Speaker 1: Hey, hey folks, welcome everyone, Welcome to a little about
Speaker 1: the space in calu Asha. On the space, every week
Speaker 1: we're talking money, the economy, and of course pastal finance.
Speaker 1: This week we're talking real estate, so I hope we
Speaker 1: can't talk real estate. And Guy invited a word to
Speaker 1: talk to us about real estate. It's an interesting as
Speaker 1: a class real estate because it's one class that gives
Speaker 1: you security and also gives you income. So if you
Speaker 1: get real estate, if you buy the house, the house appreciates.
Speaker 1: What if you buy like a commercial property or you
Speaker 1: have a rental, of course you earn income. So you're
Speaker 1: a unique as a master in anyone's spot for you.
Speaker 1: And there are many ways to get exposure to of
Speaker 1: course real estate. You can buy the house, or you
Speaker 1: can buy the paper that signifies to buy the house.
Speaker 1: The people would be like a real estate real estate
Speaker 1: investment trust or even a new sho'll fund that investing
Speaker 1: in real estate. So many many ways for you to
Speaker 1: get access to that market. And that's what we'll talk about.
Speaker 1: To compare which is better, you know, buy the house
Speaker 1: or buying the location itself or actually just going straight
Speaker 1: to the paper. So I'm a market guy, So I
Speaker 1: can talk about the paper. I can give you the
Speaker 1: rate of victim and dividend yield of maybe a read
Speaker 1: in Nigeria and all that. But I only didn't want
Speaker 1: this one to talk to us about the real estate space.
Speaker 2: He set me unlessay is having.
Speaker 1: Some difficulty logging in, So I have a bit of
Speaker 1: Latin time. So if you can log in, we're gonna
Speaker 1: talk to something else. Guys, I apologize, but we'll see
Speaker 1: how it goes. So just by way of information or
Speaker 1: should it just just by way of comparison?
Speaker 2: I looked at the when let me put this way.
Speaker 1: When you buy real estate and you want to compare,
Speaker 1: and you say should I buy real estate?
Speaker 2: Or should I buy stocks? Or should I buy bonds?
Speaker 2: I got a question.
Speaker 1: A lot of people say, I have ten error? What
Speaker 1: should I do? Should I buy land? Should I buy property?
Speaker 2: And all that.
Speaker 1: When you want to compare, you're trying to compare the
Speaker 1: return on your investment.
Speaker 2: That's the first thing, right.
Speaker 1: If you want to buy bonds, you want to buy stocks,
Speaker 1: you want to buy real estate, this has to give
Speaker 1: you a return. If it's not giving you a return
Speaker 1: per se, then you really can compare life for like, So,
Speaker 1: what I mean is you cannot compare is stock paying
Speaker 1: you a dividend to a piece of land that is
Speaker 1: not paying you a dividend. Those are two things. It's
Speaker 1: not because one is a stock and one is a dividend.
Speaker 1: But one is giving you a return and the other
Speaker 1: one isn't You have to compare the returns on boats
Speaker 1: so that you can say it has a higher return.
Speaker 1: Hence I want to go for high returns or I
Speaker 1: want to go for safety. So the very very first
Speaker 1: thing you must do when you want to compare, to
Speaker 1: ask yourself is there a stream of income from that
Speaker 1: asset class. So if I was say forty years old,
Speaker 1: and I got a fifty million ere alone in Nigeria,
Speaker 1: where should I invest?
Speaker 2: Ask Monilo Nigeria. Remember, if you put.
Speaker 3: It in equities, which is a stock market, you are
Speaker 3: going to get an appreciation in the investment should put in?
Speaker 1: So the principle, this is simple. What the principle might increase? Right,
Speaker 1: you might invest fifty million and it's now worth.
Speaker 2: Sixty million because of inflation.
Speaker 1: But what's the actual return that fifty million is paying you?
Speaker 1: That's what we're trying to figure out. What's the actual
Speaker 1: return the fifty million is giving.
Speaker 2: Back to you.
Speaker 1: If you build a house for fifty million era, the
Speaker 1: house is worth fifty million next year inflation is worth
Speaker 1: sixty million.
Speaker 2: But what is the rental from the house. That's what
Speaker 2: we want to figure out as well. So I try
Speaker 2: to compare.
Speaker 3: The rental from the house, and then the dividend yield
Speaker 3: from the stocks, and even the bond yield from the bond.
Speaker 3: We are comparing yield and not the valuation per se
Speaker 3: of the stock. Many times we make that mistake, especially
Speaker 3: with real estate. We say, if I buy a house,
Speaker 3: what's fifty million in ten years is worth five hundred million.
Speaker 2: So my principle has appreciated. That's fine, But what is
Speaker 2: the yield?
Speaker 1: The yield is the real return that you want to
Speaker 1: be comparing with. Otherwise it might be shocker better for
Speaker 1: it to simply put your money in the bank and
Speaker 1: get the return, because of course you have no cost
Speaker 1: of maintenance, you have no cost of paying this to
Speaker 1: the local government or pain that all you have to
Speaker 1: do is invest and get the money.
Speaker 2: That's the difference between.
Speaker 1: As a classic comparison, you have to compare the return
Speaker 1: i e.
Speaker 2: The yield it's giving you so question for us.
Speaker 1: Now, I look at the market and I ask my computer,
Speaker 1: what's the highest yielding investment in Niger.
Speaker 2: This is the dividend yield.
Speaker 1: So if I invested one naira, which companies in Niger
Speaker 1: would give me the highest return in terms of return
Speaker 1: not the appreciation in the stock price, but they return
Speaker 1: to me visa base dividends. Number one was Uba about
Speaker 1: eleven percent. Number two was Access Bank about ten percent.
Speaker 1: Number two was then in Bank about nine percent, so
Speaker 1: banks bank spans. The fourth one was s Fsral.
Speaker 2: Sset Investment Trust.
Speaker 1: So a real sset investment trust takes your money like
Speaker 1: the mutual fund and.
Speaker 2: Then invests in properties.
Speaker 1: So s Fsrail Investment Trust is offering me a return
Speaker 1: of eight point eight percent eight point eight nine percent.
Speaker 1: That's the dividend yield it's offering to me eight point
Speaker 1: eight nine percent. What that means If I invest one
Speaker 1: hundred naira, I get eight nira eight nine cobo back.
Speaker 2: That's what it means.
Speaker 1: This is what you want to use to compare with
Speaker 1: the stalks and the bonds. So you want to ask yourself,
Speaker 1: if I buy a federal government bond, what's a federal
Speaker 1: government bond gonna pay me.
Speaker 2: If you did a federal.
Speaker 1: Goverment savings bond for about two years, you're gonna get
Speaker 1: buy eleven percent. So you can see just off the
Speaker 1: bat with no risk feller goverment savings bond compared to
Speaker 1: relative investments and making more.
Speaker 2: Money in the federal government bond.
Speaker 1: But the federal goment bond is only two years, the
Speaker 1: Silians bond only two years. After two years, what happens?
Speaker 1: And number two, I really don't have any principalwer appreciation.
Speaker 1: I am not buying anything. I'm buying a house that
Speaker 1: would appreciate. But in this bond, I'm putting my principal
Speaker 1: down and I'm getting the rictory tone on it. But
Speaker 1: I want you guys to find what I'm doing here.
Speaker 1: You are looking at the yield, and your yield is
Speaker 1: what you make as a fraction of what you invested.
Speaker 1: You don't look at the yield automatically. You don't look
Speaker 1: at the growth of the asset per see. You look
Speaker 1: at the yield what you are making from that investment.
Speaker 1: So I just want to set that stage for us
Speaker 1: when we're talking relative state. We have to stop looking
Speaker 1: at the asset appreciation itself. But try to look at
Speaker 1: the return that that principle I have invested has returned
Speaker 1: for me, which means if you are if you have
Speaker 1: property today and that rental is.
Speaker 4: Giving you less than what the federal government will pay
Speaker 4: you if you invest in the bond, then quote unquote,
Speaker 4: you are losing money because you should not get anything
Speaker 4: less than what the federal commute is the risk free
Speaker 4: rates in nigerioras is to the point because the federal
Speaker 4: government is risk free, risk free, and then you are
Speaker 4: taking the risk to buy property.
Speaker 2: But when you buy property.
Speaker 3: You should get at least what the federal going is
Speaker 3: going to pay you because that's the risk prey rate.
Speaker 2: The property tenant should pay you more than that to
Speaker 2: make your returns higher.
Speaker 1: But it's a difficult thing to talk about. So that's
Speaker 1: why I brought an expert in here.
Speaker 3: Devo non devo. For more than ten years, I've been
Speaker 3: a customer. Also because a friend and I think it's
Speaker 3: been that space. It's very hard to get put that
Speaker 3: in that space consistently that come and talk to us
Speaker 3: a barrow. I brought him in here this week to
Speaker 3: talk to us about relatives have a lot of topics.
Speaker 2: We're gonna cover devo.
Speaker 1: If you're here, you're not on mute, hit that on
Speaker 1: mute button, Go ahead and introduce yourself. Done the little
Speaker 1: talk on the yields setting the stage up. Go ahead, So.
Speaker 2: Thank you very much, Thank you very much, and.
Speaker 5: Glad to be here.
Speaker 2: Thank you for giving me.
Speaker 6: It's a pleasure.
Speaker 7: And yeah, good day to everyone on this space.
Speaker 6: I'm sure that we are enjoying into various parts of
Speaker 6: the ward.
Speaker 2: Wherever you are in this could be excellent. But who
Speaker 2: are you? Let's get to know you. Who are you,
Speaker 2: what you do? How long have you done it?
Speaker 8: Okay?
Speaker 6: Great?
Speaker 2: So my head is staple at the journey.
Speaker 9: Trained as an agric engineer University of Learning, nineteen.
Speaker 2: Ninety four, told have in nineteenninetyeople for us who strike
Speaker 2: ninety served in the dugue and then started my banking
Speaker 2: career in nineteen ninety six. Wanted the bank.
Speaker 9: For eight years, I was in an equity bank which
Speaker 9: later joined with Go acquired by Intercontinental and then Kasnaga
Speaker 9: later goes to a bass So then left for Fortune Bank.
Speaker 6: Was one of the founding members of.
Speaker 2: Fortune Bank middle management.
Speaker 9: Level and I exited banking in two thousand and four
Speaker 9: to set up my real estate spreneurship career in two
Speaker 9: thousand and five. So what led me into real estate
Speaker 9: was that my last three years in the banking sector,
Speaker 9: I was moved to market.
Speaker 2: In my first five years was in operation.
Speaker 9: So real estate was part of the portfolio I was
Speaker 9: managing and another to write credit, you have to do
Speaker 9: research and all of that, and all of that open
Speaker 9: being up to the world of real estate.
Speaker 2: I got who done it?
Speaker 9: I guess and I have now recovered saying so I've
Speaker 9: been into doing the real estate spaces.
Speaker 2: Two thousand and.
Speaker 9: Five as an entrepreneur, started Relative Point Limited with a
Speaker 9: few investors.
Speaker 6: We are leveled in number.
Speaker 2: And we were sat together today.
Speaker 9: Company, by the grace of God, has been in existence
Speaker 9: for almost twenty years.
Speaker 2: Now.
Speaker 9: Next year we'll be celebrating our twenty eight year business.
Speaker 9: And yeah, we started from the low bodget transactions and
Speaker 9: then we moved on our cross the space. We now
Speaker 9: do development, proper development as well as the full skill
Speaker 9: development we also do. We have not left the low
Speaker 9: bod yet. We just you know, continue to as to
Speaker 9: what we do. We are very strong on learning and
Speaker 9: development in the space as well. We're all arguably maybe
Speaker 9: for the for the and the risk concerning the modest
Speaker 9: maybe the foremost real ested learning and development initiative in
Speaker 9: the Jerior Court School of insted that business. And we
Speaker 9: also are into investment application.
Speaker 2: In some sense, using very.
Speaker 9: Dynamic innovative instruments to ensure that people can invest.
Speaker 2: In real estate.
Speaker 6: Attend.
Speaker 9: Our own drive is really to democratize rel essay, that is,
Speaker 9: for what they want. So our target market usually includes
Speaker 9: the low head.
Speaker 2: That is not to say that we don't.
Speaker 6: Deal with the igh head, but we usually have low and.
Speaker 2: We do in our institution in most of our produce.
Speaker 10: So that's the not.
Speaker 5: Yeah.
Speaker 9: Emb in marketing and then attended the Love Years two
Speaker 9: thousand and tender as well.
Speaker 2: MP fourteen don't business and we do business both in
Speaker 2: Nigeria and in the UK.
Speaker 9: We've done to buy before we've got our fingers points with,
Speaker 9: but we actually do business in Aginia.
Speaker 10: And the UK.
Speaker 11: Presenting us a song that is interesting to us, are study.
Speaker 9: In that creating maybe alliance series and connections that they
Speaker 9: enabled us to that.
Speaker 2: So that's well, that's a nice one.
Speaker 1: You mentioned all those banks, Fortune and Oppro back memories
Speaker 1: in Nigeria and the gen Z guys will follow all
Speaker 1: those banks.
Speaker 2: That we had used to have in the past. You know.
Speaker 1: Interesting, Yeah, and nearly twenty years in the business coruessations
Speaker 1: that that's a milestone.
Speaker 2: For you in Nigeria. Did you know table that the
Speaker 2: average age of a Nigerian startup is two years?
Speaker 1: Did you know that I saw that that's a point
Speaker 1: so where the average age of Nigerian startup is two years?
Speaker 2: Well, okay, I don't know it's two years.
Speaker 6: But I know that it lost five years.
Speaker 2: Do you know why it's two years there? Do you
Speaker 2: know why why it was around two years? Do you
Speaker 2: know why? Big?
Speaker 1: Because you paid two years rent in Nigeria, So when
Speaker 1: the rent expire, that's when it actually dies and my
Speaker 1: die in six months, but that's two years rent to expires,
Speaker 1: the business has to close down formally, so many does
Speaker 1: just die in one month, three months, seven months?
Speaker 2: Or what's that?
Speaker 1: Your rent has inspired your take down? Your sign post
Speaker 1: that we say a well business? Very interesting, very interesting?
Speaker 1: All right, that let's get right into it right. Lots
Speaker 1: of folks are listening in the totalisted what's the overall
Speaker 1: real estate? You know, opportunity or sense what's the market doing?
Speaker 1: If you can take us through Nigeria, you know, what's
Speaker 1: the market? What what's the market looking like now? I
Speaker 1: mean we have have high interest rates from the Central
Speaker 1: Bank of Nigeria. We have dollar about one six three something.
Speaker 1: You know, we have stocks to contact. What's the rest
Speaker 1: of the market doing it healthy? Should we be talking
Speaker 1: having this bit around it? Just go ahead, okay, thank you.
Speaker 9: So the real estate market is quite interesting in Nigeria.
