Steps to becoming a real estate millionaire in Nigeria
Can real estate get you rich in Nigeria. the answer is capital yes but we will show you fact and easy steps to take to actualize your dreams. we will make it as easy as ABC that a child can also apply the same process to make millions also.
Nigeria real estate market as a case study. this process and strategies has been applied many times in Nigeria and has been proven to be real and have created many millionaires in Nigeria for decades now. all you need to do now is to read carefully and apply the same principles to build your real estate empire.
Millionaires in Nigeria is increasing rapidly because young Nigerian folks have ventured into real estate investments. Obi Cubana, Emoney, Prince Omoha, Dr. Stephen Akintayo and many others that are below the age of 50 years. the good new is that they all started from zero, no sponsor, no rich background and under the same bad government.
The steps to becoming a real estate millionaire in Nigeria is very easy and applicable but many people fail to use it because of their illusion of over night wealth, get rich quick scheme. if you think that this easy steps of becoming a millionaire in Nigeria, then this post is not for you. go and learn Yahoo.
Introduction to Real Estate Investment
What's real estate investment? i will like to see your comment below so we can compare and contrast your understanding about the term real estate investments. in simple terms a real estate investments is the banking of lands, development and management of real properties.
Real estate investments has three spheres for easy understanding, lands, housing, development and management. to understand real estate better and involve in the gold mine trend, you need a deep understanding of the spheres more especially development.
In the real estate business we have many kinds of investors, we have sophisticated investor, Angel investor, inside investor. you can make research to know the type of investor you want to be by clicking the link or browsing through google search engine. mainly new entrepreneurs starts as real estate broker and further grow to be an investor in the real estate business.
Real estate investments is not something you start today and expect huge profit tomorrow or next. the truth be told; it takes months and sometimes years to have your ROI ( return on investment) i told you earlier that it's not a get rich quick scheme. prepare your mind for the journey but i want to assure you if you can be patient enough to go through the process because it truly worth it.
To invest in the business of RP real property as often called instead of RE real estate. the business is highly capital intensive and you will be needing a huge funds to start the business but don't worry much in the easy steps we will provide a way to start without nothing. i mean nothing like no kobo.
4 Millionaire Steps in Real Estate Business. REB
The easiest four steps to becoming a millionaire in the real estate business in Nigeria have been finally mapped out and listed below for your consumption, mind you it have been proven and those simple steps below have created many millionaires across the country both educated and non educated persons.
As simple as it is, it really means a lot to REB entrepreneur, very easy steps to take once your heart is willing and you truly wants to be a millionaire because many mediocre wants to be rich but are not ready to pay the price of being rich.
Here's the steps below, make sure you have it at the back or your memory. memorize it if possible. because you will need it in the journey of REB real estate business.
1. Land Banking.
2. Housing
3. Development.
4. Management.
Land Banking
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| Land for sale in Ebonyi state, Nigeria. |
Buying lands for future use is simply called land banking. many people asking questions like, can real estate get you rich in Nigeria? here's the first answer to your question; land banking.
Start today to buy lands in urban or rural areas, don't sell it immediately wait for the land to appreciate in value before selling. at least for a minimum of 5 years and above. a friend of mine bought a land N300,000, 5 years ago. now the same land is going for N4.5 million. isn't that an easy step to be rich?
Land banking may seem to be a boring process to becoming a millionaire in Nigeria but i told you on time that this not a get rich quick scheme, you need patient to be a millionaire, just matter of some years and you will count millions without stress, zero maintenance and no special skills required.
One of the greatest problem that might stop you from getting to the millionaire status in this aspect of land banking is fraud. we advise people to get an agent before buying land and also to help you buy a futuristic land. how to find real estate agent, broker or realtor in Nigeria read our older post.
If you want to be a millionaire in real estate investments start to acquire landed properties now, to your greatest surprise there are land you can get N50k, N100k, N200k and above. so you don't have reasons not to start small and grow big in real estate investment. if you don't have money at hand, start saving today and buy anytime you're ready because lands can never finish on earth.
Housing
Real properties like house can be lucrative, if you can build a bungalow, hostels or three bedroom flats that you can rent out to tenants and get a reward of monthly or yearly cash flow. building is quite expensive but don't panic we have an idea for you.
