Should I Sell A Property And Go Into Business? - Investment - Nairaland
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| Should I Sell A Property And Go Into Business? by Nobody: 8:35pm On Nov 08, 2019 |
OK friends ...I have a lot in my hands and I need matured advice not to make mistakes please... I lost my rich aunt last year ....she handed over her properties and two kids to me to take care ...(adopted.the girl is 20yrs .just finished jamb .the boy is 12yrs .just going into js1) now I'm 39. not married.and lost my job 2months ago....no liquid cash left but I have in my custody 4 units of 3bedroom flats ....also a 6 bedroom duplex not yet finished so no tenant yet... since my aunt was so secretive I had to start looking for other houses she didn't say...I have found two in an estate .....somewhere...nobody knows about it but me.I'm yet to find out more properties about 4. I have a new kia sport age jeep too in my possession .... now d demand for upkeep and school fees from these two kids is really eating me up...have to borrow pending wen tenants pay .late payment most times.... now I'm turn in between selling one of the houses I found out on code. 10million.just a small apartment....I know I can start life wit it.love most of the problems,look for more properties and complete the 6 bedroom duplex.... my question and fear is that should I sell it and start life or keep managing with tenant fee and late payment ..? 2 Likes 4 Shares |
| Re: Should I Sell A Property And Go Into Business? by LeoThaGreat(m): 9:22pm On Nov 08, 2019 |
Selling a real estate isn't the same as selling a mobile phone. You'll need legit papers in place. Once you have that, go ahead and sell just 1 property, because that will be more than enough to maintain the welfare of the true owners of the properties - your aunt's kids; you'll also have enough funds to set something up to bring regular cash into your account, or probably get a new job. The adopted child is also a legitimate beneficiary of those properties, and if you misappropriate them, she will spend her entire life haunting you for bad. Help her get admission in a relatively affordable private university in Nigeria. She will meet other rich kids that can change her life for better, and you'll also benefit if you don't mess up. If you can maintain those properties well, you will have no reason to lack. Make sure you document every kobo because you are accountable to those kids, and they might need you to detail how you managed their mom's properties later in life. . . Hope my contribution has been helpful 309 Likes 15 Shares |
| Re: Should I Sell A Property And Go Into Business? by Nobody: 10:00pm On Nov 08, 2019 |
LeoThaGreat:thanks bro....I always carry the girl along in what ever I do and she sees how I struggle to meet up before any tenant pays.(late payment most times).just scared .they are with their god mother now and they cry everyday that the woman maltreats them I can't get them off their when I have no dime on me.thanks once again.u just gave me strength ... 46 Likes 3 Shares |
| Re: Should I Sell A Property And Go Into Business? by LeoThaGreat(m): 10:38pm On Nov 08, 2019 |
eddy1234: See, if any tenant want to frustrate you, seven months to their rent expiration, get a sound property lawyer; six months to their rent expiration, serve them a quit notice. If they don't leave after that notice expires, your lawyer knows what to do to make the court come and seize their properties. Like I advised my dad, a tenant living in your house for long without paying at the right time (before you get indebted) is like a customer that buys goods on credit and refuses to pay when you need it. Life is hard, but don't let anybody contaminate your life with their challenges. You've got mouths to feed Bro 42 Likes 4 Shares |
| Re: Should I Sell A Property And Go Into Business? by nigeriainfo: 3:39am On Nov 10, 2019 |
