Investing in real estate is one thing that is needed for anyone who wants to get rich or stay rich. This rule does not apply only in Nigeria, but in most countries of the world. The beauty of real estate is a large percentage of profits in a very short time, in addition to the high level of security of your investments, if done correctly. Buying and selling houses or land is different from selling in vegetables that can die if not quickly sold. The price of a car begins to depreciate immediately after purchase, no matter how well it is maintained, but the value of your land or house continues to be appreciated, even if you leave it abandoned for many years. Good real estate investments are still appreciated, and you can get up to 100% or more of your investment in a short time. Real estate currently works great in Nigeria, and investors are making millions of Naira from this sector. Interestingly, this is an area in which everyone can invest, no matter how much he earns or earns as a salary at the moment.
Listed below are various ways of investing in real estate in Nigeria and making good profits.
Land Sponsorship: There are many families who own large hectares of land, but do not have the money to make a survey plan and the necessary documents from the government. These landowners agree with a sponsor who is willing to finance the process of inspecting and authenticating property in exchange for a certain number of agreements or plots, as already agreed. Typically, the sponsor is awarded a plot of land per hectare, and depending on the size of the property, he can receive up to a hundred plots of land or more in a single transaction. The land can be immediately sold out by the sponsor with a good profit, or it can wait and sell it a couple of years after the value of the property doubles.
Buying real estate from real estate developers: you can buy real estate from real estate, resell real estate in a few months and get a good profit. This is due to the fact that properties located within the framework of real estate development are estimated to be rather expensive, as developers want to recover their investments in the shortest possible time. These developers also offer flexible payment methods to attract investors, and you can cash in on this to make a profit on the size.
Renovation of the old building: you can buy an old house, remodel it and sell it or rent it for a good profit.
Land leasing: you can buy a plot of land and lease it to businesses that need open spaces for work. These businesses include car washes, car repair shops, or any other business that may operate in a temporary structure. You will earn money from rent, and the value of the land continues to be appreciated. The beauty of renting land is that the land does not suffer from wear and tear like buildings, and you can sell your land at any time and leave with a very good profit.
Property Development: This is one of the most profitable real estate investment opportunities, as you can get hundreds of millions of Naira profits in a reasonable investment decision. You can buy land in advantageous places, develop and build luxury apartments and sell at high profits. However, this business requires a lot of money, but you can submit your business ideas to financial institutions and form a partnership where you will be developing, and they will finance the project.
Possession of commercial and residential real estate real estate: Commercial office space today is not cheap.
Residential facilities are also good sources of income these days, and some properties congregate for fifteen million Naira per year or even more in some places. You can rarely make the mistake of owning rental property when you make money on rent, and your property is valued. However, this is a long-term investment, and you should be prepared to see it through.
How to own a house for five years with your current income.
Here's how a low-income income could build a house and become a landlord in Nigeria as soon as possible. It is best to save a percentage of your income no matter how small it is, and at the end of each year use your savings to buy land in an undeveloped area, which shows the prospect of a quick estimate over the next few years. In Ibeju-lekkah, where territories are sold for less than two hundred and fifty thousand naira. The real problem here is to identify areas that will develop quickly. This is not a problem, because there are many ways to tell whether a region will develop quickly or not.
Now, having the opportunity to purchase a plot of land with your small savings at the end of the year, repeat this next year, and you would understand for yourself five different plots of land in different areas for five years.
Now you can go ahead and sell four of the five plots of land with big profits, and the proceeds build a suitable house for themselves on the remaining plot.
This is one of the ways that an average native can create and own a home with relative ease, and this is a method that has worked for so many people in the past.
But, as I said earlier, there are also rules that a real estate investor must follow in order not to make bad investments or become a victim of fraudsters. I have listed these rules and the steps that need to be taken to secure your real estate investment in my next article, "Guide to Real Estate Investment in Nigeria."
