From Dream Investment to Jail: My ₦38M Real Estate Nightmare
I poured my entire ₦38 million life savings into building four rental flats. I thought passive income would free me from work by 40. I never ran the numbers or factored in upkeep. Tenants moved in and at first it felt like victory. Then came endless repairs, noise battles and unpaid rent. Without a caretaker, I handled every issue myself. What I expected to be easy money became a daily headache. In 2021, a tenant named Joel stopped paying. He demanded a six-month legal notice and refused to budge. Frustrated, I hired “area boys” and forcibly evicted him. Hours later the police arrested me for unlawful eviction, and I spent three nights in jail. The court battle drained my time and cash. It took months and nearly ₦650 thousand in legal fees to resolve. I still own the house, but it’s far from stress-free. I regret locking all my savings in real estate and wish I had diversified. At least my children will inherit the property, a small consolation from this ordeal.
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