- Nguea Dipita, a man who teaches people on how best to use their money, has advised against building houses without streams of income
- Dipita added that people who do not plan their resources well may end up tying their wealth down in liabilities
- Many social media users who reacted to his opinion did not agree with him about a house being a worthless investment
He started his teaching by talking about an abandoned structure in his neighbourhood that the owner has been building since he was in primary school.
Grow your streams of income
Dipita said that up till now, the man is yet to complete the structure. He argued that the biggest error people make is to immobilise their money all in the name of building houses.
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He stated the best thing a person can do is to invest their active income and compound the interest from the income into another investment.
According to him, the smart way to start building is to use the interest from a third investment move. Many people expressed mixed reactions.
Watch the video below:Legit.ng compiled some of the reactions below:
Dale carnage said:
"It happen to me in 2011 I ended selling the house back up to now I’m thinking about that mistake I do."
"Invest in what then? that is the real issue."
"House is not a liability don’t confuse people,ok fine if u invest in business wat will use the money for many people na still to build house."
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Collins Maka said:
"Sometimes the rent you pay every year can build a house."
Dav Mak368 said:
"This is not a liability Sir, value of the land and the building materials now compared to when you were in primary ain't same now."
"This is what happened to me, since 2019 I started the house project till now I have not roof the house talk more of finishing it."
"Great advice my mom has been telling me this…build even cheap rental houses,even if it’s iron sheet only…"
Another man advises against house building
Meanwhile, Legit.ng earlier reported that a young man known as Emmanuel on TikTok spoke about investment and how to build a steady stream of income.
In a short video, he stated that buying property in Nigeria is not a good investment. He noted that the only time that a person can do that is if one does not need the money.
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"If you have a business that has the potential of giving you money, invest your money into your business, forget building house, pay your rents. Manage the rent, stay there, build the business..."