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|The Real Estate Business Thread by Alaroro(m): 3:41pm On Sep 18, 2014|
IF YOU WANT TO GET STARTED IN YOUR DREAM CAREER IN 2016, YOU HAVE COME TO THE RIGHT PLACE!
Maybe you've always known what your dream career is — you just haven't discovered how to get started. Or maybe you're not yet sure what your dream career is — you just know it isn't what you're doing now. Wherever you are in the pursuit of your dream career, Koboheights guides can help you get started and succeed.
- Job options
- How to invest in real estate flipping I & II
- Turnkey real estate investing I & II
-Exfoliated analysis of the real estate sector I & II
- Lead nuturing
- How to use social media I & II
- Myths of real estate
- How to reach a larger audience
- Mistakes made in real estate
- About a career as a gift shop owner I & II
- What is social entrepreneurship?
- About social entrepreneurship
- How to get a Real estate business mentor I & II
|Re: The Real Estate Business Thread by Alaroro(m): 3:57pm On Sep 18, 2014|
Today we look at the ever growing not to mention prospective real estate sector of Nigeria and list its various job prospects. This shall be informative as well as brief
Residential Real Estate Agent/Broker
Real estate agents and brokers are usually independent sales professionals who contract their services to real estate brokers in exchanges for a commission-sharing agreement (normally one percent in Nigeria). There are thousands of registered real estate brokers and agents in the country. To become a broker you must be at least 18 years old, a Senior Secondary Certificate and a real estate brokering license (more updates on the career gateway article)
Commercial Real Estate Sales
Commercial property brokerage offices use sales associates who market office buildings, hotels and many other types of commercial real estate for brokers, it is more competitive and profitable than residential real estate and perhaps more regulated. Commercial real estate sales people usually specialize in a particular property type such as retail, office, hospitality, shopping centers and industrial plants. Most of the large commercial brokerage companies in the Nigeria provide a great deal of local market data and research in order to be able to service a cadre of sophisticated clients who are making high profile investment decisions. Several trade organizations represent the various commercial real estate subspecialities in the country (more updates on the career gateway article)
Real Estate Appraisal
Real estate appraisers provide unbiased estimates of a property's value and quality. Appraisers usually work for finance institutions or for appraiser firms(which are still upcoming virgin territories) and will normally value properties by finding comparable sales in an area or by estimating the discounted value of cash flows expected from a property. This profession is less cyclical than the usual real estate brokerage because appraisers are needed mostly when the real estate market has been slow. (more updates on the career gateway article)
With Government micro-managing nigeria properties and property owners, Leading real estate owners require professional property managers. Managers are responsible for negotiating leases, ensuring that tenants are satisfied, that rent is paid and that rents reflect market conditions. The career of property manager requires good interpersonal and analytical skills and a fair amount of negotiating prowess. This job is personally rewarding and allows you to really learn the real estate markets should you wish to embark in business on your own.(more updates on the career gateway article)
Real Estate Advisory
With nigeria initiating mortgage schemes e.g: rent to own etc. Institutional investors are purchasing real estate more and more. But real estate is not like paper assets that you can buy and put in your matress . Real estate advisors help investors care for property make sure its registered with FHA and keep away extortionists(omo onile) and, more importantly, select property in the first place by suggesting areas and property types that are likely to experience price appreciation in the future. This job is fun and one that you can get into after getting experience in investing or property management. People who are good with statistics and excel at client contact do well in this job (more updates on the gateway article)
With the many banking and finance graduates in the country perhaps the banks aren't the only institutions one can work in, many investment banks have groups dedicated to real estate, particularly the repackaging of mortgages into residential mortgage-backed securities (MBS) etc. If you have an interest in both real estate and investment banking, why not go for both areas at once? (more updates on the career gateway article)
Development and Construction
Are you willing to work hard and take risks to develop new properties? Then a career in real estate development may be for you. You can enter this business working for another developer, moving up to construction manager, or you can strike out on your own, starting with some smaller transactions. Good developers are results-oriented and know how to get work on time which involves managing labor, establishing time estimates, getting appropriate equipment operators and construction crews.(more updates on the career gateway article)
Real Estate Entrepreneur
Real estate is one of the last bastions of the free-enterprising entrepreneur who buys properties in hope that they will rise in value because of improvement in market conditions or renovations. For as long as one can remember, some of the wealthiest persons in the world have been real estate entrepreneurs. To make it in this career you need to be savvy, hard-working, willing to take risks and fortunate. Remember, there are others who would also like to become wealthy in real estate who will be bidding on the same deals and properties that you will. It is important, then, to think carefully of how you can succeed in this market through better wits, a superior management approach or a unique niche strategy(more updates on the career gateway article coming soon)
|Re: The Real Estate Business Thread by Alaroro(m): 12:53pm On Oct 07, 2014|
How to Invest in Real Estate Flipping
Real estate flipping can produce an attractive income.
