Wiseoldman:


Fola Adeola's Lotus capital has an online form for this Sukuk that seems to be very easy.

Hajara Adeola's Lotus Capital, you mean?

unite4real:


Why paper redemption. U would have been doing online on daily basis to accumulate the amount since last week

Daily online redemption from last week Thursday would still not achieve the target amount and will also be impacted by the holidays. The best option was the paper redemption. We will see.

Ghost01:


Hajara Adeola's Lotus Capital, you mean?

Lol...it is a family business and Hajara is the MD and Fola is the Chairman.

Reine22:


How much lower can property prices actually go? Considering a lot of the properties in Lagos at least are bought with ‘stolen’ funds. Not that many people are in a hurry to sell. It’s partly why Lekki house prices/rent keep increasing even as half of them are vacant. Do market forces have that much of an impact?

Only time will tell

More deals and Bargains will definitely be available later in the year , make we dey watch . Many people investing in properties also invest with clean funds .For even the people stealing there will be less funds to steal this year

rmx:


Only time will tell

More deals and Bargains will definitely be available later in the year , make we dey watch . Many people investing in properties also invest with clean funds .For even the people stealing there will be less funds to steal this year

Well,I am not a Lagosian though but in the context I was talking about,I wasn't talking about a price crash.
I just saw some new model,more affordable housing that one can key into commercially if he or she has the means.
No one in Lekki will sell their house for cheap because of pandemic
Absolutely no one!
If you want to buy houses that people are selling because of pandemic and lockdown,go to where poor people are concentrated.Okoko,makoko and the likes.
People in Lekki who own houses in Lekki can afford to stay indoors and eat and drink for two years without feeling the financial burden.
Also if it is about business and bank engagements,they don't need to sell their houses to do that.
Just write a letter to the organisation and declare a force majeure and you are good.
They will only lose reputation,not property.

Theconglomerate:
Well,I am not a Lagosian though but in the context I was talking about,I wasn't talking about a price crash.
I just saw some new model,more affordable housing that one can key into commercially if he or she has the means.
No one in Lekki will sell their house for cheap because of pandemic
Absolutely no one!
If you want to buy houses that people are selling because of pandemic and lockdown,go to where poor people are concentrated.Okoko,makoko and the likes.
People in Lekki who own houses in Lekki can afford to stay indoors and eat and drink for two years without feeling the financial burden.
Also if it is about business and bank engagements,they don't need to sell their houses to do that.
Just write a letter to the organisation and declare a force majeure and you are good.
They will only lose reputation,not property.

Nothing is impossible and anything is possible. People sell Investments for different reasons, we sell to book profit, we sell to be liquid, we sell in order to key in into other investment opportunities.
Properties are still being sold at Ikoyi and Banana Island where we have the real old money men, so properties will always be available at Lekki.

But they are not selling because of hunger ooo, because they have more than 2 investment properties

emmanuelewumi:



Nothing is impossible and anything is possible. People sell Investments for different reasons, we sell to book profit, we sell to be liquid, we sell in order to key in into other investment opportunities.
Properties are still being sold at Ikoyi and Banana Island where we have the real old money men, so properties will always be available at Lekki.

But they are not selling because of hunger ooo

I didn't say people don't sell properties in lekki.
I said they are not selling because of pandemic or hunger, so the theory of price of property crashing there due to this pandemic is false.
A person selling his property not because of desperation but some other reason is going to sell it for it's real price.
So anyone waiting for price of property to crash in Lekki because of coronavirus is on a long thing
That was my point.

Theconglomerate:
I didn't say people don't sell properties in lekki.
I said they are not selling because of pandemic or hunger, so the theory of price of property crashing there due to this pandemic is false.
A person selling his property not because of desperation but some other reason is going to sell it for it's real price.
So anyone waiting for price of property to crash in Lekki because of coronavirus is on a long thing
That was my point.

Well it is crashing, because quite a number are over priced and have been in the market for 2 years and beyond.