Divide your salary or income, keep some money for your building plan, each year make sure you buy materials for house building like sands, cements, gravel, blocks, steel, planks, woods and also remember cost of labor. it may take you two years or three years to get those things in place and kick off your building project. with that ability you can succeed in owing your own house, it works, many people are living witness.
Building a house can fetch you millions in few years if properly planned. the house rent you're actually looking down on, if you can be discipline enough to open a separate account for the housing rents. take off some money from it for your maintenance and keep the rest in the account. watch for three years upwards you will be counting in millions.
One good benefit of this real property is that it will be yours forever till eternity, no one will take it away from you except you sold it out. that means you will be making money while sleeping and making money without your presence yearly till you die. isn't that a great plan?
Although it might take years to actualize but believe me it worth it and you won't live to complain about money again in life. most great men you see today that are financial stable, most of them are into housing. it's very safe and secured way of financial investments.
Development
Real estate development is an aspect of real estate business you will need cash to start, i'm sorry for that. it's quite an easy step to becoming a real estate millionaire in Nigeria but requires huge funds. this process is capital intensive, i'm just sounding it as a warning to you before you think of becoming a real estate developer.
A developer is someone that has all it takes to bring the future of a place to reality. a person that buys an abandoned house, renovates it to new house for higher profit margin is a developer in REB. you can choose to buy a land develop it to petrol station, restaurants, residential building, warehouse or anything according to the future you're seeing in that place, that makes one a real estate developer. RED.
Can real estate get you rich in Nigeria? yes, start today as a real estate developer RED, to experience the massive wealth you can think of. RED are called investors in many cases. they're always awake watching the market to spot properties for sale and clients that wants to buy. this is the most lucrative part in real estate investments.
RED require funds so i advice you to start with land banking and housing to use your ROI return on investment on the already concluded project in lands and house, to serve as capital to start developing properties for higher profit margin and increasing your cash flow margin extensively. show me a developer and i will show you an investor with millions in account.
Real estate development doesn't actually take longer time like land banking and housing because your money is speaking for you and you're using money to buy time for yourself and become rich quicker than you ever imagined.
A developer can buy an old buildings like duplex, renovates it, change to ultra-modern facilities befitting a luxurious home for kings and queens. the duplex a developer bought for 10 million naria after cost of development may spend an additional 5 million naira due to his great skills in the business, analyzing real estate market to know when to sell and when not to sell, negotiation skills and other good attributes of real estate developer, can create an avenue for the developer to sell the duplex for 50 million naira especially to clients in diaspora. if i'm correct that's a whopping 35 million naira ROI?
Real estate development has the best profitable side of the business so does the lost aspect. in development if you're not knowledgeable enough you might lose your starting capital. this is the brain box of real estate business. learn before you earn that's the secret.
Management
Real estate management is a process of land, house and project maintenance to maximize it's efficient use. without proper management you will not get the expected ROI value of your real property.
Some housing estate developers do hire a caretaker because they're not a good managers, to watch over their real assets of housing estate to make sure the property is intact, no delay of rental payments by tenants. less damage incurred by inmates of the house, constant water supply, constant light and inhabitable environment for living.
Real estate management skills is always best mastered from experience, field work and not necessary from college or MBA classes. i'm not saying is not good to study real estate management in colleges but you need more than a college degree to be a better manager in real properties.
Another pleasant thing about real property management is that you don't need money to start, you just need a first class management skill in REB and you're ready to go. you can start by becoming an estate caretaker, land caretaker and rental apartment manager. you make money if the property value increased.
A real estate manager with vision and discipline can grow to manage his own real properties from dividends made from managing other people's properties. that's the secret of being a real estate manager. you have to be frugal in everything including your own expenses to save money to buy more properties in your name. with that process you can become a millionaire in real estate business. REB.
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| Real estate managers |
Can real estate get you rich in Nigeria? Yes and i believe you have seen how and why above. follow the above steps and you will be a millionaire in few years because i always tell my friends who wants to invest in real estate that it's NOT a get rich quick scheme,
It takes time. precisely it takes years to make your expected profit in REB. i always tell people it truly worth it and after that few years, you're made forever, financially free and you don't need to be there to make money. the good news is that you can make money while sleeping after building your real estate business. that's the meaning of financial freedom.
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