Nigsrdumb:
I need some advice my people. This four flat house is selling for 20 mill in bashorun Ibadan.

Rent is 350k, is this a good idea?

Not bad at all.
You should recover you money in 12 to 15 years, all things being equal.

emmasoft:


At Investment one you don't need cash to get cscs account. All you need to do is click the link on my signature to register online, the account will be sent to your email in 48hrs or less. You can actually open account for different products - stockbroking (cscs), Abacus mmf, VGIF, Dollar Vantage fund VDF etc all at the same time, after that you can now bring in your funds you and invest in any of the product you are interested in.
N.B: You will need to provide your kyc documents and upload them at the last page of the form.

Talking about cscs account, I have a share certificate with access bank,obtained in 2012, is it possible that my cscs acc is on the certificate, and if yes, how can I check if the acc is still valid? Thanks

Nigsrdumb:
I need some advice my people. This four flat house is selling for 20 mill in bashorun Ibadan.

Rent is 350k, is this a good idea?

Exactly what the FG want, pump the money out on businesses or real estate. Investors stand no chance with the low rate than to engage in bizz. Back to your question, the house seems a good deal n still look neat, but price down to 18m/19m, cash is king.

Desanta:


Not bad at all.
You should recover you money in 12 to 15 years, all things being equal.

Thanks a mill.

Please house more inputs. Aihbolagas is great with things like this. Abeg please leave comment

Nigsrdumb:
I need some advice my people. This four flat house is selling for 20 mill in bashorun Ibadan.

Rent is 350k, is this a good idea?

This is very good.
Price am 17m,if they sell buy it.
Even 20m isn't bad for this.

Benzboys:
This is very good.
Price am 17m,if they sell buy it.
Even 20m isn't bad for this.

Thanks a lot bro

Benzboys:
This is very good.
Price am 17m,if they sell buy it.
Even 20m isn't bad for this.

Thanks.

Akin3891:


Good, i believe for me to trade I will need a cscs acc which I don't have for now, getting one ready seems late for the Wednesday auction as I need to submit my form on Monday. Will it be possible to link my cscs acc with the bond later on?

yes ...

Nigsrdumb:
I need some advice my people. This four flat house is selling for 20 mill in bashorun Ibadan.

Rent is 350k, is this a good idea?

20m is not bad for a property like this in Bashorun. You can still price it 18 - 19m.

Nigsrdumb:
I need some advice my people. This four flat house is selling for 20 mill in bashorun Ibadan.

Rent is 350k, is this a good idea?

20m/1.4m = 14 years very good buy ......but wait it look like a property bought by a member here ....

ahiboilandgas:
20m/1.4m = 14 years very good buy ......but wait it look like a property bought by a member here ....

Thank you my oga, may your days be long.

Best investment you can ever make! Take it brother..even at 20m.

Nigsrdumb:


Thanks a mill.

Please house more inputs. Aihbolagas is great with things like this. Abeg please leave comment

Nigsrdumb:
I need some advice my people. This four flat house is selling for 20 mill in bashorun Ibadan.

Rent is 350k, is this a good idea?

Pally! No too waste time o. You'll recover the money in less than 15 years (since the rent cannot remain stagnant) plus still have a valuable/appreciating asset. This is the real distress sale .

otomatic:


Pally! No too waste time o. You'll recover the money in less than 15 years plus still have a valuable/appreciating asset. This is the real distress sale .

There is nothing distress about this sale if you ask me.
Property located deep inside streets with rental income of 1.4m/annum.
So tell me,where is the distress?
Abi na fine compound dey make you emotional?
Distress for this property should be well in the 14-16m range...

Benzboys:
There is nothing distress about this sale if you ask me.
Property located deep inside streets with rental income of 1.4m/annum.
So tell me,where is the distress?
Abi na fine compound dey make you emotional?
Distress for this property should be well in the 14-16m range...

Correct.

Benzboys:
There is nothing distress about this sale if you ask me.
Property located deep inside streets with rental income of 1.4m/annum.
So tell me,where is the distress?
Abi na fine compound dey make you emotional?
Distress for this property should be well in the 14-16m range...

Well, in my location you won't get that house for that amount, so it's distress. And if you are buying land to build, that amount will not do the job. In fact, 16M will only get you a four bedroom bungalow in distress sale. So you see where I'm coming from.

otomatic:


Well, in my location you won't get that house for that amount, so it's distress. And if you are buying land to build, that amount will not do the job. In fact, 16M will only get you a four bedroom bungalow in distress sale. So you see where I'm coming from.

But why you have to compare it with your area still baffles me when we all know location is key when real estate is concerned.
I'm sure rents for the same sized apartment in your area will be well above what the guy put up.
But then,I do understand where you are coming from even though it has sentiments written all over it.
Cool sha.

Akin3891:


Talking about cscs account, I have a share certificate with access bank,obtained in 2012, is it possible that my cscs acc is on the certificate, and if yes, how can I check if the acc is still valid? Thanks

CSCS account is to your shares as bank account is to your money. That means for your shares to be in cscs account, you must bring in your physical certificate (access bank certificate) or any company's certificate to your stockrocking firm which can be investment one if you open account with us in a process called dematrialization (digitizing paper certificate).
With that, your holdings in any company will be kept electronically. As a matter fact currently the regulators have abolish the issuance of physical certificates hence you are requested to supply your cscs account during any primary market activities in shares or bonds.

For any investor, you need cscs account in order for a safe keep of your securities or for trading shares or bonds. So if you intend to buy bonds in primary auction and despose it before the maturity date or you wish to buy shares in the secondary market ie on the floor of the NSE, you need a cscs account compulsorily.

