Real Estate Guide Newsletter December 2010 Edition Lagos Nigeria
Is Your House Too Big?
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The Real Estate Guide Newsletter
. . . Your Guide To Property Investing
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TABLE OF CONTENTS
1. Is Your House Too Big?
2. December Seminar - Let's Interact One-On-One
3. New Houses For Sale
4. Other Properties For Sale
5. Apartment For Rent
6. A special Message To Property Owners
1. Is Your House Too Big?
Big houses, large apartments, and mansions are impressive to look at. They send a visible message to unlookers that you have arrived . . . that you're not a poor man, that you're rich. And whenever you tell someone that you're the owner of that massive building, they look at you with increased levels of respect.
Respect!
That is what a lot of Nigerians like to get. And it's not just respect in the simple sense of the word. They want to make a statement about how wealthy they have become. And a massive building accomplishes that quite easily.
But, do you really need to build a big house?
The obvious answer is "NO".
Wait. What is the problem with having a really big house?
There are two key issues:
1. It takes longer to rent out especially in some mainland areas of Lagos Nigeria and
2. It takes longer to sell
When a man is wealthy and all is well, the two issues above may not mean anything to him. So, he may decide to build a 9 bedroom duplex just for himself and his family.
However, when his children are all grown up and have left the home, he and his wife may become lonely in a house that big. And in their old age, cleaning and maintaining the home may become a challenge especially if they are retired and have limited funds to support employing maids.
My former landlord had two wings of 5 bedroom duplex somewhere close to Iyana Ipaja. He lived in the front wing and then called an estate agent to find a tenant for the back wing. The property was there for over a year without a tenant because most people considered it too big (and expensive) for their needs.
Eventually he had to convert it to two flats (3 bedroom upstairs & 2 bedroom downstairs) before he could rent it out. And it was pretty easy to rent them out after the conversion.
Another example.
A friend had a detached 6 bedroom duplex somewhere in Magodo and decided to rent it out. The property sat there for over a year because the rental price he wanted was far higher than what normal 4 bedroom duplexes in Magodo went for. And most people did not believe they needed more than 4 bedroom duplex. Therefore, they were unwilling to pay his price.
So, he decided to sell.
He put the property in the market for 80 million Naira at a time when property prices were falling and prices for 5 bedroom duplex was in the 60-65 million Naira range.
Why?
Oh, it's a 6 bedroom detached duplex!
Get the gist?
Nobody prays for sickness, declining financial capability, or any other such challenges that may make one want to sell his house (except for value appreciation, of course).
But circumstances change. And when circumstances change and you want to rent out a part of a large family house or sell outright, you may find it a challenge if the house is too big.
Nigerians are good at showing off what they have. But, please, take this to heart:
"It makes financial sense to build apartments that are easy to sell and easy to rent whenever you decide to do either or both".
Examples include bungalows, 1 bedroom flats and block of flats . . . apartments whose prices are within the reach of low-to-medium income earners.
So take my advice . . . Build with the future in mind!
2. December Seminar - Let's Interact One-On-One
The December 2010 wealth Seminar will take place as follows:
Date: Saturday December 18, 2010
Topic: How To Build A Profitable Internet Business
Time: 11a.m.
Venue: Ashton & Layton Training Centre,
3 First Foundation Close,
Opebi Ikeja, Lagos Nigeria.
(This is the street by Opebi Traffic Light;
road opposite Opebi link Road Ikeja)
Seminar Fee: =N=4,000
NOTE:
(a) Subscribers of the Real Estate Guide newsletter get a 50% discount on the seminar fee. Simply pay 2,000 Naira to our account and send me a text message that you are a subscriber to confirm your seat
(b) Subscribers can 'donate' (or pass their discounted seminar tickets) to relatives or friends if they will not be available for the seminar
(c) Pay before the seminar date so you can reserve a seat. Limited seats available.
(d) If you live overseas, you can book a seat for a relative or friend in Nigeria who cannot afford to pay the seminar fee. Simply use your credit or debit card to book a seat for the person in question. Your payment is processed through the ALERTPAY secure credit card processing system.
(ALERTPAY is a Canadian-based secure and safe online payment processing company).
CLICK HERE to pay.
If you live in Nigeria, Pay to:
Bank: UBA
Account Name: Seamless Solutions
Account Number: 0073 016 001256 7
Branch: Any branch
These seminars present an opportunity for you to have a one-on-one session with me and have all your questions answered. It is also a great opportunity for you to learn how to use the internet to grow the profitability of any business or endeavour you may be involved with.