You wanted to sell for N60 millon in 2018, someone offered N50 million which the owner refused and the property is still in the market and has spent about 500k in the last 2 years marketing the property and another 500k maintaining and paying land use tax on the property.


Mainwhile if he had sold at N50 million in 2018 and invested his fund at a return of 10%, he would have received interest of N10 million on the fund in the last 2 years.

Banks are also on the neck of some real estate enterpreneurs to pay up the loans they got to finance the projects. The longer the houses are in the market the more the interests compound and the bank will take over the Estate

emmanuelewumi:



We it is crashing, because quite a number are over priced and have been in the market for 2 years and beyond.

You wanted to sell for N60 millon in 2018, someone offered N50 million which the owner refused and the property is still in the market and has spent about 500k in the last 2 years marketing the property and another 500k maintaining and paying land use tax on the property.


Mainwhile if he had sold at N50 million in 2018 and invested his fund at a return of 10%, he would have received interest of N10 million on the fund in the last 2 years.

Banks are also on the neck of some real estate enterpreneurs to pay up the loans they got to finance the projects. The longer the houses are in the market the more the interests compound and the bank will take over the Estate

What if there is a tenant in the property in that 2 years?win win for the landlord.
2 years rent at approximately 7m and property appreciation,that is if the house is actually worth the 60m
And no,houses in lekki are not overpriced like you put it.
People are actually paying for these things so I don't know where the whole vacancy thing is coming from.
If the person has a house in lekki for 60m for 2 years and didn't sell,it was because the house was never worth 60m in the first place,nothing else.
Like the person wanted to sell a corolla for range rover money.
Houses in lekki that are worth their money don't stay in the market for long,reason why people are building estates all over that place.

Theconglomerate:
What if there is a tenant in the property in that 2 years?win win for the landlord.
2 years rent at approximately 7m and property appreciation,that is if the house is actually worth the 60m
And no,houses in lekki are not overpriced like you put it.
People are actually paying for these things so I don't know where the whole vacancy thing is coming from.
If the person has a house in lekki for 60m for 2 years and didn't sell,it was because the house was never worth 60m in the first place,nothing else.
Like the person wanted to sell a corolla for range rover money.
Houses in lekki that are worth their money don't stay in the market for long,reason why people are building estates all over that place.

Quite a number of the property are vacant, a property which you want to sell that has a tenant living there will be in the market for a very long time. Unless if the property is offered at a 40% discount below the market price

emmanuelewumi:



Quite a number of the property are vacant, a property which you want to sell that has a tenant living there will be in the market for a very long time. Unless if the property is offered at a 40% discount below the market price

Why do you say this?
Because most times,they are the best sellers

Theconglomerate:
What if there is a tenant in the property in that 2 years?win win for the landlord.
2 years rent at approximately 7m and property appreciation,that is if the house is actually worth the 60m
And no,houses in lekki are not overpriced like you put it.
People are actually paying for these things so I don't know where the whole vacancy thing is coming from.
If the person has a house in lekki for 60m for 2 years and didn't sell,it was because the house was never worth 60m in the first place,nothing else.
Like the person wanted to sell a corolla for range rover money.
Houses in lekki that are worth their money don't stay in the market for long,reason why people are building estates all over that place.

You can't get a house of N100 million in Lekki Phase 1.

Most of the housing units of N60 million are in Estates where the Architect can get 3 duplexes on a 660 square meter plot of land

Theconglomerate:
Why do you say this?
Because most times,they are the best sellers

To make your property move in time make sure the property is vacant, a friend bought a property and waited another 2 years before he could take physical possession because 4 tenants were living in the property when he bought

emmanuelewumi:



You can't get a house of N100 million in Lekki Phase 1.

