs from now. |
Re: EPL Chatroom - All Discussions by CrystalTiger(m): 2:08pm On Mar 14 |
So Sheila, ex-wife of Israel DMW is now reportedly engaged.. New episode of madness from Israel DMW coming soon..
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Re: EPL Chatroom - All Discussions by Theflint1(m): 2:10pm On Mar 14 |
raumdeuter:There used to be Dubai packages back the for like 350-400k o, you dey earn 200k, your 5 months salary don cough the money comot. 1 Like |
Re: EPL Chatroom - All Discussions by Ibunkun1(m): 2:16pm On Mar 14 |
izzou: The boy will have to pay for his actions with his life. Where a twist might come in is if Toranaga can't watch him die and then decides to do something about it It's surprising how a smart thinking man can have a dumb child like that ![]() |
Re: EPL Chatroom - All Discussions by Itsrm(m): 2:16pm On Mar 14 |
raumdeuter: ![]() ![]() |
Re: EPL Chatroom - All Discussions by Theflint1(m): 2:16pm On Mar 14 |
raumdeuter:Yea, the value of the money is another discourse altogether, but no be everybody Sabi or get the time for business, for persons like that, buying a land and developing is certainly not the worst advice they can get, especially if it's a property they can collect rent on as the years go by. |
Re: EPL Chatroom - All Discussions by Ballzproblemm: 2:19pm On Mar 14 |
CrystalTiger:she moved on too fast imo. make I grab popcorn wait for Israel meltdown. 3 Likes |
Re: EPL Chatroom - All Discussions by Theflint1(m): 2:19pm On Mar 14 |
CrystalTiger:Omor, gotta feel for Israel at this point... looking like man's been run street. 1 Like |
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