Oh please!. "IKEJA" is what? .... an abbreviation?

Oh My God!. I'll like to think of this as taking all what I have learnt in my childhood away.

It is said to have been coined by administrators in the colonial times for administration ease.

What other meaning can can we give "IKEJA"?

Fraud Alert!. Agent arrested for impersonating the Lagos state government and defrauding the public.

An estate agent identified as Sunday Obayemi, from Ado-Ekiti, Ekiti state was arrested by Lagos state police officials attached to the state Task Force on Environmental and Special Offences (Enforcement) Unit, Alausa, Ikeja. 

He was reported by a tenant, in person of Nurudeen Duroti, on Olumo Street, Agege to be specialised in defrauding people using fake Lagos State government letterheads 

Daily Post reports that the security operatives stormed his house following a tip-off and found fake Lagos State Government documents after a thorough search.

While parading the suspect, the spokesperson for the police in person of Dolapo Badmus, stated that the state Commissioner of Police, Fatai Owoseni, has given an instruction that the suspect be transferred to the State Criminal Investigation and Intelligence Department, SCIID.

By way of instruction, the chairman of task force, SP Saheed Egbeyemi, urged Nigerians to be careful of the strategies used by dubious people in duping members of the public.

According to the suspect's confession, he retired from the Lagos State Ministry of Environment in 2014, Daily Post reports.

Obayemi confessed to using the fake documents to extort money from tenant.  

He said,“The last one I did was a notice to quit, which I served a tenant on Olumo Street, after collecting N50, 000 from the landlady of the house with a fake Lagos task force letterhead.

“I made my money from using fake letterheads of government’s ministries and agencies. I will stop this illegal business if I am pardoned by the government,” Obayemi added.

The suspect will be transferred to the State Criminal Investigation and Intelligence Department, SCIID and subsequently arraigned in court.

How possible is it to “Fail” investing in Real Estate.

!"#$%&'($!)$*&+,$\

Real estate investing is not easy. Actually, the truth is nothing is/comes easy. It is okay to be a ‘little’ scared when investing huge sums of money into property (ies). Just do right to educate yourself on the real estate market, on your returns and the kind(s) of property you want. Once you are well educated about what a good deal is, only then should you pull the trigger when you find that good deal.

This article will be focused on why so many real estate investors never buy a land or a house and how possible it is to fail investing in real estate.

*Stories about people losing money on properties* Hence the need to hear the entire story from the horses’ mouth.

Many who have ever expressed interest in real estate investing to our friends or family have encountered negativity. Someone always seems to know a relative or a long-lost friend that lost their entire life savings on properties or getting scammed by land grabbers (Omonile). The person telling you how bad real estate is has probably never invested themselves and are re-telling stories of people they know, which may or may not be accurate.

If you hear a story directly from someone who lost a lot money investing get the entire story. Most people who lose money in real estate did not know what they were doing or they took on huge risks to try to get rich quick. If you educate yourself about investing in real estate and follow certain guidelines it is hard to lose money.

*People don’t understand Real Estate.*  Hence the need to educate yourself or Get a professional.

Never assume your real estate agents and his likes know about real estate investing. Most agents never invest in real estate and don’t understand what a good investment is. The reason most people tell you real estate investing is a bad idea is only because they do not understand it.

There are many types of real estate investing. Someone hears a flip side to real estate and then associates that story with all types of investment even though the two are completely unrelated. Personally, I am not saying people who have lost money in real estate did not know what they were doing or did not have any knowledge about it. There is every possibility to lose money investing in real estate, even if you know what you are doing.

NB: When taking a major financial decision, make sure you get a good professional advice. Also, if you are going to take the advice of people about your future, at least make sure you get the whole story and that it applies to your situation.

*Lack of money* Hence the need to sacrifice, save and work hard.

It takes money to do almost everything including investing in real estate. If you have no money it is very hard to invest in real estate or anything. If you do not have money that doesn’t mean you can’t invest, that just means you need to get money! So it’s either you learn to save more money or you make more money. I can guarantee that there is someone out whose financial situation is worse than yours, and was able to save money to invest. It requires a lot of hard work and sacrifice, but it is way better than having no money.

*Indecisiveness* Hence the need to make up your mind.

