NL1960:


Have you seen the high number of houses for sale dotting every nook and cranny of Lagos?.

Btw, where is that house located?. It is not enough to just give us how much he sold it. The location and type of house is also needed.

ahiboilandgas:
Lagos is not the only place in Nigeria other state are available

NL1960:


I know. So mention the place and the type of house. The information you gave was not complete. You also did not mention how much was used for maintenance of the house and if there were no problematic tenants as the house being in Nigeria, i doubt the tenant or all the tenants were well behaved for that period.

umulobi:


Send me a Pm

ahiboilandgas:
I don't want to convince u ,if u know ,U know .....a single tenate occupy it for 10 years ....

NL1960:


No maintenance in 10 years. No tenant wahala and tenant non payment for 10 years. No stress to collect the yearly rent for 10 years. What a lucky Landlord.

Anyway, people have different investment goals and strategies.

ahiboilandgas:
My friend built a house for 5.5 m naira in 2007 sold it for 27 million naira today having earn 5m as rent for the house over 10 year period 27+5 =33m ......if that money was in treasury bill it will be around 22.5 million hence extra 10 m was made ....this is a life experience oooh ..guys i think we should expand our portfolios even if he converted the fund to dollar 45000 dollar 10 year ago to buy dollar bond it will now be 81000 dollar at 6 percent which will be 29,0000000 million...

ahiboilandgas:
have u heard of the word cooperate tenate ,taking 5 year lease ..i have 4 tenate that have never defaulted more than 3 months to complete payments for the past 5 years ...we are talking about house not face me I also u tenate

NL1960:




You are just giving these details now after so much asking. Your original post said 'a house'. A face-me-i-face-you is a house now as people live in it. Face-me-i-face-you people normally say 'iam going to my house' and not 'iam going to my face-me-i-face-you'. .

ahiboilandgas:
am just saying have several assets

Happyfellow147:
I'm happy you brought this here. My husband about two years ago had some good sum he was looking to invest and asked my opinion. I said TB but the issue was that we didn't know where to buy. I asked around but I was told to go to cbn in my state. Thereafter, my husband bought a property with that money which up till now, hasn't given us up to 300k, rather from the small rent he will collect, he'd be spending on the same property. I want to advise him to sell so we can still do TB now that I'm aware.Or better still buy land and speculate.

4601CE:
Lol
you have interest in assets does not mean others do.
Some people don’t want their money in illiquid investments.
You may decide to sell your house today and not see buyer for months . Or years .
A woman was on this thread some months ago , I can’t dig up the post .
She explained how her husband acquired a house,refurbished it and how they have been spending additional money on the house to maintain it and all. And the rent they collect too .
She explained everything and said if her husband had known .
He would have invested his money in treasury bills.
Because from her calculations.Tbills interest rate is higher than the annual rent they collect.

Modified
Well, I did some digging and I found the post …

ahiboilandgas:
her info is incomplete,from my experience the house they bought will be around 6 million max to warrant a rent of 300 k ,but he did poor due dilengency to buying an old house as a premium,he could price down to 5 m then use 1 million to fix it up to new then collect 400 k over 10 years and sell for 15 million....making a total 19 m .Nb expected annual increase in rent will pay up for maintenance

4601CE:
Are you seriously still arguing about their own property ? Is it your house?
Are you saying that woman didn’t know what she was saying
I’m out of this conversation

ahiboilandgas:
her info is incomplete,from my experience the house they bought will be around 6 million max to warrant a rent of 300 k ,but he did poor due dilengency to buying an old house as a premium,he could price down to 5 m then use 1 million to fix it up to new then collect 400 k over 10 years and sell for 15 million....making a total 19 m .Nb expected annual increase in rent will pay up for maintenance

feelamong:
Today's auction rates are quite interesting..

Upwards swing come around again as reserves go below $46b for the first time in a long time...

Happy days are back again in treasury bills

unite4real:


If that's how you calculate such investment, it means that same house of 5 million which will be sold for 15M after 10 years will then be about 45M in another 10 years. Bros abi babe, its not that mathematical. Living in Abuja for past 18 years, i have seen houses rise and fall seriously. A house bought for 2.2M was sold for around 8M after 10 years. The new owner sold it for 7M (after buying for 8M) after 3 years of ownership. Houses usually get to their peak on the graph and the only next option is to begin a fall.

I pay rent in a house that was sold to the Landlord for 23M in the year 2013. Recently, he put the house up for sale and the highest he got was 17M (to be paid in installment sef). He said to rather not sell instead of running at a loss.

If the transport system is improved better than presently, with all high speed rail lines criss-crossing Nigeria, and roads are repaired; i can assure you that it will further crash property prices further because living in Ibadan and working in Ikeja will be more cost effective. Living in Kaduna or Lokoja or Suleja and working in Abuja will be more cost effective. The issue of considering buying properties in high yield area will gradually balance itself out in favour of development catching up with satellite towns and adjourning cities to the cake locations.

4601CE:
Minimum with most banks is 100K naira.
Go buy FG Savings Bond or
MMF

Barrytone:


Rates please

qizick:

Please what is mmf

zinaunreal:

Tbills thread is about to catch fire again

Barrytone:


Rates please

Gavrelino123:

Sir,have you been credited..?
Are you banking with GTBANK.?
I'm worried because it has already been written off in my Internet Banking with no credit notice in reciprocal..!!!
Have you been credited..?

umulobi: