Talking Nigerian Real Estate opportunities. Which locations? best practice

Hey, hey folks, welcome everyone, Welcome to a little about the space in calu Asha. On the space, every week we're talking money, the economy, and of course pastal finance. This week we're talking real estate, so I hope we can't talk real estate. And Guy invited a word to talk to us about real estate. It's an interesting as a class real estate because it's one class that gives you security and also gives you income. So if you get real estate, if you buy the house, the house appreciates.

He set me unlessay is having.

Some difficulty logging in, So I have a bit of Latin time. So if you can log in, we're gonna talk to something else. Guys, I apologize, but we'll see how it goes. So just by way of information or should it just just by way of comparison?

I looked at the when let me put this way.

When you buy real estate and you want to compare, and you say should I buy real estate?

Or should I buy stocks? Or should I buy bonds? I got a question.

A lot of people say, I have ten error? What should I do? Should I buy land? Should I buy property?

And all that.

When you want to compare, you're trying to compare the return on your investment.

That's the first thing, right.

If you want to buy bonds, you want to buy stocks, you want to buy real estate, this has to give you a return. If it's not giving you a return per se, then you really can compare life for like, So, what I mean is you cannot compare is stock paying you a dividend to a piece of land that is not paying you a dividend. Those are two things. It's not because one is a stock and one is a dividend.

Ask Monilo Nigeria. Remember, if you put.

It in equities, which is a stock market, you are going to get an appreciation in the investment should put in?

So the principle, this is simple. What the principle might increase? Right, you might invest fifty million and it's now worth.

Sixty million because of inflation.

But what's the actual return that fifty million is paying you? That's what we're trying to figure out. What's the actual return the fifty million is giving.

Back to you.

If you build a house for fifty million era, the house is worth fifty million next year inflation is worth sixty million.

But what is the rental from the house. That's what we want to figure out as well. So I try to compare.

The rental from the house, and then the dividend yield from the stocks, and even the bond yield from the bond. We are comparing yield and not the valuation per se of the stock. Many times we make that mistake, especially with real estate. We say, if I buy a house, what's fifty million in ten years is worth five hundred million.

So my principle has appreciated. That's fine, But what is the yield?

The yield is the real return that you want to be comparing with. Otherwise it might be shocker better for it to simply put your money in the bank and get the return, because of course you have no cost of maintenance, you have no cost of paying this to the local government or pain that all you have to do is invest and get the money.

That's the difference between.

As a classic comparison, you have to compare the return i e.

The yield it's giving you so question for us.

Now, I look at the market and I ask my computer, what's the highest yielding investment in Niger.

This is the dividend yield.

So if I invested one naira, which companies in Niger would give me the highest return in terms of return not the appreciation in the stock price, but they return to me visa base dividends. Number one was Uba about eleven percent. Number two was Access Bank about ten percent. Number two was then in Bank about nine percent, so banks bank spans. The fourth one was s Fsral.

Sset Investment Trust.

So a real sset investment trust takes your money like the mutual fund and.

Then invests in properties.

So s Fsrail Investment Trust is offering me a return of eight point eight percent eight point eight nine percent. That's the dividend yield it's offering to me eight point eight nine percent. What that means If I invest one hundred naira, I get eight nira eight nine cobo back.

That's what it means.

This is what you want to use to compare with the stalks and the bonds. So you want to ask yourself, if I buy a federal government bond, what's a federal government bond gonna pay me.

If you did a federal.

Goverment savings bond for about two years, you're gonna get buy eleven percent. So you can see just off the bat with no risk feller goverment savings bond compared to relative investments and making more.

Money in the federal government bond.

But the federal goment bond is only two years, the Silians bond only two years. After two years, what happens? And number two, I really don't have any principalwer appreciation. I am not buying anything. I'm buying a house that would appreciate. But in this bond, I'm putting my principal down and I'm getting the rictory tone on it. But I want you guys to find what I'm doing here. You are looking at the yield, and your yield is what you make as a fraction of what you invested.

Giving you less than what the federal government will pay you if you invest in the bond, then quote unquote, you are losing money because you should not get anything less than what the federal commute is the risk free rates in nigerioras is to the point because the federal government is risk free, risk free, and then you are taking the risk to buy property.

But when you buy property.

You should get at least what the federal going is going to pay you because that's the risk prey rate.

The property tenant should pay you more than that to make your returns higher.

But it's a difficult thing to talk about. So that's why I brought an expert in here.

Devo non devo. For more than ten years, I've been a customer. Also because a friend and I think it's been that space. It's very hard to get put that in that space consistently that come and talk to us a barrow. I brought him in here this week to talk to us about relatives have a lot of topics.

We're gonna cover devo.

If you're here, you're not on mute, hit that on mute button, Go ahead and introduce yourself. Done the little talk on the yields setting the stage up. Go ahead, So.

Thank you very much, Thank you very much, and.

Glad to be here.

Thank you for giving me.

It's a pleasure.

And yeah, good day to everyone on this space.

I'm sure that we are enjoying into various parts of the ward.

Wherever you are in this could be excellent. But who are you? Let's get to know you. Who are you, what you do? How long have you done it?

Okay?

Great?

So my head is staple at the journey.

Trained as an agric engineer University of Learning, nineteen.

Ninety four, told have in nineteenninetyeople for us who strike ninety served in the dugue and then started my banking career in nineteen ninety six. Wanted the bank.

For eight years, I was in an equity bank which later joined with Go acquired by Intercontinental and then Kasnaga later goes to a bass So then left for Fortune Bank.

Was one of the founding members of.

Fortune Bank middle management.

Level and I exited banking in two thousand and four to set up my real estate spreneurship career in two thousand and five. So what led me into real estate was that my last three years in the banking sector, I was moved to market.

In my first five years was in operation.

So real estate was part of the portfolio I was managing and another to write credit, you have to do research and all of that, and all of that open being up to the world of real estate.

I got who done it?

I guess and I have now recovered saying so I've been into doing the real estate spaces.

Two thousand and.

Five as an entrepreneur, started Relative Point Limited with a few investors.

We are leveled in number.

And we were sat together today.

Company, by the grace of God, has been in existence for almost twenty years.

Now.

Next year we'll be celebrating our twenty eight year business. And yeah, we started from the low bodget transactions and then we moved on our cross the space. We now do development, proper development as well as the full skill development we also do. We have not left the low bod yet. We just you know, continue to as to what we do. We are very strong on learning and

In some sense, using very.

Dynamic innovative instruments to ensure that people can invest.

In real estate.

Attend.

Our own drive is really to democratize rel essay, that is, for what they want. So our target market usually includes the low head.

That is not to say that we don't.

Deal with the igh head, but we usually have low and.

We do in our institution in most of our produce.

So that's the not.

Yeah.

Emb in marketing and then attended the Love Years two thousand and tender as well.

MP fourteen don't business and we do business both in Nigeria and in the UK.

We've done to buy before we've got our fingers points with, but we actually do business in Aginia.

And the UK.

Presenting us a song that is interesting to us, are study.

In that creating maybe alliance series and connections that they enabled us to that.

So that's well, that's a nice one.

You mentioned all those banks, Fortune and Oppro back memories in Nigeria and the gen Z guys will follow all those banks.

That we had used to have in the past. You know.

Interesting, Yeah, and nearly twenty years in the business coruessations that that's a milestone.

For you in Nigeria. Did you know table that the average age of a Nigerian startup is two years?

Did you know that I saw that that's a point so where the average age of Nigerian startup is two years?

Well, okay, I don't know it's two years.

But I know that it lost five years.

Do you know why it's two years there? Do you know why why it was around two years? Do you know why? Big?

Because you paid two years rent in Nigeria, So when the rent expire, that's when it actually dies and my die in six months, but that's two years rent to expires, the business has to close down formally, so many does just die in one month, three months, seven months?

Or what's that?

Your rent has inspired your take down? Your sign post that we say a well business? Very interesting, very interesting? All right, that let's get right into it right. Lots of folks are listening in the totalisted what's the overall real estate? You know, opportunity or sense what's the market doing? If you can take us through Nigeria, you know, what's the market? What what's the market looking like now? I mean we have have high interest rates from the Central

So the real estate market is quite interesting in Nigeria. It can be very healthy and also can be very problematic.

And that's why I encourage you and I also.

Like what you're doing.

People need to get acknowledged before they go into any investment essent echever one.

So what overall if you're doing play real esses knowledge, it's very interesting.

And yes, it's still it's still.

An assets has to really look at and it's still very very very very.

Profitable when it comes to investment.

Especially where you are still at.

The appreciation you know, growth investment schange m hm.

And by that you mean you're a very young you're a young guy that has a lot of death, they very low income and in the stage of your life.

Exactly exactly real estage is still one of asset class you should invest.

And that is primarily because so I heard you talk about the treasure. That's primarily because you don't have time for a precision to read.

Kicking and kicking very well. If you, if you, if you put the right.

Properties okay at their a stage, okay, you have enough time for.

A precision to kick in.

And I take, for example, there's a property in a Budja that.

Suited for five million mira in whenever Songier was doing privatizing. I mean it's a private you know, and the ready way selling for the governments and monetization, and it was also post called if I if I, if I'm correct, you know, so some.

People bought that property, that particular property.

For five million there as our last year.

I don't know the value as our last year. When I had something.

