How To Start Real Estate Business In Nigeria
There are a thousand and one businesses in Nigeria today that requires huge investments, and the good thing about them is that they are profitable, not just profitable they are also lucrative especially if the right plan is followed or the best business plan is consulted.
When it comes to how to make money as a real estate agent in Nigeria, it begins with starting or setting up a good real estate business in the first place, why do you even have to venture in this business, the fact is that there is a huge investment opportunity in real estate business, and there is a high level percentage of chances that investing into this aspect of business would yield expected returns.
It is no longer fallacy that real estate in Nigeria is big business, the question anyone who is interested in the business is knowing how to start real estate business in Nigeria or any other place as the case may be. Real estate is a money spinning machine, not just in developing economy like Nigeria, but anywhere in the world where there is a high request for posh houses.
Recent report has indicated that real estate business is big business in Nigeria and that those involved are making millions from their initial investments. On his article, we will discuss those business decisions you need to take to effectively start and then run your business; at the end of the day the idea is to make huge profit from all your investments.
Why Real Estate? (How To Start Real Estate Business In Nigeria)
Real estate business is big business as stressed earlier, however, real estate business is vast and allot of people get to benefit on the long run, from the builders, horticulture, vine dressers, cleaners etc.
What is real estate business?
Real estate can be defined as a number of buildings located in a vast archers of land, with a provision of basic amenities like water, road, light etc real estate makes reference to housing or property which includes land. The good thing about this is that it is immovable and it appreciates as time goes on.
Other Aspect Businesses Associated With Real Estate
there are huge investment opportunities associated with real estate business, all that is required is the process taken in investing wisely, which of cause involves using a well written business plan, below are other aspect of real estate that can fetch a lot of money;
- Agency Business In Real Estate – This is one aspect of real estate business that is well known by most people who are not involved in the real estate industry. In this aspect, what is mainly required is your expertise in providing information on available houses that are un-occupied. What you do here is go around and scout for empty houses and then advertise same to people who will need them, you do so either by a sale or lease for a percentage cut.
- Construct – This option is as popular as the agency option, here you get to construct your own houses or offices for rent, you can also act as the agent and lawyer, however, it is advisable to get a qualified lawyer to draft the documents needed for lease, rent or outright sale.
- Land Flipping – This is not as common as other business angles associated with real estate, here most buyers buy land for a fee and then resale it almost immediately for a higher fee, take for example a land that was bought for N500,000 can be sold when the value goes up to N1,000,000. All that is required is knowing when these lands are for sale and also knowing when the value goes up so that you can resale it.
- Estate Development – To be involved in this you need to have enough capital to begin with. Every city has expensive areas where lands are sold expensive, with enough capital, you can by lands in this location and develop it to a very high taste, these properties are sold or rented at a very high rate, say you invest N100 million in a property, it could be sold at N150 million to N300 million, depending on the facilities and features.
Other Aspect Associated With Real Estate
- Renting etc.
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