The founder of Nairabet and the honourable member representing Egbeda Federal Constituency Oyo State at the House of Representative Nigeria, Rt. Hon. Akin Alabi recently retweeted a post with thoughts that revealed his experiences in building houses for rent.
According to Oloye Akin Alabi, he will never build houses for rent again. He considers that line of investment as an unfavourable investment for him.
He said he built houses for rent from 2013 to 2019 as an active investor in build-to-rent for the full five years, in the year 2024, he is yet to change his mind on the decision he took a few years back to quit that line of investment.
Drawing further from his tweet in his official and verified X (formerly Twitter) social media handle he said he has sold some of the properties he acquired or built for passive incomes through rents.
Portraying his generosity, he said that he gave out some of the properties (the ones yet to be sold) for people to live there rent-free.
From his analysis, he is among the investors who did not make money from building houses for rent which made him quit such an investment move.
In ending his retweet with thoughts, he considers building for people to live rent-free a better generosity in providing shelter and solving the housing deficit.