To do with that property in October last year, I was going for a warm fifteen million.

Wow. Wow, yeah, it was going for fifteen million.

But this is a two thousand.

And five and two and twenty three as eighteen years.

I couldn't get what it did all through the years.

But I figured looking at the market data that the property would have climbed in terms of appreciation.

Particularly post code, because.

Property values are in some cases tree put between twenty nineteen and now.

Would you say, would you say that in Nira is it dollar appreciation tripling or is it.

Like the scarcity of properties to the person's gone up?

What's driving the appreciation of property in Nigeria?

Okay? Major?

You know? For properties, it's really reacts to inflation. Major you know, so it helps to hedge.

Against and that is that is?

That is what I would say is the major is the major using for me?

Uh, nothing more than that.

It's just the market forces of majors.

Our inflation has been crazy for school. So does this come across all cities in Nigeria?

If I had property in Abba or Calamba or you'll be would it still rise to this high inflation rate or is it just yeah, they're still done for me?

Okay?

So the prominent cities very pronounced in Legos, is there in some degree a Bouja? And then important cause don't you feel this more? In Legos?

These are legal stata.

I means, for example, recorded the highest you.

Know, in terms of apprecision in this period. And I think.

Beta has it that last year in low Lita has it that would.

Be dip twelve percent in one year.

Represent Why is it because the bridge why good is at the beside the Jata.

It's next to tell the land bridge. It's not like it connects to everywhere.

Yeah, Google connected everywhere and then we do one side of Google.

I'm talking about it.

The beauty. That's the one that different to watch and.

That beauty of area. We are very nice properties there.

Gr gr is in very prominent into the place.

There and like the criminal a cream place, one of.

The best places of the mainland, you know. And proximity, like you've mentioned, also makes it a very interesting place that people want to stay. Talk about airport opportunity to that, talk about that's pontimuity to me. Talk about the mail and that's oportunity because you can get out and get it into Googo uh straight into the out of mainland or streets on your way.

To the island, you know.

So and then airport is just still through us into where so that makes it and of course it's.

Duty of the area.

So it's the development that is available there as it were, you know, so that's demand is high more of that. So the verses of inflation, and then of course demand as well, discussing supply.

So lets legs is fantastic. Let's let's find legosy away. What other city is there opportunities in Nigeria? If I'm listening, I'm a Nigerian guy. I want to invest in something short lived? What's that's just five legos to five?

The same?

Short lived?

Particularly no just investment in form I can give me, like you said, rental or the opposition will be there to be rental. What are the good opportunities we are the floridas in in Nigeria, Well, the glory.

There and let's be because and then a.

Bit of potal courts.

But because of the political I would see.

To in portal courts to our next day. It has also retarded the growth in case you know, I said that it's flacing one challenge or in could is constant challenge. They went is left weekends challenge you know. So that's also created the mun security, the oil bound creat and also all of that has.

Someffect because a lot of I think towards sometimes between twenty twenty nineteen and twenty twenty one, a lot of people migrated from what I could have located during.

The security and all of that.

So I would say that this is how we classify these cities begus if recording the city okayja.

Okay, and you can follow it up with the.

Likes of what our course I didn't.

Can start taking maybe a quiemble okay.

Acquirement was also doing relatively well using is the normal industries moving over.

There in landscape is beautiful and infrastructure wise, it is talking much as twenty So it's witnessing lots of fun dimaging investments, especially along the line of manufacturing to dog shown processing and stuff like that.

So it's causing some activities in space there.

Then you start talking about like the panor of this.

World and maybe so those are the places that I would see people can look at.

But I would still say, if you have the option and if you.

Can afford to, maybe you just want to share the investment.

And Legos and aber What about the twenty when in the US they have called tri cities. You have the Ogon state Legos access, you have the Nasara Bucher access, you have the bar Prota access. Is there any trend to say if I go to Ogon, I did the Legos demand robs off on me and I'm able to get the same return, but in an organ state. Same thing with Nasarawa, same thing with a bar to protacon. Is there any any manage in that conversation.

Yeah, thank you very much.

So the these settlements in the fringes.

Of town, okay, yes, where you talking about legos for example, if you're talking about the.

Movies of those worlds.

The back forward the I mean, I I mean.

More way of further that acts.

Yes, it's already enjoying beligous robin off.

Well, not exactly the same rate. It's just that exact.

Places that where you show yourself likely based on maybe comptter activities and stuff and information, it would be the right time now, and so someone in firstructure would help despike that results and very appreciable.

Good in terms of appreciation.

Then so the end.

Is legals.

But then there's the.

General side that is bout around that eparancy. So that also starts to enjoy legos also who stay goodment, have the first sights then do.

The road you know, almost like yeah it is not because we can compare to because of the respects. But then with good standards rode that who can es came to be able to and con fee and stuff like that.

So that also has caused some business and appositions.

In that area.

And then that agree well, but that did.

As it then es actually talking about, but that is only enjoining what he does can do. But then on that axis of that bad bad so in still as well, So that area also kind of because is also kind of robbing of that.

Yes, so what you're saying exist.

I can imagine that for our back and the product of Abia because of what is happening, has also started to.

See some appreciation and some interest in.

Real estate as a tures.

Of course, the areas of this world my.

On the other side.

Areas of joy.

Yeah, I mean, I remember when I went to Caliber.

I took going to Calaba in August a long time ago, in August, and I know, I asked the hotel guy if I could book a room then in August for like December, I look for the Cannibal. The guy told me from November there's nothing available in Calaba, not just the hotels.

Before this was before there was Airbnb. He was like, people will even give their house house in Calaba the.

Residents And then they're sort of like maybe moved somewhere else off the street because they give their house homes off the streets and then they moved for for that one month period of December. So why bringing calabic That is there a correlation between when the state government invest in infrastructure. Again, the example of aquair Bum I used to be in. I went to aqui Bum when they had the governor, not not the Senate president.

They one before.

I think it was David.

I don't always name was the guy before the current Senate president. I went to Aquaibum when the guy was the governor.

And I'm not kidding. I was not in an Aquaibum. This senate.

Yeah something I got his name, This current certain president. I mean, I don't like the guys the way he has run the Senate, but that guy did wanders in Aquaibum, and I mean, if you haven't gone to Aquaibum, you should go. You'll be amazed. I mean when I was there, they build this on the ground drainage. It used to be flooded. Now they build this thing that was burger.

They build this thing. You know, it's range. You don't see any rain. It's a masterpiece in they used the oil money well in that place.

So my question is is there the correlation you would see within infrastructure and the price of land.

Gombe State is the estates in Nigeria.

Accordingly data from doing Basic Nigeria to do business in Nigeria, Gumbe has invested a lot in recoglations in laws. But I don't hear anyone say I'm going to invest a factory in Gumby.

But Legos. They talk about Abara. The road to Abara is shambles.

But everybody is going to I mean what I mean everybody multinational. There's Nestle, there is Guinness are out there. So what is the role of infrastructure in this no prastructure? Does my land price go up?

That's my question? Yes?

I mean other said when you say when infrastructure come sing doesn't impact the prices of properties one hundred percent?

Because does no doubt about that all across the country.

I mean within sound, outside of town into states where infrastructure comes from girl imparts of properties enumus for example, the access you.

Know, since this project, since I s excited, went back how.

Many years it was starting from where I was that I think.

Around that you remember it probably still around at the time when it sided.

From an other mobile in the d Miracle, you know, that was where.

I decided this would put it and his still future, you know, but it continues to impact and the world of descending.

The mobile and all about that road, you know.

Just down to.

Toy face one and then all and it's since then it has impacted I imagine. I can remember what I did to lay face wrong when I when I when I difirst culture in first culture started and till today it's still what is causing.

The kind of opposition that we're we missing on that access to.

You know more, you know, so that's.

That's in then.

I remember when Legos in Battle God's improved eventually after a normal at tense right from Barbela kings that believing and then that sc a lot of those, but I mean all of that usually consist what weekend is doing now in a Bouja.

You know. It's also just like starting to tell on prizes.

Or properties create too.

I mean I was in a Buja Thursday and Friday.

For my program and I had like about a one hundred.

Really simplayers in the room for our seminar.

And you ter us in Nigeria, Unnary, it's bad.

That's true because terd an address about two point five cents.

Okay, thev that was my next topic to you to ask you now about it because if I'm an investor, I live in America, I have dollars in America.

Dollars in America is paying me today today?

Is paying me anywhere from two percent to five percent in America. If I take that all out and I converted to I get about so one six, so I make some good NIRA and I invest in the propertect. Then you are telling me the rental year. Is it broken down by state state? Or let's start with this, which is better for rental? Is it going to be commercial or residential?

Commercial? Commercial? What kind of commercial?

Stable as residential? So you make the better greater you, but then the.

Risk of void is also there.

The vote is more than.

Longer that residential. Okay, what what does BOYD mean vacancy? The period we experience an empty competition when.

Police and get another When you say commercial, are you invent to shopping more students, accommodation or what is just?

Because just inten to residential and combacial, So it includes anything that is commercial. If you talk about retail malls, you talk about hospitality a lot of those.

You get more retors with commercial property.

But if you're not breaking down even within the commercial space, and you see retail malls, hopitality.

Of the ready, I don't know those are those.