Speaker 9: It can be very healthy and also can be very problematic.
Speaker 6: And that's why I encourage you and I also.
Speaker 2: Like what you're doing.
Speaker 9: People need to get acknowledged before they go into any
Speaker 9: investment essent echever one.
Speaker 2: So what overall if you're doing play real esses knowledge,
Speaker 2: it's very interesting.
Speaker 6: And yes, it's still it's still.
Speaker 12: An assets has to really look at and it's still
Speaker 12: very very very very.
Speaker 2: Profitable when it comes to investment.
Speaker 6: Especially where you are still at.
Speaker 9: The appreciation you know, growth investment schange m hm.
Speaker 1: And by that you mean you're a very young you're
Speaker 1: a young guy that has a lot of death, they
Speaker 1: very low income and in the stage of your life.
Speaker 9: Exactly exactly real estage is still one of asset class
Speaker 9: you should invest.
Speaker 13: And that is primarily because so I heard you talk
Speaker 13: about the treasure. That's primarily because you don't have time
Speaker 13: for a precision to read.
Speaker 2: Kicking and kicking very well. If you, if you, if
Speaker 2: you put the right.
Speaker 9: Properties okay at their a stage, okay, you have enough
Speaker 9: time for.
Speaker 6: A precision to kick in.
Speaker 2: And I take, for example, there's a property in a
Speaker 2: Budja that.
Speaker 9: Suited for five million mira in whenever Songier was doing privatizing.
Speaker 9: I mean it's a private you know, and the ready
Speaker 9: way selling for the governments and monetization, and it was
Speaker 9: also post called if I if I, if I'm correct,
Speaker 9: you know, so some.
Speaker 2: People bought that property, that particular property.
Speaker 9: For five million there as our last year.
Speaker 2: I don't know the value as our last year. When
Speaker 2: I had something.
Speaker 9: To do with that property in October last year, I
Speaker 9: was going for a warm fifteen million.
Speaker 2: Wow. Wow, yeah, it was going for fifteen million.
Speaker 6: But this is a two thousand.
Speaker 14: And five and two and twenty three as eighteen years.
Speaker 2: I couldn't get what it did all through the years.
Speaker 9: But I figured looking at the market data that the
Speaker 9: property would have climbed in terms of appreciation.
Speaker 2: Particularly post code, because.
Speaker 9: Property values are in some cases tree put between twenty
Speaker 9: nineteen and now.
Speaker 1: Would you say, would you say that in Nira is
Speaker 1: it dollar appreciation tripling or is it.
Speaker 2: Like the scarcity of properties to the person's gone up?
Speaker 1: What's driving the appreciation of property in Nigeria?
Speaker 6: Okay? Major?
Speaker 2: You know? For properties, it's really reacts to inflation. Major
Speaker 2: you know, so it helps to hedge.
Speaker 10: Against and that is that is?
Speaker 2: That is what I would say is the major is
Speaker 2: the major using for me?
Speaker 6: Uh, nothing more than that.
Speaker 9: It's just the market forces of majors.
Speaker 2: Our inflation has been crazy for school. So does this
Speaker 2: come across all cities in Nigeria?
Speaker 3: If I had property in Abba or Calamba or you'll
Speaker 3: be would it still rise to this high inflation rate
Speaker 3: or is it just yeah, they're still done for me?
Speaker 2: Okay?
Speaker 9: So the prominent cities very pronounced in Legos, is there
Speaker 9: in some degree a Bouja? And then important cause don't
Speaker 9: you feel this more? In Legos?
Speaker 2: These are legal stata.
Speaker 15: I means, for example, recorded the highest you.
Speaker 6: Know, in terms of apprecision in this period. And I think.
Speaker 5: Beta has it that last year in low Lita has
Speaker 5: it that would.
Speaker 6: Be dip twelve percent in one year.
Speaker 1: Represent Why is it because the bridge why good is
Speaker 1: at the beside the Jata.
Speaker 2: It's next to tell the land bridge. It's not like
Speaker 2: it connects to everywhere.
Speaker 9: Yeah, Google connected everywhere and then we do one side
Speaker 9: of Google.
Speaker 6: I'm talking about it.
Speaker 2: The beauty. That's the one that different to watch and.
Speaker 6: That beauty of area. We are very nice properties there.
Speaker 2: Gr gr is in very prominent into the place.
Speaker 5: There and like the criminal a cream place, one of.
Speaker 9: The best places of the mainland, you know. And proximity,
Speaker 9: like you've mentioned, also makes it a very interesting place
Speaker 9: that people want to stay. Talk about airport opportunity to that,
Speaker 9: talk about that's pontimuity to me. Talk about the mail
Speaker 9: and that's oportunity because you can get out and get
Speaker 9: it into Googo uh straight into the out of mainland
Speaker 9: or streets on your way.
Speaker 6: To the island, you know.
Speaker 9: So and then airport is just still through us into
Speaker 9: where so that makes it and of course it's.
Speaker 10: Duty of the area.
Speaker 9: So it's the development that is available there as it were,
Speaker 9: you know, so that's demand is high more of that.
Speaker 9: So the verses of inflation, and then of course demand
Speaker 9: as well, discussing supply.
Speaker 1: So lets legs is fantastic. Let's let's find legosy away.
Speaker 1: What other city is there opportunities in Nigeria? If I'm listening,
Speaker 1: I'm a Nigerian guy. I want to invest in something
Speaker 1: short lived? What's that's just five legos to five?
Speaker 16: The same?
Speaker 2: Short lived?
Speaker 1: Particularly no just investment in form I can give me,
Speaker 1: like you said, rental or the opposition will be there
Speaker 1: to be rental. What are the good opportunities we are
Speaker 1: the floridas in in Nigeria, Well, the glory.
Speaker 5: There and let's be because and then a.
Speaker 6: Bit of potal courts.
Speaker 9: But because of the political I would see.
Speaker 2: To in portal courts to our next day. It has
Speaker 2: also retarded the growth in case you know, I said
Speaker 2: that it's flacing one challenge or in could is constant challenge.
Speaker 2: They went is left weekends challenge you know. So that's
Speaker 2: also created the mun security, the oil bound creat and
Speaker 2: also all of that has.
Speaker 9: Someffect because a lot of I think towards sometimes between
Speaker 9: twenty twenty nineteen and twenty twenty one, a lot of
Speaker 9: people migrated from what I could have located during.
Speaker 2: The security and all of that.
Speaker 9: So I would say that this is how we classify
Speaker 9: these cities begus if recording the city okayja.
Speaker 2: Okay, and you can follow it up with the.
Speaker 6: Likes of what our course I didn't.
Speaker 5: Can start taking maybe a quiemble okay.
Speaker 2: Acquirement was also doing relatively well using is the normal
Speaker 2: industries moving over.
Speaker 9: There in landscape is beautiful and infrastructure wise, it is
Speaker 9: talking much as twenty So it's witnessing lots of fun
Speaker 9: dimaging investments, especially along the line of manufacturing to dog
Speaker 9: shown processing and stuff like that.
Speaker 2: So it's causing some activities in space there.
Speaker 5: Then you start talking about like the panor of this.
Speaker 9: World and maybe so those are the places that I
Speaker 9: would see people can look at.
Speaker 2: But I would still say, if you have the option
Speaker 2: and if you.
Speaker 5: Can afford to, maybe you just want to share the investment.
Speaker 1: And Legos and aber What about the twenty when in
Speaker 1: the US they have called tri cities. You have the
Speaker 1: Ogon state Legos access, you have the Nasara Bucher access,
Speaker 1: you have the bar Prota access. Is there any trend
Speaker 1: to say if I go to Ogon, I did the
Speaker 1: Legos demand robs off on me and I'm able to
Speaker 1: get the same return, but in an organ state. Same
Speaker 1: thing with Nasarawa, same thing with a bar to protacon.
Speaker 1: Is there any any manage in that conversation.
Speaker 10: Yeah, thank you very much.
Speaker 2: So the these settlements in the fringes.
Speaker 17: Of town, okay, yes, where you talking about legos for example,
Speaker 17: if you're talking about the.
Speaker 6: Movies of those worlds.
Speaker 10: The back forward the I mean, I I mean.
Speaker 6: More way of further that acts.
Speaker 9: Yes, it's already enjoying beligous robin off.
Speaker 2: Well, not exactly the same rate. It's just that exact.
Speaker 9: Places that where you show yourself likely based on maybe
Speaker 9: comptter activities and stuff and information, it would be the
Speaker 9: right time now, and so someone in firstructure would help
Speaker 9: despike that results and very appreciable.
Speaker 6: Good in terms of appreciation.
Speaker 16: Then so the end.
Speaker 2: Is legals.
Speaker 6: But then there's the.
Speaker 9: General side that is bout around that eparancy. So that
Speaker 9: also starts to enjoy legos also who stay goodment, have
Speaker 9: the first sights then do.
Speaker 2: The road you know, almost like yeah it is not
Speaker 2: because we can compare to because of the respects. But
Speaker 2: then with good standards rode that who can es came
Speaker 2: to be able to and con fee and stuff like that.
Speaker 6: So that also has caused some business and appositions.
Speaker 18: In that area.
Speaker 10: And then that agree well, but that did.
Speaker 9: As it then es actually talking about, but that is
Speaker 9: only enjoining what he does can do. But then on
Speaker 9: that axis of that bad bad so in still as well,
Speaker 9: So that area also kind of because is also kind
Speaker 9: of robbing of that.
Speaker 2: Yes, so what you're saying exist.
Speaker 9: I can imagine that for our back and the product
Speaker 9: of Abia because of what is happening, has also started to.
Speaker 2: See some appreciation and some interest in.
Speaker 9: Real estate as a tures.
Speaker 6: Of course, the areas of this world my.
Speaker 2: On the other side.
Speaker 6: Areas of joy.
Speaker 2: Yeah, I mean, I remember when I went to Caliber.
Speaker 1: I took going to Calaba in August a long time ago,
Speaker 1: in August, and I know, I asked the hotel guy
Speaker 1: if I could book a room then in August for
Speaker 1: like December, I look for the Cannibal. The guy told
Speaker 1: me from November there's nothing available in Calaba, not just
Speaker 1: the hotels.
Speaker 3: Before this was before there was Airbnb. He was like,
Speaker 3: people will even give their house house in Calaba the.
Speaker 1: Residents And then they're sort of like maybe moved somewhere
Speaker 1: else off the street because they give their house homes
Speaker 1: off the streets and then they moved for for that
Speaker 1: one month period of December. So why bringing calabic That
Speaker 1: is there a correlation between when the state government invest
Speaker 1: in infrastructure. Again, the example of aquair Bum I used
Speaker 1: to be in. I went to aqui Bum when they
Speaker 1: had the governor, not not the Senate president.
Speaker 6: They one before.
Speaker 2: I think it was David.
Speaker 1: I don't always name was the guy before the current
Speaker 1: Senate president. I went to Aquaibum when the guy was
Speaker 1: the governor.
Speaker 2: And I'm not kidding. I was not in an Aquaibum.
Speaker 2: This senate.
Speaker 1: Yeah something I got his name, This current certain president.
Speaker 1: I mean, I don't like the guys the way he
Speaker 1: has run the Senate, but that guy did wanders in Aquaibum,
Speaker 1: and I mean, if you haven't gone to Aquaibum, you
Speaker 1: should go. You'll be amazed. I mean when I was there,
Speaker 1: they build this on the ground drainage. It used to
Speaker 1: be flooded. Now they build this thing that was burger.
Speaker 2: They build this thing. You know, it's range. You don't
Speaker 2: see any rain. It's a masterpiece in they used the
Speaker 2: oil money well in that place.
Speaker 1: So my question is is there the correlation you would
Speaker 1: see within infrastructure and the price of land.
Speaker 2: Gombe State is the estates in Nigeria.
Speaker 1: Accordingly data from doing Basic Nigeria to do business in Nigeria,
Speaker 1: Gumbe has invested a lot in recoglations in laws. But
Speaker 1: I don't hear anyone say I'm going to invest a
Speaker 1: factory in Gumby.
Speaker 2: But Legos. They talk about Abara. The road to Abara
Speaker 2: is shambles.
Speaker 1: But everybody is going to I mean what I mean
Speaker 1: everybody multinational. There's Nestle, there is Guinness are out there.
Speaker 1: So what is the role of infrastructure in this no prastructure?
Speaker 1: Does my land price go up?
Speaker 2: That's my question? Yes?
Speaker 9: I mean other said when you say when infrastructure come
Speaker 9: sing doesn't impact the prices of properties one hundred percent?
Speaker 2: Because does no doubt about that all across the country.
Speaker 17: I mean within sound, outside of town into states where
Speaker 17: infrastructure comes from girl imparts of properties enumus for example,
Speaker 17: the access you.
Speaker 5: Know, since this project, since I s excited, went back how.
Speaker 6: Many years it was starting from where I was that
Speaker 6: I think.
Speaker 9: Around that you remember it probably still around at the
Speaker 9: time when it sided.
Speaker 5: From an other mobile in the d Miracle, you know,
Speaker 5: that was where.
Speaker 2: I decided this would put it and his still future,
Speaker 2: you know, but it continues to impact and the world
Speaker 2: of descending.
Speaker 5: The mobile and all about that road, you know.
Speaker 10: Just down to.
Speaker 9: Toy face one and then all and it's since then
Speaker 9: it has impacted I imagine. I can remember what I
Speaker 9: did to lay face wrong when I when I when
Speaker 9: I difirst culture in first culture started and till today
Speaker 9: it's still what is causing.
Speaker 6: The kind of opposition that we're we missing on that
Speaker 6: access to.
Speaker 10: You know more, you know, so that's.
Speaker 6: That's in then.
Speaker 9: I remember when Legos in Battle God's improved eventually after
Speaker 9: a normal at tense right from Barbela kings that believing
Speaker 9: and then that sc a lot of those, but I
Speaker 9: mean all of that usually consist what weekend is doing
Speaker 9: now in a Bouja.
Speaker 2: You know. It's also just like starting to tell on prizes.
Speaker 6: Or properties create too.
Speaker 2: I mean I was in a Buja Thursday and Friday.
Speaker 5: For my program and I had like about a one hundred.
Speaker 2: Really simplayers in the room for our seminar.
Speaker 6: And you ter us in Nigeria, Unnary, it's bad.
Speaker 9: That's true because terd an address about two point five cents.
Speaker 1: Okay, thev that was my next topic to you to
Speaker 1: ask you now about it because if I'm an investor,
Speaker 1: I live in America, I have dollars in America.
Speaker 2: Dollars in America is paying me today today?
Speaker 1: Is paying me anywhere from two percent to five percent
Speaker 1: in America. If I take that all out and I
Speaker 1: converted to I get about so one six, so I
Speaker 1: make some good NIRA and I invest in the propertect.
