Real estate business in Nigeria is another avenue to wealth for Nigeria seeking a way out of there financial problems.
It is true that real estate investment is not for the faint-hearted but know truly well that there is a lot of money to be made there.
If you are still asking this questions, this post will help you out:
- What are the advantages of investing in real estate?
- What is the real estate investment?
- What is the real estate business all about?
- How can I invest in real estate with no money?
A lot could go south in Real estate business in Nigeria and you should be ready to weather the storm – Government claiming your land, other landlords encroaching on your land, stubborn tenants and so many other unforeseen circumstance.
You definitely cannot leave this business to just the real estate companies, it is only fair that you take your share off the cake of Real estate business in Nigeria.
It can be challenging but once you learn the ropes, it becomes a walk in the park for and you do not have to own millions to even start.
Have you ever thought about the price of land and properties around you? They were cheap at one time and as time elapses, they start to become expensive because they appreciate.
What Is the Real Estate Business in Nigeria
Nigeria is a large nation and has a market for everything you have to offer, below are some o the areas you can invest in the real estate business in Nigeria.
You can expand on this simple ideas and become a big player in the real estate investment world.
Land flipping is the buying of land and reselling it later for profit. This is one of the smartest investment in the industry and requires no effort whatsoever.
It is as simple as ABC, you buy the land for very cheap and when someone else wants to buy, you sell at a more improved price for profit.
This is an innovative way of making use of land in and spaces around your house or your vacant property, especially if it is in a very good and choice location.
You ca lease out to churches, business individuals and even farms and you will be making your money line a real estate agent in Nigeria.
Real Estate Agency
This is the easiest of them all, and this is the answer to those always asking, how can I invest in real estate with no money?
There is no investment whatsoever, all you do is to look for properties for sale or on rent and act as an agent in the business transaction.
You can also help to source for clients for people who want to sell properties, this is an innovative to make money from real estate business in Nigeria.
This is like the crux of real estate business in Nigeria, this is where the big players do their thing, and this is where the real money lies in real estate.
Imagine, if you spend N200 million to develop a property, be sure you are going to sell for N400million.
I leave you to your imaginations.
This is the real estate business I call retirement benefit. It is as sim0ple as building a house and getting paid in rent for the rest of your life.
Other Ways to invest in Real estate business in Nigeria
- Become a Real Estate Developer
- Legal Consultant
- Real Estate Surveyor
- Real Estate Blogger
- Real Estate Magazines/Journals
How to Become a Successful Real Estate Agent in Nigeria and profit from the Investment Opportunity
To Become a Successful Real Estate Agent in Nigeria is so easy and that is why I love my country, you just have to be ready to begin and things will begin to fall into place.
You do not even need to be affiliated with any real estate development company, but you have to tick the following boxes:
- You just need to be influential,
- Be able to convince people,
- Have great networking skills
- Be very straightforward in your dealings.
There are also associations and agencies that regulate real estate operations in Nigeria. For example, REDAN – Real Estate Developers Association of Nigeria. And you should know how they operate and register with them and get your real estate license
Basic Steps to put you ahead in the real estate business in Nigeria
You do not need to research on other real estate development companies in Nigeria and take a cue from them on how they operate, but this points will give you heads up:
1] Do some research on the terrain of real estate in Nigeria
2] Save up Some Money
3] Write your business plan
4] Make your real estate business legal and recognized
5] Get a well-equipped office facility
6] Hire professionals
7] Seek investment
8] Get landed properties
9] Open a real estate website
10] Create Some branded stuff
How to get Capital for your real estate investment
While you may not need too much money to begin, you will need money to put your business on the map of real estate recognition and become a well-known realtor.
You may want to come up with a comprehensive real estate business plan that sums up you’re ambitions and choices and get funding from banks and family to start your business proper.
Whatever you do however, be prepared to guide your investments jealously. Always do your due diligence before investing in any land or property to avoid being scammed or ripped off.
You must also have a legal consultant who would handle all the legal aspects of the business and advice you appropriately.