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When I got to the park, the bus loading had only 2 yansh space left behind the driver but i couldn't sit due to my leg. My leg long small. I had to go sit in the other bus(next turn). Not long, two drivers had issues and they began to throw tantrums.
Though, I don't know what really happened between them but I picked something meaningful from their tantrums.
Though, I don't know what really happened between them but I picked something meaningful from their tantrums.
Mr A was abusing Mr B,saying, he is a slave,he has been a driver for over 7 years and has no vehicle(bus) to himself, all he does is beg people to give him bus to drive but as him dey, he is driving his own bus and not driving for anyone.
Mr B was just laughing and didn't say a word until Mr A said, Mr B has been driving and using money to run after women then Mr B voiced out and said "ewo idiot e leyi shaaa", I live in my own house which I've built for over 3years now and I've more than 5 tenants (3 using shops and some staying in a roomself).
Mr B was just laughing and didn't say a word until Mr A said, Mr B has been driving and using money to run after women then Mr B voiced out and said "ewo idiot e leyi shaaa", I live in my own house which I've built for over 3years now and I've more than 5 tenants (3 using shops and some staying in a roomself).
Mr A now replied him saying "iwo ti o rowo ra bus, nibo loti fe rowo kole". Though,I didn't doubt nor believe him because I don't know him. The argument and tantrums continued until one of the driver cautioned Mr A and told him that,he has passed his boundary.
He continued, saying, no matter the issue,he shouldn't have said Mr B is a slave and has no bus of his own. He said, this person doesn't have a bus doesn't make him a slave, at least, he has his own house which he was there when Mr B threw a mini party to celebrate it. He said, having a car or bus isn't an achievement. He decided to invest on land rather than a bus which is even more reasonable. He used himself as an example saying, he has two buses but he is still praying to God to help him so he can get a land and start his own building because he's tired of paying house rent and the expenses of maintaining the two buses is killing coupled with his children and wife.
I no wan long talk, you see ehn, this kinda attitude is common among lagosians, they believe once you don't have a car, you haven't achieved anything in life forgetting the fact that, the car can write off one day because everyday of our life is filled with uncertainty, you don't know what can happen at any time.
I no wan long talk, you see ehn, this kinda attitude is common among lagosians, they believe once you don't have a car, you haven't achieved anything in life forgetting the fact that, the car can write off one day because everyday of our life is filled with uncertainty, you don't know what can happen at any time.
I know someone who lived large, had a car and pays over 1m for house rent but baba no get half plot. This man keeps saying, he doesn't want to build any house, he is planning to buy, na that plan the man still dey till everything about him changed. No money again, nothing nothing, he is now staying in a kind of house he prayed not to stay as a tenant.
Yes, I understand that, you can plan to buy a house because you don't want omo onile issue but how certain are you about the plan because man propse and God dispose. Why not start from somewhere and once the money comes, you can then buy another and sell the first one you built yourself. Go to Ajah, Lekki, Obalende, Ikoyi etc, people like that plenty for there.
I pray God answers our prayers quickly and in the process of waiting for prayers to be answered, I pray God open our inner eyes and our brain to take necessary actions when need be.....
Yes, I understand that, you can plan to buy a house because you don't want omo onile issue but how certain are you about the plan because man propse and God dispose. Why not start from somewhere and once the money comes, you can then buy another and sell the first one you built yourself. Go to Ajah, Lekki, Obalende, Ikoyi etc, people like that plenty for there.
I pray God answers our prayers quickly and in the process of waiting for prayers to be answered, I pray God open our inner eyes and our brain to take necessary actions when need be.....
Some people just like unnecessary bragging ,why shaming another human being based on your achievement in life forgetting only God knows tomorrow, aye asan pẹlu wahala
ReplyDeleteWhy build a house when your business can build one for you? I think the argument can be made that it is better to build your business to the point that it is big and profitable enough that it can build a house than it is to take huge sums of money and sink it into a building project. Any money tied down in building is money that can't generate immediate income.
ReplyDeleteYes some may say you get peace of mind from not paying rent anymore and that's fine but imagine 10m to 15m that would have been used to build a house channeled into business with constant returns and profits. From the profits, you can start building your house and you still have your business generating cash flow for you.
This is all dependent on your level of risk tolerance though.
