Young Man Makes Big Money Move, Pays N33.2m for Dirty House, Plans To Renovate and Resell for Profit
- A young man, Derrick, who is into real estate, has narrated how he bought a house for $80,000 (N33,220,800) with the aim of flipping it for a higher amount
- The real estate investor said that after some renovations, the price of the house could hit as high as $200,000 (N83,052,000)
- Derrick's clip stirred mixed reactions online as some said that he paid too much for the dirty-looking house
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A young man known as Derrick on Instagram who describes himself as a real estate investor has shared a video of his recently acquired property online.
In the clip, Derrick said he saw a house advert on Facebook and decided to pay $80,000 (N33,220,800) for it without even physically inspecting the building.
He plans on renovating the house
He revealed that the house is actually worth $140,000 (N58,136,400). A video he shared showed the house in a state of disrepair.
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The real estate investor stated that after making renovations to the house, the value of the house could shoot up to $200,000 (N83,052,000).
Watch the video below:
At the time of writing this report, the video has gathered over 600 comments with thousands of views.
Legit.ng compiled some of the reactions below:
"Wow! You've been had...this is awful."
"That aint worth no 140 grand. You got ripped off."
"This could’ve been cheaper."
"I’d of got it for 55k lol Jk keep rocking it bro."
"Scary but you can do anything you put your mind and physical effort to."
"80k could’ve found something nicer jus depends on where you located."
"Do you need additional permits or anything to add the extra bedroom?"
"Typically yes it just depends on location and regulations."
Man said he built his house in 5 months
Meanwhile, Legit.ng earlier reported that a young Nigerian man with the handle @harmsway7 went on TikTok to reveal that he finished his house in five months.
Sharing a video online, the successful man showed how it all began when the foundation was being put in place.
In another part of the clip, the structure was seen at the lintel level and about being roofed. When people saw the completed project, they were amazed. The compound was interlocked all through.