Are in factories, warehouses are My friend does students accommodation?

Okay, well you.

So, okay, So we do that accommodation.

Once you have patients capital and you can mitigate the risk of.

Maybe of course vandalization with insurance, and then the risk of strike, especially if you're dealing.

With governments and institutions, by making sure that you tie your rainter to the year.

It's not the academical leader. Okay.

Once you can do all of that, the returns are good.

It's just that in most cases the places are saturated.

Okay, but let's go back to your point.

So if you go back to your your commandment about the rental you so on the average is you study about two it's about.

Two point five thirty percent.

However, that is that's excluding the lots of areas. So lots of area you can conveniently get.

Five percent in legos or pots.

But I was amazed to be here that in a bog in my timer, for example, you could more easily get ten percent.

You can get a percent in legos as well, but it's.

Not really good to be guys or Yeah, I understand that.

You could more easily get empercent, especially with my term areas.

You can get a property for a nine hundred millions.

Are you're able to rent out for nineteen million? Param Yeah, However.

What people are then using to meeting to let me put.

Let me say to put the aid of steroid when it comes to renter you, it's short legs, its service apartments.

You know, that's what people are using.

And if you get it right in certain places all through the year, you would average out at a very good retib.

But if you also don't properly choose your location at all, it could be placer that you have leader she had.

The apartment or Joe try traditional.

Rator other than.

Because when you say ten percent stable, let's pick that down for people. So if I take one hundred million NIRA and I build a twin duplex, I stay in one, I rite rent out on four bedroom duplex, marmal normal standard legos one in say Soulary what's the renting soulary for that? For four bedroom duplex? Four bedroom d what's the renting scelary.

Bedroom duplex?

Bent in sou liary.

Maybe today you may be look at us, depending on where.

It is at the age, maybe between five and it's made. So even if we take so that's the thing.

So even if we took that five and eight, not even ten million, which nobody would pay you insulary, it's still below ten percent.

This is the point that the rental youth. Yeah, when you when you lead drill down, it's not a lot because if I take that money, I said this, Yeah, I hear you.

Yeah yeah, So so then you made you made the point of patients capital with me. This is the money that I have that I can afford to invest and wait for say ten years or so. Is patient's capital. If I have patients capital, means I'm not paying back interest. Maybe I have ten thousand dollars, I'm not paying back interest. But it makes a difference if it's money. If I work in the bank, my bank gave me loan. I build this duplex, it's four hundred million.

I stay in one. The guy paid me five million. Don't that make a difference. This is what I tell yers.

I believe there's a lot of them already.

Some of them they've experienced it, so goes in their figures. You really don't invest here, please triply a terms.

It doesn't make it instance, oh it in properties that guy, it doesn't make sense.

Reas is like you said, if you change your.

Ten thousand dollars that you got good money right there, fine, then you combat and invest.

By the time you have you want to read your money, you know, and the combative battle dollar.

You're looking for, you principal.

So it's so if I have money that I would like to invest in nature realisty, I'm putting to nature and I'm leaving to night exactly.

So I tell people the reason why you're universted that you have most so maybe you're coming back.

So as we are trying to give your assets.

There, or you have a strategy that the money you used to sort that you.

Are probably going to raise it for my gae. You have someone that get very good maybe just getting property.

There, putting into a short letter, putting money.

Back when I need to sort anything, that's how.

I do that.

I know that certain or there has to be worried, or you have to do something for your family, for your.

Parents and their parents or your brothers or whatever.

That's it.

Is it that you're coming back, you're building the business, or you want to sorting that magia and you just have to pay back some family members and stuff like that, doesn't.

There are lots of guys want to talk, and I know we just up to down open the space off. I think my last question was going to be on title, but let's keep that. Let's get the guys into talk and ask questions. Have maybe they have better questions and I I'm gonna add and I've got real real guru energy go first, and I'll get and I'm just gonna go under line. So really good to go to the floor their boys here, what's your question?

Real guru?

Go ahead, or if he's still getting it, let's get let's get ernest andests go ahead, and next, what's your mind?

You guess your question to speak, but they're not available. Let's get oh cor tai wo, oh coy tai wo. Yes, I can tell you, go ahead.

Thank you, mister cal appreciate what you're doing.

Are you appreciated? And thank you for making me speaker this day on this.

Platform, I hand on the order because said I'm I will not be I think I.

Read to the next part and then to that.

Time the end of continued real estate completely legal.

So I won't really talk much about what he has said. I feel said lot and the deal that lo Yeah, a lot of speaker want to talk as well. But what what I want to speak about me is the place of.

Because I look at.

Opportunities, they're looking at the best, best partices. So what I want to talk about is the of tech in real estates.

And I think that.

That is what that's that I've not been adapted and fortunately see you all right, all right, I.

Guess you guys you don't mind. Yeah, let me get the tech. Go ahead. Ox you've got the floor from here, problem, Yeah, go ahead. Thank you for this opportunation to this position. So who wants I want to sort of answer.

The question which is a lot it's not the real estate, not the you know.

The incle or whatever can be better.

I wanted them or to speak.

To profession which.

Professional profession of real estate in terms of documents and all of.

That all that. Yes, that's what I'm define. I'm talking about so title.

Particularity in some places I know some states where I know, I don't want to mention it because so that people will not speak of people that are intend to do legacy protagram that because.

I know some states I experience if you haven't tied to they look at your name before they signed.

They look at your name, your name before they if you're applying for.

Or you applying for there's something that goes into it. They look at your name before.

So easy to say that is perfet what what what?

What? What?

People? Yes, it might be positive with some people.

You get your access at bombs because most of these are Yeah.

Actually, let I know what you're going to with this, but I want to if you to focus on the on the business side of this, the equations the one I did work an answer, they can answer into the title or like all that stuff.

I get you, right, But I was gonna ask.

Him more titling like if I'm a how can I what's the process for the legal to title propert.

I wasn't ask him.

I don't want to get to speak so trying to ask you what he can I was like, he's just the guy, you know, like you on there so yeah, you want to rephrase that, fine.

Fine, okay, what what I wokay with not just participate, But so what I would say is just like they are missed on.

I don't know how I'm much about aware of River Stage called real estate, the place where I played. I played in the past.

Of course, sue River State in the past, and unfortunately at the time, I really like, I don't know, and so what have I made from that?

Not much? Not much, you know, So I don't know what I have experience with River States.

I don't know what I have experience with.

This is like the stage.

Because we've talked so much from Legos, I think of my gage is it is, you know, it's.

I don't know how.

I don't know how people can to steal, you.

Know, exact from Legos because it is basically saturated.

So I don't know the prospects.

Outside of Legos, labor stage, the out stage.

Moving down to your states.

People say that all your space is portable.

That's a big real estate.

Maybe you can issue as players outside of Legos. But I go from there are some real estate companies that play not just Legos. They use, they use they're trying to get legoss to invest outside of legos.

Yet people legos and they get them to be maybe.

In your stage or even even in the subspace, even when they are visits or so, I don't know whether.

They are prospects for those kinds of let's talk. Let's talk about I hear you, but again, people to hear about how to make money.

I don't think most work here if legos are gonna make money, panny here about legos that way. Yeah, so, but I think general sentiment is more or less to say. I was going to lift titling to the end, so you can call it those typing. Let me just get a few other speakers. Let me get Joshua, josh what's your what's your take?

All right?

Thank you so much.

That managers a question, mister dimbo.

I was going to find out because my day that had it promptly somewhere around just.

After your number.

The propt in there now is about two plots of land.

There's a little structure in it. It's been there for over five years.

Nothing has been done, and for.

Us we don't have the financial progress to be able to use at any you know, structure you know, and the time value of money and the promptly just ed.

So I don't know if there's will gets a joint.

Venture agreement, because each time if you got the you know, real estate, there is a companion. I know that. I pushed down to the kid telling me that place is you know, it's a bit of the investors are not really interested. So what what's your advice for for us? Thank you?

So I think I would said DM devil, and maybe he will have the DM devil. There was that work for you if you can do DM you okay, So where were.

Men I didn't wanted? I apologize, I apologize, lease, go ahead, okay, thank you. So I have four questions. I'll just get your okay, yeah, I'll be glad you can.

Run with them.

So the first is do you suggest to build or to buy?

I'm talking about property in legos now and of course most of the areas in.

Legals, all the ad land right now, talking out.

Towards if you given my meanings, so but you so there's in terms of profitability to build up to the second thing is that having conversations around land for farming in places like all your and all do you think I mean, I'm I'm pretty worried about, you know, in.

Secularity and other works. But do you think that's profitable? I think it's also good for us as a lasion to begins to farm. But what are the long term short term implications are going? Certainly, what areas you use the best for a B and B legos At the moment, I'm I'm maybe worried that might become quite satiated. But what would be helpful? And the last one mortgage? Please the mortgage work? And how can really I can re enter into.

Mortgage for profitability right now and I do what's working from thank you?

Excellent questions very so can I go on that? Yeah, yeah, go for it? And this outside of.

No, I'm hearing like us okay, great, I just.

Think that that's to be able to answer, uhcol.

What is the number one? I share the questions on? So, I'm not sure if you're hearing.

Structure, Yes, that all means explod beauty because you will be able to see it because and be able to have your taste. But if you don't have competencies around construction on you, I'm not.

