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Re: 4 Simple Ways To Invest In Real Estate In Nigeria by hothead(m): 10:05am On Sep 08, 2017 |
ok |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by phoenix480(m): 10:19am On Sep 08, 2017 |
I believe both of you are right, as it depends on your experiences and speciality. Yes it can take 10 years to recoup your investment. It can also take 1 year, 2 years or 5 years especially with raw land. Good returns can also be seen in "Non-prime" areas like Ikorodu due to the sheer population growth in the last few years. Investing in Real Estate is NOT a get rich quick scheme though as it takes several years on average to recoup your investments. Quick liquidation is also not always feasible though especially with Houses that re not in "hot" locations. The hidden costs of perfecting title and other levies are very real. Rainmaker69: |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by erico2k2(m): 10:35am On Sep 08, 2017 |
Rainmaker69:Ok checked could not find you in the property section . So it was safe for me to say you had no clue . The fastest growing sector in the EU is the property sector . In the Americas same thing . Asia is the same even almighty China is triving on real estate . The mortgage industry is bigger than any other industry . .its the only sectors that unifies every other sector . I'm a mechanical engineering in the uk with 16 years expirience but I wish I was a civil Engineer . A house bought for £350,000 in 2004 is now worth £1.6 m and you say real estate is not IT ? Seriously ? ? |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by Rainmaker69(m): 10:43am On Sep 08, 2017 |
erico2k2: My brother, please respond to the post you quoted, I'm not a social media property consultant. I operate in the real world, we can connect and take it up from there. I would like your candid response to the post you quoted. |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by phoenix480(m): 10:43am On Sep 08, 2017 |
I dont think Rainmaker69 is disagreeing with real estate being a good investment (I may be wrong though). I suspect he is only trying to highlight some of the challenges of owning properties in Nigeria, which people either convieniently ignore or genuinely do not know. You will also agree that some of the challenges mentioned are peculiar to us here compared to Western Countries. erico2k2: |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by erico2k2(m): 10:48am On Sep 08, 2017 |
Rainmaker69:I'm speaking from expirience . I have bought and sold houses in London . The profits are u.speakable . The richest bankers earned thier money from real estate by buying up stocks and properties after the world wars . I have gone fru your post and I'm extremely suprised a person like you will say such in your initial post . Real estate is the way to go with the right business module . |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by erico2k2(m): 10:53am On Sep 08, 2017 |
phoenix480:Yes true but I think it's the module you approach it with.this is the advantage people who live abroad have over home based business men . If I was a developer I will target land development ,reclaim and resale plus leasing . That's the three module I will approach the Nigerian market with . Over here in the UK your rent will pay the mortgage and after few years you can release the equity to re invest in another or improve the same one to increase the value . |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by phoenix480(m): 11:03am On Sep 08, 2017 |
@ erico2k2 I am aware of the Buy-to-Let market in the UK and the concept of releasing built-up Equity. Unfortunately, these are almost non-existent here as our Housing market is not mature here. For example Homeowners here via Mortagage route is less than 5%. The main reasons are the interest rates (around 20%) and you can only get mortgages in certain locations. I would like to hear more on the land development, reclaim and resale plus leasing modules, let learners like me learn something - unless they are your trade secrets. |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by SkenolProp(m): 11:28am On Sep 08, 2017 |
Check out my profile for the answer to your question Sir. celestialAgent: |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by Rainmaker69(m): 12:05pm On Sep 08, 2017 |
phoenix480: Thank you very much for your intervention. You captured the essence of my comment. Real Estate is generally a safe investment but thats a very general rule. I'm not saying its not a good vehicle, I'm just saying that the general rule does not always apply generally. Apart from our land-use challenges in this part of the world, even the West has its share of property woes. You will recall the global economic crash caused by the massive failure of sub-prime mortgages. Simply buying Real Estate to shore up money isn't a fool-proof investment strategy. There are so many distress property sales in Lagos and Abuja because its currently a Buyer's market. The industry is suffering from a liquidity crisis. If Agents even think you have a serious buyer, they will call you more than Christ Embassy Evangelism Unit. Even Banks have stopped lending to Developers unless the Developer can provide up to 70% of the total cost, subject to several factors. I admire Ray Kroc's business model, the land he acquired was put to use by renting to McDonald's Franchisees. Real Estate should be developed- I digress. Thank you Phoenix480. |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by FIPS: 12:08pm On Sep 08, 2017 |
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Re: 4 Simple Ways To Invest In Real Estate In Nigeria by Rainmaker69(m): 12:16pm On Sep 08, 2017 |
