Lets say you have $2 million. Often there is a tendency in Nigeria to spend it this way, buy a house in Lekki or Ikoyi for $1m, (houses and land that are already way over priced) buy some nice cars and worry about maintaining the house and new lifestyle, chasing after all manners of deals to make it. Truth is, you might and you might not...but what if you tried this, you buy a piece of land outside lekki, yeah some far out place where land is $50k for a plot, you can buy 4 plots, build you a nice set of block of flats or town homes or even a combination of both, rent out some and sell some. You can even borrow from the bank to build. With all this done, you still have about $1.5m cash. You can live in Lekki or Ikoyi and pay decent rent, if the neighbourhood suits you, and the properties you now own, will afford you the rent. The other thing is that you are not under too much pressure because if you dont do much else and keep $1m in the bank, the interest is good money, you can do business with $500k, truth is if you make it or you dont, youve already made it...this is not rocket science, its just a plan that works, I have seen people do it successfully over and over again, my parents are an example. You enjoy here and leave an inheritance for your children and theirs...≈KDL®™©2014 #sometimesyoudonthavetobelikethejones
Posted on: Sun, 20 Jul 2014 08:27:24 +0000
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