Most of the housing units of N60 million are in Estates where the Architect can get 3 duplexes on a 660 square meter plot of land

I never said lekki phase 1.
Doesn't matter if there are 100m people in a single room,all that matters is demand,supply and money to me and to most people that buy property for commercial reasons.
People care about location not for fancy reasons but to be sure if they will be able to find tenants willing to pay good money for its value.
So why should I care if it's in an estate that is even a selling point on it's own?

emmanuelewumi:



To make your property move in time make sure the property is vacant, a friend bought a property and waited another 2 years before he could take physical possession because 4 tenants were living in the property when he bought

Why would he want it vacant whereas he is just to continue where the last landlord stopped and start collecting rents
All he needs to do Is go there with the former landlord and indicate that he has bought over the property and rent is to be paid to him,not the former landlord no more.
Unless of course he wants to live there himself.

Theconglomerate:
I never said lekki phase 1.
Doesn't matter if there are 100m people in a single room,all that matters is demand,supply and money to me and to most people that buy property for commercial reasons.
People care about location not for fancy reasons but to be sure if they will be able to find tenants willing to pay good money for its value.
So why should I care if it's in an estate that is even a selling point on it's own?

We get different categories for Lekki and it affects pricing of property.

emmanuelewumi:



We get different categories for Lekki and it affects pricing of property.

Again,not my business.
I was talking commercial and you are talking residential.
Who buys a 100m+ duplex for rent reasons?
How much you want rent am out and who want pay you the amount you are willing to rent it for?
I was talking 45m properties that can easily net 3-3.5m annual income.
So 100m+ properties are not good for this purpose.
Get the point and don't argue blindly.

Theconglomerate:
Why would he want it vacant whereas he is just to continue where the last landlord stopped and start collecting rents
All he needs to do Is go there with the former landlord and indicate that he has bought over the property and rent is to be paid to him,not the former landlord no more.
Unless of course he wants to live there himself.

Most times the property will require renovation or conversion for another use, this will require the property to be vacant in order to add value to the property


Not that easy in Lagos, people selling property can share their experience. Selling a vacant property and a property with tenants

Theconglomerate:
Again,not my business.
I was talking commercial and you are talking residential.
Who buys a 100m+ duplex for rent reasons?
How much you want rent am out and who want pay you the amount you are willing to rent it for?
I was talking 45m properties that can easily net 3-3.5m annual income.
So 100m+ properties are not good for this purpose.
Get the point and don't argue blindly.

Impossible to get a commercial property of N45 million at Lekki. Can't even get on Ikorodu road on the Mainland.

Commercial property will start from N200 million and above

emmanuelewumi:



Most times the property will require renovation or conversion for another use, this will require the property to be vacant in order to add value to the property


Not that easy in Lagos, people selling property can share their experience. Selling a vacant property and a property with tenants

Well,we have different experiences.
Because in my time and sphere I find selling occupied properties easier.
People like to buy properties that are already generating income than new ones that they aren't sure.
Remember I'm talking about capitalists here and not some couple with a dream of owning a home.These set of people don't buy from independent landlords,they either build or buy from real estate developers.
A capitalist buying a property for commercial purposes will pick the ones with tenants a 100 times over than an empty one.
This is my sphere and target when selling a property.

emmanuelewumi:



Impossible to get a commercial property of N45 million at Lekki. Can't even get on Ikorodu road on the Mainland.

Commercial property will start from N200 million and above

Lol Funny you...
What stops me from putting a mini duplex I bought or 45m for rent like the one I posted yesterday?
Is that not a commercial property?
Or commercial property must be block of flats to you?

Theconglomerate:

Lol Funny you...
What stops me from putting a mini duplex I bought or 45m for rent like the one I posted yesterday?
Is that not a commercial property?
Or commercial property must be block of flats to you?

Check the CofO on the property, what purpose is written on it? Residential or Commercial?

MrMcJay:


Check the CofO on the property, what purpose is written on it? Residential or Commercial?

Go and find out the meaning of commercial property,because it seems you are so clueless about it.
Unless of course,you are purposely being irrational for jest purposes.

What's the current rate of tb

Theconglomerate:
Go and find out the meaning of commercial property,because it seems you are so clueless about it.
Unless of course,you are purposely being irrational for jest purposes.