People get talked out of it. As discussed above, people prefer to listen to naysayers and end up not investing because they think it is a bad investment. Never let someone else tell you the best way to invest your money. Figure it out for yourself.

Conclusion

Most aspiring investors end up not buying a property. They always have an excuse. There are ways to invest with little money, If you want to invest in real estate, don’t let someone else decide for you neither should lack of funds be an excuse. Get out there and do it.

Many people will lose money investing in real estate from the reasons listed above. Many more people will never invest in real estate at all, even though they know it is a great way to build wealth and they have every intention of doing it.

There are many more ways to lose money investing in real estate. But I only consider it a failure if you gave up and didn’t learn anything from your experience.

If you know more reasons on how one can fail investing in real estate, please share by commenting or better still if you have an experience, do well to share so people can learn.  

Contact DeCEO Homes  for best deals on landed properties. 

Should I buy "My Property" in "My Name"?

When a decision is made to buy a property, the buyer must think through carefully what his end goal will be and what he intends doing with the property. By This he can establish which entity to register.

In all fairness, the thought that comes to mind when acquiring a property is focused on"what to buy",  "where to buy it",  and "how much it will cost". By so doing it’s easy to ignore the ‘who’, that is, the name that will appear on the title as the property’s legally recognised owner.

There are 3 forms of ownership:
Personal name, Company and Trust .

For each form, there's are  different implications for your property’s security and tax effectiveness.  It’s important to determine the appropriate form of ownership before you begin buying real estate , because by changing it afterwards, you could be up for thousands in additional stamp duty and/or capital gains tax (CGT).

Each form of ownership types suits individual needs, hence has a range of pros and cons.

Your Personal Name

Under this form of ownership,a person(s) name is required to appear on the title to the property.

Generally, a suitable title for majority of residential property is a personal name ownership which  enables them to claim a full capital gain tax exemption.

On the other hand, having the title of the property in your name  means that when the property becomes positively geared or its sold, you must pay tax in your name at your marginal rate. Additionally claims can be made on your property in the event of debt.

A Limited Liability Company

The specifics on purchasing an investment property in the name of a Limited liability company  are quite complex andmy best advice is getting professional advice first.

Generally speaking,  a company is a separate legal entity. It can own assets, must pay tax on them, and lodge tax returns.

However, company ownership is not usually appropriate for owner occupiers, because companies aren’t eligible for a full capital gain tax (CGT) exemption. This can be the preference of companies looking to purchase their own corporate premises or in some cases, for commercial properties.

Trust

Buying a property using a trust is an increasingly common ownership structure for residential property investors. For a large number of good reasons ranging from tax benefits,asset protection and it can be a smart way of estate planning, your demise will not affect the ownership of the property because the Trust doesn't die.

NB: Trust is most viable when you are looking to hold the property long term.

Unlike the other forms of ownership, a trust is not a separate legal entity. It is a vehicle to hold assets on behalf of nominated beneficiaries (that is, the individuals or companies whom you wish to receive income or capital gains from the trust’s assets).

On theflipside, trusts can only distribute profits, not losses. This makes them unsuitable for most residential property investors, who rely on negative gearing benefits to hold their assets.

There are a number of different types of trusts so it is important to speak to your accountant to determine the best fit for your situation.

However in summary:
Your own name - not really tax efficient if you are at the top tax bracket, assets exposed to creditors on your demise, you've got trouble.

A Company - a bit better than personal, but still not the ideal vehicle when you look at the massive capital gains tax consequences, extra costs, et cetera.

A Trust or Us, if you're looking for the whole package, then it's a Trust that you should consider.

It is however important that you know your strategy: short term, medium term, long term.

Thank you,
DeCEO Homes. 

Popular female Yoruba actress bags an ambassadorial post with Real Estate Company.

Bukky Wright, a female actress who has been in the movie industry for decades, bags an ambassadorial deal with Knightstone Property Ltd!.

She took to her Instagram and shared the wonderful news. See that after the cut.

Edo Assembly approves N200m pension residential building for Oshiomhole

Comrade Adams Oshiomole.

Vanguard reports that Edo State House of Assembly, yesterday, approved a pension benefit for a residential building worth N200 million for the immediate past governor of the state, Comrade Adams Oshiomhole, while N100 million was approved for his Deputy, Dr Pius Odubu.