Sure if it's me. But when I think it's cutting off and you hear him now cutting off in manage people that the woman, Yeah, they were can you start?

Can you start from yeah, start from the very top, because I know you're cut off the first time, and it was just me, can you.

Start the top? Yeah? The first question is built of bye yeah.

Yeah.

So I said for beauty by what I normally can't sell people, we got you. That is depending on.

What competencies you have. If you have competencies, are long.

Construction line by all means explod building, because then you'll be able to save costs and be able to have your design, your taste and stuffs like that.

But if you don't have any, if all you have is just that you have time, you know you can go to such you have time, I would say that seriously.

We consider that because the place that in counters and advantage in terms of being be able to save because that watching water and now you may not adventually get it because a lot of gimings are played in that in the contracting or construction of iniding space. Okay, and a lot of people who want to build thinking that they save when they end up spending much more than if they are boats. Then where you want to buy you can easily structure finners okay, for your purchases.

You can lease all.

Your available purchases, and structural in finels can be not easier, particularly if you select.

Your developer careful.

Okay.

So that's what I would say.

Wegets in there, then learn from family, depending on how.

This family transactional structure.

Or if you're a farmer.

So if you're a farmer and somebody's doing family in.

The estate and says, come and buy my land and then you can family, that's fine.

But what I hear most of them do is you can we will find for you, okay, and then you get to search buses.

Hey, I read a Rican gineer. If there is any.

Delicate professional in the world, I mean across the globe in this family.

And that's why in most developed clients.

They put some warn insurance and they almost like some guarante pur Jesus. The government replied of stocks and a lot of buses. Or in Nigeria, when I've come to realize is that you're not careful with your family.

You don't know what you're doing very well.

Even your success would be a play for you, as in if you have very good youth, you then have markets.

That will be built in the market, there are things.

Will be able to sell, and so it does. And then the other thing is that you gonna have diseases. You gotta have a lot of flow points.

Cows can come into your side and all of those couches, and so you want you only find a have this structure.

Or if you're a farmer, okay, if they're going to farm for.

You, I would say they risks too much.

Okay, they risk is too much.

But if you're a found you just want to buy from them, and they're not pretty your fan, you want to preach your family.

They are fine, fantastic since you understand what you're going to be doing. You're going to be doing, you.

Know better because a lot of these abils have common in pat That's what I'm saying, because you run into some of these kinds a lot of times and you can't get to promise to people and.

Basically double the devil real quick.

So for her, now she's asking, is it actually an investment work continued to buy the land and leave out to a farmer, or she should buy the land and farm on her own.

In fact, maybe ask that on her. You have what is what is it the trend there.

It's better she wants to farm her own that will be buying it and listened out to a farmer.

When we talked on that is like I said, I mean then she rested you is not even much.

We talked about it.

So now okay, so family.

Family is poorer in terms of you rating your land. Yeah, you just use this for the strategy when people give their land to farmers in Nigeria need jo.

A strategy to that. Okay, you will get to much. But if you want to buy the land madefore, if you looked at.

The future and you think that they're speculating the displace would really.

Be something in the future.

And to use farming as as a security strategy pleaseholder.

And again just a just a general point.

If someone comes to you and says I want you to invest in my farm and I'm going to give you a guaranteed rate of return, you are You are no longer invest in the farm.

You are investing in a bond, no longer a firm, not just in a farm.

Any point that promises you a fixed rate of return to do farming, or to do crypto, or to do property is no longer that it's a fixed rate of return. So what you want to do is you're not compare that return with the risk free rates, which is the rate that you would get if you boss a federal government savings bond. If the federal government savings bond is paying you more, you don't invest in that or that adventure because once it's a promise, it's a bond.

It's no longer an investment of profit, and lost promise.

Makes it a bond, so it has to have a higher return him bond.

Just put that out there. So the question towards let me see, Okay, I would yes, a mortgage, but before I go into that, let me go right or what he does you know beyond just.

That return should be higher than whatevere way desire.

Find should be higher you you if it is a private.

Bond that is not.

Regulated, the risk is.

A lot higher.

And you want to really be careful because I can promise you ever than earth.

But you have access to my books, you know how able to make it when you give me that money different to.

It is huge in fact or you know about people are just not doing punts. So the only way be able to pick last year as God orders.

Returned this year is because there are French people coming into it take those of us, you know, so you want to be really careful.

I know that you're taking a huge risk and may not come back. So that's the mortgage. Never before that you asked what area for AIRBMB the best location?

Okay, yeah, sobm B in legos.

Rights v I that goes with us saying you know, lacky.

Face one, maybe a to Catta.

These are places that you are sure off. Okay.

Then of course one is inclusive, back view is inclusive, BECO is inclusive.

Island inclusive. A little bit of that is having quite largely now okay, and with the few residential structures already there. So that is that on the island, by the time you start to go.

To areas I shall go to, it becomes very essentially operating the kind of NB that allows for parties, allows for artists to come and use a place.

To uh to move movies.

You know a lot of that set settings and movie sets.

And a lot of those.

So because very dies, okay, but if you're.

Close to some let's say, hospitality facilities that are really very good pitches and it can help.

But the areas that you can be sure on the other those.

Are those are mentioned.

Then come to the mainland. The lives of shiba estates. My god, Monia estate is also not bad. Okay.

These are areas that you can but I wasn't.

I wasn't look good at a wild back it's field.

It's field.

It's no that that that was?

That was a very y high end residential. Please they manage their homes and build three bedrooms and yeah, yes, good, I just left that escape to guess as well. So far so yeah. On the bridge, yes, yeah, vibotamal fantastic, you know.

So those areas okay. Then the last question was on the mortgage, and go ahead mortgage okay.

So on mortgage, you want to explore.

If I employed, whether you want to explore.

A combination or you want to talk to broadcaster can give you a combination. So maybe if you use your NHS ensure that.

They can let you get your five percent of your say that's your retirement is okay.

Because and then maybe they can gang any mouse really okay because ordinarily they amgial mortgage is available or e goal for market brands where the rates are.

High, very very high. So he won't.

I think they over around twenty five percent of us right now as we speak, so you can imagine what sort of morget that is.

Okay, boards I also I'm also.

Aware of some lads that also does you can.

Almost pseudo mortgage. Okay, it's a reads.

But what they do what they give out.

His mortgage as in twenty to buy.

Properties and they pare themselves to be given very good interature. I really can do like fifteen percents. That also is you can private chap if you want to explore that. They also have facilities to be able to fifty fifty review that is cool a ship they buy you to any propertify said to bership if you say if you can, if you can pied or okay, and then ten years they have to exist.

Can buy them back, back them out or they will sell.

The property and then you can share fifty fifty.

So that's what you get when it comes to but it's still very much.

Possible depending on what you do.

Any Okay, they're out.

Gold you have that with that effect, Yeah, and just develm just also make this point again in terms of mortgages through so the actual fact is that there are no mortgages in Nigeria. Like how we look at traditional long term siblings for homes, we don't have mortgage in Nigia. What we have are loans to buy a house. It's

You know, you get a credit.

Scoring, then you can get a ten year fixed or adjustable rate mortgage.

Your income is there. You own the home, it's in your name. There's the title given to you which you can sell and make equity. We don't have it in Nigeria.

So in Nigia we have You have to buy the land, then you have to develop the land. So does that too, You know that we seplay both of them.

Most people buy the land with their own funds, then go out and get a loan to perhaps to definishing when it's about to rent out.

But you're going to have to use your own funds to develop the land. Why it takes time. It has to be patient's capital. If unless I think like they say a commercial ab and b in say in lucky phase one, where you can borrow money from a bank for two years, build it, rent out, and make it returns back from rental. If you are building your own personal home, the way we do it, there is no you know, is that you buy the land and other years you put.

Foundation, then you put one wall, then you roof it.

They pay you upfront, you buy, they pay you up fronts, you buy the bathrooms like that.

Still you get to the state.

Where your home is like like ready to be you say commissioned. Then you can then take a short term loan maybe for a year, paint the house, buy the fittings, and move in or rent out. But you won't be aware out there.

Now we have the too, like double said, twenty five percent of your retirement service accounts can be used towards.

A mortgage, so the PFL would pay the mortgage guide.

So put that that one.

I think it's more sure than live on the NHF. I apply for NGF since two thousand and three, I have file number. I don't have the money yet, so I know that I know people get this faster, but I love I'm not being chasing it. But I'm just giving you the facts after the many times.

So RSA very very important.

Your own company would have a loan scheme that's usually a cheaper than they've commercial banks. So go to your company, go to your RS, go to your comparative, go to family and friends before you borrow money.

To buy a house.

And again in Nigeria today, if you are building single single family home, you're on a long tin. Dobble will tell you're on a long tam. You must build a home even they'll pay you one hundred k a year and this you pay the STV that money.

You have to build at least.

Something you can rent out what I say in law b Q or something you can monetize.

That place is very very important. And last one, devil, you're my witness.

Again, I went to this estate, and you go to ecoig, you go to v I, you go to go you see but massive seven bedroom homes built by folks that have now retired and their kids have gone to America.

Those homes are empty.

So it's a pointer that NIJI don't do this. You retire, you move to Florida, you buy your home, you live your home. Most of dead capital in this big city that a single family. They've been there several dead rooms. So think of the future. If you have five kids, those kids are not going to come and live with you when they getgger.

