How to Start investing in Real estate with what you have
In Visuals, real estate has been a hot cake and still rising because of the industry.
Few years back, just a number of Nigerians owned a home. Information is the key to bridging this gap for potential investors and the general public. In addition, by simplifying the process, the barriers to investing in the sector can be broken down.
Check how to invest with what you have. No matter the amount, real estate will always appreciate.
1. Do Your Research
If you are interested in the property market, there are various platforms to find the information you need. You can either check google on where to get new listings or subscribe to our newsletter where we give updates, also you can set google alerts on updates. Above all, do your research.
2. Decide On The Specific Property Market
Decide on a sector that will benefit you the most based on your goals. it can be Residential Real Estate,industrial, commercial etc. it is best known to you as you know the return you are looking for. Decide yourself.
3. Identify Booming Real Estate Markets
Though they may not be booming now, infrastructure development and ease of access to central business districts may change that soon. When a highway is built, it eases traffic, and the working class tends to move in that direction, making it a good reason to construct high-rises to rent out to them.
4. Check your Budget
Depending on where you are in life, the source of financing may vary. But no matter the funds, real estate will surely appreciate. don’t get me wrong. I’m not talking about small funds of 10,000NGN etc.
5. Consult Right
Be careful not to enter into business deals with unreliable people. Consult an expert, a lawyer, and make sure everything is sorted out correctly, from the government requirements to the owner’s concerns. You can check our article on “steps to take before investing in real estate” to get more educated on the steps.
6. Know and Act The Law
Owning a property is one of the rights of a Nigerian. However, the 1978 Land Use Act gives state governments control over land within their borders. They then make it available to you after an elaborate and bureaucratic process. In order to use the land, i.e. sell it or develop it, you will receive a certificate of occupancy.
7. Focus on Future
Sometimes there may not be basic infastructure on where you invest presently but at the same time, focus on the future and don’t loose insight of big market. The location may be one good option that will yields multiple millions over what you invested. Above All DYOR (Do your own Research).
When it comes to investing in real estate in Nigeria, the best decisions are the ones that serve you, the investor. Sit and Consider your time, funds etc and get the best for yourself. Meanwhile you can have a sure agent that will assist in making decisions. You can check us and book an appointment with Riel Homes.
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