Speaker 1: Then you are telling me the rental year. Is it
Speaker 1: broken down by state state? Or let's start with this,
Speaker 1: which is better for rental? Is it going to be
Speaker 1: commercial or residential?
Speaker 2: Commercial? Commercial? What kind of commercial?
Speaker 6: Stable as residential? So you make the better greater you,
Speaker 6: but then the.
Speaker 2: Risk of void is also there.
Speaker 10: The vote is more than.
Speaker 9: Longer that residential. Okay, what what does BOYD mean vacancy?
Speaker 9: The period we experience an empty competition when.
Speaker 1: Police and get another When you say commercial, are you
Speaker 1: invent to shopping more students, accommodation or what is just?
Speaker 9: Because just inten to residential and combacial, So it includes
Speaker 9: anything that is commercial. If you talk about retail malls,
Speaker 9: you talk about hospitality a lot of those.
Speaker 6: You get more retors with commercial property.
Speaker 9: But if you're not breaking down even within the commercial space,
Speaker 9: and you see retail malls, hopitality.
Speaker 2: Of the ready, I don't know those are those.
Speaker 1: Are in factories, warehouses are My friend does students accommodation?
Speaker 10: Okay, well you.
Speaker 6: So, okay, So we do that accommodation.
Speaker 9: Once you have patients capital and you can mitigate the
Speaker 9: risk of.
Speaker 2: Maybe of course vandalization with insurance, and then the risk
Speaker 2: of strike, especially if you're dealing.
Speaker 9: With governments and institutions, by making sure that you tie
Speaker 9: your rainter to the year.
Speaker 2: It's not the academical leader. Okay.
Speaker 6: Once you can do all of that, the returns are good.
Speaker 11: It's just that in most cases the places are saturated.
Speaker 2: Okay, but let's go back to your point.
Speaker 1: So if you go back to your your commandment about
Speaker 1: the rental you so on the average is you study
Speaker 1: about two it's about.
Speaker 6: Two point five thirty percent.
Speaker 2: However, that is that's excluding the lots of areas. So
Speaker 2: lots of area you can conveniently get.
Speaker 6: Five percent in legos or pots.
Speaker 9: But I was amazed to be here that in a
Speaker 9: bog in my timer, for example, you could more easily
Speaker 9: get ten percent.
Speaker 6: You can get a percent in legos as well, but it's.
Speaker 5: Not really good to be guys or Yeah, I understand that.
Speaker 2: You could more easily get empercent, especially with my term areas.
Speaker 5: You can get a property for a nine hundred millions.
Speaker 2: Are you're able to rent out for nineteen million? Param Yeah, However.
Speaker 5: What people are then using to meeting to let me put.
Speaker 9: Let me say to put the aid of steroid when
Speaker 9: it comes to renter you, it's short legs, its service apartments.
Speaker 10: You know, that's what people are using.
Speaker 19: And if you get it right in certain places all
Speaker 19: through the year, you would average out at a very
Speaker 19: good retib.
Speaker 9: But if you also don't properly choose your location at all,
Speaker 9: it could be placer that you have leader she had.
Speaker 2: The apartment or Joe try traditional.
Speaker 6: Rator other than.
Speaker 1: Because when you say ten percent stable, let's pick that
Speaker 1: down for people. So if I take one hundred million
Speaker 1: NIRA and I build a twin duplex, I stay in one,
Speaker 1: I rite rent out on four bedroom duplex, marmal normal
Speaker 1: standard legos one in say Soulary what's the renting soulary
Speaker 1: for that? For four bedroom duplex? Four bedroom d what's
Speaker 1: the renting scelary.
Speaker 2: Bedroom duplex?
Speaker 5: Bent in sou liary.
Speaker 9: Maybe today you may be look at us, depending on where.
Speaker 2: It is at the age, maybe between five and it's made.
Speaker 2: So even if we take so that's the thing.
Speaker 1: So even if we took that five and eight, not
Speaker 1: even ten million, which nobody would pay you insulary, it's
Speaker 1: still below ten percent.
Speaker 2: This is the point that the rental youth. Yeah, when
Speaker 2: you when you lead drill down, it's not a lot
Speaker 2: because if I take that money, I said this, Yeah,
Speaker 2: I hear you.
Speaker 1: Yeah yeah, So so then you made you made the
Speaker 1: point of patients capital with me. This is the money
Speaker 1: that I have that I can afford to invest and
Speaker 1: wait for say ten years or so. Is patient's capital.
Speaker 1: If I have patients capital, means I'm not paying back interest.
Speaker 1: Maybe I have ten thousand dollars, I'm not paying back interest.
Speaker 1: But it makes a difference if it's money. If I
Speaker 1: work in the bank, my bank gave me loan. I
Speaker 1: build this duplex, it's four hundred million.
Speaker 2: I stay in one. The guy paid me five million.
Speaker 2: Don't that make a difference. This is what I tell yers.
Speaker 6: I believe there's a lot of them already.
Speaker 2: Some of them they've experienced it, so goes in their figures.
Speaker 2: You really don't invest here, please triply a terms.
Speaker 16: It doesn't make it instance, oh it in properties that guy,
Speaker 16: it doesn't make sense.
Speaker 10: Reas is like you said, if you change your.
Speaker 2: Ten thousand dollars that you got good money right there, fine,
Speaker 2: then you combat and invest.
Speaker 9: By the time you have you want to read your money,
Speaker 9: you know, and the combative battle dollar.
Speaker 6: You're looking for, you principal.
Speaker 1: So it's so if I have money that I would
Speaker 1: like to invest in nature realisty, I'm putting to nature
Speaker 1: and I'm leaving to night exactly.
Speaker 9: So I tell people the reason why you're universted that
Speaker 9: you have most so maybe you're coming back.
Speaker 2: So as we are trying to give your assets.
Speaker 10: There, or you have a strategy that the money you
Speaker 10: used to sort that you.
Speaker 9: Are probably going to raise it for my gae. You
Speaker 9: have someone that get very good maybe just getting property.
Speaker 10: There, putting into a short letter, putting money.
Speaker 6: Back when I need to sort anything, that's how.
Speaker 20: I do that.
Speaker 5: I know that certain or there has to be worried,
Speaker 5: or you have to do something for your family, for your.
Speaker 2: Parents and their parents or your brothers or whatever.
Speaker 10: That's it.
Speaker 9: Is it that you're coming back, you're building the business,
Speaker 9: or you want to sorting that magia and you just
Speaker 9: have to pay back some family members and stuff like that, doesn't.
Speaker 1: There are lots of guys want to talk, and I
Speaker 1: know we just up to down open the space off.
Speaker 1: I think my last question was going to be on title,
Speaker 1: but let's keep that. Let's get the guys into talk
Speaker 1: and ask questions. Have maybe they have better questions and
Speaker 1: I I'm gonna add and I've got real real guru
Speaker 1: energy go first, and I'll get and I'm just gonna
Speaker 1: go under line. So really good to go to the
Speaker 1: floor their boys here, what's your question?
Speaker 2: Real guru?
Speaker 1: Go ahead, or if he's still getting it, let's get
Speaker 1: let's get ernest andests go ahead, and next, what's your mind?
Speaker 2: You guess your question to speak, but they're not available.
Speaker 2: Let's get oh cor tai wo, oh coy tai wo. Yes,
Speaker 2: I can tell you, go ahead.
Speaker 8: Thank you, mister cal appreciate what you're doing.
Speaker 2: Are you appreciated? And thank you for making me speaker
Speaker 2: this day on this.
Speaker 8: Platform, I hand on the order because said I'm I
Speaker 8: will not be I think I.
Speaker 6: Read to the next part and then to that.
Speaker 8: Time the end of continued real estate completely legal.
Speaker 21: So I won't really talk much about what he has said.
Speaker 21: I feel said lot and the deal that lo Yeah,
Speaker 21: a lot of speaker want to talk as well. But
Speaker 21: what what I want to speak about me is the
Speaker 21: place of.
Speaker 6: Because I look at.
Speaker 8: Opportunities, they're looking at the best, best partices. So what
Speaker 8: I want to talk about is the of tech in
Speaker 8: real estates.
Speaker 9: And I think that.
Speaker 22: That is what that's that I've not been adapted and
Speaker 22: fortunately see you all right, all right, I.
Speaker 2: Guess you guys you don't mind. Yeah, let me get
Speaker 2: the tech. Go ahead. Ox you've got the floor from here, problem, Yeah,
Speaker 2: go ahead. Thank you for this opportunation to this position.
Speaker 2: So who wants I want to sort of answer.
Speaker 5: The question which is a lot it's not the real estate,
Speaker 5: not the you know.
Speaker 6: The incle or whatever can be better.
Speaker 10: I wanted them or to speak.
Speaker 2: To profession which.
Speaker 23: Professional profession of real estate in terms of documents and
Speaker 23: all of.
Speaker 2: That all that. Yes, that's what I'm define. I'm talking
Speaker 2: about so title.
Speaker 23: Particularity in some places I know some states where I know,
Speaker 23: I don't want to mention it because so that people
Speaker 23: will not speak of people that are intend to do
Speaker 23: legacy protagram that because.
Speaker 2: I know some states I experience if you haven't tied
Speaker 2: to they look at your name before they signed.
Speaker 5: They look at your name, your name before they if
Speaker 5: you're applying for.
Speaker 2: Or you applying for there's something that goes into it.
Speaker 2: They look at your name before.
Speaker 5: So easy to say that is perfet what what what?
Speaker 9: What? What?
Speaker 2: People? Yes, it might be positive with some people.
Speaker 23: You get your access at bombs because most of these
Speaker 23: are Yeah.
Speaker 1: Actually, let I know what you're going to with this,
Speaker 1: but I want to if you to focus on the
Speaker 1: on the business side of this, the equations the one
Speaker 1: I did work an answer, they can answer into the
Speaker 1: title or like all that stuff.
Speaker 2: I get you, right, But I was gonna ask.
Speaker 1: Him more titling like if I'm a how can I
Speaker 1: what's the process for the legal to title propert.
Speaker 2: I wasn't ask him.
Speaker 1: I don't want to get to speak so trying to
Speaker 1: ask you what he can I was like, he's just
Speaker 1: the guy, you know, like you on there so yeah,
Speaker 1: you want to rephrase that, fine.
Speaker 23: Fine, okay, what what I wokay with not just participate,
Speaker 23: But so what I would say is just like they
Speaker 23: are missed on.
Speaker 2: I don't know how I'm much about aware of River
Speaker 2: Stage called real estate, the place where I played. I
Speaker 2: played in the past.
Speaker 24: Of course, sue River State in the past, and unfortunately
Speaker 24: at the time, I really like, I don't know, and
Speaker 24: so what have I made from that?
Speaker 2: Not much? Not much, you know, So I don't know
Speaker 2: what I have experience with River States.
Speaker 5: I don't know what I have experience with.
Speaker 2: This is like the stage.
Speaker 23: Because we've talked so much from Legos, I think of
Speaker 23: my gage is it is, you know, it's.
Speaker 20: I don't know how.
Speaker 5: I don't know how people can to steal, you.
Speaker 23: Know, exact from Legos because it is basically saturated.
Speaker 25: So I don't know the prospects.
Speaker 23: Outside of Legos, labor stage, the out stage.
Speaker 2: Moving down to your states.
Speaker 5: People say that all your space is portable.
Speaker 6: That's a big real estate.
Speaker 23: Maybe you can issue as players outside of Legos. But
Speaker 23: I go from there are some real estate companies that
Speaker 23: play not just Legos. They use, they use they're trying
Speaker 23: to get legoss to invest outside of legos.
Speaker 2: Yet people legos and they get them to be maybe.
Speaker 23: In your stage or even even in the subspace, even
Speaker 23: when they are visits or so, I don't know whether.
Speaker 2: They are prospects for those kinds of let's talk. Let's
Speaker 2: talk about I hear you, but again, people to hear
Speaker 2: about how to make money.
Speaker 1: I don't think most work here if legos are gonna
Speaker 1: make money, panny here about legos that way. Yeah, so,
Speaker 1: but I think general sentiment is more or less to say.
Speaker 1: I was going to lift titling to the end, so
Speaker 1: you can call it those typing. Let me just get
Speaker 1: a few other speakers. Let me get Joshua, josh what's
Speaker 1: your what's your take?
Speaker 2: All right?
Speaker 5: Thank you so much.
Speaker 2: That managers a question, mister dimbo.
Speaker 26: I was going to find out because my day that
Speaker 26: had it promptly somewhere around just.
Speaker 2: After your number.
Speaker 27: The propt in there now is about two plots of land.
Speaker 2: There's a little structure in it. It's been there for
Speaker 2: over five years.
Speaker 6: Nothing has been done, and for.
Speaker 27: Us we don't have the financial progress to be able
Speaker 27: to use at any you know, structure you know, and
Speaker 27: the time value of money and the promptly just ed.
Speaker 5: So I don't know if there's will gets a joint.
Speaker 2: Venture agreement, because each time if you got the you know,
Speaker 2: real estate, there is a companion. I know that. I
Speaker 2: pushed down to the kid telling me that place is
Speaker 2: you know, it's a bit of the investors are not
Speaker 2: really interested. So what what's your advice for for us?
Speaker 2: Thank you?
Speaker 1: So I think I would said DM devil, and maybe
Speaker 1: he will have the DM devil. There was that work
Speaker 1: for you if you can do DM you okay, So
Speaker 1: where were.
Speaker 2: Men I didn't wanted? I apologize, I apologize, lease, go ahead, okay,
Speaker 2: thank you. So I have four questions. I'll just get
Speaker 2: your okay, yeah, I'll be glad you can.
Speaker 5: Run with them.
Speaker 2: So the first is do you suggest to build or
Speaker 2: to buy?
Speaker 18: I'm talking about property in legos now and of course
Speaker 18: most of the areas in.
Speaker 2: Legals, all the ad land right now, talking out.
Speaker 18: Towards if you given my meanings, so but you so
Speaker 18: there's in terms of profitability to build up to the
Speaker 18: second thing is that having conversations around land for farming
Speaker 18: in places like all your and all do you think
Speaker 18: I mean, I'm I'm pretty worried about, you know, in.
Speaker 2: Secularity and other works. But do you think that's profitable?
Speaker 2: I think it's also good for us as a lasion
Speaker 2: to begins to farm. But what are the long term
Speaker 2: short term implications are going? Certainly, what areas you use
Speaker 2: the best for a B and B legos At the moment,
Speaker 2: I'm I'm maybe worried that might become quite satiated. But
Speaker 2: what would be helpful? And the last one mortgage? Please
Speaker 2: the mortgage work? And how can really I can re
Speaker 2: enter into.
Speaker 18: Mortgage for profitability right now and I do what's working
Speaker 18: from thank you?
Speaker 2: Excellent questions very so can I go on that? Yeah, yeah,
Speaker 2: go for it? And this outside of.
Speaker 5: No, I'm hearing like us okay, great, I just.
Speaker 9: Think that that's to be able to answer, uhcol.