They're gonna have their own lives. So think of your plan. B.

This home is all I'm building this home for now and when I retire, I'm going to move to this space in Legos.

While living in VII and equal is very expensive.

That's the crew do there, but gain there's but if we think like that, it might make rents come down.

There's no point living in v I if you're not working. It's so expensive. I mean just to get your land use do the shops and all that. We live in a Kordu or but di Greve or Orgun or more where it's very cheaper for you.

Right, So maybe we need to take you like that. But when we want and if you if you got your answer deb was when you you're.

Good, Yes, I'm blue, and thank you somebody.

It was quite detailed and a lot of question.

I don't have a baldy A B and B.

I know that there are ruled around so su letting apartments.

So if you have an apartment in the building and you want to do a B and B sort of a legal implications or does it have to be your own full property.

From top to bottom? He said, So can you come again? Oh so I was asking that.

I know that I ruled around pub lifting apartments.

So if you had an apartment building and you want to do.

An FBN meeting and then not implications or do you have to own the whole property from top to bottom?

Okay, so with dependents if you are the owner of the property, only if it is one apartment happening in block or flats, it's yours.

If you are the one that has the time to police, so.

You can actually use it for whatever, except there is any rule in that environment, maybe in that compound, in that.

Environment that says that brings are not allowed.

So if the exactly reustration that, you may not be able to do that.

But if you are renting a property to do their B and B, you would have found out pas before doing the weather.

It is something that is liable.

Most of our laws would found out giving you their properties for you to do short lege or service a patents with.

But there are ways to go go about that, and the presentation.

So they arrange us corporate tenants as its way to be able to build that whatever. But then you also expected to ensure that you do good job of managing the property very well.

So that exists. But just a rider with what have you said on the mortgage is.

That now you do.

In Asia, they are developers who built and they work with mortgage bands.

I understand and I totally agree with other. Due to our rate and process we carrently cover. We have mortgage.

But there are beauty properties that you can borrow money to buy rather than just building your So that's an aduction as well.

And you can also use that.

That's what I said I do, so you can because you need to raise if the properties of the reason you might raise.

Maybe twenty twenty what do all or this other needs?

And they just got to gotcha? Gotcha. I don't forget what it's gonna come out of the title. I just want to go together, guys. I'm a tire way.

More, Thank you so much. I'm you've got the floor. Thank yeah, I'm more tire than Pilgrim.

I'm out.

I'm going once what I'm doing twice? Hey, pill Grim? Are you going? I'm gone, you go ahead, yeah, go ahead, believing.

Yeah wa, it's a nice face look up here, and I love to actually listen so interesting.

Topics as this, especially starting the country.

So however, you were call by talking about bond as against maybe just trying to wave the options. So talking about the I was asking for them. When you buy property, don't confuse the appreciation in the value to the diffidend yield. You have to compare diffidend yield the property to the dividend or cook on the years of the bond, and then there's the dividend years of the stock. So we yield to yield, not value to yield.

That's the point I was making.

Oh, I get your point of what in my own way, I believe, let's.

Pains time frame.

You your home, let's say ten million are now and okay, want to buy real estates or buy bounds.

We give on your bond.

Most of the time a n is just your your your dividends and.

Back actually broth as okay what mister Gable.

Said all the time where you steady able optics and some people both in twousand and five for five.

Million and they want so if.

You're looking at yield I think it's the one cable.

Let's say you have access to.

Shoot some amlit fonts that is and okay those have ancestor they meant to.

Make for awn a period of time and just over the bent. But you're looking at we found like value worth appreciation.

So to say I still feel let's says, of course it no, you're.

You're making the same you're making. It's because of your your comment. That's why I made sure I made that clarity at the very bad beginning. If you are an investor, you are looking at yield return. The asset appreciation is not the same as the yield. Remember that if the property is worth a one hundred million, you have to have had a hunt belong to invest in the same place. So there's going to be an opportunity cost that if you have left that money in the bank. So I've

You making In the end?

You invest to make money, right, so do your return on investment? Your return on assets are still going to be lower.

I'm not debating that.

The property, by inflation, will not go up in price, but you must compare like for like. So if you if we both have a million, and you build property and you get rental or for one hundred thousand, that's ten percent. If I buy a federal government bond to my one million, I'm getting fifteen percent, twenty percent, So over twenty years period, I still make more than you.

Or are you saying you get to have opportunities for the bank because.

Over ten years.

Period the yield of course, yeah, your your yield is your rental yield. You can't look at the value of the property. You have to look at the rental yield. That's the point I'm making. You are comparing the value of the property to to my dividend heel, which is wrong. You have to compare your rental yield to my coupon yield or my dividend yield.

To the point I'm making, so.

You can't.

I'm nottivating it.

The property will not rise two hundred percent, But what's the yield from that two hundred percent? If it's if the property is now two hundred million and the rent is still one million.

It's nothing I get one, so all right, sir. Also, I just need to portray some one for people who are want to try.

So from experience, I've seen some clients and people.

Go into sublett especially for the lead that actually may we want to get into sublets actually, so there are houses.

And the green fast which we.

Have they can house, especially in lind Yeah, this is actually overwhelming.

At the same time, we have eye cot the ranks, so we have people having difficult.

If people with them, especially which is to move home in the country.

So there is an opportunate that I've seen some clients flow. So let's say you have five million all timely iron.

You that you want to do something within the re in real space, So what do you get to do and rate?

You can arrange a.

Place just like the one you've mentioned.

Big these days and I don't and people are not talking a lot of them.

So of course you have to be an agreement with the land so you can ranking on anything you can, so bless.

You can make it into one and make it into the thrones you can. That's on on the land of permission actually, so you get.

Something you can create to do outments, you can create a different.

All. I got you a good points. Let me get Pillo grips. I got Pilogrip and than Shaddy. I'm thanks God, yeah.

Everyone, thank you? What are you? Introduction and.

Resume? I must say I've got a question for you.

My name is Chick reciting in the UK with of course interest and investment in real estate in injury. And my question is for mister DeBow. Going from my own experience, I've fully invested and real estate.

In Nigeria and it's been.

All well relatively until the detail end of the Bohigher administration.

We delivered a bit of the.

Dollar pounds messing up and then ultimately fingers completely burned.

In the last one year, I would say, and my.

Question would be what is first.

Questions?

And first one would be in terms of the devaluation. They've got an experience.

We have properties that are for just tens in two thousand and nineteen twenty twenty twenty two and for one thousand, one hundred pounds two dollars and then they've appreciated.

But today when you look at the factory, you want to bring it back, bring back money here is worthless.

I've got property in a Budja that as a twenty and nineteen was returning back in to the.

UK for me six.

Thousand pounds and they exchange it of about four.

Fifty that's property at two point one million rentags two thousand and nineteen twent thousand and twenty, even with a fifty percent on reasoning that is, I mean, I was advised by the agency.

I didn't want to be what.

Can you do with inflation even at an extra one million, which means property has been invented at three million for two point five two point six for some people. The return has now gone down from about six thousand.

Coming back in twenty nineteen to a.

One thousand and eight to break.

Two thousand pounds today. I repeat, from six thousand.

Pounds in twenty nineteen has two million to about two thousand pounds being returned now at about two point five.

Point six million brand. So it's horrible, It's terrible.

And now I have properties that not just million other people here in the UK and of course firs that please here.

That I know I have a property that is that waschest two today it's unbearable to even me imagine the costs to bring it if.

You want to take back that money, because definitely we changed pounds.

To purchase this property.

And my question to you I had when you were talking about the issue of reinvesting just.

Because of family members, But how do I put in two hundred million and.

Just for family members?

To me? And this easy for me to send.

Them five hundred pounds to please go fiees of people one thousand pounds place betting.

Go to the question so you can look what is the way what do you advise the dear sport?

And with the issue of this devibuation, have we come to the end or have we still at the position were one hundred thousand pounds comes.

In and then today at two thousand and two mumble to a pound and after two months it goes back again to two thousand and five. Can you tell us, the dear sport, we are what is the way forward? Should we be invested at the moment? Should we be by at the moment? Otherwise? Tell us what is the way forward beyond investing.

For family members?

What is the way forward we should we put that money?

The second question of God is on the A, B and B. And my question for you, please, if you have got an experience what a is the future.

Today A B and B from micronsal personal experience, the coast of hosting as has high this guy, okay, with the coast of the electricity that is that they're.

Putting now the patrol and then whatsoever.

It's nearly coming at a part.

With even morels and what the competitiveness is now a problem? So again, what is the future of A B and.

B today with respect to the hyper inflection patrol?

And this I think I think it's.

We want to take that real quick. It's asking I mean, how do you do this? I think it's going back to your talkings about diaspora and person na gener real estate. How do you what's the best practice around? Do you have any tapes for him? And also with the Airbnb, I mean things petrol. I have a guy that has an AIRBM but he tells me petrol takes everything. This just takes the whole profity. So if you take on that, they we're gonna hit it on me.

Oh sorry, okay, sorry, sorry, okay.

Are you planning to come back to Nigeria.

Something?

Just put it? Okay?

Then then I don't think you should be putting money.

Except for social disease.

And I've mentioned earlier, so you probablished and just know that, well, certainly I've invested all of this.