According to Vanguard, the decision was made after the House amended the Pension bill titled, A bill for a law to amend the 2007 Pension Rights of the Governor and Deputy Governor Law, was approved by the House at the committee of a whole.

Other benefits to be enjoyed by the former governor include pension for life at a rate equivalent to 100 percent of his last annual salary in addition to an officer not above salary grade level 12 as Special Assistant, a personal secretary not below Grade Level 10 who shall be selected by the former governor from the public service of Edo State.

He is also entitled to have two cooks, two armed policemen as security, three vehicles to be bought by the State Government and liable to be replaced every five years, three drivers who shall be selected by the former governor and paid by the state government as well as free medical treatment for the governor and his immediate family.

Also, Vanguard reports the former deputy governor is entitled to 100 percent of his last annual salary as pension, a personal staff not above salary Grade Level 12 as Special Assistant, a personal secretary not below Grade Level 09 who shall be selected by the former deputy governor from the public service of the state, a cook and two policemen as security.

Also approved for him are two vehicles to be bought by the state government and liable to be replaced every five years, two drivers who shall be selected by the former deputy governor and paid by the state government and free medical treatment for him and his immediate family.

Vanguard also reports that, the House has suspended its former Speaker, Mr. Victor Edor, for three months over alleged  misconduct.He was said to have failed to appear before the House ad-hoc committee set up to investigate an alleged financial impropriety leveled against him while in office as Speaker.It will be recalled that Edoror was impeached on May 3, 2016 by the House over alleged financial recklessness among others, Vanguard reports.

Culled from Vanguard

Be like us.......... Know No Recession!!!

Are you a goal getter? Do you want to play and earn big in the REAL ESTATE INDUSTRY?And  in turn , Be your own Boss?Then you shouldn’t skip this post. Here is an opportunity of a life time.

Our Real Estate company, Nigeria’s leading real estate and property development company has come up with a scheme that can help you achieve these dreams of yours in the real estate industry.

Join our Team , sell for us  and receive commission based on sales  and also when  duplicate yourself.

We are not just offering mouth watering commissions, but also providing you with free training and mentorship ( RUMI PROPERTIES) on Real Estate on becoming your own boss in the real estate industry

RUMI Properties believe the real estate market is wide enough for all of us to be independent and financially stable.

If you like this please  join us at:

The city of Abuja  @ Lapour Hotels. Plot 794 Okonjo Iweala way. Utako district. Abuja, directly opposite GOOD TIDING CHURCH.

The City of Lagos:

Oakwood Hotels by Chevron round about. Lekki Peninsular Lagos.

For Further details please call RUMI Properties on whatsApp 07031806506,

Acquaint yourself with these Amazing facts about Dangote's Refinery and Petrochemical Plant.

Did you know?

1. Over $4 billion worth of equipments currently sits on the site?

2. During construction, the project will employ over 25,000 Nigerians?

3. Dangote Group’s refinery projects will provide 235,000 direct and indirect jobs?

4. The project is slated to cost $14 billion (2.8 trillion) of which Dangote is contributing $7 billion in equity?

5. It is the largest industrial complex in Africa?

6. The project site is larger than Victoria Island. It is located on 2,135 hectares of Land in Epe, Lagos near the Lekki Free Zone?

7. Work goes on the site, 24 hours a day, 7 days a week?

8. World Record 2.72 million accident free hours recorded on site, without a single lost time to injuries?

9. It is the largest single train grass roots refinery in the world with a processing capacity of 650,000 BPSD?

10. Dangote Group brought in the world’s #1, #2 and #5 sand dredgers to sand fill the site. 60% of the land been swampy. So far these dredgers have reclaimed 13 million cube meter out of 30 million cube meter?

11. Dangote is investing over $7 billion (1.4 trillion Naira) in the project?

12. It is the largest single train refinery project on the planet?

13. When this project comes on line, Nigeria will save a minimum of $10 billion a year on imports?

14. The Ammonia component of the plant will produce 2.8 million tones of Urea?

15. Dangote is producing its own electricity to power the plant and by so doing is saving 75% cost? 

    ( Dangote produces electricity at a rate that is significantly cheaper than the Federal Government.          Dangote’s cost is $400,000/MW, while Federal Government is $2,000,000/MW)

16. All the civil engineering is done by Nigerian companies?

17. The plant has an export value of $6 billion per annum, meaning Dangote’s efforts will increase the amount of foreign exchange in Nigeria’s foreign reserves by at least 40% of current value on a yearly basis?