Speaker 2: What is the number one? I share the questions on? So,
Speaker 2: I'm not sure if you're hearing.
Speaker 9: Structure, Yes, that all means explod beauty because you will
Speaker 9: be able to see it because and be able to
Speaker 9: have your taste. But if you don't have competencies around
Speaker 9: construction on you, I'm not.
Speaker 2: Sure if it's me. But when I think it's cutting
Speaker 2: off and you hear him now cutting off in manage
Speaker 2: people that the woman, Yeah, they were can you start?
Speaker 1: Can you start from yeah, start from the very top,
Speaker 1: because I know you're cut off the first time, and
Speaker 1: it was just me, can you.
Speaker 2: Start the top? Yeah? The first question is built of
Speaker 2: bye yeah.
Speaker 9: Yeah.
Speaker 6: So I said for beauty by what I normally can't
Speaker 6: sell people, we got you. That is depending on.
Speaker 2: What competencies you have. If you have competencies, are long.
Speaker 9: Construction line by all means explod building, because then you'll
Speaker 9: be able to save costs and be able to have
Speaker 9: your design, your taste and stuffs like that.
Speaker 2: But if you don't have any, if all you have
Speaker 2: is just that you have time, you know you can
Speaker 2: go to such you have time, I would say that seriously.
Speaker 9: We consider that because the place that in counters and
Speaker 9: advantage in terms of being be able to save because
Speaker 9: that watching water and now you may not adventually get
Speaker 9: it because a lot of gimings are played in that
Speaker 9: in the contracting or construction of iniding space. Okay, and
Speaker 9: a lot of people who want to build thinking that
Speaker 9: they save when they end up spending much more than
Speaker 9: if they are boats. Then where you want to buy
Speaker 9: you can easily structure finners okay, for your purchases.
Speaker 6: You can lease all.
Speaker 9: Your available purchases, and structural in finels can be not easier,
Speaker 9: particularly if you select.
Speaker 6: Your developer careful.
Speaker 2: Okay.
Speaker 6: So that's what I would say.
Speaker 9: Wegets in there, then learn from family, depending on how.
Speaker 2: This family transactional structure.
Speaker 10: Or if you're a farmer.
Speaker 2: So if you're a farmer and somebody's doing family in.
Speaker 9: The estate and says, come and buy my land and
Speaker 9: then you can family, that's fine.
Speaker 2: But what I hear most of them do is you
Speaker 2: can we will find for you, okay, and then you
Speaker 2: get to search buses.
Speaker 10: Hey, I read a Rican gineer. If there is any.
Speaker 9: Delicate professional in the world, I mean across the globe
Speaker 9: in this family.
Speaker 2: And that's why in most developed clients.
Speaker 9: They put some warn insurance and they almost like some
Speaker 9: guarante pur Jesus. The government replied of stocks and a
Speaker 9: lot of buses. Or in Nigeria, when I've come to
Speaker 9: realize is that you're not careful with your family.
Speaker 10: You don't know what you're doing very well.
Speaker 9: Even your success would be a play for you, as
Speaker 9: in if you have very good youth, you then have markets.
Speaker 5: That will be built in the market, there are things.
Speaker 2: Will be able to sell, and so it does. And
Speaker 2: then the other thing is that you gonna have diseases.
Speaker 2: You gotta have a lot of flow points.
Speaker 9: Cows can come into your side and all of those couches,
Speaker 9: and so you want you only find a have this structure.
Speaker 2: Or if you're a farmer, okay, if they're going to
Speaker 2: farm for.
Speaker 6: You, I would say they risks too much.
Speaker 2: Okay, they risk is too much.
Speaker 9: But if you're a found you just want to buy
Speaker 9: from them, and they're not pretty your fan, you want
Speaker 9: to preach your family.
Speaker 2: They are fine, fantastic since you understand what you're going
Speaker 2: to be doing. You're going to be doing, you.
Speaker 9: Know better because a lot of these abils have common
Speaker 9: in pat That's what I'm saying, because you run into
Speaker 9: some of these kinds a lot of times and you
Speaker 9: can't get to promise to people and.
Speaker 2: Basically double the devil real quick.
Speaker 1: So for her, now she's asking, is it actually an
Speaker 1: investment work continued to buy the land and leave out
Speaker 1: to a farmer, or she should buy the land and
Speaker 1: farm on her own.
Speaker 2: In fact, maybe ask that on her. You have what
Speaker 2: is what is it the trend there.
Speaker 9: It's better she wants to farm her own that will
Speaker 9: be buying it and listened out to a farmer.
Speaker 5: When we talked on that is like I said, I
Speaker 5: mean then she rested you is not even much.
Speaker 6: We talked about it.
Speaker 2: So now okay, so family.
Speaker 9: Family is poorer in terms of you rating your land. Yeah,
Speaker 9: you just use this for the strategy when people give
Speaker 9: their land to farmers in Nigeria need jo.
Speaker 2: A strategy to that. Okay, you will get to much.
Speaker 2: But if you want to buy the land madefore, if
Speaker 2: you looked at.
Speaker 9: The future and you think that they're speculating the displace
Speaker 9: would really.
Speaker 6: Be something in the future.
Speaker 9: And to use farming as as a security strategy pleaseholder.
Speaker 2: And again just a just a general point.
Speaker 3: If someone comes to you and says I want you
Speaker 3: to invest in my farm and I'm going to give
Speaker 3: you a guaranteed rate of return, you are You are
Speaker 3: no longer invest in the farm.
Speaker 2: You are investing in a bond, no longer a firm,
Speaker 2: not just in a farm.
Speaker 1: Any point that promises you a fixed rate of return
Speaker 1: to do farming, or to do crypto, or to do
Speaker 1: property is no longer that it's a fixed rate of return.
Speaker 1: So what you want to do is you're not compare
Speaker 1: that return with the risk free rates, which is the
Speaker 1: rate that you would get if you boss a federal
Speaker 1: government savings bond. If the federal government savings bond is
Speaker 1: paying you more, you don't invest in that or that
Speaker 1: adventure because once it's a promise, it's a bond.
Speaker 2: It's no longer an investment of profit, and lost promise.
Speaker 3: Makes it a bond, so it has to have a
Speaker 3: higher return him bond.
Speaker 2: Just put that out there. So the question towards let
Speaker 2: me see, Okay, I would yes, a mortgage, but before
Speaker 2: I go into that, let me go right or what
Speaker 2: he does you know beyond just.
Speaker 9: That return should be higher than whatevere way desire.
Speaker 10: Find should be higher you you if it is a private.
Speaker 2: Bond that is not.
Speaker 6: Regulated, the risk is.
Speaker 2: A lot higher.
Speaker 6: And you want to really be careful because I can
Speaker 6: promise you ever than earth.
Speaker 10: But you have access to my books, you know how
Speaker 10: able to make it when you give me that money
Speaker 10: different to.
Speaker 2: It is huge in fact or you know about people
Speaker 2: are just not doing punts. So the only way be
Speaker 2: able to pick last year as God orders.
Speaker 9: Returned this year is because there are French people coming
Speaker 9: into it take those of us, you know, so you
Speaker 9: want to be really careful.
Speaker 2: I know that you're taking a huge risk and may
Speaker 2: not come back. So that's the mortgage. Never before that
Speaker 2: you asked what area for AIRBMB the best location?
Speaker 9: Okay, yeah, sobm B in legos.
Speaker 6: Rights v I that goes with us saying you know, lacky.
Speaker 5: Face one, maybe a to Catta.
Speaker 2: These are places that you are sure off. Okay.
Speaker 9: Then of course one is inclusive, back view is inclusive,
Speaker 9: BECO is inclusive.
Speaker 2: Island inclusive. A little bit of that is having quite
Speaker 2: largely now okay, and with the few residential structures already there.
Speaker 2: So that is that on the island, by the time
Speaker 2: you start to go.
Speaker 9: To areas I shall go to, it becomes very essentially
Speaker 9: operating the kind of NB that allows for parties, allows
Speaker 9: for artists to come and use a place.
Speaker 2: To uh to move movies.
Speaker 5: You know a lot of that set settings and movie sets.
Speaker 2: And a lot of those.
Speaker 6: So because very dies, okay, but if you're.
Speaker 9: Close to some let's say, hospitality facilities that are really
Speaker 9: very good pitches and it can help.
Speaker 2: But the areas that you can be sure on the
Speaker 2: other those.
Speaker 6: Are those are mentioned.
Speaker 2: Then come to the mainland. The lives of shiba estates.
Speaker 2: My god, Monia estate is also not bad. Okay.
Speaker 6: These are areas that you can but I wasn't.
Speaker 2: I wasn't look good at a wild back it's field.
Speaker 6: It's field.
Speaker 10: It's no that that that was?
Speaker 2: That was a very y high end residential. Please they
Speaker 2: manage their homes and build three bedrooms and yeah, yes, good,
Speaker 2: I just left that escape to guess as well. So
Speaker 2: far so yeah. On the bridge, yes, yeah, vibotamal fantastic,
Speaker 2: you know.
Speaker 1: So those areas okay. Then the last question was on
Speaker 1: the mortgage, and go ahead mortgage okay.
Speaker 6: So on mortgage, you want to explore.
Speaker 2: If I employed, whether you want to explore.
Speaker 9: A combination or you want to talk to broadcaster can
Speaker 9: give you a combination. So maybe if you use your
Speaker 9: NHS ensure that.
Speaker 2: They can let you get your five percent of your
Speaker 2: say that's your retirement is okay.
Speaker 9: Because and then maybe they can gang any mouse really
Speaker 9: okay because ordinarily they amgial mortgage is available or e
Speaker 9: goal for market brands where the rates are.
Speaker 2: High, very very high. So he won't.
Speaker 9: I think they over around twenty five percent of us
Speaker 9: right now as we speak, so you can imagine what
Speaker 9: sort of morget that is.
Speaker 6: Okay, boards I also I'm also.
Speaker 5: Aware of some lads that also does you can.
Speaker 6: Almost pseudo mortgage. Okay, it's a reads.
Speaker 10: But what they do what they give out.
Speaker 6: His mortgage as in twenty to buy.
Speaker 9: Properties and they pare themselves to be given very good interature.
Speaker 9: I really can do like fifteen percents. That also is
Speaker 9: you can private chap if you want to explore that.
Speaker 9: They also have facilities to be able to fifty fifty
Speaker 9: review that is cool a ship they buy you to
Speaker 9: any propertify said to bership if you say if you can,
Speaker 9: if you can pied or okay, and then ten years
Speaker 9: they have to exist.
Speaker 5: Can buy them back, back them out or they will sell.
Speaker 2: The property and then you can share fifty fifty.
Speaker 6: So that's what you get when it comes to but
Speaker 6: it's still very much.
Speaker 2: Possible depending on what you do.
Speaker 6: Any Okay, they're out.
Speaker 1: Gold you have that with that effect, Yeah, and just
Speaker 1: develm just also make this point again in terms of
Speaker 1: mortgages through so the actual fact is that there are
Speaker 1: no mortgages in Nigeria. Like how we look at traditional
Speaker 1: long term siblings for homes, we don't have mortgage in Nigia.
Speaker 1: What we have are loans to buy a house. It's
Speaker 1: different and entirely so to buy a house in Nigeria. Yeah,
Speaker 1: you know, you know if you go to if you
Speaker 1: go to the UK or the US to buy a house,
Speaker 1: you're buying maybe off plan or you're buying an existing
Speaker 1: home or your development as a process.
Speaker 2: You know, you get a credit.
Speaker 1: Scoring, then you can get a ten year fixed or
Speaker 1: adjustable rate mortgage.
Speaker 2: Your income is there. You own the home, it's in
Speaker 2: your name. There's the title given to you which you
Speaker 2: can sell and make equity. We don't have it in Nigeria.
Speaker 1: So in Nigia we have You have to buy the land,
Speaker 1: then you have to develop the land. So does that too,
Speaker 1: You know that we seplay both of them.
Speaker 3: Most people buy the land with their own funds, then
Speaker 3: go out and get a loan to perhaps to definishing
Speaker 3: when it's about to rent out.
Speaker 1: But you're going to have to use your own funds
Speaker 1: to develop the land. Why it takes time. It has
Speaker 1: to be patient's capital. If unless I think like they
Speaker 1: say a commercial ab and b in say in lucky
Speaker 1: phase one, where you can borrow money from a bank
Speaker 1: for two years, build it, rent out, and make it
Speaker 1: returns back from rental. If you are building your own
Speaker 1: personal home, the way we do it, there is no
Speaker 1: you know, is that you buy the land and other
Speaker 1: years you put.
Speaker 2: Foundation, then you put one wall, then you roof it.
Speaker 1: They pay you upfront, you buy, they pay you up fronts,
Speaker 1: you buy the bathrooms like that.
Speaker 2: Still you get to the state.
Speaker 3: Where your home is like like ready to be you
Speaker 3: say commissioned. Then you can then take a short term
Speaker 3: loan maybe for a year, paint the house, buy the fittings,
Speaker 3: and move in or rent out. But you won't be
Speaker 3: aware out there.
Speaker 1: Now we have the too, like double said, twenty five
Speaker 1: percent of your retirement service accounts can be used towards.
Speaker 2: A mortgage, so the PFL would pay the mortgage guide.
Speaker 6: So put that that one.
Speaker 1: I think it's more sure than live on the NHF.
Speaker 1: I apply for NGF since two thousand and three, I
Speaker 1: have file number. I don't have the money yet, so
Speaker 1: I know that I know people get this faster, but
Speaker 1: I love I'm not being chasing it. But I'm just
Speaker 1: giving you the facts after the many times.
Speaker 2: So RSA very very important.
Speaker 1: Your own company would have a loan scheme that's usually
Speaker 1: a cheaper than they've commercial banks. So go to your company,
Speaker 1: go to your RS, go to your comparative, go to
Speaker 1: family and friends before you borrow money.
Speaker 2: To buy a house.
Speaker 1: And again in Nigeria today, if you are building single
Speaker 1: single family home, you're on a long tin. Dobble will
Speaker 1: tell you're on a long tam. You must build a
Speaker 1: home even they'll pay you one hundred k a year
Speaker 1: and this you pay the STV that money.
Speaker 2: You have to build at least.
Speaker 1: Something you can rent out what I say in law
Speaker 1: b Q or something you can monetize.
Speaker 2: That place is very very important. And last one, devil,
Speaker 2: you're my witness.
Speaker 1: Again, I went to this estate, and you go to ecoig,
Speaker 1: you go to v I, you go to go you
Speaker 1: see but massive seven bedroom homes built by folks that
Speaker 1: have now retired and their kids have gone to America.
Speaker 2: Those homes are empty.
Speaker 1: So it's a pointer that NIJI don't do this. You retire,
Speaker 1: you move to Florida, you buy your home, you live
Speaker 1: your home. Most of dead capital in this big city
Speaker 1: that a single family. They've been there several dead rooms.
