How to Invest in Real Estate Business
Hi, I am interested in investing in real estate business in Nigeria. Please I need some help on how to go about it. I know Real estate it’s a little broad, but I am more interested in flipping of lands, house/ commercials rentals, and property developer.
Buying and selling of lands in Nigeria, especially in Lagos is the most risky aspect of real estate investment in Nigeria. 50% 0f cases in Nigerian courts are land related. Building house for rent is the most troublesome niche in real estate investment in Nigeria as tenant will make your life miserable. And the chances of getting your rent as at when due is less than 3%.
The most profitable niche in real estate investment anywhere in the world, including Nigeria is building houses for sale. If you invest N100million to build one house, be sure of selling it for more than N200million. It may take time to sell but when it finally does, you will be in money. There are countless of people looking for house to buy in Lagos and other major cities in Nigeria.
Real Estate Agency is another powerful aspect of real estate business that is generating money for the operators without much effort. Sometimes, little or no investment is required to get started.
The choice is yours to make. Go through the information here, carefully weigh in your options, and decide which to go for.
the issue with building houses for rent depends on the quality of house, the price to which you rent the house and most important the profile of the tenant. If you don’t profile your tenant, you will have major issues. So, this cuts the tenant WAHALA drastically.
DONT MAKE THE HOUSE RENT UNREASONABLY EXPENSIVE
TROUBLE YOUR TENANT BEFORE THE RENT EXPIRES WITH REMINDERS, this is very important