Did you know that over the years, investing in Real Estate is like having gold that never fades? If you have been thinking of how to invest in real estate in Nigeria, we want to unveil to you some of the hidden truths that will help you own a piece of this gold too.
As a Nigerian in the Diaspora, you have heard that you need to have a lot of money to start. You may even be worried and scared of investing, as you have also heard of different stories of land theft and fraudulent flipping practices.
This is why we want to arm you with the right information and secrets that will give you an excellent beginning while you build a secure future for yourself and your family.
Here are four major points to consider while investing in real estate in Nigeria.
- Location. Location. Location.
Yes, we wrote that three times – that’s how important this point is.
This important feature will largely determine how profitable your investment will be now and in the future, on any of your Real Estate Property.
The keyword to think about in terms of the location of your property is ‘commercialization – the closeness of your property to a commercial hub.’ It may be a tough process for you to determine how ‘commercial’ your property is if you don’t have a thorough real estate investment knowledge.
If your land is strategically positioned around a commercial hub, it has the tendency to multiply geometrically within 12 -18 months of purchase and either you flip the land or develop it before it’s released on lease or rent; there is a high level of guarantee that you’ll get a Returns on Investment (ROI) within the range of 60-100% in less than 2 years.
For example, what happened at Sangotedo (a community in the Lekki peninsula. It is situated along the Lekki – Epe Expressway in Lagos State), an expanse of land located behind Shoprite was newly advertised in 2017.
At that time, a plot of land sold for 8.4million naira. The smart people took the risk, and in just 17 months, the same plot of land sold for 14 million. Here’s the best part; people were still lining up to buy at the latter price. Now, in 2020, a plot of land in this location is in the range of 20-23million naira. Don’t sit on this information; be proactive.
- Land Policy
This is important because a host of unsuspecting Nigerians living abroad may not be aware of the policies that are active in the country anymore, so it is likely that a crooked agent can buy you land that belongs to the federal government or reserved for military purpose.
They will produce fake papers to back up their claim, while you are happy that you now own land. Now, imagine that you already began the construction and development of your land, and then the real owners come in.
You lose all your cash and curse your luck. We don’t want you to be in this kind of situation. This is why we have introduced an innovative initiative at FirstleadNG. You will have access to the history and full details of any property you get from us.
To top it all, you will have real-time access to any development or construction happening on your real estate investments. All these can be done from the comfort of your home.
- Relative’s Intervention
Now you’re wondering what this is about?
The majority of Nigerians abroad have relatives living in Nigeria, so it’s easy to say, I’ll send the money to my Sister or Uncle living in the country to make Real Estate investment on my behalf. This may be a good idea, but many people have come to us, saying this approach backfired so many times.
What a big mistake! Think about this – the relative you’re sending money to, is the person a certified Real Estate agent? Is that person a Lawyer, in the military, or working in the civil service? More importantly, as strange as it may sound, is this person trustworthy?
Dear Nigerians living Overseas, please don’t send money to just anyone to make real estate investment for you, unless you can answer yes to one or more of my questions above.
This is why it is better to consult a certified Real Estate company and with years of experience while you can allow your relatives to do a follow-up on your behalf. With FirstLeadNG, you can sleep with your eyes closed, while your property investments are safe and secured.
- Will you be a Smart Investor or the Safe Investor?
Again, information is important, and what you do with this information is what sets a smart investor apart from a safe investor. Eventually, both investors will earn, but the smart investor is more likely to have more ROI than the safe investor.
Why? A smart investor is usually the risk-loving type of investor. They do the prerequisite research on the intended landed property or trusted a Real Estate agency. They are fast mover, plugging themselves in Nigeria’s real estate industry to play in the long term while waiting to see their ROI climb exponentially.
On the other side, a safe investor is usually risk-averse, always waiting to see what happens with others before jumping on the train.
When the smart one is already raking in the multiples of four, the safe one, depending on when he joins, would most likely have half of the returns of a smart investor.
A point to note here, it is unlikely that you will become a Real Estate expert overnight just because you want to invest in the Real Estate sector in Nigeria.
This is your hard-earned money, and the least you can do is make some base research to know what’s obtainable in the market, ascertain the best Real Estate agency or person that would be of best service to you.
This way, you can’t be caught unawares, and you can sleep easy knowing your investment is safe and secure.
Are you ready to move and make the leap to become a smart investor? You came to the right place. We can help you with that, what are you waiting for? Contact us at FirstleadNG today, and let’s get you started on this journey of being a Real Estate investor.