Speaker 1: So think of the future. If you have five kids,
Speaker 1: those kids are not going to come and live with
Speaker 1: you when they getgger.
Speaker 2: They're gonna have their own lives. So think of your plan. B.
Speaker 1: This home is all I'm building this home for now
Speaker 1: and when I retire, I'm going to move to this
Speaker 1: space in Legos.
Speaker 2: While living in VII and equal is very expensive.
Speaker 1: That's the crew do there, but gain there's but if
Speaker 1: we think like that, it might make rents come down.
Speaker 2: There's no point living in v I if you're not working.
Speaker 2: It's so expensive. I mean just to get your land
Speaker 2: use do the shops and all that. We live in
Speaker 2: a Kordu or but di Greve or Orgun or more
Speaker 2: where it's very cheaper for you.
Speaker 1: Right, So maybe we need to take you like that.
Speaker 1: But when we want and if you if you got
Speaker 1: your answer deb was when you you're.
Speaker 5: Good, Yes, I'm blue, and thank you somebody.
Speaker 2: It was quite detailed and a lot of question.
Speaker 6: I don't have a baldy A B and B.
Speaker 2: I know that there are ruled around so su letting apartments.
Speaker 18: So if you have an apartment in the building and
Speaker 18: you want to do a B and B sort of
Speaker 18: a legal implications or does it have to be your
Speaker 18: own full property.
Speaker 2: From top to bottom? He said, So can you come again?
Speaker 2: Oh so I was asking that.
Speaker 28: I know that I ruled around pub lifting apartments.
Speaker 2: So if you had an apartment building and you want
Speaker 2: to do.
Speaker 18: An FBN meeting and then not implications or do you
Speaker 18: have to own the whole property from top to bottom?
Speaker 9: Okay, so with dependents if you are the owner of
Speaker 9: the property, only if it is one apartment happening in
Speaker 9: block or flats, it's yours.
Speaker 2: If you are the one that has the time to police, so.
Speaker 6: You can actually use it for whatever, except there is
Speaker 6: any rule in that environment, maybe in that compound, in that.
Speaker 2: Environment that says that brings are not allowed.
Speaker 6: So if the exactly reustration that, you may not be
Speaker 6: able to do that.
Speaker 9: But if you are renting a property to do their
Speaker 9: B and B, you would have found out pas before
Speaker 9: doing the weather.
Speaker 6: It is something that is liable.
Speaker 2: Most of our laws would found out giving you their
Speaker 2: properties for you to do short lege or service a
Speaker 2: patents with.
Speaker 6: But there are ways to go go about that, and
Speaker 6: the presentation.
Speaker 9: So they arrange us corporate tenants as its way to
Speaker 9: be able to build that whatever. But then you also
Speaker 9: expected to ensure that you do good job of managing
Speaker 9: the property very well.
Speaker 6: So that exists. But just a rider with what have
Speaker 6: you said on the mortgage is.
Speaker 9: That now you do.
Speaker 2: In Asia, they are developers who built and they work
Speaker 2: with mortgage bands.
Speaker 6: I understand and I totally agree with other. Due to
Speaker 6: our rate and process we carrently cover. We have mortgage.
Speaker 9: But there are beauty properties that you can borrow money
Speaker 9: to buy rather than just building your So that's an
Speaker 9: aduction as well.
Speaker 6: And you can also use that.
Speaker 9: That's what I said I do, so you can because
Speaker 9: you need to raise if the properties of the reason
Speaker 9: you might raise.
Speaker 6: Maybe twenty twenty what do all or this other needs?
Speaker 2: And they just got to gotcha? Gotcha. I don't forget
Speaker 2: what it's gonna come out of the title. I just
Speaker 2: want to go together, guys. I'm a tire way.
Speaker 1: More, Thank you so much. I'm you've got the floor.
Speaker 1: Thank yeah, I'm more tire than Pilgrim.
Speaker 15: I'm out.
Speaker 2: I'm going once what I'm doing twice? Hey, pill Grim?
Speaker 2: Are you going? I'm gone, you go ahead, yeah, go ahead, believing.
Speaker 28: Yeah wa, it's a nice face look up here, and
Speaker 28: I love to actually listen so interesting.
Speaker 2: Topics as this, especially starting the country.
Speaker 29: So however, you were call by talking about bond as
Speaker 29: against maybe just trying to wave the options. So talking
Speaker 29: about the I was asking for them. When you buy property,
Speaker 29: don't confuse the appreciation in the value to the diffidend yield.
Speaker 29: You have to compare diffidend yield the property to the
Speaker 29: dividend or cook on the years of the bond, and
Speaker 29: then there's the dividend years of the stock. So we
Speaker 29: yield to yield, not value to yield.
Speaker 2: That's the point I was making.
Speaker 5: Oh, I get your point of what in my own way,
Speaker 5: I believe, let's.
Speaker 2: Pains time frame.
Speaker 27: You your home, let's say ten million are now and okay,
Speaker 27: want to buy real estates or buy bounds.
Speaker 10: We give on your bond.
Speaker 20: Most of the time a n is just your your
Speaker 20: your dividends and.
Speaker 28: Back actually broth as okay what mister Gable.
Speaker 26: Said all the time where you steady able optics and
Speaker 26: some people both in twousand and five for five.
Speaker 6: Million and they want so if.
Speaker 20: You're looking at yield I think it's the one cable.
Speaker 2: Let's say you have access to.
Speaker 26: Shoot some amlit fonts that is and okay those have
Speaker 26: ancestor they meant to.
Speaker 2: Make for awn a period of time and just over
Speaker 2: the bent. But you're looking at we found like value
Speaker 2: worth appreciation.
Speaker 20: So to say I still feel let's says, of course
Speaker 20: it no, you're.
Speaker 1: You're making the same you're making. It's because of your
Speaker 1: your comment. That's why I made sure I made that
Speaker 1: clarity at the very bad beginning. If you are an investor,
Speaker 1: you are looking at yield return. The asset appreciation is
Speaker 1: not the same as the yield. Remember that if the
Speaker 1: property is worth a one hundred million, you have to
Speaker 1: have had a hunt belong to invest in the same place.
Speaker 1: So there's going to be an opportunity cost that if
Speaker 1: you have left that money in the bank. So I've
Speaker 1: seen you doing the money. So why take the money
Speaker 1: from the bank that's going to pay you eleven percent
Speaker 1: and buy property that I will pay you two percent?
Speaker 1: Because you say the value of the property will appreciate,
Speaker 1: what are.
Speaker 2: You making In the end?
Speaker 1: You invest to make money, right, so do your return
Speaker 1: on investment? Your return on assets are still going to
Speaker 1: be lower.
Speaker 2: I'm not debating that.
Speaker 1: The property, by inflation, will not go up in price,
Speaker 1: but you must compare like for like. So if you
Speaker 1: if we both have a million, and you build property
Speaker 1: and you get rental or for one hundred thousand, that's
Speaker 1: ten percent. If I buy a federal government bond to
Speaker 1: my one million, I'm getting fifteen percent, twenty percent, So
Speaker 1: over twenty years period, I still make more than you.
Speaker 28: Or are you saying you get to have opportunities for
Speaker 28: the bank because.
Speaker 6: Over ten years.
Speaker 1: Period the yield of course, yeah, your your yield is
Speaker 1: your rental yield. You can't look at the value of
Speaker 1: the property. You have to look at the rental yield.
Speaker 1: That's the point I'm making. You are comparing the value
Speaker 1: of the property to to my dividend heel, which is wrong.
Speaker 1: You have to compare your rental yield to my coupon
Speaker 1: yield or my dividend yield.
Speaker 2: To the point I'm making, so.
Speaker 6: You can't.
Speaker 2: I'm nottivating it.
Speaker 1: The property will not rise two hundred percent, But what's
Speaker 1: the yield from that two hundred percent? If it's if
Speaker 1: the property is now two hundred million and the rent
Speaker 1: is still one million.
Speaker 2: It's nothing I get one, so all right, sir. Also,
Speaker 2: I just need to portray some one for people who
Speaker 2: are want to try.
Speaker 20: So from experience, I've seen some clients and people.
Speaker 28: Go into sublett especially for the lead that actually may
Speaker 28: we want to get into sublets actually, so there are houses.
Speaker 6: And the green fast which we.
Speaker 26: Have they can house, especially in lind Yeah, this is
Speaker 26: actually overwhelming.
Speaker 27: At the same time, we have eye cot the ranks,
Speaker 27: so we have people having difficult.
Speaker 20: If people with them, especially which is to move home
Speaker 20: in the country.
Speaker 27: So there is an opportunate that I've seen some clients flow.
Speaker 27: So let's say you have five million all timely iron.
Speaker 20: You that you want to do something within the re
Speaker 20: in real space, So what do you get to do
Speaker 20: and rate?
Speaker 6: You can arrange a.
Speaker 2: Place just like the one you've mentioned.
Speaker 20: Big these days and I don't and people are not
Speaker 20: talking a lot of them.
Speaker 28: So of course you have to be an agreement with
Speaker 28: the land so you can ranking on anything you can,
Speaker 28: so bless.
Speaker 26: You can make it into one and make it into
Speaker 26: the thrones you can. That's on on the land of
Speaker 26: permission actually, so you get.
Speaker 20: Something you can create to do outments, you can create
Speaker 20: a different.
Speaker 3: All. I got you a good points. Let me get
Speaker 3: Pillo grips. I got Pilogrip and than Shaddy. I'm thanks God, yeah.
Speaker 2: Everyone, thank you? What are you? Introduction and.
Speaker 6: Resume? I must say I've got a question for you.
Speaker 2: My name is Chick reciting in the UK with of
Speaker 2: course interest and investment in real estate in injury. And
Speaker 2: my question is for mister DeBow. Going from my own experience,
Speaker 2: I've fully invested and real estate.
Speaker 6: In Nigeria and it's been.
Speaker 15: All well relatively until the detail end of the Bohigher administration.
Speaker 6: We delivered a bit of the.
Speaker 15: Dollar pounds messing up and then ultimately fingers completely burned.
Speaker 6: In the last one year, I would say, and my.
Speaker 10: Question would be what is first.
Speaker 2: Questions?
Speaker 15: And first one would be in terms of the devaluation.
Speaker 15: They've got an experience.
Speaker 30: We have properties that are for just tens in two
Speaker 30: thousand and nineteen twenty twenty twenty two and for one thousand,
Speaker 30: one hundred pounds two dollars and then they've appreciated.
Speaker 2: But today when you look at the factory, you want
Speaker 2: to bring it back, bring back money here is worthless.
Speaker 15: I've got property in a Budja that as a twenty
Speaker 15: and nineteen was returning back in to the.
Speaker 6: UK for me six.
Speaker 2: Thousand pounds and they exchange it of about four.
Speaker 15: Fifty that's property at two point one million rentags two
Speaker 15: thousand and nineteen twent thousand and twenty, even with a
Speaker 15: fifty percent on reasoning that is, I mean, I was
Speaker 15: advised by the agency.
Speaker 6: I didn't want to be what.
Speaker 15: Can you do with inflation even at an extra one million,
Speaker 15: which means property has been invented at three million for
Speaker 15: two point five two point six for some people. The
Speaker 15: return has now gone down from about six thousand.
Speaker 2: Coming back in twenty nineteen to a.
Speaker 6: One thousand and eight to break.
Speaker 2: Two thousand pounds today. I repeat, from six thousand.
Speaker 15: Pounds in twenty nineteen has two million to about two
Speaker 15: thousand pounds being returned now at about two point five.
Speaker 2: Point six million brand. So it's horrible, It's terrible.
Speaker 15: And now I have properties that not just million other
Speaker 15: people here in the UK and of course firs that
Speaker 15: please here.
Speaker 2: That I know I have a property that is that
Speaker 2: waschest two today it's unbearable to even me imagine the
Speaker 2: costs to bring it if.
Speaker 31: You want to take back that money, because definitely we
Speaker 31: changed pounds.
Speaker 2: To purchase this property.
Speaker 32: And my question to you I had when you were
Speaker 32: talking about the issue of reinvesting just.
Speaker 31: Because of family members, But how do I put in
Speaker 31: two hundred million and.
Speaker 6: Just for family members?
Speaker 2: To me? And this easy for me to send.
Speaker 9: Them five hundred pounds to please go fiees of people
Speaker 9: one thousand pounds place betting.
Speaker 2: Go to the question so you can look what is
Speaker 2: the way what do you advise the dear sport?
Speaker 15: And with the issue of this devibuation, have we come
Speaker 15: to the end or have we still at the position
Speaker 15: were one hundred thousand pounds comes.
Speaker 31: In and then today at two thousand and two mumble
Speaker 31: to a pound and after two months it goes back
Speaker 31: again to two thousand and five. Can you tell us,
Speaker 31: the dear sport, we are what is the way forward?
Speaker 31: Should we be invested at the moment? Should we be
Speaker 31: by at the moment? Otherwise? Tell us what is the
Speaker 31: way forward beyond investing.
Speaker 2: For family members?
Speaker 6: What is the way forward we should we put that money?
Speaker 2: The second question of God is on the A, B
Speaker 2: and B. And my question for you, please, if you
Speaker 2: have got an experience what a is the future.
Speaker 32: Today A B and B from micronsal personal experience, the
Speaker 32: coast of hosting as has high this guy, okay, with
Speaker 32: the coast of the electricity that is that they're.
Speaker 2: Putting now the patrol and then whatsoever.
Speaker 32: It's nearly coming at a part.
Speaker 2: With even morels and what the competitiveness is now a problem?
Speaker 2: So again, what is the future of A B and.
Speaker 25: B today with respect to the hyper inflection patrol?
Speaker 2: And this I think I think it's.
Speaker 1: We want to take that real quick. It's asking I mean,
Speaker 1: how do you do this? I think it's going back
Speaker 1: to your talkings about diaspora and person na gener real estate.
Speaker 1: How do you what's the best practice around? Do you
Speaker 1: have any tapes for him? And also with the Airbnb,
Speaker 1: I mean things petrol. I have a guy that has
Speaker 1: an AIRBM but he tells me petrol takes everything. This
Speaker 1: just takes the whole profity. So if you take on that,
Speaker 1: they we're gonna hit it on me.
Speaker 10: Oh sorry, okay, sorry, sorry, okay.
Speaker 2: Are you planning to come back to Nigeria.
Speaker 10: Something?
Speaker 6: Just put it? Okay?
Speaker 5: Then then I don't think you should be putting money.
Speaker 6: Except for social disease.
Speaker 2: And I've mentioned earlier, so you probablished and just know that, well,
Speaker 2: certainly I've invested all of this.
Speaker 9: I will focus your investments in other other places for now.
Speaker 9: It's until we get to a point that maybe the
Speaker 9: I can be a bit more stable again and you.
Speaker 2: Can then look at the situation. But so I take
Speaker 2: it an investment decision. When you are praise, what's scene
Speaker 2: you are facing?
