Funny enough in Lagos u can complete the house with advance rent from perspective tenants paying 2 years rents plus agreement total 8m and u can get a lease from a firm for 5 years

Nigsrdumb:


Thanks a million, last question, to buy or to build, which is cheaper?

it depends ...buying is awalys more expensive cos of speculation but u might be lucky the seller might be desperate or it a inherited...so as a smart investor study the seller first and pin point the weakness

Buying from those morgate firm is very expensive they add their salaries ,cost of marketing ,cost of capital to get final price ...but inherited is like the kids won a lottery...but I u have time and money ...best to build (quality) ....if u have money and no time (buy ) cos the supervisor go build house on top your head

ahiboilandgas:
it depends ...buying is awalys more expensive cos of speculation but u might be lucky the seller might be desperate or it a inherited...so as a smart investor study the seller first and pin point the weakness

Thank you sir , you remain an inspiration.

T-Bills Yields Fall to 13.23% After 0.06% Loss Friday
https://businesspost.ng/2019/09/28/t-bills-yields-fall-to-13-23-after-0-06-loss-friday/

ogunsexy:
For a very long long time I have seen people struggle with calculating returns on T-bill investment. In order to help others do easy calculation regarding T-bill investment , I have decided to make on of my personal tools free for everybody to use.
Please note that the only editable part of the spreadsheet are the variables on the right. I hope you find this useful. If you have any problem using the spreadsheet, I am always here on this forum.

The name of the file is TBillscalculation.xlsx

Fellow investors, be mindful of this calculator for now. My phone is warning me and I wish I have a duty to alert the house but we are all free to exercise our freedom. This good Samaritan should check it again as it is entangled. Detach the hindrance for easy flow, thanks

odimbannamdi:


Thanks for the response bro. I use GTBank. Do you think they offer the best service in this aspect?

I think GTB will accept a minimum of 500k for treasury bills investment

Drd

ahiboilandgas:
Example Lagos has more demand cos of commercial nature ,small land and huge population ...abuja has better infastructure and some crazy rich tenants

. No more free money.

A lot of vacant houses in the high end of the property market

D

ahiboilandgas:
Example if u purchase 100 by 50 in surulere (old long bungalow) for 20 m next the demolish and build 4 apartment of 3 bedroom 8m x 4 flats ( 32m ) total cost 52 to 55m ....rent out for 800k each that 3.2 m ..

Can you get an old house of 20 million in surul

ahiboilandgas:
Funny enough in Lagos u can complete the house with advance rent from perspective tenants paying 2 years rents plus agreement total 8m and u can get a lease from a firm for 5 years

true that, this works as well.

Lease option is best, as you can recoup bulk cash asap

emmanuelewumi:
D



Can you get an old house of 20 million in surul

From the property websites searched, Yes but mostly old bungalows like he described.

emmanuelewumi:
D



Can you get an old house of 20 million in surul

Very possible but be ready to demolish and build your taste

ogunsexy:
For a very long long time I have seen people struggle with calculating returns on T-bill investment. In order to help others do easy calculation regarding T-bill investment , I have decided to make on of my personal tools free for everybody to use.
Please note that the only editable part of the spreadsheet are the variables on the right. I hope you find this useful. If you have any problem using the spreadsheet, I am always here on this forum.

The name of the file is TBillscalculation.xlsx

This ur spreadsheet Charges up to #4k plus? For just 6M??

emmanuelewumi:
D



Can you get an old house of 20 million in surul

yes my friend bought one for 22m , property price is final when buyer and seller reach and agreed point

Barrytone:


Fellow investors, be mindful of this calculator for now. My phone is warning me and I wish I have a duty to alert the house but we are all free to exercise our freedom. This good Samaritan should check it again as it is entangled. Detach the hindrance for easy flow, thanks

what exactly should people be "worried" about? what is the problem with the spreadsheet exactly?