I will focus your investments in other other places for now. It's until we get to a point that maybe the I can be a bit more stable again and you.

Can then look at the situation. But so I take it an investment decision. When you are praise, what's scene you are facing?

Okay, that is importanss truth and that's what I started by saying. That doesn't make any sense in a joint as well to be fasting in that year other than for social reasons beyond you the retails.

That's the truth where we are right now. Okay, on the short legs, I also don't know which location. So it is the I end shortlegs that will survive the costs challenge. We are having a new cost of flowing up eating costs.

That we're having right now.

Okay, I end we have prices can still be moved up, and people have reasons why they are taking and that's why.

You may want to be looking at converting your.

Short letter apartment.

So she had the apartment.

She had The apartment was mentioned, and I think that was what I was also talking about in mentioned you know lockily bed room, you can structure it.

In the way and even this little room can be converted to your room. Depending on difficulty, the.

Love or or if you own the property, you can do that.

I invent the three of the forums are become kitten, just like what they do, what the HMOs in the.

UK, stuff like that.

That's what you may have to do at the moments that would still give you.

I argue next position as to the stooplets, and as you know, in our kind of environment, once you start a line of business.

That people think is being becoming more and more profitable, a lot of loose and free money. You know that people bring guards to them, you know, invest in those things until then.

You saturate the markets, you know, and.

It then becomes challenging for people to start making reasonable So you want to becnsider. You're holding in short let apartment depending on the location, and you probably want to check.

Whether you can switch to here the apartments for now and maybe when to realize better they.

Come back to short That's that's what I would have with somewhere.

Thank you, thank you, you're saying the location of the matters high. If it's in a high end, then the rental, the charge off your little higher cost. Otherwise move on and also don't invest. You cannot says is not coming back this particular reason.

But that's what I'm saying, because it will make sense. You're not coming.

Back if you don't have your family here, that.

Your mandy property for you do have the situations here that usually intotension. I feel that your strategy is solving that will investments in a ja taking.

Care of that.

You know, there's no points.

I hear all right, let's get Sheddy and we'll get Buddy Shady and the body.

Shaddy. Go ahead, Okay, good to everyone, Please come form. You can hear me, Yes, I can, thank you.

I had two questions and the previous speaker just to my tunder And the first one because.

Taking a loan that's low interest ways.

To biprops in Nigeria. When it's time to repatriate and you see the extender, it just crashes everything.

It's really really painful. I know many that have gone another.

So my next question is going to.

Be Canule and the table.

Most of our.

Conversation has been around investing in.

Hyber areas they like they the eyes and that asis. Now we know that top three in those places are very expensive. So I want to look outside of Legos and Central Abuja, for example. Many of us in our localities, what we have there what I call emotional investments.

But if one needs to go and invet in real estates in places that are not so urban in the currents.

Nigeria scenario, is that going to be profitable?

So to be clear, are you saying, like, give me a town. Are you saying Tobe investing in, say Jaws or where are you going to do this? Can you have a town in mind?

It's just LEAs just for an example, mainland just to the higher areas of just now. It's also been priced out of I'm looking from the perspective of someone who's normally bullying in megabox like that, but who wants to start somewhere, so the outskirts of the gay in.

The place like just now. If you put in a building or a.

Group of buildings other than selling for sales they rent, is this long term profitable twenty thirty years?

Yeah, that's no exactly.

To how can it now?

The how can we now defeat this over your.

I then needs to be able to defeat this over your challenge of imploring profitable for years.

It's an imagine market. You know it's going to blow in a furious time.

We don't know how soon.

So we're in the lot of we didn't invest when it was still very greenland.

So what you just know is that you're playing the growth. You're playing this reculatively. Does only that another best hear me?

Yeah? Yeah, you know what you do with parties like.

That is you speculated on the investing you sclate, So you know, playing speculative as expecting any return or to where you catch up, you get your appreciation and principal Yeah, hm, you get what I'm saying.

It just comes to ready that you're going to be getting the government bone is not even wanted.

But then so on that end, you know you're losing speculative majorly because maybe out maybe out typed this because I'm struggling to hear.

So essentially I can help what he's saying. You are speculating. This very you have painted is more a speculative adventure. That's why he's get.

To know.

The most successful business is today.

From speculations and the hits the good or they lost. Okay, that's another way to look at it. Yeah they lost.

So I mean again, it's goes back to this patient's capital thing. You know, instead up by saying you are borrowing. If I had ten thousand dollars and I didn't have to pay interest on it and I didn't have to invest it, oh my god, I'll come to Nigeria. Buy five plots and wait, buy five plots two thousand, five hundred dollars in Nigeria's a lot of money.

By five off off commercial, off the big places and wait.

You know that's the point he's making. If you wait those things to blow up your money. If you can wait and the thing will become nothing.

So it's speculation.

You're not gonna take that money and say, oh, in two to three years I want to go back and pay up my bank in the US.

It's not gonna work for you that.

Way, thank you.

All right, Securities around to realist this, particularies in Nigeria, they are not as secured as with think from everywhere.

There are many ways to investors.

You know, when we start up, we talked about investing the paper itself Like I said, the fault highest pain dividends or paper in Nigeria is relative investment trust.

I think I set off with that. So relatid is a very very wide opportunity.

You can invest in the actual building, you can invest in the paper, you can invest in the reads, the mortgage back security is that many ways to get exploded as the class. So it's don't you got to say that's just if you live abroad? Is I would say, if you're not going to come back to Nigeria, why buy the property. You can't inspect it, you can't fix the toilets and all that. Buy the trust that then invests in that property and then you make it your

That's just that's my take on that. All right, shedy, let's get let's get bad day. Not a body will get dropped off the yeah realiening everybody, really thanks for bringing me up? Yeah, thank you so much study book.

Agree to yeah, from the previous speaker before this last person studible actually answered the question.

I practiced for real estate in Manchuria and as.

Well I worked with.

A commercial consule.

So from actually what he said about someone pulling this phone from a broad Now when we are having stry times, our testimonies from my customers have because I actually targeted on the US and markets have.

A lot of customers that invested in real.

Esday purposes from the United States.

Advised them for now to.

Hold on because from the area comp it's actually nothing.

Based on what the previous steaker said.

Or something actually worked out to twenty twenty two, twenty twenty two October.

You know, if you are to look at developing area, not detailoped area.

Developed area is expensive when if you are to look at developing area. Actually so like seventeen plots at a helicop twenty twenty one and I made the series of eight pups.

Of my atment. I saw the pair at five hundred a pace a pace a pas eight.

Million, twelve twenty one million presently. So this year February, when my one of my customers with actually no concern about the rays. If you don't it both the plot of that in bed for six point five two, I'm still at a five million because it's scars and I told him to go down.

I understand where the rate is going.

At because when I changed the way for him, then I changed in thousand dollars for six points this point.

Eight also, but.

You have a question in this.

No no, no, no no no.

I'm just checking into what he said that you feel looking at investing in from a broade, you consider the developing area, not developed area.

That's what I want to just to pay.

Okay, that's a good point out there, and why because you're you're able to make a faster.

Developing area is always cheap. It's always cheap.

He's always cheap and just capital for the next arm speaker.

Mortgage mortgage, I said, I work in the bank, and mortgage.

Is actually working in.

Anjilia because it takes the bank a.

Lot of time really a verification, the have your sage and everything, then before they completely sage the property without markets.

It's happens on.

So quitely.

Body have any option of from a game, I advise you raising on the play of.

Push everything you're going to then in chocolates, A, B and B will be we will think if.

You don't have anything on it, and if you don't have anything.

Onnaked, it's one. All right, I nephew dropped off. All right, but I think that's a good point you made there.

So let's get all that's a bow Nicolas.

Let's get nicolas and then we'll get all thanks so long.

Yeah, yeah, because everyone looks from desire states.

I just want to sleep in something because I've been listening.

For the why now and I thank you Sam, mister Cargo.

As double thank you.

Please. I want to say something like what brother said just now.

If you are doing anything concerning it's to me or it's just the world of my own opinion of concerning this situationalistic if you're doing anything.

In real estate, you should consider the area.

The place where you are, where you're.

Putting your money in his land, if his guilty, it is your whole day where you're putting that money.

You consider is what does these people need?

What's first selling day? Reddy? As I'm talking to.

You now, what the projects we're doing?

Like I work with Dilan because as in Legos and I mean desire rights now working with news that's limited presently.

And the thing is the area we're working on that they're selling that place is first development by seventeen percent of the money you're use in buying any land, like every month or.

Even if I can say like two three weeks, if you buy a PRONTC land for several.

Million, life now I took play with I'm getting.

Under a buyer for twenty twenty five million. So my own opinion in disol thing is you have to.

Look at the area, the areas you're buying from, and how is the area fast?

And are the trading there? Are people coming to the develop first? Are people coming to get property the area before?

Now? Are people see coming?

You have to make those verifications before you put your money in any other property.

We may be the next investment when it goes to rare. Essays thank you sir.

All right, let me just really ask you this question before we use we're on the on the lee went out to cover the space. Let's talk about titling. So let's talk about titling. You know I'm a bit familiar with and maybe walk us through what are the best practice doesn't have to be legals perceive, but what are the best practices for Thailand.

I know Oly had asked that question. What should we look out for? We have to have a lawyer.