The purpose of a property is written on the CofO. Then you are issued with a C of O, the purpose is written on it. You have Residential, Mixed-Use, Commercial, Industrial, Agricultural, Utility, etc written on it. There is a reason why it is written on it.

Registered Titles particularly C of Os determine the use of a property.

MrMcJay:


The purpose of a property is written on the CofO. Then you are issued with a C of O, the purpose is written on it. You have Residential, Mixed-Use, Commercial, Industrial, Agricultural, Utility, etc written on it. There is a reason why it is written on it.

Registered Titles particularly C of Os determine the use of a property.

Save this baseless talk for who cares to listen.
Go and hold all the people renting out their mini duplexes in lekki with this emptiness you just spew here.
I am talking money and capitalism,someone is talking english language and what's written on C of O.
How does that stop a person from renting out a property?
Do tenants now ask for C of O?
Please don't quote me again with irrelevance I beg you.

Theconglomerate:
Save this baseless talk for who cares to listen.
Go and hold all the people renting out their mini duplexes in lekki with this emptiness you just spew here.
I am talking money and capitalism,someone is talking english language and what's written on C of O.
How does that stop a person from renting out a property?
Do tenants now ask for C of O?
Please don't quote me again with irrelevance I beg you.

Whenever your logic fails you, you resort to adhominen attacks. If you don't know something, you shut up and learn instead of making noise about.

Why am I even wasting my time on someone who has probably never seen a C of O in his life. They probably hand you papers which you have no idea of what they mean until the government demolishes your property and you start crying about.

I am putting down free info that people usually pay heavily for for and you're insulting me. I won't waste my time on you. You're beneath me me and not worth it.

MrMcJay:


Whenever your logic fails you, you resort to adhiminen attacks. If you don't know something, you shut up and learn instead of making noise about.

Why am I even wasting my time on someone who has probably never seen a C of O in his life. They probably hand you papers which you have no idea of what they mean until the government demolishes your property and you start crying about.

I am putting down free info that people usually pay heavily for for and you're insulting me. I won't waste my time on you. You're beneath me me and not worth it.

Your honor,please don't mind the naysayers.We are all here to learn and improve no matter our status.

No need for quarrels..c/o state if land is for residential or commercial or industrial...the all have differ lease aggrements with goverment ...all land belongs to govt so legally u can own it but lease it for 99 years for residential or 50 years for commercial or as low as 25 years in Abuja

MrMcJay:


Whenever your logic fails you, you resort to adhiminen attacks. If you don't know something, you shut up and learn instead of making noise about.

Why am I even wasting my time on someone who has probably never seen a C of O in his life. They probably hand you papers which you have no idea of what they mean until the government demolishes your property and you start crying about.

I am putting down free info that people usually pay heavily for for and you're insulting me. I won't waste my time on you. You're beneath me me and not worth it.

I am beneath you in your little monopoly world or in your dreams.If only you knew
Now let me educate you on things you don't know instead.
A property can have a title of a residence on a C of O and still serve a commercial purpose to the landlord in the form of rent and it is perfectly legal,in so far as he does not go beyond the designation of the property.
That is why no one goes to demolish all those duplexes that serve as commercial property in lekki because it is legal to rent out a residence.
That is,if the property still serve the purpose of a residence as described,no one will come for it yet it is still commercial.
The nonsense you are saying will matter if someone use a residential property for another thing like a nightclub,beer parlour or poultry.
Educate yourself before you educate someone that might be clearly above you.

Commercial allocation are used to develop markets ,offices complex,shopping malls ,even centres etc their lease normally 49.99 years and renewable

ahiboilandgas:
No need for quarrels..c/o state if land is for residential or commercial or industrial...the all have differ lease aggrements with goverment ...all land belongs to govt so legally u can own it but lease it for 99 years for residential or 50 years for commercial or as low as 25 years in Abuja

What you should be asking the fool is if it is illegal to rent out a residential titled property,if it serves the purpose of a residence to a tenant.
Let him answer this and I will know whether to proceed with his stupid ass or not.