Like I wrote earlier, only the variables on the left of the sheet are editable. For the tenor variable,just enter the days in number only. You don't need to add days to it.

igbizen:
This ur spreadsheet Charges up to #4k plus? For just 6M??

That's it. If you have any problem with the sheet please be specific

Nigsrdumb:
I'm extremely sorry for derailing the thread, but the only sign of intelligence I can see on this site is in this thread.

My question is , is it better to buy or build a house in Nigeria, which location is better between Lagos, Abuja or Ibadan? I have no interest in other places.


Thanks

Ibadan is cool and calm!

ogunsexy:


what exactly should people be "worried" about? what is the problem with the spreadsheet exactly?

Like I wrote earlier, only the variables on the left of the sheet are editable. For the tenor variable,just enter the days in number only. You don't need to add days to it.

Thank you

igbizen:

This ur spreadsheet Charges up to #4k plus? For just 6M??

Go to ur app store...download deposit calculator and do ur maths yourself.

All this spread sheet is just a waste of time for those without a system.
Conversely,if u guys want a loan calculator,u will equally get it. They are all easy to use.

You do not need a computer to work with a spreadsheet in this day and age.

Moreover, this sheet has been my go to tool for years now and it is appropriate for investing in Nigerian Tbills. I am not trying to sell anybody anything, I am only trying to help.

I'm starting my tbills investment journey this week.
Any advice guys?

Planning to invest 2m this week.

chukzyfcbb:

true that, this works as well.

Lease option is best, as you can recoup bulk cash asap

How does the leasing thing work?

Please enlighten me

CC: ahiboilandgas

ahiboilandgas:
Example if u purchase 100 by 50 in surulere (old long bungalow) for 20 m next the demolish and build 4 apartment of 3 bedroom 8m x 4 flats ( 32m ) total cost 52 to 55m ....rent out for 800k each that 3.2 m ..

Going by your calculation, it will then take at least 17 years for the house owner to recoup his 55m investment under "ideal" circumstances.

By ideal circumstances, i mean:

- you rent it out at exactly 800k per annum
- It gets rented immediately you finish building
- there are no landlord-tenant squabbles
- there are little to no repairs done within this period.
- Government does not hike land-use charges or come with useless land-related charges

Unfortunately, this world is not ideal.

Personally, i do not fancy house rental as an investment. The period to recoup my investment will be too long. I doubt i will see 200% returns in my lifetime. I would prefer to build event centres and make my 50k every Saturday.

odimbannamdi:


Going by your calculation, it will then take at least 17 years for the house owner to recoup his 55m investment under "ideal" circumstances.

By ideal circumstances, i mean:

- you rent it out at exactly 800k per annum
- It gets rented immediately you finish building
- there are no landlord-tenant squabbles
- there are little to no repairs done within this period.
- Government does not hike land-use charges or come with useless land-related charges

Unfortunately, this world is not ideal.

Personally, i do not fancy house rental as an investment. The period to recoup my investment will be too long. I doubt i will see 200% returns in my lifetime. I would prefer to build event centres and make my 50k every Saturday.

event centre is better that na enterprise if client are garuatee ....but 50 k na gross income ...when u input salaries ,deseal , security,depreciation ,insurance , etc u go know the real profit...might be lower

odimbannamdi:


Going by your calculation, it will then take at least 17 years for the house owner to recoup his 55m investment under "ideal" circumstances.

By ideal circumstances, i mean:

- you rent it out at exactly 800k per annum
- It gets rented immediately you finish building
- there are no landlord-tenant squabbles
- there are little to no repairs done within this period.
- Government does not hike land-use charges or come with useless land-related charges

Unfortunately, this world is not ideal.