Speaker 33: Okay, that is importanss truth and that's what I started
Speaker 33: by saying. That doesn't make any sense in a joint
Speaker 33: as well to be fasting in that year other than
Speaker 33: for social reasons beyond you the retails.
Speaker 2: That's the truth where we are right now. Okay, on
Speaker 2: the short legs, I also don't know which location. So
Speaker 2: it is the I end shortlegs that will survive the
Speaker 2: costs challenge. We are having a new cost of flowing
Speaker 2: up eating costs.
Speaker 6: That we're having right now.
Speaker 9: Okay, I end we have prices can still be moved up,
Speaker 9: and people have reasons why they are taking and that's why.
Speaker 2: You may want to be looking at converting your.
Speaker 6: Short letter apartment.
Speaker 2: So she had the apartment.
Speaker 9: She had The apartment was mentioned, and I think that
Speaker 9: was what I was also talking about in mentioned you
Speaker 9: know lockily bed room, you can structure it.
Speaker 2: In the way and even this little room can be
Speaker 2: converted to your room. Depending on difficulty, the.
Speaker 6: Love or or if you own the property, you can
Speaker 6: do that.
Speaker 9: I invent the three of the forums are become kitten,
Speaker 9: just like what they do, what the HMOs in the.
Speaker 2: UK, stuff like that.
Speaker 10: That's what you may have to do at the moments
Speaker 10: that would still give you.
Speaker 34: I argue next position as to the stooplets, and as
Speaker 34: you know, in our kind of environment, once you start
Speaker 34: a line of business.
Speaker 9: That people think is being becoming more and more profitable,
Speaker 9: a lot of loose and free money. You know that
Speaker 9: people bring guards to them, you know, invest in those
Speaker 9: things until then.
Speaker 2: You saturate the markets, you know, and.
Speaker 9: It then becomes challenging for people to start making reasonable
Speaker 9: So you want to becnsider. You're holding in short let
Speaker 9: apartment depending on the location, and you probably want to check.
Speaker 2: Whether you can switch to here the apartments for now
Speaker 2: and maybe when to realize better they.
Speaker 6: Come back to short That's that's what I would have
Speaker 6: with somewhere.
Speaker 1: Thank you, thank you, you're saying the location of the
Speaker 1: matters high. If it's in a high end, then the rental,
Speaker 1: the charge off your little higher cost. Otherwise move on
Speaker 1: and also don't invest. You cannot says is not coming
Speaker 1: back this particular reason.
Speaker 6: But that's what I'm saying, because it will make sense.
Speaker 6: You're not coming.
Speaker 10: Back if you don't have your family here, that.
Speaker 9: Your mandy property for you do have the situations here
Speaker 9: that usually intotension. I feel that your strategy is solving
Speaker 9: that will investments in a ja taking.
Speaker 10: Care of that.
Speaker 2: You know, there's no points.
Speaker 1: I hear all right, let's get Sheddy and we'll get
Speaker 1: Buddy Shady and the body.
Speaker 2: Shaddy. Go ahead, Okay, good to everyone, Please come form.
Speaker 2: You can hear me, Yes, I can, thank you.
Speaker 19: I had two questions and the previous speaker just to
Speaker 19: my tunder And the first one because.
Speaker 2: Taking a loan that's low interest ways.
Speaker 19: To biprops in Nigeria. When it's time to repatriate and
Speaker 19: you see the extender, it just crashes everything.
Speaker 6: It's really really painful. I know many that have gone another.
Speaker 10: So my next question is going to.
Speaker 6: Be Canule and the table.
Speaker 5: Most of our.
Speaker 2: Conversation has been around investing in.
Speaker 19: Hyber areas they like they the eyes and that asis.
Speaker 19: Now we know that top three in those places are
Speaker 19: very expensive. So I want to look outside of Legos
Speaker 19: and Central Abuja, for example. Many of us in our localities,
Speaker 19: what we have there what I call emotional investments.
Speaker 2: But if one needs to go and invet in real
Speaker 2: estates in places that are not so urban in the currents.
Speaker 19: Nigeria scenario, is that going to be profitable?
Speaker 2: So to be clear, are you saying, like, give me
Speaker 2: a town. Are you saying Tobe investing in, say Jaws
Speaker 2: or where are you going to do this? Can you
Speaker 2: have a town in mind?
Speaker 19: It's just LEAs just for an example, mainland just to
Speaker 19: the higher areas of just now. It's also been priced
Speaker 19: out of I'm looking from the perspective of someone who's
Speaker 19: normally bullying in megabox like that, but who wants to
Speaker 19: start somewhere, so the outskirts of the gay in.
Speaker 6: The place like just now. If you put in a
Speaker 6: building or a.
Speaker 19: Group of buildings other than selling for sales they rent,
Speaker 19: is this long term profitable twenty thirty years?
Speaker 5: Yeah, that's no exactly.
Speaker 10: To how can it now?
Speaker 2: The how can we now defeat this over your.
Speaker 19: I then needs to be able to defeat this over
Speaker 19: your challenge of imploring profitable for years.
Speaker 2: It's an imagine market. You know it's going to blow
Speaker 2: in a furious time.
Speaker 5: We don't know how soon.
Speaker 19: So we're in the lot of we didn't invest when
Speaker 19: it was still very greenland.
Speaker 7: So what you just know is that you're playing the growth.
Speaker 7: You're playing this reculatively. Does only that another best hear me?
Speaker 6: Yeah? Yeah, you know what you do with parties like.
Speaker 11: That is you speculated on the investing you sclate, So
Speaker 11: you know, playing speculative as expecting any return or to
Speaker 11: where you catch up, you get your appreciation and principal Yeah, hm,
Speaker 11: you get what I'm saying.
Speaker 25: It just comes to ready that you're going to be
Speaker 25: getting the government bone is not even wanted.
Speaker 35: But then so on that end, you know you're losing
Speaker 35: speculative majorly because maybe out maybe out typed this because
Speaker 35: I'm struggling to hear.
Speaker 1: So essentially I can help what he's saying. You are speculating.
Speaker 1: This very you have painted is more a speculative adventure.
Speaker 1: That's why he's get.
Speaker 2: To know.
Speaker 36: The most successful business is today.
Speaker 2: From speculations and the hits the good or they lost. Okay,
Speaker 2: that's another way to look at it. Yeah they lost.
Speaker 1: So I mean again, it's goes back to this patient's
Speaker 1: capital thing. You know, instead up by saying you are borrowing.
Speaker 1: If I had ten thousand dollars and I didn't have
Speaker 1: to pay interest on it and I didn't have to
Speaker 1: invest it, oh my god, I'll come to Nigeria. Buy
Speaker 1: five plots and wait, buy five plots two thousand, five
Speaker 1: hundred dollars in Nigeria's a lot of money.
Speaker 2: By five off off commercial, off the big places and wait.
Speaker 1: You know that's the point he's making. If you wait
Speaker 1: those things to blow up your money. If you can
Speaker 1: wait and the thing will become nothing.
Speaker 2: So it's speculation.
Speaker 1: You're not gonna take that money and say, oh, in
Speaker 1: two to three years I want to go back and
Speaker 1: pay up my bank in the US.
Speaker 2: It's not gonna work for you that.
Speaker 6: Way, thank you.
Speaker 19: All right, Securities around to realist this, particularies in Nigeria,
Speaker 19: they are not as secured as with think from everywhere.
Speaker 2: There are many ways to investors.
Speaker 3: You know, when we start up, we talked about investing
Speaker 3: the paper itself Like I said, the fault highest pain
Speaker 3: dividends or paper in Nigeria is relative investment trust.
Speaker 2: I think I set off with that. So relatid is
Speaker 2: a very very wide opportunity.
Speaker 1: You can invest in the actual building, you can invest
Speaker 1: in the paper, you can invest in the reads, the
Speaker 1: mortgage back security is that many ways to get exploded
Speaker 1: as the class. So it's don't you got to say
Speaker 1: that's just if you live abroad? Is I would say,
Speaker 1: if you're not going to come back to Nigeria, why
Speaker 1: buy the property. You can't inspect it, you can't fix
Speaker 1: the toilets and all that. Buy the trust that then
Speaker 1: invests in that property and then you make it your
Speaker 1: eight percent return. Okay, that's enough for you. It's eight percent, right,
Speaker 1: that's what you're going to take home with. That's your yield.
Speaker 1: You don't have to buy the property to make the
Speaker 1: eight percent. You're not going to be there, Wow, then
Speaker 1: you might. You won't be careful about that.
Speaker 2: That's just that's my take on that. All right, shedy,
Speaker 2: let's get let's get bad day. Not a body will
Speaker 2: get dropped off the yeah realiening everybody, really thanks for
Speaker 2: bringing me up? Yeah, thank you so much study book.
Speaker 37: Agree to yeah, from the previous speaker before this last
Speaker 37: person studible actually answered the question.
Speaker 6: I practiced for real estate in Manchuria and as.
Speaker 10: Well I worked with.
Speaker 2: A commercial consule.
Speaker 37: So from actually what he said about someone pulling this
Speaker 37: phone from a broad Now when we are having stry times,
Speaker 37: our testimonies from my customers have because I actually targeted
Speaker 37: on the US and markets have.
Speaker 2: A lot of customers that invested in real.
Speaker 20: Esday purposes from the United States.
Speaker 2: Advised them for now to.
Speaker 37: Hold on because from the area comp it's actually nothing.
Speaker 2: Based on what the previous steaker said.
Speaker 37: Or something actually worked out to twenty twenty two, twenty
Speaker 37: twenty two October.
Speaker 2: You know, if you are to look at developing area,
Speaker 2: not detailoped area.
Speaker 37: Developed area is expensive when if you are to look
Speaker 37: at developing area. Actually so like seventeen plots at a
Speaker 37: helicop twenty twenty one and I made the series of
Speaker 37: eight pups.
Speaker 2: Of my atment. I saw the pair at five hundred
Speaker 2: a pace a pace a pas eight.
Speaker 37: Million, twelve twenty one million presently. So this year February,
Speaker 37: when my one of my customers with actually no concern
Speaker 37: about the rays. If you don't it both the plot
Speaker 37: of that in bed for six point five two, I'm
Speaker 37: still at a five million because it's scars and I
Speaker 37: told him to go down.
Speaker 2: I understand where the rate is going.
Speaker 37: At because when I changed the way for him, then
Speaker 37: I changed in thousand dollars for six points this point.
Speaker 6: Eight also, but.
Speaker 2: You have a question in this.
Speaker 21: No no, no, no no no.
Speaker 37: I'm just checking into what he said that you feel
Speaker 37: looking at investing in from a broade, you consider the
Speaker 37: developing area, not developed area.
Speaker 6: That's what I want to just to pay.
Speaker 3: Okay, that's a good point out there, and why because
Speaker 3: you're you're able to make a faster.
Speaker 2: Developing area is always cheap. It's always cheap.
Speaker 6: He's always cheap and just capital for the next arm speaker.
Speaker 37: Mortgage mortgage, I said, I work in the bank, and mortgage.
Speaker 2: Is actually working in.
Speaker 6: Anjilia because it takes the bank a.
Speaker 37: Lot of time really a verification, the have your sage
Speaker 37: and everything, then before they completely sage the property without markets.
Speaker 6: It's happens on.
Speaker 2: So quitely.
Speaker 37: Body have any option of from a game, I advise
Speaker 37: you raising on the play of.
Speaker 2: Push everything you're going to then in chocolates, A, B
Speaker 2: and B will be we will think if.
Speaker 37: You don't have anything on it, and if you don't
Speaker 37: have anything.
Speaker 2: Onnaked, it's one. All right, I nephew dropped off. All right,
Speaker 2: but I think that's a good point you made there.
Speaker 1: So let's get all that's a bow Nicolas.
Speaker 2: Let's get nicolas and then we'll get all thanks so long.
Speaker 9: Yeah, yeah, because everyone looks from desire states.
Speaker 5: I just want to sleep in something because I've been listening.
Speaker 10: For the why now and I thank you Sam, mister Cargo.
Speaker 6: As double thank you.
Speaker 2: Please. I want to say something like what brother said
Speaker 2: just now.
Speaker 9: If you are doing anything concerning it's to me or
Speaker 9: it's just the world of my own opinion of concerning
Speaker 9: this situationalistic if you're doing anything.
Speaker 2: In real estate, you should consider the area.
Speaker 10: The place where you are, where you're.
Speaker 2: Putting your money in his land, if his guilty, it
Speaker 2: is your whole day where you're putting that money.
Speaker 6: You consider is what does these people need?
Speaker 2: What's first selling day? Reddy? As I'm talking to.
Speaker 6: You now, what the projects we're doing?
Speaker 23: Like I work with Dilan because as in Legos and
Speaker 23: I mean desire rights now working with news that's limited presently.
Speaker 2: And the thing is the area we're working on that
Speaker 2: they're selling that place is first development by seventeen percent
Speaker 2: of the money you're use in buying any land, like
Speaker 2: every month or.
Speaker 9: Even if I can say like two three weeks, if
Speaker 9: you buy a PRONTC land for several.
Speaker 20: Million, life now I took play with I'm getting.
Speaker 2: Under a buyer for twenty twenty five million. So my
Speaker 2: own opinion in disol thing is you have to.
Speaker 37: Look at the area, the areas you're buying from, and
Speaker 37: how is the area fast?
Speaker 9: And are the trading there? Are people coming to the
Speaker 9: develop first? Are people coming to get property the area before?
Speaker 2: Now? Are people see coming?
Speaker 9: You have to make those verifications before you put your
Speaker 9: money in any other property.
Speaker 6: We may be the next investment when it goes to rare.
Speaker 6: Essays thank you sir.
Speaker 1: All right, let me just really ask you this question
Speaker 1: before we use we're on the on the lee went
Speaker 1: out to cover the space. Let's talk about titling. So
Speaker 1: let's talk about titling. You know I'm a bit familiar
Speaker 1: with and maybe walk us through what are the best
Speaker 1: practice doesn't have to be legals perceive, but what are
Speaker 1: the best practices for Thailand.
Speaker 2: I know Oly had asked that question. What should we
Speaker 2: look out for? We have to have a lawyer.
Speaker 3: If you want to buy land. You see your whole
Speaker 3: still supreme. What would you advise, I don't live in Nigeria,
Speaker 3: how do I do it?
Speaker 1: Just walk us through best practice for those listening or
Speaker 1: how to buy property in Nigeria.
Speaker 2: Okay, yeah, So.
Speaker 10: When you want to.
Speaker 6: Buy property, and.
Speaker 9: I would say, use professionals, okay, in professial.
Speaker 6: Agents, use profession legal.
Speaker 9: Person to do your due diligence and said is now
Speaker 9: when it comes to buying properties, your initia finding most
Speaker 9: sought out to madior things regardless of the state of
Speaker 9: the title of the property, whether it's perfected or not,
Speaker 9: you must check. So your General of the States by
Speaker 9: going physically to the land to pick co adience and chatting.
