Need advice.

I just open this new id to hide my identity

Am a young guy of 29years and married with a kid.

My work is not going fine as of now unlike before.

I have a car which i am using before and which i already sold to add with the money with me to get a another car in other to use it for uber (partime).

The problem now is am owning my landlord the sum of 100k to balance up my rent which will be due by January 2020.

Though i have build a house in lagos area (totowu to be precised) and its completed.

The total amount that i will need in other to put the house in order is around 600k - 700k such as (painting, electricity fittings, solar, transportation of my loads to the place included e.t.c)

Moreover, i have been using a car for the past 5years and as of the last 1month i have not been using any and its affecting my movement and that of my small family and its bothers me alot.

So am contemplating now maybe to use the money to buy a car or to use it for the house so i can move in with my family.

Moreso, i already have a tenant in the other flat in the house which pay me around 150k per year too

Though if i buy the car i will be only using it for a part time uber not full time and still trying to revive my business back.

Please my people i do need your advice regarding this.

Feel free to ask your question and i will gladly reply. plss no insult

Money is power. Keep the money. Find someone you can use his car for normal transport business to remit weekly funds. Within two months you'll generate funds for the house rent. Then watch how things pan out after the house rent payment.

Pay your current house rent.If you still can raise enough money,buy the car and start the Uber business.
The completion and moving into you house will be an ongoing process as more funds come.

I understand your frustration with not being mobile after owning a car for a long time, however, nothing compares to being debt-free. If you've been "hooked" by debt, trust me you won't even be considering it, especially in Nigeria.

It's the likes of Dangote and Andy Una that can be in default of billion dollar debt and still sleep well at night. Most people at the bottom, will not have rest of mind when owing.

Settle your debt, then consider your comfort or business .

The best thing should be seeing ways to revive your business, if possible.

Secondly, consider buying the car as a form of investment, this income can keep you going while you’re reviving your business as well as raising funds for your house project.

Thirdly, never throw the money into the house, otherwise, you fit sell that house to raise capital before Buhari finish his second term.

If the kind of business you do(and that of your wife) is close to your current location, it's best for you to put the idea of relocation on hold.

It doesn't make sense to move to your house in the process of saving yourself rent and starve. Especially if your own place is not well developed yet.

Secondly if mobility is vital to your business then buy another car but if it's not, put the money to revive your business. Through it you will get the ballance for your rent before it becomes due.

Hope this helps

Your current tenant pays N150k yearly, yeah? So it means it would take around 4 years and 6 months to realise the 700k you estimated for the completion of the other flat. What a waste.

That 700k (with a little more) on a car will turn-over that amount in 6-12 months.

Better to remain a tenant with a stable source of income.

I will advise you to put the money on the car and I hope you will be able to get the money for your land within a month through the uber hussle while you face the house issue after sorting your land lord