Real estate management is a broad topic that it is likely you have an interest in it; this is why you are reading this.
Before, we dive into some of the goldmine; here are some satisfying figures, just to whet our appetite.
Do you know that some people make ROI of more 200% on their real estate investment without moving a muscle? The popular McDonald’s boss once said “the majority of his income comes from real estate investment”.
So how can you tap from this 21st-century goldmine as a Nigerian in Diaspora looking to tap into the real estate sector in Nigeria?
Real estate management can be further divided into further branches like;
- Real estate developer
- Real estate investor
- Real estate flipper
These three (3) are the main branches we will share with you on this post. Some basic factors that need to be considered before delving into any of the branches are;
- Infrastructure Available in the Location You Choose: Before choosing a place to start your investment, one of the main attractions is the presence of schools, industries, malls, places of worship, parks, somewhere that will most likely be a draw to humans and might necessitate them to settle down. This will serve as your catch to instigate such investment in that area.
- Availability of Basic Amenities: One of the most basic needs of man is light and water, a place lacking in these things will find it difficult to attract profitable Real Estate investment, no matter what infrastructure is in place or how beautiful the house and the scenery is. So it’s important to ensure your choice of property comes with a promise of near-constant supply of light and regular water supply.
- Availability of Jobs: The area must be such that it has proximity to the place of work; a land close to commercial centers will attract more money than that which is far away.
- Trade: The location must be such that trade is encouraged, not in an isolated center that it takes hours and days of travel before traders converge. This discourages prospective buyers from purchasing such properties.
- Road Network: This is very important. The road network has to be such that it won’t cause the buyer to constantly repair his/her vehicle. Also, such properties must be close to the road for easy mobility.
- Security: Security of lives and property has to assured too before a client decides to patronize you. So the location of the property must have facilities in place that guarantees the safety of lives and properties.
- Real Estate Developer:
As I said earlier on, some people are making millions through real estate investment and yet, they aren’t moving about doing anything. How does this work?
As a real estate developer, you’re a patient investor as you’ll pick a land and build the desired structure you want, then lease or rent it out; you can out rightly sell it off too. It depends solely on your mindset and how you want to go about it.
Real estate developers are of two kinds – the residential and commercial ones. The residential is mainly focused on obtaining and developing housing structures while the commercial is after developments that are meant for businesses.
These commercial lands are usually more expensive than residential lands, even though construction of offices will most likely require less amount of money compared to housing structures.
- Real Estate Investor:
These are business angels or ‘idle’ partners that are too busy to get involved or not interested in the construction and monitoring of the properties, all they exist for is to provide the finances required with an agreement of sharing ratio to fairly allocate profits when ROI starts coming in.
- Real Estate Flipper:
These are a unique type of businesses that require an eagle-eyed investor who sees the quality in untapped resources and converts it to finished products to resell and make returns.
Some are just interested in taking a dilapidated building or an abandoned structure or an overlooked uncompleted structure and they commence work on it till it reaches completion and either lease it for a while before selling.
With this information, how can you benefit from it?
If you have some funds, you have an idea of what you want but you’re abroad and need a trustworthy agency to carry out your objectives for you. That’s where we come in.
At FirstleadNG, our job is to give you the platform to be a homeowner, earning substantial passive income, and enjoying quality service delivery without any hassle.
We’ve created a robust team that will tackle all your orders and ensures prompt and effective delivery of your goals.
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