You can click the link on my signature to open a cscs account with investment one. It's free of charge.

Benzboys:
But why you have to compare it with your area still baffles me when we all know location is key when real estate is concerned.
I'm sure rents for the same sized apartment in your area will be well above what the guy put up.
But then,I do understand where you are coming from even though it has sentiments written all over it.
Cool sha.

True, emotions took over. But still, considering the rent and the time to recover your initial capital, I'll say it's a good buy.
Only that buyer should consider vacancy rates in the area, crime rates, accessibility, etc in his due diligence.

Nigsrdumb:
I need some advice my people. This four flat house is selling for 20 mill in bashorun Ibadan.

Rent is 350k, is this a good idea?

As people have rightly stated that you will recover your money in 15 years’ time but let us view this from another investment angle. What if you invest in FGN bond (especially the New Issue not the Re: Opening coupon because you will pay more for those ones). For example you put down your 20 million for 15 years for 12% coupon rate.

20 million for 12% coupon rate = 2.4 million / year x 15 = 36 million.

You’ve more than double your money at the end = 36 million + your original 20 million = 56 million

[quote author=emmasoft post=91883383]

CSCS account is to your shares as bank account is to your money. That means for your shares to be in cscs account, you must bring in your physical certificate (access bank certificate) or any company's certificate to your stockrocking firm which can be investment one if you open account with us in a process called dematrialization (digitizing paper certificate).

Thanks Emma, will go ahead to set it up. But can I link the cscs acc with my bond later on as the acc wouldn't be ready before I submit my form on Monday?

Nigsrdumb:
I need some advice my people. This four flat house is selling for 20 mill in bashorun Ibadan.

Rent is 350k, is this a good idea?

Hmmmm I have always asked questions like this when I wanted to switch portfolio to real estate. I have tried my first one and it seems profitable for me. I'm already completing a room and parlor selfcon and I have spent about 13m...in all I should spend close to 17/16m.

Rent in the area is 300k per annum, a total of 8 apartments.

Thats annual 2.4m...

So your 20m, 1.4m annual return doesn't look appealing to me.

[quote author=Akin3891 post=91885693][/quote]

Yes.

Onlytru:



As people have rightly stated that you will recover your money in 15 years’ time but let us view this from another investment angle. What if you invest in FGN bond (especially the New Issue not the Re: Opening coupon because you will pay more for those ones). For example you put down your 20 million for 15 years for 12% coupon rate.

20 million for 12% coupon rate = 2.4 million / year x 15 = 36 million.

You’ve more than double your money at the end = 36 million + your original 20 million = 56 million

Thanks, what will buying a property like this be worth in 15 years?

What if naira goes burst and d 56 million becomes worthless.

I don't have d answers , but thanks for your contribution..

Onlytru:



As people have rightly stated that you will recover your money in 15 years’ time but let us view this from another investment angle. What if you invest in FGN bond (especially the New Issue not the Re: Opening coupon because you will pay more for those ones). For example you put down your 20 million for 15 years for 12% coupon rate.

20 million for 12% coupon rate = 2.4 million / year x 15 = 36 million.

You’ve more than double your money at the end = 36 million + your original 20 million = 56 million

Permit me to laff, also tell him to consider the troubles surrounding that building, pre and post. Also remember that in your calculated 15years you do not manufacture tenants that are on standby to occupy immediately one tenant packs out. Also remember you will be maintaining that house during the said 15years. In 15years u are only getting your capital, no interest.
That building will boost your ego, physical achievement and attracts penalty. House is not an investment for a life time, its beneficial for reincarnation purposes.

Nigsrdumb:


Thanks, what will buying a property like this be worth in 15 years?

What if naira goes burst and d 56 million becomes worthless.

I don't have d answers , but thanks for your contribution..

With the interest from bond, you can build that same house since you need a building. Thereby leaving you with the same house and your capital value irrespective

Barrytone:


Permit me to laff, also tell him to consider the troubles surrounding that building, pre and post. Also remember that in your calculated 15years you do not manufacture tenants that are on standby to occupy immediately one tenant packs out. Also remember you will be maintaining that house during the said 15years. In 15years u are only getting your capital, no interest.
That building will boost your ego, physical achievement and attracts penalty. House is not an investment for a life time, its beneficial for reincarnation purposes.

Loooooool

You cut a deal with d owner pay the owner 10 Millon and spread the installment payment over 5 years. Use the rest 10millon to buy FGN bonds. Over the next 5 years u would av paid up the balance.

Nigsrdumb:
I need some advice my people. This four flat house is selling for 20 mill in bashorun Ibadan.

Rent is 350k, is this a good idea?

Godbpraised:
You cut a deal with d owner pay the owner 10 Millon and spread the installment payment over 5 years. Use the rest 10millon to buy FGN bonds. Over the next 5 years u would av paid up the balance.

What of if the owner wants to use the 20M to buy FGN bond to avoid Tennants and Maintenance Stress?

Will he agree with this your deal?

Godbpraised:
You cut a deal with d owner pay the owner 10 Millon and spread the installment payment over 5 years. Use the rest 10millon to buy FGN bonds. Over the next 5 years u would av paid up the balance.

You don buy property before so?
Even property developers their max credit duration na 18months,let alone an individual seller.

Barrytone:


Permit me to laff, also tell him to consider the troubles surrounding that building, pre and post. Also remember that in your calculated 15years you do not manufacture tenants that are on standby to occupy immediately one tenant packs out. Also remember you will be maintaining that house during the said 15years. In 15years u are only getting your capital, no interest.
That building will boost your ego, physical achievement and attracts penalty. House is not an investment for a life time, its beneficial for reincarnation purposes.

Lol