LeoThaGreat:[quote auth LeoThaGreat:or=eddy1234 LeoThaGreat:post=83859225]OK friends ...I have a lot in my hands and I need matured advice not to make mistakes please... I lost my rich aunt last year ....she handed over her properties and two kids to me to take care ...(adopted.the girl is 20yrs .just finished jamb .the boy is 12yrs .just going into js1) now I'm 39. not married.and lost my job 2months ago....no liquid cash left but I have in my custody 4 units of 3bedroom flats ....also a 6 bedroom duplex not yet finished so no tenant yet... since my aunt was so secretive I had to start looking for other houses she didn't say...I have found two in an estate .....somewhere...nobody knows about it but me.I'm yet to find out more properties about 4. I have a new kia sport age jeep too in my possession .... now d demand for upkeep and school fees from these two kids is really eating me up...have to borrow pending wen tenants pay .late payment most times.... now I'm turn in between selling one of the houses I found out on code. 10million.just a small apartment....I know I can start life wit it.love most of the problems,look for more properties and complete the 6 bedroom duplex.... my question and fear is that should I sell it and start life or keep managing with tenant fee and late payment ..? My question is do you have any Buisness in Mind that you think you can make more money after you have sold the said property? My fear for you is that I don’t want you to loose the property and the money. Please think about it ok? [/quote] |
| Re: Should I Sell A Property And Go Into Business? by mankettle(m): 3:59am On Nov 10, 2019 |
Funny enough, except the property is in your name, or you have been appointed the executor of the estate you cannot sell the property, even evicting may be a bit hard. I will advise, you get a lawyer to trace all assets, get the legal right, evict the tenants and get a new set. Meanwhile all costs should be documented because one day u will handover to the kids. 27 Likes 2 Shares |
| Re: Should I Sell A Property And Go Into Business? by Charleys: 8:55am On Nov 10, 2019 |
Have you heard that saying that most business do not survive their first three years of their existence? How are you sure yours is going to. 8 Likes 1 Share |
| Re: Should I Sell A Property And Go Into Business? by Charleys: 8:56am On Nov 10, 2019 |
Guy you want to sell your Aunty's property. That she left for her kids See evil uncle. Lalasticlala come......o abeg come here now. But I feel your pain man, wetin man go chop? You gotta sell something. 7 Likes |
| Re: Should I Sell A Property And Go Into Business? by mindful01: 4:43pm On Nov 10, 2019 |
Charleys: 1 Like 1 Share |
| Re: Should I Sell A Property And Go Into Business? by Sommydisaster(m): 4:43pm On Nov 10, 2019 |
 Well at the first stage of business, you don't need money for biz.... What you need is strategy First how lucrative the biz can be, Secondly do you've interest in what you want to venture If both are ON, then what you need is for you to do the biz with zero income and see what the profit looks like. Then from there, you can generate more profit with plenty capital....... And from there you can go global Business no be rush rush something, take your time and study it...... Its more like informal education Well, check my signature for more deals on electronics 9 Likes 2 Shares |
| Re: Should I Sell A Property And Go Into Business? by Sunofgod(m): 4:43pm On Nov 10, 2019 |
You're aunty Bleep up.....she for put everything in a trust fund with a capable manager. 6 Likes |
| Re: Should I Sell A Property And Go Into Business? by ijewejones: 4:43pm On Nov 10, 2019 |
Really speechless about your story.. Hope you won't colonize the properties handed over to you for her children out of frustration  eddy1234: 6 Likes
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| Re: Should I Sell A Property And Go Into Business? by Ekakamba: 4:43pm On Nov 10, 2019 |
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| Re: Should I Sell A Property And Go Into Business? by Nobody: 4:44pm On Nov 10, 2019 |
eddy1234: Did she hand over the properties to u as the owner? Or did she make u caretaker of the properties pending when her children graduates before u hand it over to them? 6 Likes 1 Share |
| Re: Should I Sell A Property And Go Into Business? by naijadrivablog: 4:45pm On Nov 10, 2019 |
Dont sell.You are holding those properties in trust for her kids. If you are wise, you can become rich from what you have already. How much does the rented apartment return yearly? Can't you give the tenants quit notice and get new ones, get a lawyer to collect the rent A typical 3 bedroom should return N400-800k per annum times 4 = 1,600,000 - 3,200,000 per annum. How much is your upkeep and children school fees? Now, you can keep the new houses you discovered under your hat for now. 7 Likes 1 Share |
| Re: Should I Sell A Property And Go Into Business? by SalamRushdie: 4:46pm On Nov 10, 2019 |
You have no right to sell those properties , use the rent to raise her kids and hand them over to them when they are of age and responsible 8 Likes 1 Share |
