Real estate investment can create jobs for Nigerians, but the unnecessary bottle-neck created by politicians and civil servants is discouraging average Nigerians and big time investors from investing in the sector.


A 15 million housing unit deficit is quite huge, but who are the people to solve this problem.

spyder880:

While I agree with most of your points, I disagree that real estate is like stock business because I have played both markets on the highest levels. I lost more than xx million in the 2007 market crash so I know what am saying.

Real estate is real estate and it retains its value much more than stocks which you can wake up one morning and your company has packed up.

Did you invest in the market with figures or emotion. Were you a fundamental investor, technical investor, contrarian investor, value investor etc?
What value did you see in the companies you invested in when they were selling at a multiple of over 40.


Come to the Island and I will show property who have lost their between between 2007 and 2013. The most important thing for every investor is not to over pay for any investment be it stock, real estate or business.

manie:

I have not gotten certificate of occupancy to the property I bought at Ajah between 2001 and 2002. Fashola wants us to pay 4 million for the ratification of our property, it is after ratification that we can now process c of o.

Which one is ratification? Did you buy government land?

manie: Real estate investment can create jobs for Nigerians, but the unnecessary bottle-neck created by politicians and civil servants is discouraging average Nigerians and big time investors from investing in the sector.


A 15 million housing unit deficit is quite huge, but who are the people to solve this problem.

Yeah, I did some work on this last week. I think a mixture of rapid economic growth and modern building techniques will be critical to surmounting this deficit. Look towards the Chinese and other rapidly developing countries to transfer their knowledge and technology to Nigeria soon.

maclatunji:

Which one is ratification? Did you buy government land?

I bought form Omo - onile, Fashola said the land was acquired for Agriculture during the days of Awolowo as the Premier of Western Nigeria.

When Lagos State was created out of the old Western Region in the 70s, Lagos inherited the land from Western Region. The area is built up, and it is obvious that Lagos can not use the land for Agriculture again.

Anybody that wants a certificate of occupancy in Ajah axis must first ratify the land or get the Governor's consent

maclatunji:

Yeah, I did some work on this last week. I think a mixture of rapid economic growth and modern building techniques will be critical to surmounting this deficit. Look towards the Chinese and other rapidly developing countries to transfer their knowledge and technology to Nigeria soon.

Government should first of all remove the bottle-necks that real estate investors are facing.

manie:

I bought form Omo - onile, Fashola said the land was acquired for Agriculture during the days of Awolowo as the Premier of Western Nigeria.

When Lagos State was created out of the old Western Region in the 70s, Lagos inherited the land from Western Region. The area is built up, and it is obvious that Lagos can not use the land for Agriculture again.

Anybody that wants a certificate of occupancy in Ajah axis must first ratify the land or get the Governor's consent

You bought government land whatever the facts are. It might be best for you to comply with government's decision on the matter.

maclatunji:

You bought government land whatever the facts are. It might be best for you to comply with government's decision on the matter.

What about those who bough land at Ibafo, Mowe etc that were also required by government to ratify the document to the land, before they can start processing certificate of occupancy. Government acquisition is another way of defrauding real estate investors in Lagos and Ogun States.

Nice business idea. i will like to more about this.

My own piece, Please ensure whichever property you purchase for the intention of flipping has a TITLED DOCUMENT. Not talking about SURVEY which is mostly available but a TITLE registered with the domiciled STATE GOVERNMENT.
By this, its a form of security, it also increases the value of the property upon your renovation.