If you buy a land and build house just to escape HOUSE RENT, you are likely to remain poor or average.
Do Not Be Afraid of Rent!
Rent is never a bad decision.
Every billionaire you know is a tenant one way or the other.
For example…..
If your annual house rent 2 million Naira, and you feel that 2 million Naira is a big money to give to another man every year.
Especially because the money doesn’t come by that easily.
Then, you decided to buy a land maybe for 3 million Naira.
Of course, you know that this type of land is never going to be in town.
Then, you start building.
Let’s assume you just want to build a 3-4 bedroom bungalow which costs around 50 million Naira.
Then, you start saving up.
Every drop of income that comes, you put it there.
Why?
Because you want to avoid rent of 2 million Naira per year.
As you are putting money in this building, one thing you must know is that:
You have systematically tied yourself up in that location
Your re-investment into your business or career will suffer setback which is likely to keep your income stagnant or reduce your cashflow
At the end of the day, all you are fighting for is just to save 2 million Naira per year
You may lose valuable contacts because you live in outskirts of town.
Let’s assume you completed that building in 5 years. It means all you would save in the next 5 years is 10 million Naira
What if you invested all these resources and time into building your business within these 5 years?
As a young entrepreneur or career person, building a residential house should not be your initial priority.
Most times, residential house is more of liability than an asset.
This is what you should do….
When you start making money from your business or career, rent in a great location.
Preferably a well built estate in town.
It is far better to live in a Boys Quarter in a premium estate than to have your own duplex in a remote area.
Look into your business or career and find strategic ways you can re-invest a good chunk of the money earned so as to increase THE VOLUME and FREQUENCY of money coming in.
Do you know that many wealthy people build houses with RESIDUAL INCOME?
Until you are certain of your point of stay, don’t build.
Except if it’s a long term investment strategy.
EXPERT OPINION…..
“All Billionaires You Know Live on Rent”
They use bank’s money to do business - loan.
They lease most locations where their businesses operate - Rent
Most of the houses they build for themselves is not necessarily for their stay but for businesses too.
Finally….
It is better to be a wealthy tenant than a broke landlord.
Fix your income not your rent.
Do Not Be Afraid of Rent!
Rent is never a bad decision.
Every billionaire you know is a tenant one way or the other.
For example…..
If your annual house rent 2 million Naira, and you feel that 2 million Naira is a big money to give to another man every year.
Especially because the money doesn’t come by that easily.
Then, you decided to buy a land maybe for 3 million Naira.
Of course, you know that this type of land is never going to be in town.
Then, you start building.
Let’s assume you just want to build a 3-4 bedroom bungalow which costs around 50 million Naira.
Then, you start saving up.
Every drop of income that comes, you put it there.
Why?
Because you want to avoid rent of 2 million Naira per year.
As you are putting money in this building, one thing you must know is that:
You have systematically tied yourself up in that location Your re-investment into your business or career will suffer setback which is likely to keep your income stagnant or reduce your cashflow At the end of the day, all you are fighting for is just to save 2 million Naira per year You may lose valuable contacts because you live in outskirts of town. Let’s assume you completed that building in 5 years. It means all you would save in the next 5 years is 10 million NairaWhat if you invested all these resources and time into building your business within these 5 years?
As a young entrepreneur or career person, building a residential house should not be your initial priority.
Most times, residential house is more of liability than an asset.
This is what you should do….
When you start making money from your business or career, rent in a great location.Preferably a well built estate in town.
It is far better to live in a Boys Quarter in a premium estate than to have your own duplex in a remote area.
Look into your business or career and find strategic ways you can re-invest a good chunk of the money earned so as to increase THE VOLUME and FREQUENCY of money coming in. Do you know that many wealthy people build houses with RESIDUAL INCOME?Until you are certain of your point of stay, don’t build.
Except if it’s a long term investment strategy.
EXPERT OPINION…..
“All Billionaires You Know Live on Rent”
They use bank’s money to do business - loan.
They lease most locations where their businesses operate - Rent
Most of the houses they build for themselves is not necessarily for their stay but for businesses too.
Finally….
It is better to be a wealthy tenant than a broke landlord.
Fix your income not your rent.