Speaker 6: Is your General's office a lands of.
Speaker 10: Your can help you do this.
Speaker 6: It's the loss of your.
Speaker 10: No notice.
Speaker 6: The status of the land.
Speaker 9: Land in Nigeria are usually existing at four categories.
Speaker 2: Okay, one particular category you should.
Speaker 6: Not touch you with a long pole. The other three
Speaker 6: you can talk about.
Speaker 9: You have to understand implications in terms of course, so
Speaker 9: a land can be free in terms of status because
Speaker 9: by the low government land using Nigeria is nineteen seventy
Speaker 9: land user right. Every land in the Oba area of
Speaker 9: the state is put in trust of the government.
Speaker 2: And of the suburban jur area is putting trust of
Speaker 2: German of the local government council. Okay.
Speaker 6: Lego State, for example, does not have.
Speaker 2: Any rural area anymore.
Speaker 9: I decition every area in Lego stages of bad so
Speaker 9: no local gov Jama can sign and C for a
Speaker 9: tap for me Legos. That is silly fights between c
Speaker 9: and Dama.
Speaker 6: So millias.
Speaker 9: But I think it's it's almost taken about you, Loue.
Speaker 9: So the others in a Ja, I think it some
Speaker 9: places we have local government chairman has still santages.
Speaker 2: For you if it is you are in the states,
Speaker 2: so you check with some of your General's office okay
Speaker 2: or the local government of the.
Speaker 9: State, whereas in charge of the area to charge what they.
Speaker 6: Can be free made of freeze.
Speaker 9: A government has munched any interest in the land okay.
Speaker 9: So it's free from any governments from any coogans okay.
Speaker 9: Or it is acquired when the land is acquired and
Speaker 9: as you know, I would advise that you don't touch,
Speaker 9: and sage.
Speaker 2: You have powers touching.
Speaker 9: Acquisition are two food the general acquisition or specific acquisitions
Speaker 9: or some places you say it's committed acquisition or law committed. Okay,
Speaker 9: so check with well specifical general or commutent and committed.
Speaker 6: I don't advise touch it as sex.
Speaker 10: You are so clear that this is something you can get.
Speaker 2: To be released. Okay. So that's that's why you don't
Speaker 2: touch that.
Speaker 5: The lad could be that.
Speaker 6: It is ratifiable.
Speaker 9: Ratifiable means that it's being committed okay.
Speaker 2: But government has also issue a communication maybe to.
Speaker 10: Say that you know what we used, I want to
Speaker 10: use or we are no longer interested using, so we.
Speaker 6: Are open to you know, like defined for any private use.
Speaker 2: So that's the type of LaRue saying by to actually buy.
Speaker 5: From the land of the family and then you buy
Speaker 5: from government, it.
Speaker 9: Just means that you would play some reasonable amount. I
Speaker 9: will go through some permission with government as.
Speaker 5: Well to give to something that land and to be
Speaker 5: able to do.
Speaker 6: Your attacked money.
Speaker 2: Okay.
Speaker 6: Then if fourth from his way, it is exercised.
Speaker 2: Exercise means that it's.
Speaker 9: Formally acquired before but now releasts back usually to the
Speaker 9: people it was acquired from.
Speaker 6: Maybe you can trade it, so use it.
Speaker 10: It can.
Speaker 6: Just added four years now. That is one aspect.
Speaker 9: You check these stages, and with the same coordinacy you
Speaker 9: also go to the physical planet of the states and
Speaker 9: check the use you can put the land to most
Speaker 9: seasons as you are now hard body called master plan
Speaker 9: every land, every inch of land in most states.
Speaker 6: I know if legos are bulger part of what our
Speaker 6: called carder.
Speaker 2: You know whose states these places have some master plans
Speaker 2: almost entirely master plans exiety.
Speaker 6: So you check in the physical office.
Speaker 9: What use can I put these lambs that used had
Speaker 9: to agree with you used your plan to put it.
Speaker 9: For example, if you're applying to doing the residential construction
Speaker 9: development there, it must be that it's either available for
Speaker 9: mixed use or especially for resignation, and then you can
Speaker 9: use it for apples. If you say it is an
Speaker 9: interestodents's recreation, you can't use it for your resilation except
Speaker 9: you are then able to do what they call change
Speaker 9: of use, which we have advocacy through ours are not
Speaker 9: through physicalties.
Speaker 6: You must find out before you take that risk. If
Speaker 6: it is something that.
Speaker 2: Is possible, you can have the.
Speaker 9: Juice changed, okay, the designated juice change towards we want
Speaker 9: to use it for so that those are the fundamental
Speaker 9: Then before you as start to do dig the source.
Speaker 6: That you're buying from legitimates.
Speaker 2: No, that is better done by professional agents.
Speaker 6: Or agents or a lawyer diagnosis only it's okay, do
Speaker 6: dig diligence, inspect the.
Speaker 5: Side to go back there and make findings.
Speaker 9: And then also the former lony called legle sage okay,
Speaker 9: through last Bureau of the States.
Speaker 6: We write whatever titles on the land, we write to
Speaker 6: verifind it.
Speaker 10: We there has no titles on the line in this
Speaker 10: free and there's not the enterty I.
Speaker 9: Think customized Londoners indigenous. You get there, you get the
Speaker 9: information you have given principal members of the family.
Speaker 6: In the head of the family.
Speaker 9: And the secondly are very important that you also incomplete
Speaker 9: as many people as possible with.
Speaker 6: The family which you are you can hold so that every.
Speaker 9: Generational persons who are publimed with young generation as a true.
Speaker 10: But in all of this it's good to have knowledge
Speaker 10: or what is to be.
Speaker 6: Done, but the best will be used professionals.
Speaker 2: And when I say this professionalis the people I advice
Speaker 2: you to use our people who are who have subscribed
Speaker 2: to some good of ethics in their professional social and
Speaker 2: having place can progam should anything happen.
Speaker 9: People the essence of yours bidelas or agents that are
Speaker 9: registered proparts and the most l civil agency.
Speaker 6: Point in the gas a year.
Speaker 2: As a serial basis egentes of Nigeria.
Speaker 16: They are.
Speaker 2: Blas and then lawyers and of course like you're.
Speaker 9: A bus you know you have to verify these people.
Speaker 9: You are dining planner, I mean interplasures registered.
Speaker 2: You are dealing in the lands of your measure.
Speaker 9: Understand, all of these people have their associations that a
Speaker 9: liecis band.
Speaker 5: Law okay, and you can report anyone.
Speaker 9: By any professional gearab okay. So that's what I would advise. Now,
Speaker 9: cr foos as no new can vilance that doesn't even
Speaker 9: have advertised yet, but the most of that starts are
Speaker 9: getting issue.
Speaker 10: You will find out whether these things is usual ENTI
Speaker 10: to out.
Speaker 2: How much it costs and whether you are ready for
Speaker 2: baking you know or if you can't say that.
Speaker 5: As some time to go enjoy ready to enjoy it.
Speaker 9: Maybe CRHO maybe even that's fast yours.
Speaker 10: Another somewhere that your needs or whatever.
Speaker 2: It's constructed and search for that in that view. In
Speaker 2: terms of distinct I would claimed I can assi, no,
Speaker 2: I hear you.
Speaker 1: I mean what I got from this was number one.
Speaker 1: Try to work with professionals. Number two, see your food,
Speaker 1: no circles, science the head. You say, search for the
Speaker 1: use of the land if you have been avoided or
Speaker 1: if you're still ongoing. But for me, if you live abroad,
Speaker 1: get a lawyer, get on and knows what he is doing.
Speaker 1: You know, in lots of persons legos you buy from
Speaker 1: the family, they have to go to the legosy allowncer
Speaker 1: to perfect your land. Same in other states you buy
Speaker 1: from family, you gont perfect X and CFO. I would
Speaker 1: just say default to be professional. That way they know
Speaker 1: what they're doing, and I think it's instort of like
Speaker 1: hy part of him. And then testing love just gets
Speaker 1: two questions from Allah and the hotel and we'll cost
Speaker 1: to day if you don't mind, so all and yeah, all,
Speaker 1: I go for it, and now get tell me.
Speaker 2: I'm doing very well. So thank you.
Speaker 38: Okay, sir, grouping and everyone, what's the times for your time?
Speaker 6: Again?
Speaker 38: Listening right from the inception? Good question for you, sir,
Speaker 38: and in regarding this time, but I want you to
Speaker 38: listen to my question, sir.
Speaker 6: I'm to acquire a land. And then we did the research.
Speaker 9: And we were putting the SOBIA and everything and because
Speaker 9: red copy from the office of the.
Speaker 2: SOB genera legal state and it says the land is
Speaker 2: free years okay, go ahead, okay, and they said the
Speaker 2: land is.
Speaker 5: Crea Before I go for that, one question one quick
Speaker 5: one yes or no?
Speaker 36: If the land is committed or the land is not free,
Speaker 36: can you see a record, your dallar.
Speaker 6: So there are complications.
Speaker 5: The person you are doing that word they are keeping
Speaker 5: you with that.
Speaker 6: How do you missa okay?
Speaker 2: So when the land is not free, that's a date
Speaker 2: from which he started not to be free.
Speaker 9: Somebody wants to be funded can do it so bad
Speaker 9: dated before that did slotting into the records. You know
Speaker 9: how that can happen an engineer, and they give you
Speaker 9: that document, if you use that to go and do
Speaker 9: your search, they're gonna tell you also because he also.
Speaker 10: There is free.
Speaker 2: It is not free.
Speaker 10: So that's right, like we.
Speaker 2: Said, useful chance it and the places where we can
Speaker 2: check the statures of the land calling not the lads
Speaker 2: read some pieces our.
Speaker 10: Part to what I was saying, thanks for that.
Speaker 2: So when this land was a potase, I, I guess
Speaker 2: Servio to do this.
Speaker 36: Check for me, and they said it was free, and
Speaker 36: then again sob and then the red copy yourself and
Speaker 36: said it was free.
Speaker 2: It was this was doing Covie twenty twenty.
Speaker 36: Now, first forward to four years, the coastal root, this
Speaker 36: coastal wood used to came up.
Speaker 6: Does this see it match? I think?
Speaker 2: And then they came to the community, the community it's
Speaker 2: going on c for as well. Now we came to
Speaker 2: the community and they start marking I have to go
Speaker 2: for this row.
Speaker 36: Fortunately for me, my party wasn't marked and the often
Speaker 36: is just gonna go pass through and all of that.
Speaker 9: And then I wanted to go in for my approver
Speaker 9: and someone that got nor consent because it's got a
Speaker 9: c B and all that, and then went back.
Speaker 2: A mistake on my sory.
Speaker 36: So we went back to lentify the names on my
Speaker 36: soul because I've made a mistake or if I.
Speaker 6: Want to go back. And then now kere the copy back?
Speaker 36: They read copyback and no, the study Landforce with a
Speaker 36: lucky acquisition.
Speaker 6: M hm.
Speaker 2: So it goes from the sorry is that the question
Speaker 2: put to them was.
Speaker 1: Okay, okay, color let me say this right, take the boss,
Speaker 1: d L or something.
Speaker 2: I know.
Speaker 1: Yes, I'm learning from all your questions, and I think
Speaker 1: that was the qualification of that first question. But now
Speaker 1: when you go too deep, it's you know, so I
Speaker 1: want you to take the boss information.
Speaker 2: If you don't have the.
Speaker 1: DM me, I'll make sure I got you with it.
Speaker 1: But I think I learned from the first one. I
Speaker 1: think I have a very interesting case. You want to
Speaker 1: follow the lawyer or we Dable with professional right, I
Speaker 1: don't have the country of I think your your your consensor, Jamie,
Speaker 1: but I want you to take it up with them
Speaker 1: with Dable after this, or let's have a specific question.
Speaker 1: I mean the first question you're asking that was very
Speaker 1: generally thic. We let for me, but this is now
Speaker 1: more pecular to you. I want to do a flop
Speaker 1: with him after this. Yeah, if you can devil DM,
Speaker 1: I'm sure him all right, And then let's get a
Speaker 1: tell hotel is going to be last, and then we
Speaker 1: just got I've kept I kept the money here. I
Speaker 1: don't know if he has to go to something, I'll
Speaker 1: tell you've got the floor. Last, last guy, go ahead.
Speaker 6: All thank you very much for this platform.
Speaker 39: My question is around I think what's holding a lot
Speaker 39: of people back is just how opick land opposition is
Speaker 39: in Nigeria and you know, there's no like straightforward way
Speaker 39: to work about it.
Speaker 40: I mean, if there's anything that kind of speatured our
Speaker 40: capacity is just story from all I hear where you
Speaker 40: know he did the right thing and all of that,
Speaker 40: and it seems like the whole system just kind of
Speaker 40: works in a way where you need to know certain people,
Speaker 40: which like most people don't know because it's not the
Speaker 40: daily job is not like there is like a clear
Speaker 40: guide and somewhere that is, you know, open for someone
Speaker 40: to do to kind of like just check this are
Speaker 40: like the checklist of what you need to do in
Speaker 40: order to to acquire landing, like and and like I
Speaker 40: can't even want to ask the question, like how does
Speaker 40: someone who just wants to do.
Speaker 6: The right thing go about doing it? Like what's the
Speaker 6: like I don't want to say, was the in way?
Speaker 41: But but yeah, like that like the fact that everything
Speaker 41: just seems so munky, Everything just.
Speaker 6: Seems so kind of like he did.
Speaker 2: And if you want to do the right thing.
Speaker 41: Anything you know, it makes it credibly hard here that
Speaker 41: which recite and things that'd be better because here you
Speaker 41: have you know, if if you know, if.
Speaker 42: Your land has like maybe out of or something is
Speaker 42: easy for you to verify.
Speaker 40: I mean, there's still some level of shading that is
Speaker 40: going on, but if you know, it's much much easier.
Speaker 42: But down the state, a lot of these things are
Speaker 42: just the institutions and the structures are just not there.
Speaker 42: And in such a situation, how do you how like
Speaker 42: what what is it the hope that you're going to
Speaker 42: buy this land and at the end of the day,
Speaker 42: the land doesn't just get like grab from you sometimes
Speaker 42: by people who's who are manning.
Speaker 39: The institutions that are supposed to protect your rights to property.
Speaker 1: So if I hear you right there you asked about
Speaker 1: how to do right thing? Or like I think, is
Speaker 1: that what you're doing?
Speaker 2: How do you?
Speaker 10: How do you?
Speaker 2: How do you?
Speaker 40: How do I won't even have clarity because there is
Speaker 40: no clarity when the consolership.
Speaker 9: It's not like it's just not easy if I buy
Speaker 9: account to me and I want to get it registered.