Personally, i do not fancy house rental as an investment. The period to recoup my investment will be too long. I doubt i will see 200% returns in my lifetime. I would prefer to build event centres and make my 50k every Saturday.

at 17 years span rent will be reviewed na , caution fee will be paid , the most important is the appreciation of property price...example at 17 year u might sell the property for 100 m plus 55 million earn in rents that total of 160m .....as a bussiness man u don't hold property perpetually...u strike when it right

ahiboilandgas:
at 17 years span rent will be reviewed na , caution fee will be paid , the most important is the appreciation of property price...example at 17 year u might sell the property for 100 m plus 55 million earn in rents that total of 160m .....as a bussiness man u don't hold property perpetually...u strike when it right

Your commercial knowledge is vast! I hope you have some folks being mentored by you.

ahiboilandgas:
at 17 years span rent will be reviewed na , caution fee will be paid , the most important is the appreciation of property price...example at 17 year u might sell the property for 100 m plus 55 million earn in rents that total of 160m .....as a bussiness man u don't hold property perpetually...u strike when it right

Even with rent review and other sundry charges, it will still be difficult to recoup the investment even in 17years. Not many people will be able to consistently afford the 800k every year. Infact, these days, with the rate of economic decline and harsh policies, it will be a miracle if a tenant consistently pays rent for 5 years without defaulting.

However, you are spot-on about the property appreciation. Thats the major catch/reason people invests in landed properties.

I admire your contributions, all the same. They are always seasoned with knowledge and experience.

Your concerns are very valid i must admit..House rental isnt really a good investment in nigeria, too many uncertainties and default of agreement by tenants..But it is very lucrative oversea.Peole who invest in rental units oversea make good money.

odimbannamdi:


Going by your calculation, it will then take at least 17 years for the house owner to recoup his 55m investment under "ideal" circumstances.

By ideal circumstances, i mean:

- you rent it out at exactly 800k per annum
- It gets rented immediately you finish building
- there are no landlord-tenant squabbles
- there are little to no repairs done within this period.
- Government does not hike land-use charges or come with useless land-related charges

Unfortunately, this world is not ideal.

Personally, i do not fancy house rental as an investment. The period to recoup my investment will be too long. I doubt i will see 200% returns in my lifetime. I would prefer to build event centres and make my 50k every Saturday.

zohan101:
Your concerns are very valid i must admit..House rental isnt really a good investment in nigeria, too many uncertainties and default of agreement by tenants..But it is very lucrative oversea.Peole who invest in rental units oversea make good money.

Thats why Kiyosaki’s advice on investing in real estate by borrowing money from bank make more sense abroad. In nigeria..... with the rate at which govt policies change per second,,,, be very careful.

odimbannamdi:


Even with rent review and other sundry charges, it will still be difficult to recoup the investment even in 17years. Not many people will be able to consistently afford the 800k every year. Infact, these days, with the rate of economic decline and harsh policies, it will be a miracle if a tenant consistently pays rent for 5 years without defaulting.

However, you are spot-on about the property appreciation. Thats the major catch/reason people invests in landed properties.

I admire your contributions, all the same. They are always seasoned with knowledge and experience.

in place like Lagos ,u get quality tenants band 7 British council worker earn 9m annually they can pay that ,u interview all tenate ,know there place of work and the ability for pay....i stay in a 650k house for 13 years without default my landlord dey UK.. .he now my friend

Another example ( real life ) My Neigbour bought a land for 800 k and built a duplex 10 years ago in a developing area (c.o) total was 5 million naira ...he didn't renovate for 10 years by 2018 he sold the house for 29m ....so if I add the oppurnity cost of the 500k rents he was suppose to pay for 10 years will also be 5m...so his total profit is 29m + 5m + 2m ( increase rent ) total 37 m ....i put the 2m cos the rent of duplex in the area is now 1.3m ....so this 5m generated 37m over 10 years net profit is 32 m

Guys I love this conversation. But I think almost the Same rules apply almost everywhere. Now if one buys a house in Lagos ikeja or ikoyi, the value shoots up at a higher rate and rent increases, but If u go and buy a house in illorin ofcourse do not expect quick returns.. same rule applies to abroad for instance in Canada houses in Toronto shoots up astronomically compared to Calgary or manitoba..the secret is in studying the area and the trend. Is important. How much does rent go for. The only sweet thing is of course u have access to loans.