WHY HE IS NOT MAKING MONEY FROM HIS RENTAL PROPERTY INVESTMENT | Flo Finance
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- เผยแพร่เมื่อ 22 ก.ค. 2021
- Why he is not making money from his rental property investment.
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Quote me anywhere no Igbo lost any of their houses and landed properties anywhere in the southwest Nigeria during the war. As a matter of fact many of them who made it back came to receive accumulated rents collected for them by their Yoruba friends.
Wow, that's good news! I'm inclined to believe this because I've never heard of such abandoned property stories linked to Lagos.
Wow wow such kindness
My sis, I was so thrilled to stumble on your videos. I especially loved how you broke down the cost of building with videos of them in action.
What makes your videos unique is because of the local experience as against western ones where there experiences differ from ours.
Pls make more on:
1.Making money in real estate in Nigeria.
2. Dealing with tenants
3. How to reduce cost of building etc
Then work on your SEO/keyword so that more people can find your videos.
Keep it up my sister
Pls keep it up
Great advice Flo. Thanks for sharing.
Very educative video. Happy to be watching my sister here on TH-cam. I'm from Idemili north ( Abacha) , close to Abatete.
Thanks for this, Location is very key for returns on investment.
Good advice sis. I wish you issued this advice 18 years ago when my husband built a huge house in our remote village. Today, the house is just sitting empty while we live abroad. What a waste. My own advice for those who must build in the village is to build something small not massive mansions 🤔.
Thanks Flo ❤
Well said.
Well said Beautiful sister FLO, location is very Important when Building a rented apartment and a personal house.
Invaluable info
Thanks Sis Flo, in all to avoid whether their property was returned or will be returned it better for one to invest in the safe place, if one feels that it will be better in your own town or state it's all well.
Foot traffic is also important. Like having a shop under the flat. Thank you for the video.
O yes. That's why houses on major roads are prime real estate.
This is th5e fear of investing, you are so right to resarch before investing
Yeah , aside not building a rental house in the village , I also think it is a waste of money building a big residential house in the village while you're still living in the city because you don't go to your village frequently. Igbos also make that mistake. They build massive houses in the village they don't visit more than three times per annum. It is a no for me. I rather build a relatively small house in the village and invest the rest elsewhere.
We don't even have a good land lord that considered the high praice before house rantage ex perch ally in portharcort,
But people can go to work or businesses from Agulu to awka,amawbia that's how development starts in my home town people rent out flats and rooms
People who goes into real estate are some how already rich, cause building a rental property doesn't equate financial independence and early retirement, it only gives one a sense of financial security, a typical tenant in Nigeria pays between 250-600 thousands Naira per year in a house built with over 15-50million Naira, those who pay more are probably living in posh areas where it cost even more to build,
Do not be in a hurry because it probably your second or third generation that can get the returns on that very property. Just do the math.
Example if you spent 50million Naira on a rental property, and a tenant pays you 1million each year, it will take you 50years to get that money back in cash not forgetting inflation in the equation. So real estate does not really give you money, rather whatever you're doing now to build the house in the real deal. You just need it cause when you get older that will be your social security allowance lol.
Those who are making it big are strictly doing business they buy land, build houses and sell, they've rental property cause they're already billionaires too much money 💰💰💰
How you just nailed the obvious, I have shared this same thoughts and undoubtedly it's 100% true.
Aunty Flo
First today 💃💃💃💃
That's our fear, we recently put our properties in one of Nigeria's cities on sale for fear of what Nigeria is turning into. I agree you shouldn't invest with sentiment but Nigerian sentiments are not just sentiments, anything can happen in Nigeria at anytime. I can't wait for the video.
What do you mean please by, what Nigeria is turning into?🤔
@@ettaebomhe9904 😂😂 the news coming from Nigeria.
Nigeria is not turning into anything my sister. Risk comes with investments and if you’re not ready to take risk then don’t be an investor.
Ify your own is an international issue. 😂😀 We are still talking about regions, you wan japa completely.
Akunauno build in your states concentrate more there
I have followed you forever. Why have I always thought you were from Enugu state? I'm confused. Can't believe you just said Agulu.
Flo l love to invest with OBA people in Anambra, they know how to do business.
😂😂 Oya, let's go to Obi Cubana's page and pick up registration forms.