18. Dangote said when this project comes on line, his friend Femi Otedola will save at least N26 per litre on millions of litres of diesel and petrol which his companies import annually. This savings will be passed on to the consumers and it will take a lot of pressure off the banks?

19. Billions of Naira was paid to acquire the land and to settle the existing communities. More money was allocated and spent to relocate the existing communities?

20. This project will restore the dignity of Nigeria, a crude producing country that has for years gone abroad to meet its demand for refined products?

21. Refined products to be produced at the plant include and not limited to propane, petrol, Jet Fuel, Diesel, Kerosene, Carbon Black, Polypropylene, Polyethylene, etc?

Imagine what this project will do to her host community and the Nation at large. If you don’t own property on this axis by now, the time to do so is NOW!

Interested in properties close to the refinery? Contact DeCEO Homes via text on 07031806506!. 

How about a return ticket to dubai for FREE!!!.

Introducing RUMI Properties, a leading real estate company located in the heart of Lekki-Epe expressway, whose vision is to make home ownership available for all and sundry. This November promises to be exciting for all her consultants and clients who have been dedicated to the business. Its even more exciting for people that do not have an idea about the business. Hence an invitation to her November success summit where all gets a chance to win 

1. A goody bag (containing  what you can use now, later and forever)

2.  A Samsung tablet which will be given to five (5) lucky winners. 

3. A return ticket to Dubai for FREE!!!

4. Even more exciting packages for everyone.

VENUE; Jevinik Restaurant, No 21, Isaac John Street, GRA, Ikeja, Lagos.

DATE: 12th November, 2016. (This Saturday)

TIME;   10:00am 

For more enquiries: Send  your Name, Phone number and Email address to 08167455287      

                                                                                 

If you would love to have owned a piece of VGC, Lekki Phase 1, then, IBEJU-LEKKI should be your priority now.

Hardly would you know any sane individual drive pass or live as tenants in either Victoria Garden City or Lekki Phase 1, and would not wish or dream to own a piece even if its just half of a plot in the highly serene estates. It's probably everyone's dream; at least to own a property to one's name in those renowned estates. But the truth that makes some people gnash their teeth is that Lekki Phase 1 was once a swampy area known as Maroko. Lands were offered at the rate of N400,000 as at 1994 and some people  with very low foresight could see nothing in the future other than the swampy obstacle. Well...if you get a plot for N100,000,000 in VGC and Lekki today, I would advice you to embrace it; it would be a good offer.
Can you imagine those that got acres of land then at the rate of N400,000 per plot in Maroko, they are surely swimming in the pool of wealth by now; they will be making huge money as clock ticks.

If you were offered the opportunity to invest in Lekki (Maroko) and you missed it, then here is another brighter opportunity you may not forgive yourself if you miss. Come to think of it, Lekki phase 1 and VGC are not in the midst of any special project or sites that are influential in appreciating properties, those estates are just well structured with good layouts and with facilities that meet one's expectation. These a re small in comparison to other opportunities in Ibeju-Lekki.

It is undoubtedly that many landowners in Ibeju-lekki might eventually sell part or all of their lands to Banks, Hospitals, Schools, Filing stations and many other business entities. Why? Lagos is moving to Ibeju-lekki. Lagos started from Ikeja to Festac, then to Surulere.Later on, it was Magodo. At a point in time, it was VGC, then Lekki. Right now the New Lagos is Ibeju-Lekki.

So if you own a property (which you acquired at the rate of N700,000 per plot) where a financial institution would love to be situated, then be ready to be offered a blank cheque and fill it yourself. You know what? You can't wait for that moment before you take a step. Ask those that missed Lekki then, they will tell you.

Indicate your interest in any of our properties by the left hand of the screen or click here here and breakdown the payment plan to a year or 2 years. Before you know it, you have your properties in the same vicinity as Lekki Free Trade Zone (LFTZ), Dangote Refinery, Deep Sea Port, Pan Atlantic University, Fourth Mainland Bridge, Airport, e.t.c. and you know what that means - pool of endless opportunities.

Cullled from Ibejulekki.com

Interested candidates should send their Name, Phone No; and Email Address to 08029058846