Gabrielclint:


Nice one sir

You wount just go and buy a land anywhere. There are places that the government has mapped out for development. In Nigeria we development is usually Transit Oriented development (Tod). If one knows a place the government is trying to build roads, its always best to invest there.. The appreciation value of such places grows geometrically. Not just roads, but maybe other developments like housing estates and others..

Barrytone:
Who is a RICH man?
Who is a POOR man?

Thanks.

emmanuelewumi:



Cash flow from the investment is very important. When Fashola was the governor of Lagos State, he revoked the certificate of occupancy of some real estate Investors at Magodo, Omole and other government estates because they didn't develop their property.

It is very important to take physical possession of your real estate investment by developing them and getting cash flow from the Investments.

I have lost money buying 5 plots of land speculating on the property, rather than buying one or two plots and use the extra to develop the property.

It is unfortunate we have very few real estate investors in Lagos, most are real estate speculators

ojesymsym:
One definition: A rich man is a man who is contented with what he has and owns.
Another definition: A rich man is a man of means who can afford the good things of life. Another definition: A rich man is a man who is healthy.
Which of the definition you like?

Barrytone:
Who is a RICH man?
Who is a POOR man?

Thanks.

Barrytone:


1. Dangote is not rich
2. Abba kyari wasn't rich
3. All our politicians sick of convid 19 are not rich.

Why on earth should I die in the course of being rich

Barrytone:


1. Dangote is not rich
2. Abba kyari wasn't rich
3. All our politicians sick of convid 19 are not rich.

Why on earth should I die in the course of being rich

Barrytone:

Who is a RICH man? One who doesn't Lack
Who is a POOR man? One who Lacks

Thanks.

Bonjovi13:


A man who has 95Million Naira to invest in a property would not ask this kind of question. Audio money gang

emmanuelewumi:


It is a relative. I prefer using financialy independent person.

It depends on your consumption, tastes, attitude, state of mind, relationship etc

Some people have a Networth of N100 million and feel richer than another person with a Networth of N10 billion.

A financialy independent person can afford to continue to maintain his desired standard of living for as long as he wants and lives without having to work for money again. He spends his time how he wants to spend it.

He can decide to play golf on a Monday morning, while others are battling with the rat race

He doesn't work for money again, but his money works for him and generates more than enough income that he can spend for him

Phraences:


Sigh! The best kind of life. Freedom from bulls**t.

ojesymsym:
Does this freedom exist in reality? I doubt it. What usually will happen is that people you will now be stressed with wealth preservation or begin to provide support to your offsprings. The myth does not exist in my opinion.

emmanuelewumi:




It exists, I know a middle age man who plays golf on Mondays, goes to watch his grandchildren play basketball in school, very active in his church and went on a missionary journey to East African journey for a year


Another Investment Bank resigned to pick up a lecturing job which paid him less than 20% of his Investment banking salary

The best freedom is to have freedom over how you spend your time and not working for money. Even if you are paid you can afford to say the money should be paid to a charity, because you have gone beyond working for money, but doing what you love doing

ojesymsym:
Does this freedom exist in reality? I doubt it. What usually will happen is that people you will now be stressed with wealth preservation or begin to provide support to your offsprings. The myth does not exist in my opinion.

emmanuelewumi:




It exists, I know a middle age man who plays golf on Mondays, goes to watch his grandchildren play basketball in school, very active in his church and went on a missionary journey to East African journey for a year


Another Investment Bank resigned to pick up a lecturing job which paid him less than 20% of his Investment banking salary

The best freedom is to have freedom over how you spend your time and not working for money. Even if you are paid you can afford to say the money should be paid to a charity, because you have gone beyond working for money, but doing what you love doing

Phraences:




Very correct. Wealth preservation sef is not even that difficult. And financial freedom does not mean you have to be as rich as Dangote or Bill Gates. Those are the people sef that are under the most pressure. You don't have to be rich enough to buy private jet before you can be called financially independent.

ojesymsym:
I think at least for the middle aged man, he will be sort of concerned with ensuring he is still able to achieve his life style and his mission work even if not by working.
He then has to mentor or try to guide his grandchildren. It's hard to explain Sha. It's a much better life I agree though than the rat race.

emmanuelewumi:



The key words are

You decide how you spend your time

You have stopped working for money

You can continue to maintain your life style for life without working.

You money is working for you, making more money than you need

emmanuelewumi:



Cash flow from the investment is very important. When Fashola was the governor of Lagos State, he revoked the certificate of occupancy of some real estate Investors at Magodo, Omole and other government estates because they didn't develop their property.

It is very important to take physical possession of your real estate investment by developing them and getting cash flow from the Investments.

I have lost money buying 5 plots of land speculating on the property, rather than buying one or two plots and use the extra to develop the property.

It is unfortunate we have very few real estate investors in Lagos, most are real estate speculators

odimbannamdi:


Lots of wisdom in this post, and the earlier one.

What do you mean by "develop the property", sir? Do you mean fencing the land round and starting a building project on it?

If yes, why would the government revoke the C of O of real estate investors who didn't so?? I am just curious

emmanuelewumi:



Taking physical possession by building the property.

Government can revoke the certificate of occupancy if you don't develop the land after a given time especially if the area if fastly developing, Investors with money who are willing to buy and develop the property are making enquiries from government, or the undeveloped property is constituting a nuisance or a hideout for criminals

Barrytone:

Who doesn't lack?
Who lacks?

emmanuelewumi:



Cash flow from the investment is very important. When Fashola was the governor of Lagos State, he revoked the certificate of occupancy of some real estate Investors at Magodo, Omole and other government estates because they didn't develop their property.

It is very important to take physical possession of your real estate investment by developing them and getting cash flow from the Investments.

I have lost money buying 5 plots of land speculating on the property, rather than buying one or two plots and use the extra to develop the property.

It is unfortunate we have very few real estate investors in Lagos, most are real estate speculators

Barrytone:

Who doesn't lack?
Who lacks?

Pojomojo:


Never knew such thread exist on nairaland.

My question is I have a property in Delta State where has been designated by the state government as films village, it 2 plots. How so I go about this in light of what you said about government revoking the c of o. I have the deed of assignments and the area has been mapped out.

ojesymsym:
I don't know why I have this feeling that there is more to these philosophical questions, often it is as a result of something that triggers a great emotional trauma. I hope am wrong though.

Pojomojo:


Never knew such thread exist on nairaland.

My question is I have a property in Delta State where has been designated by the state government as films village, it 2 plots. How so I go about this in light of what you said about government revoking the c of o. I have the deed of assignments and the area has been mapped out.

Barrytone:

Who doesn't lack?
Who lacks?

Rotiix:
Good morning to the elders in this thread, I am a silent reader but I have learnt so much from the wealth of experience of people in this group. The attached is the offer I got on Opay app. Is it safe to put money here? Pls guide before man pikin go mis-step.