7 Best ways to start real estate business in Nigeria.

Introduction:

Hello guys, i will be taking some time to share with you the best ways to start a real estate business in Nigeria and possibly expand to other African countries and globally as your dreams leads you.

First of all, this is my first time writing on this blog, i just created it. so, give me the privilege of introducing myself. my name is Uhuo Anthony Chidera. for convenience purpose, friends call me Tony Uhuo.

 Although some friends who find it difficult, pronouncing my ancient Ezza land (Ebonyi state) given type of surname simply call me Tony Gad, where Gad is the Hebrew's name of the seventh son of Jacob meaning "luck". 

However, it may interest you to know that i have spend some time practicing real estate business in Nigeria as registered/verified (REB) real estate broker. enough about myself. you can comment below the post to tell me about yourself, yes you! i will like to hear from you and rob minds together. 

Just know that in this article, i will be taking it one step at a time. to guild you to start your real estate business to improve your passive income and enrich your assets column.

 I advise you to exercise some patience and read this article very carefully and understand it word to word, before going into real estate business market as a broker, developer or as an investor in Nigeria. because we all know that Nigerian as a country has no laws and most inhabitants are tricky, selfish and lack great massive discipline.

 Those factors must be considered well before the business game because it might make you waste your time and funds in the name of doing business in Nigeria. often you see people quit their job to start real estate business because they saw how financial free their neighbors who are real estate investors. with that zeal and zero knowledge, they're likely to do business with the wrong people and use wrong strategy. this situations makes them fall victim; even with high degrees in property evaluation agent and other real estate courses.

 But i'm here with this simple guild because i have been into the field numerous time and taken time to make this post as simple as i can. i promise it's going to be brief and interesting.

The 7 best ways to start real estate business in Nigeria without money.

1. Getting started.
2. Choose your area of specialization.
3. Real estate brokerage in Nigeria.
4. Condo services.
5. Real estate developer/property developer.
6. Land banking.
7. Become an Angel Investor.

1. Getting started.

If you're a student, trader or employee in any organisation and you desire passive income to supplement yourself and when the earning income grows equal to your salary then you can switch for a life carrier in the business of real estate.

You need to get started by planning for the journey ahead of you and clearing the road to harvesting the opportunity in real estate business.

Nigeria is a virgin land, from many investors stakes so far shows that the best place to grow a massive wealth in real estate business is Africa and Nigeria in particular because the country is the most populated country in the continent of Africa.

So if you have made up your mind to get started, to learn the business i will recommend you go through the lessons below. to serve a vehicle that will lead you into the business and what to do first in order to become a real high income estate earner in Nigeria.

The best way to get started is by knowing the types of real estate and become familiar with them.

Other types of real estate business you can start in Nigeria to make a high passive income.

1. Real estate agent/broker.
2. Real estate developer/property developer.
3. Real estate land banker.
4.  Property management .
5. Angelic investment. e.t.c

2. Choose your area of specialization.

The first step to take in getting started is to survey the market and know the types of real estate business you will like to specialize so that people around can easily take note of you when discussing with you you or telling people about you.

Here are the simple definitions of the type of real estate business listed above to enable you make a decision today on which one you would like to start with.

_Real estate agent/ broker: their work in Nigeria is to keep their ears on the ground waiting to hear property for sale by owners or an individual who wants to buy. in simple term, they're the middle men in real estate business.

_Real estate developer works hand in hand with the agent to buy a property and develop with the interest of higher profit.

_Real estate land bankers are some sophisticated investors who works with their agents to buy land and keep either for their children to inherit or to resell in due time and make profit.

_An angel investor is someone who has a high net-worth who's work is to support young real estate entrepreneur to secure a deal and in return makes a profit over the deal without his presence in the business. only the high connected people can get an Angel investor to work with. sorry but that's the truth

3. Real estate brokerage in Nigeria.

When you have made up your mind to start the business of (REB) real estate business in Nigeria. you have known the type of real estate business that you can make more money from by mastering the skills involve.

I solely believe that real estate brokerage is the best way to start real estate business in Nigeria. know it that brokerage is like other job on earth, it requires the act of practice, consistency and hard work of course.

As a broker you need to wake up every morning to look for deals like property for sell and eligible buyers who needs such property. and you make your money at ease, no cap guys.

But my advise to people who wants to take up real estate brokerage needs to take another bold step to select from the 36 states of Nigeria which place you will like to stay and operate their local market.

Looking at Nigeria demographic map, you need to understand that some places are exclusively for the upper echelon citizens and middle class citizens, while 75% of other places are settlement zone for the poor masses in Nigeria which obviously has the largest portion in the country.

For example; Lagos is the center of business in Nigeria and most rich men and foreign investors dwell there. you're likely to make huge commissions or have a good commission rate in a deal, it may interest you to know that some real estate commissions as a broker ranges from 5%-15% depending the deal and client involve.

Let's throw more light on the work of real estate broker because many people tends to take an agent for a broker,

Our next blog post will give more details but at this stage just know that brokers are highly qualified and has many agents working under them. but agent has no to little qualification with regards to the field of real estate business.