If you want to buy land. You see your whole still supreme. What would you advise, I don't live in Nigeria, how do I do it?

Just walk us through best practice for those listening or how to buy property in Nigeria.

Okay, yeah, So.

When you want to.

Buy property, and.

I would say, use professionals, okay, in professial.

Agents, use profession legal.

Person to do your due diligence and said is now when it comes to buying properties, your initia finding most sought out to madior things regardless of the state of the title of the property, whether it's perfected or not, you must check. So your General of the States by going physically to the land to pick co adience and chatting.

Is your General's office a lands of.

Your can help you do this.

It's the loss of your.

No notice.

The status of the land.

Land in Nigeria are usually existing at four categories.

Okay, one particular category you should.

Not touch you with a long pole. The other three you can talk about.

You have to understand implications in terms of course, so a land can be free in terms of status because by the low government land using Nigeria is nineteen seventy land user right. Every land in the Oba area of the state is put in trust of the government.

And of the suburban jur area is putting trust of German of the local government council. Okay.

Lego State, for example, does not have.

Any rural area anymore.

I decition every area in Lego stages of bad so no local gov Jama can sign and C for a tap for me Legos. That is silly fights between c and Dama.

So millias.

But I think it's it's almost taken about you, Loue. So the others in a Ja, I think it some places we have local government chairman has still santages.

For you if it is you are in the states, so you check with some of your General's office okay or the local government of the.

State, whereas in charge of the area to charge what they.

Can be free made of freeze.

A government has munched any interest in the land okay. So it's free from any governments from any coogans okay. Or it is acquired when the land is acquired and as you know, I would advise that you don't touch, and sage.

You have powers touching.

Acquisition are two food the general acquisition or specific acquisitions or some places you say it's committed acquisition or law committed. Okay, so check with well specifical general or commutent and committed.

I don't advise touch it as sex.

You are so clear that this is something you can get.

To be released. Okay. So that's that's why you don't touch that.

The lad could be that.

It is ratifiable.

Ratifiable means that it's being committed okay.

But government has also issue a communication maybe to.

Say that you know what we used, I want to use or we are no longer interested using, so we.

Are open to you know, like defined for any private use.

So that's the type of LaRue saying by to actually buy.

From the land of the family and then you buy from government, it.

Just means that you would play some reasonable amount. I will go through some permission with government as.

Well to give to something that land and to be able to do.

Your attacked money.

Okay.

Then if fourth from his way, it is exercised.

Exercise means that it's.

Formally acquired before but now releasts back usually to the people it was acquired from.

Maybe you can trade it, so use it.

It can.

Just added four years now. That is one aspect.

You check these stages, and with the same coordinacy you also go to the physical planet of the states and check the use you can put the land to most seasons as you are now hard body called master plan every land, every inch of land in most states.

I know if legos are bulger part of what our called carder.

You know whose states these places have some master plans almost entirely master plans exiety.

So you check in the physical office.

What use can I put these lambs that used had to agree with you used your plan to put it. For example, if you're applying to doing the residential construction development there, it must be that it's either available for mixed use or especially for resignation, and then you can

You must find out before you take that risk. If it is something that.

Is possible, you can have the.

Juice changed, okay, the designated juice change towards we want to use it for so that those are the fundamental Then before you as start to do dig the source.

That you're buying from legitimates.

No, that is better done by professional agents.

Or agents or a lawyer diagnosis only it's okay, do dig diligence, inspect the.

Side to go back there and make findings.

And then also the former lony called legle sage okay, through last Bureau of the States.

We write whatever titles on the land, we write to verifind it.

We there has no titles on the line in this free and there's not the enterty I.

Think customized Londoners indigenous. You get there, you get the information you have given principal members of the family.

In the head of the family.

And the secondly are very important that you also incomplete as many people as possible with.

The family which you are you can hold so that every.

Generational persons who are publimed with young generation as a true.

But in all of this it's good to have knowledge or what is to be.

Done, but the best will be used professionals.

And when I say this professionalis the people I advice you to use our people who are who have subscribed to some good of ethics in their professional social and having place can progam should anything happen.

People the essence of yours bidelas or agents that are registered proparts and the most l civil agency.

Point in the gas a year.

As a serial basis egentes of Nigeria.

They are.

Blas and then lawyers and of course like you're.

A bus you know you have to verify these people. You are dining planner, I mean interplasures registered.

You are dealing in the lands of your measure.

Understand, all of these people have their associations that a liecis band.

Law okay, and you can report anyone.

By any professional gearab okay. So that's what I would advise. Now, cr foos as no new can vilance that doesn't even have advertised yet, but the most of that starts are getting issue.

You will find out whether these things is usual ENTI to out.

How much it costs and whether you are ready for baking you know or if you can't say that.

As some time to go enjoy ready to enjoy it.

Maybe CRHO maybe even that's fast yours.

Another somewhere that your needs or whatever.

It's constructed and search for that in that view. In terms of distinct I would claimed I can assi, no, I hear you.

I mean what I got from this was number one. Try to work with professionals. Number two, see your food, no circles, science the head. You say, search for the use of the land if you have been avoided or if you're still ongoing. But for me, if you live abroad, get a lawyer, get on and knows what he is doing. You know, in lots of persons legos you buy from the family, they have to go to the legosy allowncer to perfect your land. Same in other states you buy

I'm doing very well. So thank you.

Okay, sir, grouping and everyone, what's the times for your time?

Again?

Listening right from the inception? Good question for you, sir, and in regarding this time, but I want you to listen to my question, sir.

I'm to acquire a land. And then we did the research.

And we were putting the SOBIA and everything and because red copy from the office of the.

SOB genera legal state and it says the land is free years okay, go ahead, okay, and they said the land is.

Crea Before I go for that, one question one quick one yes or no?

If the land is committed or the land is not free, can you see a record, your dallar.

So there are complications.

The person you are doing that word they are keeping you with that.

How do you missa okay?

So when the land is not free, that's a date from which he started not to be free.

Somebody wants to be funded can do it so bad dated before that did slotting into the records. You know how that can happen an engineer, and they give you that document, if you use that to go and do your search, they're gonna tell you also because he also.

There is free.

It is not free.

So that's right, like we.

Said, useful chance it and the places where we can check the statures of the land calling not the lads read some pieces our.

Part to what I was saying, thanks for that.

So when this land was a potase, I, I guess Servio to do this.

Check for me, and they said it was free, and then again sob and then the red copy yourself and said it was free.

It was this was doing Covie twenty twenty.

Now, first forward to four years, the coastal root, this coastal wood used to came up.

Does this see it match? I think?

And then they came to the community, the community it's going on c for as well. Now we came to the community and they start marking I have to go for this row.

Fortunately for me, my party wasn't marked and the often is just gonna go pass through and all of that.

And then I wanted to go in for my approver and someone that got nor consent because it's got a c B and all that, and then went back.

A mistake on my sory.

So we went back to lentify the names on my soul because I've made a mistake or if I.

Want to go back. And then now kere the copy back?

They read copyback and no, the study Landforce with a lucky acquisition.

M hm.

So it goes from the sorry is that the question put to them was.

Okay, okay, color let me say this right, take the boss, d L or something.

I know.

Yes, I'm learning from all your questions, and I think that was the qualification of that first question. But now when you go too deep, it's you know, so I want you to take the boss information.

If you don't have the.

DM me, I'll make sure I got you with it. But I think I learned from the first one. I think I have a very interesting case. You want to follow the lawyer or we Dable with professional right, I don't have the country of I think your your your consensor, Jamie, but I want you to take it up with them with Dable after this, or let's have a specific question. I mean the first question you're asking that was very generally thic. We let for me, but this is now more pecular to you. I want to do a flop

All thank you very much for this platform.

My question is around I think what's holding a lot of people back is just how opick land opposition is in Nigeria and you know, there's no like straightforward way to work about it.

I mean, if there's anything that kind of speatured our capacity is just story from all I hear where you know he did the right thing and all of that, and it seems like the whole system just kind of works in a way where you need to know certain people, which like most people don't know because it's not the daily job is not like there is like a clear guide and somewhere that is, you know, open for someone to do to kind of like just check this are like the checklist of what you need to do in

The right thing go about doing it? Like what's the like I don't want to say, was the in way?

But but yeah, like that like the fact that everything just seems so munky, Everything just.

Seems so kind of like he did.

And if you want to do the right thing.

Anything you know, it makes it credibly hard here that which recite and things that'd be better because here you have you know, if if you know, if.

Your land has like maybe out of or something is easy for you to verify.

I mean, there's still some level of shading that is going on, but if you know, it's much much easier.

But down the state, a lot of these things are just the institutions and the structures are just not there. And in such a situation, how do you how like what what is it the hope that you're going to buy this land and at the end of the day, the land doesn't just get like grab from you sometimes by people who's who are manning.

The institutions that are supposed to protect your rights to property.

So if I hear you right there you asked about how to do right thing? Or like I think, is that what you're doing?

How do you?

How do you?

How do you?

How do I won't even have clarity because there is no clarity when the consolership.

It's not like it's just not easy if I buy account to me and I want to get it registered. I mean, there are fair guidelines on how I go safting for a company, right, my dealership is not like that in Nigeria, Like how do you go about doing the right thing?

