HIGHER PURCHASE BUSINESS MODEL
Some years ago, I bought some Keke napep to sell on higher purchase. I would get riders who would be paying me weekly for about 60 weeks then, they would own the Keke once they complete their payment and I would have made about 35% in profit.
Now here is my take on this business model.
No 1: Most people think this is a cash flow investment whirl intact or is a capital gain invested because after 60 weeks you do not own the asset anymore, all you have is your capital plus interest.
No 2: It is also not really a passive investment as you find yourself most times chasing after the riders for payment or having to change riders midway because of their non challance. Some people are their own problem and there is nothing you can do to help them.
No 3: It is indeed a profitable business model however, due to unforeseen circumstances nobody would pay up in the stipulated time and you have to be disciplined and stern to make your money back.
Even though it is profitable, it is not something I will like to do again.
Ehikioya Nelson Oseghale
FLG PROPERTY LTD