So . . . Don't miss it!
Donations
Want to support the seminar financially even though you're not attending?
Want to be part of something that teaches Nigerian youths how to build internet businesses based on honesty, ethical business practices, and proven online tools?
Simply donate whatever you wish.
Use the account details above.
3. New Houses For Sale
1. 5 Bedroom detached duplex at Magodo GRA Isheri with one bedroom BQ
Price: 52 million
Title: C of O
2. 4 bedroom detached duplex at Magodo GRA Isheri with family lounge upstairs and 2 bedrooms BQ with its own kitchen
Price: 45 million
Title: C of O
3. 2 Units of 5 bedroom duplex at Magodo Brooks estate Magodo with 1 bedroom BQ
Price: 35 million per unit
Title: C of O
4. 12 units of exquisitely finished and serviced 5 bedroom terrace duplex on two floors at Ikeja GRA. The terrace duplex are in two rows with 6 units per row.
Each duplex has 13 units of A/C, fully fitted kitchen with gas cooker, heat extractor etc, and two living rooms.
Facilities: 24/7 security, electricity, and water supply, swimming pool, parking lots etc
Land size: 4,355 sqm
Price: 140 million Naira per unit
4. Other Properties For Sale
The following properties are available for sale.
1. A plot of land for sale at Peace Estate Isheri North Lagos Nigeria
Title: C of O
Price: 8.5 million Naira
2. 2 units of 3 bedroom flat up to roof level at Ajegunle bus stop Lagos Abeokuta expressway Lagos
Title: Receipt & survey
Price: 3 million Naira
3. 2 buildings comprising a block of 4 units of 3 bedroom flat and 2 units of 2 bedroom flat at cement bus stop Lagos Abeokuta expressway Lagos
Title: Receipt, Survey and deed of assignment
Price: 36 million Naira
4. Property comprising 1 unit of 3 bedroom flat, 1 unit of 1 bedroom flat, a 150 seater capacity hall, and 7 single rooms at Alhaji Bakare street Ojodu (the street beside First Bank Ogunnusi Road Ojodu).
The property is off Ogunnusi Road Ojodu. Neighbourhoods include Omole phase 1, Omole phase 2, Ojodu estate etc
Title: Receipt, registered deed of assignment, and survey
Price: 18 million Naira
5. Property comprising two units of 3 bedroom flat (decked and completed), 3 room BQ with kitchen, toilet, and bath (decked and completed), and two shops at Agbado Lagos Nigeria
Title: C of O
Price: 18 million Naira
6. Fenced and gated plot of land for sale at Isheri North residential scheme Lagos Nigeria
Title: Govt Allocation
Price: 8.5 million
7. 700sqm plot of land for sale at Isheri North Residential scheme
Title: C of O
Price: 6.5 million
8. 1,200 sqm plot of land for sale at Gowon estate Egbeda Lagos Nigeria
Title: C of O
Price: 18 million
9. 5 bedroom bungalow for sale at New Oko Oba Lagos Nigeria
Title: C of O
Price: 9 million
10. 4 bedroom bungalow all rooms ensuite for sale at New Oko-Oba Lagos Nigeria
Title: Receipt and survey
Price: 7 million
11. 10 room tenement house for sale off College road Ogba.
Land size: 344 sqm
Title: C of O
Annual revenue: 360,000 Naira
Price: 7 million Naira
12. A block of 4 nos. 3 bedroom flat with BQ on one plot of land for sale at Agric area of Ikorodu. Three flats are vacant.
Price: 13 million
Title: Receipt, survey, and approved building plan
5. Apartment For Rent
1. A block of 4 units of 3 bedroom flat (new house) at Omole phase 1 estate Ojodu Lagos - all flats vacant.
Rent: 1.4 million Naira per annum, 2 years rent
2. 4 bedroom bungalow with its own compound with three toilets and bath at Omole phase 1 estate Ojodu; two bedrooms ensuite. Also has a gate house and BQ
price: 1.5 million Naira per annum, 2yrs rent
3. 5 bedroom detached duplex all rooms ensuite with one room BQ in Ikeja GRA
price: 6 million Naira per year
6. A special Message For Property Owners
Are you a property owner in Lagos Nigeria?
Do you have a property that you want to sell or rent fast?
Simply call me on 07086459367, 08057912607, or 08033290430
I am at your service.
Best Regards,
Samson Itoje
CEO Zy Properties
07086459367, 08057912607, 08033290430
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