erico2k2: erico2k2, from an industry point of view, the Rent-2-Own Model can work when the beneficiaries buy to use as opposed to the practice of grabbing to hedge. There are many other factors that should be in place. As Phoenix480 pointed out, there are several reasons why this policy may not be realizable en masse in Nigeria- weak regulatory systems, fluctuating interest rates, inflation, insecurity and so on. I have a close relation who buys, develops/remodels and sells. Although He is very wealthy by UK standards, he only works on one site at a time. He doesn't use his capital on more than one project at a time, for financial reasons. I would like to learn some more about the business model that you propose, especially with respect to how we can use it here in Nigeria. |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by phoenix480(m): 12:28pm On Sep 08, 2017 |
Thr truth is the Real Estate market was badly hit during the last recession. There just were not a lot of liquidity causing massive Supply gluts. It is really a buyer's market and it will not last forever. Some of the discounts are really tantalizing . Btw, we are still waiting for the golden nuggets on your land development, reclaim and resale plus leasing modules. Rainmaker69: |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by Rainmaker69(m): 12:32pm On Sep 08, 2017 |
erico2k2: My brother, I didn't say Real Estate is not a good investment- that would be a hypocritical statement coming from someone with investments in the industry. What I meant is that Real Estate (especially in Nigeria) is a safe form of investment. As you know, safe doesn't mean best. Lets take a look at the 20 richest people in the world (I don't mean them Dieziani oh, lol) and see how many of them are into real estate as a core business. You will find the list dominated by Tech, Retail and Hospitality. Real estate is developed and used for business. Over here, we grab and hedge, waiting for the perfect time to sell and make a killing. That's because the majority of the people who buy Real Estate are not in the real estate business. Sadly, society cannot develop that way. |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by erico2k2(m): 12:41pm On Sep 08, 2017 |
phoenix480:Ok well there ain't no secrets . I'm at work atm . I'm off the wkend so I got time in the evening I'm on my mobile and I hate typing on my phone so padon me for short replies . When I get home I shall Xplain further . |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by Rainmaker69(m): 12:41pm On Sep 08, 2017 |
phoenix480: I think the real estate market hit was really bad because property prices were not determined by market forces but by Political exposure. The recession created a market stabilization but political forces are so strong that we aren't at equilibrium yet. Sadly, it really won't last forever. Its so hard to pass over some of these distress sales, some really tantalizing deals. I wish I could lay claim to authorship of the modules you referred to, alas, I am also in line to receive from erico2k2. I find there are many things to learn from how the West develops business models. |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by dokunbam(m): 12:42pm On Sep 08, 2017 |
Boo info |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by phoenix480(m): 12:48pm On Sep 08, 2017 |
@ Rainmaker69 I humbly disagree with some of your comments (unless I misread them). While some of the Top 20 richest people made their money in different sectors, the majority of them have invested heavily in Real Estate - which has increased their net worth over the years. On the political forces, they are so strong and deeply embedded in the system, I doubt if there would be ever an Equilibrium any time soon. |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by phoenix480(m): 12:50pm On Sep 08, 2017 |
No worries. We will buy notebooks before the weekend for our Tutorials erico2k2: |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by BecomeALandLord(m): 1:16pm On Sep 08, 2017 |
adextetoo: I has to be properties |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by erico2k2(m): 1:23pm On Sep 08, 2017 |
phoenix480:Haba lol I ain't no pro.I just taste the waters small but I know my limits lol but it's always a good idea to share knowledge . It'd a win win 4 all abi |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by erico2k2(m): 1:26pm On Sep 08, 2017 |
Rainmaker69:Plz remind us of this in the evening . I can give an insight to what happened in the property hit . There was a secondary market the was the problem not property per say ! |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by Rainmaker69(m): 4:41pm On Sep 08, 2017 |
phoenix480: I acknowledge your point with regards to the heavy investment in Real Estate and I think we both agree on this. The point i was trying to make is that their investment in Real Estate is used to further their businesses. Examples like Walmart, Berkshire and Zara fit this model. Its based on the same concept that Ray Kroc used with the McDonald franchise. His real holdings formed a significant portion of his networth. They don't just buy the real estate to resell or hedge the way we do here. |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by nero50: 10:09pm On Sep 08, 2017 |
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Re: 4 Simple Ways To Invest In Real Estate In Nigeria by erico2k2(m): 10:22pm On Sep 08, 2017 |
are you guys asleep? |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by Emimade: 5:05am On Sep 09, 2017 |
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Re: 4 Simple Ways To Invest In Real Estate In Nigeria by ArcToyin(m): 9:22pm On Oct 02, 2017 |
modelmike7:Amen |
Re: 4 Simple Ways To Invest In Real Estate In Nigeria by Homeyfav: 7:33am On Dec 14, 2017 |
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Re: 4 Simple Ways To Invest In Real Estate In Nigeria by priestemzy(m): 3:35pm On Aug 14, 2018 |
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Re: 4 Simple Ways To Invest In Real Estate In Nigeria by priestemzy(m): 3:42pm On Aug 14, 2018 |
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Re: 4 Simple Ways To Invest In Real Estate In Nigeria by Homeyfav: 7:55pm On Aug 20, 2018 |
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Re: 4 Simple Ways To Invest In Real Estate In Nigeria by mezeadichie: 12:05pm On Jan 15, 2019 |
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