@DOGgedity, it’s not everyone that is wired for entrepreneurship. Some were wired to be investors.
DeleteSome of us ploughed our salaries and savings into various money market instruments where we enjoy the power of compounding and real estate(rental properties).
The more returns you get is ploughed back into the real estate business or whichever is doing great at that time.
Do you know what rental income is saying now? What about the value of properties?
I know someone who keeps re-investing and now has about 100flats with tenants…the annual rental income she gets, she uses to buy or build another property.
Diversify is what makes the economy thrive.
Your analogy is sound but in the case of wage workers with limited skills, education and time, pouring money into a third -hand vehicle where the only variable under your control is the human sitting in front of the steering may not be the best. Some have lost their livelihoods and lives on the road and as they age, opportunities reduce.
DeleteAfter buying the vehicle, the lifespan of the engine and other parts, fuel prices, state of road, formal and informal taxes, paying a conductor, union dues, depreciation etc may make it difficult for someone who has tied his liquidity to a liability like a vehicle to buy an additional one or expand his danfo/korope business. I even think tricycles or motorcycles may be a better option for people who have money to purchase a car but cannot afford running one. The economics of being an Uber driver do not actually add up- the house always wins while the drivers bear the costs and risks. It's when the car has been pulverized to near death and it's still running that the owner can net something till the engine taps out. This is why those on their 2nd new Uber car abroad only do so with a car note- money for the upgrade can't be saved up.
In Mr B's case, he realized he has a better option of amassing cash now that he is still able bodied and without the burden of paying a conductor, vehicle costs, insurance, repair/maintenance/older kids/ physical illness etc to amass capital that will address his highest cost (housing) and provide steady income. He can now save comfortably for a vehicle (okada, marwa/ korope) with the money he would have paid for 2 years rent + tenant rent if saving at the same pace. . He can save for a borehole or water business or establish his wife to sell from one of his shops. Businesses like sewing, pepper soup joint, foods like eko, okpa, petty groceries, Koko, are more profitable if you don't worry about rent. Items with longer shelf life eg chin chin are easier to prepare in bulk of you own your kitchen and have space. She may even add a POS stand. That way, his wife is empowered and can work from home, saving more. He is more credit worthy and with better recognizance in the eyes of their chairmen who run rent to own schemes in their union.
It's a different world for artisans/low/no skilled workers and people with no steady income. Many actors, white collar we workers and others postponed this step till it was too late in a system where it's simply financially impossible for governments to subsidize continually. Those who refused to buy land 4 years ago have missed the boat for another few years. Others are laying their blocks room by room while rent climb fast.
Mr B has invested in himself more than Mr A, he collected rent even shop rent while still being a driver.
Delete#wiseDecision
Why build a house when your business can build one for you? I think the argument can be made that it is better to build your business to the point that it is big and profitable enough that it can build a house than it is to take huge sums of money and sink it into a building project. Any money tied down in building is money that can't generate immediate income.
ReplyDeleteYes some may say you get peace of mind from not paying rent anymore and that's fine but imagine 10m to 15m that would have been used to build a house channeled into business with constant returns and profits. From the profits, you can start building your house and you still have your business generating cash flow for you.
This is all dependent on your level of risk tolerance though.
What's the percentage of businesses that succeed for up to 10 years? How many workers can afford to feed from their businesses? How much will you constantly need to raise/ risk for your business monthly to have a chance not to talk of profit?
DeleteIt is better he secured housing now. He can save up and use the capital from the sale of this house to buy a better one when he sets up a business or increases his earnings.
I took a 10year mortgage . Its convenient for me cos rent is not a joking stuvs
ReplyDeleteMr. B is smart. If you own the bus then you are responsible for everything to do with it, insurance, licensing, mechanics, tires, oil change, upholstery care, all that is the owner’s responsibility. Mechanic bill alone will give you ulcer, let someone else deal with the headache and you just use your money for your life. Owning a business can be the worst investment ever if it doesn’t work out for you.
ReplyDeletePinky, this your story reminds me of a Mummy, a widow who worked as a Cleaner years back. Many staff looked at her as a mere cleaner until this woman invited them to her house opening 🏠
ReplyDeleteLife is fleeting, only God can see tomorrow 👀
Nice one Pinky. Wise thought.
ReplyDelete