| Re: Should I Sell A Property And Go Into Business? by philip0906(m): 4:46pm On Nov 10, 2019 |
I sincerely hope it is not that girl with loose vagina you posted about a while back, that is making you take this step? 15 Likes
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| Re: Should I Sell A Property And Go Into Business? by murphyibiam15(m): 4:46pm On Nov 10, 2019 |
those are not your property, explain to the girl first of your intentions to sell the house, then get a lawyer and fast track it.. but I beg you in the name of God , don't become greedy and sell off those properties for your own personal aggrandizement, who knows you might just benefit more having those kids and carrying them along 8 Likes 1 Share |
| Re: Should I Sell A Property And Go Into Business? by kelvxyn: 4:49pm On Nov 10, 2019 |
Think twice bfor any action is taken to avoid future regret. 2 Likes 2 Shares |
| Re: Should I Sell A Property And Go Into Business? by iCauseTrouble: 4:49pm On Nov 10, 2019 |
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| Re: Should I Sell A Property And Go Into Business? by PennywysCares(m): 4:50pm On Nov 10, 2019 |
eddy1234:i pray God almighty lead u in the right direction, but please whatever at any cost take good care of those child she left behind don't allow them to feel the absent of their mother in so doing her spirit will be happy with u wherever she is now. May God protect u and those kids 2 Likes |
| Re: Should I Sell A Property And Go Into Business? by Titto93(m): 4:50pm On Nov 10, 2019 |
Let the rightful owners of these properties know about it... And let sleeping dog, lie |
| Re: Should I Sell A Property And Go Into Business? by fineboynl(m): 4:50pm On Nov 10, 2019 |
No. Because rule number 1. Never sell any property to go into any kind of business. Business is very risking. And the risk % goes up higher on bad environment. The Nigeria factor at the moment is highly risky. You have to do your calculation very well and prepared for any eventuality. 4 Likes |
| Re: Should I Sell A Property And Go Into Business? by Sultty(m): 4:51pm On Nov 10, 2019 |
U sound Boring. I'm sure ur late aunt also has a will so u can wait for d will to make d appropriate move, and if not u can do ahead sell one good property and invest on both her children and other properties seems u already have a booming business which is real estate.u rent/lease some out 2 Likes |
| Re: Should I Sell A Property And Go Into Business? by ThisisIkemefuna(m): 4:51pm On Nov 10, 2019 |
Hmmmm |
| Re: Should I Sell A Property And Go Into Business? by GOFRONT(m): 4:54pm On Nov 10, 2019 |
Chaiii.....  |
| Re: Should I Sell A Property And Go Into Business? by Abagworo(m): 4:54pm On Nov 10, 2019 |
The most important question from me is if you have a running business that needs expansion or if you intend to start hunting for business after selling the property for 10 million? 10 million is quite a small sum of money to break into a business you are not experienced in for you will surely lose the money. 1 Like |
| Re: Should I Sell A Property And Go Into Business? by Lexusgs430: 4:55pm On Nov 10, 2019 |
eddy1234: That is fraud and breach of trust............. You're a guardian to those kids, looks like the rent is looking after her kids....... The funds available is to look after the kids and not you..... If you're going to sell any asset, it must not be a secret sale, funds must be accounted for.......... 2 Likes |
| Re: Should I Sell A Property And Go Into Business? by joelag: 4:56pm On Nov 10, 2019 |
However you see it, you are about to create unnecessary problems for yourself in the future... And you know this yourself. 2 Likes |
| Re: Should I Sell A Property And Go Into Business? by Jasen1(m): 4:56pm On Nov 10, 2019 |
Where is the kids father ?? 1 Like |
| Re: Should I Sell A Property And Go Into Business? by Mays24(f): 4:56pm On Nov 10, 2019 |
Sell one of the property and start a sensible business that will yield profile. |
| Re: Should I Sell A Property And Go Into Business? by concho(m): 4:58pm On Nov 10, 2019 |
How can u sell what is not yours Bro. You think those kids won't ask questions. You didn't save while on 6hrs job . Learn your lessons and move on. We are still beefing my uncle for including his name in my father''s property during the agreement, despite the fact that he has left the land for us . If to say he sell am , Even DSS won't stop me from killing him . 13 Likes 1 Share |
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