Landlord Wahala

It's not news that about 70% of Nigerians live in rented apartments, and once in a while or frequently as the case may be, coming up with our rent money can be a serious challenge. For some, getting kicked out of their apartments is an inevitability as they just cannot afford to pay rent anymore. For others, the constant fear of the possibility of getting kicked out is enough misery. And for those who manage to be assured of paying their rents, very little or nothing is left after paying rents. This begs the question "what keeps going wrong?"

Many average Nigerians make the mistake of buying cars with their first N500K, N800k, or N1m, instead of buying a piece of land that has the propensity of appreciating. Buying cars is not a good investment as cars depreciate in value as time goes bye, but landed properties appreciate. U can sell of your land @ a later time and make some profit, or u can start developing the land.

If you choose to develop your land, don't bite more than you can chew. Start small, build something you can complete easily, like a 2bedroom apartment. Don't go for a duplex or a story building when you are still a starter as u may not be able to complete the project.

Build something yourself and your small immediate family can live in, do this even if u are not yet married. And when the house is completed, move into it. Don't give it out to tenants because its not wise to live in a rented apartment and be a landlord of some other apartment.  Invest wisely.

This is my own take on the subject, but am no authority and have made some of these mistakes mentioned above! Lol. So please feel free to share your experiences here and suggestions too. View another picture after the cut...