Rental properties are doing well in Enugu. It depends on where you choose to build. Onitsha has a lot of rental properties but it is not even worth the effort and money considering the rent per year. Enugu and Owerri are not bad.
You maybe right. And high rising is very costly to build. But I think because there are so many flats in one building, the owners still make more money at the end of the day.
2nd today
You are speaking fact thanks for the info
I have made that mistake already by building 4stories at my home town (nnewi) any advice on what to do ASAP to recover the invested money? I was advised to use the house to take a loan from the bank to be able to reinvested in Lagos do you think it’s a good idea? I don’t know very much about the Nigeria banks loaning system, if you have any idea sister pls share and may God bless you for your good work.
Aww, I'm surprised to read that you are finding it difficult to find tenants in Nnewi. I even have a video of me driving around Nnewi on my other channel where I expressed my shock at how so built up Nnewi is. So in spite of all that population, finding tenants is hard? I'm so sorry to read that. Have you tried putting the house up for sale?
Yes, you can use it as collateral to take a loan from the bank and invest it in a properly verified and researched investment. BUT remember that a loan is someone else's money so if another mistake is made, the bank will reposses the house and it would be double jeopardy. I wish you good luck.
@@FloFinance thanks for the update but the thing is that the amount I invested and the house rents does not correspond at all the rent is very cheap down there the land cost me so much and building too I was expecting something more due to the amount I invested so that’s it
@@Toolsbox-77 How much is renting over at Nnewi?
In Uyo, real estate is not profitable. If you use 10 mill to build 4 apartments, people here refuse to pay more than 400,000 for a property. It will take you a few years to break even. Many people say you make your money back in few years is what real estate is supposed to be, no one really understands that depending on where you invest, you can even 10naira profit in one year
It's the same thing in Rivers state
But people currently pay as mush as 3m/yr for such apartment from what I have checked and seen about such apartment in Uyo or you talking of it taking a while before it's rented out ?
No recreation attractions around Agulu lake?
Not enough. 😀
Yes the war got to Lagos. The difference is that the Yorubas are not in a manners of selling their lands to strangers. They can rent houses but yorubas won’t sell their lands. Although things are changing now.
Was this the case before the war? Because in recent times, strangers own the majority of land in Lagos.
Aunty flo. I am still awaiting your reply to my email. It came under my gmail profile name, HUMAN RIGHTS.
THANKS
Ini ego indeed.
All those abandoned properties are fairy tales. No one can take well documented documents.
Please don't say that. These happened. Even if the law would have saved the owners, lives, documents and many valuables were lost during the war. So no backup.
Hey gorgeous Sis,
Good to see in a while❤🌹🌺
What person builds a rental property in a village? And yes, abandoned property never going to happen again in 21st century.
Princess don't bet your last dollar on that o. In as much as we hope and pray that people know better in the 21st century, anything is possible in this country. When it's one's life or his house, you know what the choice will be. 😀 Nigeria is not for the faint hearted, one needs a strong mind to take certain investment risks.
I am so sorry my sister people are becoming so overly sentimental and gullible these days. Most of our people are abandoning the major cities to invest in remote areas of the southeast under the illusion that Nigeria is breaking up. What's wrong with people? Why's people letting toxic politics control their decisions and lives.
That individual deserves what he got🙄🙄
He deserves what he got? 🙄, I don't think that is a kind thing to say to someone. He made a mistake, he is paying for it but you saying he deserves it, common on show some empathy or just don't say anything.
@@ukabamebere6457 I don't care what you think either. I am not sentimental I call things as it is- Sentiment is destroying Nigeria. Why should people make investments based on Sentiment about their illusory Biafra?
Again I have no sympathy for none of then and you can cry me a river 🙄🙄🙄
@@afrikanheritage99 😭😭😭
@@ukabamebere6457 No need getting into an argument with such arrogantly clueless & crass people.
@@chimereh.achilefu9176 Anyone that disagrees with your Biafra idiocy gets name callings. You're very uneducated, otherwise you should've seen through the mediocrity and foolishness of your dumb MNK self serving charade. I am thoroughly embarrassed of gullible people I share the heritage with. Look in the mirror and see who's the problem in the country, you🙄🙄
Sit down and shut up.