Especially in places like lingals for example? You know, like what's what's the what's the what's the right best way? My rule of tom generally is try to buy properties that have mortgage right, because then the banks have all the verifications for you. And even if you're not going to take the muggage, you can the rest are sure that no nobody wants to do money right and so yeah, but you know, for a lot of people who maybe they just want to buy land, like how what's the

What are those things that one can't do, like easy steps that one can't take?

Just okay, if you are aligned by this right, you can't get it wrong? All right? All right? Maybe maybe maybe I don't know.

I would say one or two bullet points would help you because like again, the point is making, which we all agree with. Land in Nigeria is state specific. If you go to Legos or a Puja, it's easier.

Many states, it's very murky.

They are no laid out guys that I think the enjoy used to track the ease of acquiring property used to be something that we used to track. The niegia we stopped in twenty is it twenty eighteen when the World Bank stopped it? But back then you consistence that we're doing very very well in the ease of doing illustrate title and still that I want.

To do it very very well.

But overall I like one or two blood points that you must do before you even go ahead. One or two clear blood points for us.

Okay, thank you very much, And I understand what is saying perfectly.

Unfortunately, I don't we heard much.

You have to do.

Use professionals. That's the truth really across it.

Across places, use professionals. However, I will say one of the things. The other thing is that because of the winner.

He works, like you mentioned to.

Advise people that when you want to do anything in real estate, I've mentioned it decidded three less relad as, three ministries or arms of government that you have to touch.

Based with one the last viewau. Each chi has one of your as office.

Each stage has won the billings to a physical plan. Each stage has one.

Now locate mid level managers in those places. Get them into a conversation if possible, engage again, especially if they.

Have all of them.

Periods of records.

All of them more or less.

Have some ppdi O prince that is registered okay with their professional friends.

Or themselves at the back of it. Most they are professionals.

Deal with them without their pp.

To do or to achieve what you achieve.

Okay, That way it will be a lot easier for you to achieve whatever you want to achieve. I sent middle level because the high end guy is commissioner pers all of those who because you.

Have any leg and it's just cost.

For nothing because they're not really going to be working.

Still, the new level guys have a new job, then the.

Low head guys, they will.

Be cheap, but then your job will never get done because they have to pack somebody before the job is now. But it is the mediu guys that does the job for you head guys, and they are also the ones that will help the middle the blue head guys.

So the blue head guys can they are that they can call okay and so they can get their way and I can.

Affordable or something more with their buds.

That's how I would advise that you work, praise right and know about these ministries.

Have information materials. It's just that you know there are no wells have related Get.

To their website may not be updated.

And am I saying check their website When you go to the ministries, get the information materials, you know.

Read them, connect with somebody there, make fact.

Do your due to the games were with the.

Professional outside or.

Inside You get your operasial side of your accident to get somebody who's side to work with.

When you look at that inside that it's a lot easier for you.

To achieve what you want to achieve.

That is what I would summarize that in terms of what you should do.

And I hope I think it does. I think it does a lot. But so then were I just rounded by just take So if I was in Nigerian today or not in Nigerian.

Would you and I'm putting on a spot here, would you recommend if I had funds to die? Actually back to this question, Actually, go and invest in property. Do you think it's there's there's there's a future for that owning property with all the cost of doing But you still think it's an investment that you do or.

Else to fix the positive put money there? What's your finals? An investment should do.

A it's also word has.

Really that's which kind of appreciate it.

Yes, it's an investment, should realist.

It should be in anybody's portfolio once you can have fun.

And I like, if I talk about the red stuff, I mean to look at the analysis.

Capu again.

Reads, yes, whatever from the private Yeah, it's the higher I mean, yeah, it's the highest.

Yeah, So I tell people I think you can start from that point.

You know, I have a lot of body people more than somewhere.

But you can't bang into a read or he's sad, you know, stuffs like I want talk.

But it's something in realizes is something.

That you should get no doubt about that absolutely.

And last question, imagine, I think I'll ask that question to you. So what it's talking about? Why can't we talkenize this fund reason for a property? Sassy He went to a place and he saw that people would get a house and.

It would sell like a rich you sell the tokens and when you buy that talken, you own your home.

You can then fund your home. And all that is asking why is that not so widespread in the conflict Natia will have high cost of capital? Have you seen that is something you think can work?

Yeah, it is, it is there, but the world this is not widespread.

But I don't think you would talk about it's not even spread.

Don't white.

Ni Sex just came up with the regulation to approve the class from about two years ago, you know, and even at that when they came up with this.

At this time about and it really can't.

Say up the back head.

But there's a lot of priority organization as it's also helping.

Yeah, yes outside of sex as in and some of them are very well a nice around so they can export.

That's the next life.

That's next that we are exploring how to go.

To the market.

Now, I ate and issue and we raised reads.

You know and stuff.

I believe that's an opportunity for people about finance and structuring the financing and funding and raising a lot of these.

Take back there the uh metrodologies that we can't then use a fly.

Sometimes out that that we can take advantage of because we have all the FinTechs we have about the I mean, it's I just feel there's something that is easily pluggable if you have we have something called the proper.

Crowding they want they allow you to raise funds.

I was.

Crowding, but you know that's on.

But mys Rena revealed that they are struggling in the terms of market.

As time you was a game, it's in adia and has a very challenging problem.

You know, for for improper coward now because of the red time les when they compare to you to other options, people rather go.

For other options. Once do anyway lasts structure and appreciation.

Is not part of what when we pay out at the end of the day, it's going.

To be difficult for you to complete. Even money market.

Sometimes lots of talk about the market.

So Proper County is there, prop Cloud is there, and their surviving.

I know they are trying to work with majority of that right now because I'm involving some life and that's the only I think I was about to even the only license circlectence.

Funding if if I was able to take off the ground that would make a big impact. But all our saying for those aphones that you would allow you if you had a property, you could go to proper crowding and say I want to get investors, and investors can subscribe really quick and intiregret to your quote unquote talkings.

Would you then used to fund your property?

That would be a game, kind of a game ginger for that mid market, you know, zero to maybe twenty five million, an.

Era of old. It really helped wanted.

Yeah, and I believe that it pretty through.

Okay, well it's all right, perfect, perfect, definitely to sign out there. But I can't thank you enough. I mean, we're just a conversation about real estate. Is this something we should buy? You've got a lot of insights into locations, into processes and all and the good questions have come true. We're in a way for Airbnb, Persson titling and also that asks about you know, how to get it startling done.

It's a very very marketing. But I think you've cleared up for us a bit and we're grateful for so thanks guys for hanging in here, for learning with the talks.

Were here every week every Sunday, seven pm start time. We talk about investing our personal finances of course the economy, so it's perfect to bring in different different assecs to trying to bring somebody else again our next week table. Thank you so so much. I wish you guys are the very best. On your Twitter's anniversary, keep going, keep.

Rising, thank you, thank you so much. All right, yes, sir, please to leave. I try to message mister Dable now it's not going through.

His dear is not going through it is he allowed us not able to answer.

My question question none of please answer this question. I apologize. I'm just saying go ahead, holl please.

I was saying that now he said, I'm now for I am a position because of the coastal moment.

Parties on mark and we went back to ask them. The reason why that is doing so is because of the coast hour that is going through that ass is they don't know which party is the matter.

All that so for not legal sty because's just trying to cover themselves because of that.

I can't do anything on my property.

I just have to pando that I spent.

So much money on that property. Yeah, sorry, it's entire right.

All I can I can, I can.

I can I anyfied with things.

Ready with you and I understand what you're saying very well, and they just chold you the reason.

So you see godness in this part of the world.

It's very.

I don't want to do I don't want to use the world.

I want to use.

But you see the rules as its way.

You can imagine the excuse.

Me, ga, we don't know where the landge. They just want to place it and then they are all the ole investment in.

Lingual So you can imagine and that's exactly just what is happening. That's exactly what you.

Discined up very well.

And they started but you.

Know very well, very well, very well, very and I know that.

They've they've also moved the game, so we are not sure.

So it's unfortunate. It's unfortunate.

I suspect that under normal condition your property is not under any acquisition. But because they now don't know how they will end up, the government is using this part out to just I mean, you hold any in the land idea that won'st approve it like now till they decide or they're.

Able to have a care as to what they want to do. You can imagine that, and they won't take that decision the good time.

Unfortunately, they will just take that time as if they have all the time in the world. But that's what is happening. That's what it happened.

But I believe you're using somebody the term plan of the always help you get information as to what is happening. Yes, I'm not in the country, so I'm just hoping anytime I come into the country, I'll go in myself and.

There find that what is happening.

All right, guys also ugly yes to the ground.

I'm somebody who.

Help you, all right, So excellent. I hope that you're welcome. We just want to make sure you get salted. That's fantastic. So guys, thanks so much for joining, and I appreciate one that I've been here. We'll meet again next week on that topic debated, Learn and become better sometimes time. If you guys, have a good one ticket for yourself and be nice, it's gonna be a great week.

Go out and make it.

There's most to noise about. The divertic pricing has come out. Now we're gonna buying diesel and all that so vanished. It's just amazing and Nigeria and just an amazing place where we're boycotting. Were boycotting a low priced the lower priced and stuffly I don't don'tunderstand it, all right, all.

Right guys have a good one. De boy again, thank you so much. Do you guys have going on?

Coom bye, You're welcome by pleasure. I'll take care take it.