Real Estate Investment may just be the idea you need to explore as you make some money and intend to invest the cash into some near, medium and long term investments. These investment vehicles serve different purposes and you may want to consider what your objectives are in deciding how to invest.
What is Real Estate Investment?
Investments in real estate may be one of those medium to long term investment opportunity for you to consider. When I say real estate, this may range from purchase of land in developing areas to purchase of built properties. You may also want to consider buying stores or offices for rentals.
It is no joke that one of the most secured and profitable dynamics of investment is the purchase of landed properties especially when done right. A personal experience has convinced me that when done properly, it is a potential gold mine for the future. You can imagine a land bought today and in about two weeks it is already selling for a premium of 30% just because of some government planned action for development like passing a major road through the area.
So what should be your strategy for purchase of landed property?
Depending on where you want to play and how much cash is at your disposal, nothing bits buying at the periphery of a city that is growing at a very fast rate like Lagos. Consider the Mowe, Ibafo, Ikorodu and currently Ibeju Lekki axis of Lagos. Buying land in Estates like Arium Estate, Westwood Estate located within Ibeju environment can just be one smart move for the future. Now before you go out to buy, you may want to consider these issues:
Is the area a government acquisition or not?
This you can solve by asking for government gazetted excision of this property.
Are there any development plans for this area?
Consider buying houses within planned developments. This usually helps to quickly grow the property worth of the area. Also, you can be rest assured that those types of environments will not become slums in the nearest future.
Are there development charges to be paid?
Most of these estates have associated development charges to be paid in order to bring development to the estate. It is usually advised you buy within these estates so that you will be free from omo-onile harassment. Also you can share the burden of area development within a planned estate development program.
So what was my personal experience?
Well sometime when I started working in 2007, there were some estate pretty well organized along the Mowe axis that was introduced to me. I invested about 650,000 naira then in a single plot. Move some years down the line, the value of a single plot has done over 200% and still counting. If you ask some of my colleagues then who refused to buy, they probably would have spent the same amount doing some other stuffs which they can’t account for today.
How do you start today?
You can start small with as little as 600,000 Naira and get some really decent land in the Ibeju Lekki axis. Estates are springing up every day here and it is probably the next major Lagos township growth. I can recommend some good estates within Lekki environs and if you will give me a call on 08183626544. You can request for site visits in order to inspect these properties. In subsequent posts, I will be showing you some real cool bargains that can make you tons of money in the future.