Speaker 9: I mean, there are fair guidelines on how I go
Speaker 9: safting for a company, right, my dealership is not like
Speaker 9: that in Nigeria, Like how do you go about doing
Speaker 9: the right thing?
Speaker 40: Especially in places like lingals for example? You know, like
Speaker 40: what's what's the what's the what's the right best way?
Speaker 40: My rule of tom generally is try to buy properties
Speaker 40: that have mortgage right, because then the banks have all
Speaker 40: the verifications for you. And even if you're not going
Speaker 40: to take the muggage, you can the rest are sure
Speaker 40: that no nobody wants to do money right and so yeah,
Speaker 40: but you know, for a lot of people who maybe
Speaker 40: they just want to buy land, like how what's the
Speaker 40: best way? What's the rule of thumb? I know he
Speaker 40: gave some things that you have to talk to some professionals,
Speaker 40: but you know some of these things like for me,
Speaker 40: for example, I didn't even listen to what he said,
Speaker 40: but immediately it just can sleep by mine. I was
Speaker 40: at writing it down.
Speaker 42: What are those things that one can't do, like easy
Speaker 42: steps that one can't take?
Speaker 2: Just okay, if you are aligned by this right, you
Speaker 2: can't get it wrong? All right? All right? Maybe maybe
Speaker 2: maybe I don't know.
Speaker 1: I would say one or two bullet points would help
Speaker 1: you because like again, the point is making, which we
Speaker 1: all agree with. Land in Nigeria is state specific. If
Speaker 1: you go to Legos or a Puja, it's easier.
Speaker 2: Many states, it's very murky.
Speaker 1: They are no laid out guys that I think the
Speaker 1: enjoy used to track the ease of acquiring property used
Speaker 1: to be something that we used to track. The niegia
Speaker 1: we stopped in twenty is it twenty eighteen when the
Speaker 1: World Bank stopped it? But back then you consistence that
Speaker 1: we're doing very very well in the ease of doing
Speaker 1: illustrate title and still that I want.
Speaker 2: To do it very very well.
Speaker 1: But overall I like one or two blood points that
Speaker 1: you must do before you even go ahead. One or
Speaker 1: two clear blood points for us.
Speaker 9: Okay, thank you very much, And I understand what is
Speaker 9: saying perfectly.
Speaker 6: Unfortunately, I don't we heard much.
Speaker 2: You have to do.
Speaker 6: Use professionals. That's the truth really across it.
Speaker 9: Across places, use professionals. However, I will say one of
Speaker 9: the things. The other thing is that because of the winner.
Speaker 6: He works, like you mentioned to.
Speaker 12: Advise people that when you want to do anything in
Speaker 12: real estate, I've mentioned it decidded three less relad as,
Speaker 12: three ministries or arms of government that you have to touch.
Speaker 9: Based with one the last viewau. Each chi has one
Speaker 9: of your as office.
Speaker 2: Each stage has won the billings to a physical plan.
Speaker 2: Each stage has one.
Speaker 9: Now locate mid level managers in those places. Get them
Speaker 9: into a conversation if possible, engage again, especially if they.
Speaker 6: Have all of them.
Speaker 2: Periods of records.
Speaker 6: All of them more or less.
Speaker 9: Have some ppdi O prince that is registered okay with
Speaker 9: their professional friends.
Speaker 6: Or themselves at the back of it. Most they are professionals.
Speaker 10: Deal with them without their pp.
Speaker 2: To do or to achieve what you achieve.
Speaker 9: Okay, That way it will be a lot easier for
Speaker 9: you to achieve whatever you want to achieve. I sent
Speaker 9: middle level because the high end guy is commissioner pers
Speaker 9: all of those who because you.
Speaker 2: Have any leg and it's just cost.
Speaker 10: For nothing because they're not really going to be working.
Speaker 6: Still, the new level guys have a new job, then the.
Speaker 10: Low head guys, they will.
Speaker 9: Be cheap, but then your job will never get done
Speaker 9: because they have to pack somebody before the job is now.
Speaker 9: But it is the mediu guys that does the job
Speaker 9: for you head guys, and they are also the ones
Speaker 9: that will help the middle the blue head guys.
Speaker 2: So the blue head guys can they are that they
Speaker 2: can call okay and so they can get their way
Speaker 2: and I can.
Speaker 6: Affordable or something more with their buds.
Speaker 9: That's how I would advise that you work, praise right
Speaker 9: and know about these ministries.
Speaker 2: Have information materials. It's just that you know there are
Speaker 2: no wells have related Get.
Speaker 6: To their website may not be updated.
Speaker 9: And am I saying check their website When you go
Speaker 9: to the ministries, get the information materials, you know.
Speaker 2: Read them, connect with somebody there, make fact.
Speaker 6: Do your due to the games were with the.
Speaker 2: Professional outside or.
Speaker 9: Inside You get your operasial side of your accident to
Speaker 9: get somebody who's side to work with.
Speaker 6: When you look at that inside that it's a lot
Speaker 6: easier for you.
Speaker 2: To achieve what you want to achieve.
Speaker 6: That is what I would summarize that in terms of
Speaker 6: what you should do.
Speaker 2: And I hope I think it does. I think it
Speaker 2: does a lot. But so then were I just rounded
Speaker 2: by just take So if I was in Nigerian today
Speaker 2: or not in Nigerian.
Speaker 1: Would you and I'm putting on a spot here, would
Speaker 1: you recommend if I had funds to die? Actually back
Speaker 1: to this question, Actually, go and invest in property. Do
Speaker 1: you think it's there's there's there's a future for that
Speaker 1: owning property with all the cost of doing But you
Speaker 1: still think it's an investment that you do or.
Speaker 2: Else to fix the positive put money there? What's your finals?
Speaker 2: An investment should do.
Speaker 9: A it's also word has.
Speaker 6: Really that's which kind of appreciate it.
Speaker 5: Yes, it's an investment, should realist.
Speaker 2: It should be in anybody's portfolio once you can have fun.
Speaker 9: And I like, if I talk about the red stuff,
Speaker 9: I mean to look at the analysis.
Speaker 6: Capu again.
Speaker 2: Reads, yes, whatever from the private Yeah, it's the higher
Speaker 2: I mean, yeah, it's the highest.
Speaker 10: Yeah, So I tell people I think you can start
Speaker 10: from that point.
Speaker 5: You know, I have a lot of body people more
Speaker 5: than somewhere.
Speaker 9: But you can't bang into a read or he's sad,
Speaker 9: you know, stuffs like I want talk.
Speaker 2: But it's something in realizes is something.
Speaker 6: That you should get no doubt about that absolutely.
Speaker 2: And last question, imagine, I think I'll ask that question
Speaker 2: to you. So what it's talking about? Why can't we
Speaker 2: talkenize this fund reason for a property? Sassy He went
Speaker 2: to a place and he saw that people would get
Speaker 2: a house and.
Speaker 1: It would sell like a rich you sell the tokens
Speaker 1: and when you buy that talken, you own your home.
Speaker 2: You can then fund your home. And all that is
Speaker 2: asking why is that not so widespread in the conflict
Speaker 2: Natia will have high cost of capital? Have you seen
Speaker 2: that is something you think can work?
Speaker 13: Yeah, it is, it is there, but the world this
Speaker 13: is not widespread.
Speaker 6: But I don't think you would talk about it's not
Speaker 6: even spread.
Speaker 2: Don't white.
Speaker 9: Ni Sex just came up with the regulation to approve
Speaker 9: the class from about two years ago, you know, and
Speaker 9: even at that when they came up with this.
Speaker 5: At this time about and it really can't.
Speaker 2: Say up the back head.
Speaker 9: But there's a lot of priority organization as it's also helping.
Speaker 43: Yeah, yes outside of sex as in and some of
Speaker 43: them are very well a nice around so they can export.
Speaker 2: That's the next life.
Speaker 6: That's next that we are exploring how to go.
Speaker 2: To the market.
Speaker 6: Now, I ate and issue and we raised reads.
Speaker 2: You know and stuff.
Speaker 44: I believe that's an opportunity for people about finance and
Speaker 44: structuring the financing and funding and raising a lot of these.
Speaker 2: Take back there the uh metrodologies that we can't then
Speaker 2: use a fly.
Speaker 1: Sometimes out that that we can take advantage of because
Speaker 1: we have all the FinTechs we have about the I mean,
Speaker 1: it's I just feel there's something that is easily pluggable
Speaker 1: if you have we have something called the proper.
Speaker 2: Crowding they want they allow you to raise funds.
Speaker 9: I was.
Speaker 10: Crowding, but you know that's on.
Speaker 9: But mys Rena revealed that they are struggling in the
Speaker 9: terms of market.
Speaker 2: As time you was a game, it's in adia and
Speaker 2: has a very challenging problem.
Speaker 9: You know, for for improper coward now because of the
Speaker 9: red time les when they compare to you to other options,
Speaker 9: people rather go.
Speaker 2: For other options. Once do anyway lasts structure and appreciation.
Speaker 5: Is not part of what when we pay out at
Speaker 5: the end of the day, it's going.
Speaker 6: To be difficult for you to complete. Even money market.
Speaker 2: Sometimes lots of talk about the market.
Speaker 9: So Proper County is there, prop Cloud is there, and
Speaker 9: their surviving.
Speaker 2: I know they are trying to work with majority of
Speaker 2: that right now because I'm involving some life and that's
Speaker 2: the only I think I was about to even the
Speaker 2: only license circlectence.
Speaker 1: Funding if if I was able to take off the
Speaker 1: ground that would make a big impact. But all our
Speaker 1: saying for those aphones that you would allow you if
Speaker 1: you had a property, you could go to proper crowding
Speaker 1: and say I want to get investors, and investors can
Speaker 1: subscribe really quick and intiregret to your quote unquote talkings.
Speaker 2: Would you then used to fund your property?
Speaker 1: That would be a game, kind of a game ginger
Speaker 1: for that mid market, you know, zero to maybe twenty
Speaker 1: five million, an.
Speaker 2: Era of old. It really helped wanted.
Speaker 6: Yeah, and I believe that it pretty through.
Speaker 1: Okay, well it's all right, perfect, perfect, definitely to sign
Speaker 1: out there. But I can't thank you enough. I mean,
Speaker 1: we're just a conversation about real estate. Is this something
Speaker 1: we should buy? You've got a lot of insights into locations,
Speaker 1: into processes and all and the good questions have come true.
Speaker 1: We're in a way for Airbnb, Persson titling and also
Speaker 1: that asks about you know, how to get it startling done.
Speaker 2: It's a very very marketing. But I think you've cleared
Speaker 2: up for us a bit and we're grateful for so
Speaker 2: thanks guys for hanging in here, for learning with the talks.
Speaker 1: Were here every week every Sunday, seven pm start time.
Speaker 1: We talk about investing our personal finances of course the economy,
Speaker 1: so it's perfect to bring in different different assecs to
Speaker 1: trying to bring somebody else again our next week table.
Speaker 1: Thank you so so much. I wish you guys are
Speaker 1: the very best. On your Twitter's anniversary, keep going, keep.
Speaker 2: Rising, thank you, thank you so much. All right, yes, sir,
Speaker 2: please to leave. I try to message mister Dable now
Speaker 2: it's not going through.
Speaker 10: His dear is not going through it is he allowed
Speaker 10: us not able to answer.
Speaker 2: My question question none of please answer this question. I apologize.
Speaker 2: I'm just saying go ahead, holl please.
Speaker 9: I was saying that now he said, I'm now for
Speaker 9: I am a position because of the coastal moment.
Speaker 2: Parties on mark and we went back to ask them.
Speaker 2: The reason why that is doing so is because of
Speaker 2: the coast hour that is going through that ass is
Speaker 2: they don't know which party is the matter.
Speaker 38: All that so for not legal sty because's just trying
Speaker 38: to cover themselves because of that.
Speaker 2: I can't do anything on my property.
Speaker 10: I just have to pando that I spent.
Speaker 2: So much money on that property. Yeah, sorry, it's entire right.
Speaker 10: All I can I can, I can.
Speaker 6: I can I anyfied with things.
Speaker 2: Ready with you and I understand what you're saying very well,
Speaker 2: and they just chold you the reason.
Speaker 6: So you see godness in this part of the world.
Speaker 2: It's very.
Speaker 6: I don't want to do I don't want to use
Speaker 6: the world.
Speaker 2: I want to use.
Speaker 6: But you see the rules as its way.
Speaker 2: You can imagine the excuse.
Speaker 6: Me, ga, we don't know where the landge. They just
Speaker 6: want to place it and then they are all the
Speaker 6: ole investment in.
Speaker 2: Lingual So you can imagine and that's exactly just what
Speaker 2: is happening. That's exactly what you.
Speaker 6: Discined up very well.
Speaker 2: And they started but you.
Speaker 10: Know very well, very well, very well, very and I
Speaker 10: know that.
Speaker 6: They've they've also moved the game, so we are not sure.
Speaker 2: So it's unfortunate. It's unfortunate.
Speaker 9: I suspect that under normal condition your property is not
Speaker 9: under any acquisition. But because they now don't know how
Speaker 9: they will end up, the government is using this part
Speaker 9: out to just I mean, you hold any in the
Speaker 9: land idea that won'st approve it like now till they
Speaker 9: decide or they're.
Speaker 6: Able to have a care as to what they want
Speaker 6: to do. You can imagine that, and they won't take
Speaker 6: that decision the good time.
Speaker 2: Unfortunately, they will just take that time as if they
Speaker 2: have all the time in the world. But that's what
Speaker 2: is happening. That's what it happened.
Speaker 9: But I believe you're using somebody the term plan of
Speaker 9: the always help you get information as to what is happening. Yes,
Speaker 9: I'm not in the country, so I'm just hoping anytime
Speaker 9: I come into the country, I'll go in myself and.
Speaker 10: There find that what is happening.
Speaker 2: All right, guys also ugly yes to the ground.
Speaker 6: I'm somebody who.
Speaker 1: Help you, all right, So excellent. I hope that you're welcome.
Speaker 1: We just want to make sure you get salted. That's fantastic.
Speaker 1: So guys, thanks so much for joining, and I appreciate
Speaker 1: one that I've been here. We'll meet again next week
Speaker 1: on that topic debated, Learn and become better sometimes time.
Speaker 1: If you guys, have a good one ticket for yourself
Speaker 1: and be nice, it's gonna be a great week.
Speaker 2: Go out and make it.
Speaker 1: There's most to noise about. The divertic pricing has come out.
Speaker 1: Now we're gonna buying diesel and all that so vanished.
Speaker 1: It's just amazing and Nigeria and just an amazing place
Speaker 1: where we're boycotting. Were boycotting a low priced the lower
Speaker 1: priced and stuffly I don't don'tunderstand it, all right, all.
Speaker 2: Right guys have a good one. De boy again, thank
Speaker 2: you so much. Do you guys have going on?
Speaker 6: Coom bye, You're welcome by pleasure. I'll take care take it.