Top Tweets for #FXRisks
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The above is a simplified version of a real life situation but the names of the parties, property location and amounts have been altered.
#ManagingWealth #FxRisks #WO 22/24
The above thread shows that @segalink’s argument about property appreciation is legit but does not automatically contradict @eldivine and @gossyomega’s positions. Infact, they all provided complimentary view points on #assetportfolio management.
#ManagingWealth #FxRisks #WO 21/24
At certain levels, the focus shouldn’t be on only value appreciation (like Mr A) but also value conservation (like Mr B).
#ManagingWealth #FxRisks #WO 20/24
The takeaway is that HNIs in countries with currencies that are highly volatile (like Nigeria) must seek to balance their asset portfolio with a good currency spread to hedge against FX risks, in order to preserve value in their asset portfolio
#ManagingWealth #FxRisks #WO 19/24
It is unusual (but not totally impossible) for properties (with necessary legal documentation) to lose value except where the initial transaction involving the property was overpriced or in situations of general deflation, ceteris paribus.
#ManagingWealth #FxRisks #WO 18/24
I will ignore the statement made by @eldivine regarding the worth of the house dropping from N60M to N30M in that story.
#ManagingWealth #FxRisks #WO 17/24
Apart from this erroneous comment, all his other comments are logical 👇🏽
The above also addresses the concern raised by @dawuzi here - https://t.co/U6sxfZHZ8K - regarding @eldivine’s comment that a N60M property became N30M worth.
#ManagingWealth #FxRisks #WO 16/24
@eldivine This is quite puzzling to me. How would the value of a property decrease in naira terms. Especially in Lekki.
This is what @gossyomega was saying here - https://t.co/LZbCvnDRMM
#ManagingWealth #FxRisks #WO 15/24
@segalink Properties are sold in USD in Nigeria. Anyone who buys in USD 6 years ago by converting Naira to Dollar, would have lost value in USD by 2020 just from currency devaluation alone.
However, Mr B was able to hedge the Fx risk by holding a US$ denominated asset whereas Mr A’s property was held in a property market that is Naira based and valued (even if he had used US$ to settle the payment for the property in VGC).
#ManagingWealth #FxRisks #WO 14/24
It would have been worse for Mr A if not for the property value appreciation during the 20-year period that has been recognised. But why?
Chill. Take a pack of @ReelFruit to digest this learning very well.
#ManagingWealth #FxRisks #WO 13/24
Although Mr A made a gain of N40M on his inheritance amount of N60M (worth about $500,000 when he collected his inheritance), the foreign exchange devaluation (from N120/$ to N360/$) has decreased the value of his VGC property down to $222,222
#ManagingWealth #FxRisks #WO 12/24
This confirms that the property has indeed appreciated in value as @Segalink suggested here - https://t.co/GZC3jahMqg
#ManagingWealth #FxRisks #WO 10/24
A year one Student of Estate Management knows better. Real Estate Investment with valid legal titles has a hedge against inflation & will never decrease in value. If you want to sell an investment to desperate folks, this kind of example is too unrealistic to deploy. #RealEstate
Mr A‘s property at VGC has been valued at N80M based on a recent property valuation exercise that was done by Jeunkoku Olorinla & Co, a firm of Estate surveyors and valuers.
#ManagingWealth #FxRisks #WO 9/24
Due to their interest to jointly apply for a bank loan, the two brothers invited @Roedl_NG to prepare a special statement of their net worth in NAIRA (and a separate one in dollars), based only on their real estate properties and bank balances.
#ManagingWealth #FxRisks #WO 8/24
Mr B, a career engineer with strong finance knowledge, went to EKO hotel to convert the money to dollars. He deposited the $500,000 into his bank account in Sterling Bank, the “1-Customer” bank.
#ManagingWealth #FxRisks #WO 7/24
Really, Mr A is like the person that @eldivine is talking about here - https://t.co/bag6VkzxXs
#ManagingWealth #FxRisks #WO 6/24
The most heart breaking story I heard this week. Someone shared how he bought a house in Lekki for roughly 60M in 2014.
The house is realistically worth maybe 30M naira today.
So he bought it for $390,000 in 2014. And it's worth about $70,000 today.
VALUE INCINERATION.
The property earns N2M annually in cash from the house rent. This means he has made another N40M (N2M x 20 years) while also still owning his house. He saved his N60M rent income in Standard Chartered Bank.
#ManagingWealth #FxRisks #WO 5/24
Mr A, an entrepreneurial minded person, bought a very big house in VGC with the N60 million. The house has valid legal title and has obtained the “Governor’s Consent” on the Deed of Sublease.
#ManagingWealth #FxRisks #WO 4/24
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