4. Condo services.

These is one of the best ways to start real estate business in Nigeria, in this sector you can mine gold with no educational qualification or highly educated.

The condo service which is known as condominium real estate business, is the act where in a full building different units are owned by individuals and some part are jointly owned.

Okay no grammar, condo is you purchasing a space in a plaza in Nigeria either to re-rent it by renovating the unit for more profit. some cases condo owners do use it for different purposes like renting it out as an office, shopping mall, apartment.

If you look well, you will see the sense, you don't have to be a billionaire to own a real estate property in the urban area, all you need to do is rent or buy a condo from the real estate developer and use it to fulfill your financial plan of enriching your assets column.

Before going into condo service, study the game well because it can be too risky, you have to be a well experienced realtor, agent, broker or sophisticated investor to pull cool cash from your condo services.

Always remember the thumb rule in investment. that in every investment of something like 100,000 naira you're expected to have a yearly rental income of 10,000 naira or 12,000 naira and the best condos to buy is beach area, vacation homes and relaxation centers e.t.c

We the management of Gaddeva,blogspot.com is advising readers to venture into condo services as a a good business to harness in Nigeria because government and some rich men has abandoned properties with no intention of how turn it to cash flow revenue.

example of condo unit in the fourth floor of a building.

5. Real estate developer/property developer.

A look of property after developing.

The high rate of real estate moguls in Nigeria that are into property developing is quite minimal because the business are mainly and strictly for sophisticated investors, who knows the in and out of the business in Nigeria.

They acquire knowledge on how to control tax, property laws in Nigeria, accessing the market to know when to buy and when to sell just like stock market and they're often called kings of negotiation.

We advise novice not to turn into a real estate developer over night, if you care for your initial capital or your hard earned money? go and master the act of marketing and advertising because you will need a whole lot of such lessons to prosper in the business.

And most importantly have the cash or know where to get the cash. once the market is ready, negotiate, invest, promote and market your property and pack your money. that's a good developer work schedules.

Buying and selling of high ticket closer experience is also needed and real estate courses, seminars is a must go for you, if you want to earn or to learn your lessons in the hard way.

 Most investors that claims to be a developer will buy a property, renovate the property and at the end government will take over such property or will be taxed more than expected and the property will be sold but after check and balancing, the initial capital is jeopardized and that's not financial education and not a good deal at all.

6. Land Banking.

Example of lands in the rural area in Nigeria.

Are you looking for a safe investment to go into, search no more because we got your back and we have a great idea for you and that's "land banking" it's a safe business.

that's if at all there's something like safe business. but my initial statement has a backed fact; buying of land requires no education, no experience of real estate business and marketing ideas. common man in Nigeria owns a land although many are by inheritance and act of wars to reclaim lands.

We recommend land banking as the best way to start real estate in Nigeria, that's the only property if all things being equal doesn't depreciate with respect to economy or market value.

It's always increasing. just give it a trier today. buy lands and keep it for next year and see the significant change in price.

Don't forget; you see that saying that goes this way "patient is a virtue" you will need that adage when you're into land banking because it takes years and some times months depending the land strategic position to have your return on investment due time.

Watch carefully so that you don't fall prey to Nigeria greedy citizens who drives joy in spoiling the image of the country although there's no image left again from the damage of our leaders have caused already.

So watch who you're buying from or who you're giving your money. this is Nigeria widen your eye balls for safety.

Some investors do buy an abandoned area in the village or valley for future use.

7. Become an Angel Investor.

This is the best ways to start real estate business in Nigeria when you have the cash, please don't forget the last line; "when you have the cash." lol, only the rich play this game of Angel investor.

Some time we do call them our god fathers in the market. as people do pray for angel of God to visit them, the real estate market hunters always ask God for an angel too but the deference is where the angel is coming from either heaven or earth.

Without wasting your time. if you have spare cash in your account instead of allowing to stay there in bank and yield no income profit for you, simply find a good young vibrant entrepreneur who knows what he's doing and invest in him by paying indirectly for the deal that the person wants to purchase under real estate but lack the capital to purchase.

So you appear as an Angel of God to provide capital and make your cool cash without struggles.

But you must see the deal proposal plan, understand it and know your percentage before putting your hard earned money. mind you.

Angel investor make much money than people think because you don't have what they have and that's cash.

If you want to make it huge as an Angel investor; attend some real estate seminars and coaching class to become an angel investor today, if you have cool cash at hand to invest.

In conclusion:

The best ways to start real estate business in Nigeria is to make up your mind to start unlike other businesses real estate is win or lose game, so it's always good to have a lion's heart and be prepared for anything. hope for the best and expect the worst.

If you have made up your mind to start the game, know your niche, choose if you want to be an attacker or defender. choose your real estate area of specialization and master it.

Learn new skills and flow with the game that's all you need to become a real estate business operator in Nigeria. please comment below and tell me how you feel about this post.


Gracias por leer (thanks for reading).