Real estate flipping, buying property with the hopes of reselling it in a short period, is not an easy way for everyone to get rich quick. Real estate flipping is a good investment when done with careful planning. Finding the right property at a bargain price will take time and consideration. Properties are being sold every day it involves year lows,re-mortgaging and a lot of grammar which can blow your mind as well as put you in a fix so you have to dust up widely . Investing in real estate can be a risky business without the proper accurate information.
Make a financial plan. This plan should be a written plan that accurately shows your financial situation and your ability to purchase property. Make a spreadsheet listing all your debts and cost of living expenses. Compare this total to your income. The difference in your income and expenses is your disposable income. Your disposable income can be used to manage your real estate investment. You will need money for a down payment, for closing costs including legal fees incurred in the purchase and for repairs that the property will need before reselling.
Do a written budget. You will need to be sure that you have the cash flow from your regular income or from savings to maintain the expenses while working on the house. Include in the budget the payment on the property including taxes and utilities, remodeling supplies and labour costs.
Consider how you will finance the purchase. Most real estate investors who plan to flip a property work on the premise that a first mortgage will be generated to buy the property. If you have the total amount of the purchase in savings or other liquid investments, you should consider paying cash for the property. This will save all interest charges against your investment.
To be continued....
|Re: The Real Estate Business Thread by Alaroro(m): 1:03pm On Oct 07, 2014|
How to Invest in Real Estate Flipping II
Locate the property. The best property to obtain is the worst house in a good neighborhood. Neighborhood choice is important to the easy resale of the property. Study the trends for the area. Check for comparable sales prices in the neighborhood. Choose a neighborhood that has had comparable sales within the last few months to calculate your estimated resale price.
Refurbish the property. Making good remodeling choices will increase the value of the home when it is time to list it for sale. Use quality building materials. Use a neutral color scheme in order to avoid creating a small customer base.
List the property for sale. You may be able able to sell your flipper house without the help of an agent. Be careful not to let the property be for sale for an extended period without enlisting the professional help that an agent can provide. Real estate agents can be of great help in bringing potential buyers to view the house. A house that has been on the market for an extended period of time may be viewed by potential buyers as a property with hidden problems.
|Re: The Real Estate Business Thread by Alaroro(m): 8:03am On Feb 23, 2015|
You see, many people want to invest in real
estate, but they also want to live in a great
location where rental properties don’t make a lot of sense. e.g: banana island where basically everyone is a landlord and its crazy expensive for tenants.
So Instead they end up just enjoying the sun,
the city, the lights — with no want cash flow
from the rental property, bad business. You see people who want to own rental
properties but don’t want to actively manage
anything. They want their "cake… and they
want to eat it, too"
Is this possible?
Well, in recent years a number of Service
providers have emerged that claim they can
help investors do just this. They are called turnkey providers/care takers ,but is turnkey
real estate investing really all it’s cracked up
Let’s find out.
What is Turnkey Real Estate Investing?
Turnkey real estate investing is a loosely
defined investment strategy in which the
investor buys, redecorate, and owns a property
managed through a third-party, usually from
a long distance away. Their goal is to make
the entire real estate investment process as
simple as possible, so all you need to do it
turn the key
There are hundreds of turnkey real estate
providers in Nigeria (and across the world),
and no two companies are exactly alike.
Some will buy, build, rent and then sell a
property to you, the investor. Others will
simply help you find the property and let
you do most of the heavy lifting on the
rehab/building side (if there is any to do), then
manage the property for you . Again, each
company runs their operation a little
differently, so if you decide to go with a
turnkey company, it’s important that you do
some in-depth research on exactly what that
turnkey company will and will not do.
Benefits of Turnkey Investing
Turnkey investing has several distinct
advantages over doing it all yourself:
Service at a Distance: The first (and
most obvious) benefit to turnkey real
estate investing is the ability to invest in
a good real estate market without you
needing to live there. Being a landlord
is not always easy, and trying to be one
from thousands of miles away can be
even more tough. Many people who
live on the East or West of the
Country e.g: lagos from benin, as well as many who live
outside the country, rely on turnkey
companies (mostly in the commercial and highly populated states like lagos,
where cash flow tends to be higher) to
invest in great markets.
Market Insight: A good turnkey
company knows their market with far
more precision than an outsider would.
You might be able to do some research
on a particular area and check out the
Cool shawarma or chilling spots, crime reports, and price
ranges, but a turnkey provider will
know the heart of an area. They will
know why people prefer one area over
another. They’ll know why this street is
worse than that street. They’ll know the
reputations behind certain
neighborhoods, properties, and
businesses. They’ll have an ear to the
ground about societal changes that
could affect the local economy. It is
very difficult for an outside to gain this
perspective, as it is normally reserved
only for long time locals, which a good
turnkey provider should be.
Professional Staff: Turnkey providers,
because they are property
management companies, will generally
have either in-house staff or work
closely with vendors to make sure your
property is taken care of. When you invest on your
own, you either have to do all these
roles yourself, OR you’ll need to find
them in a market you may not know.
Marketing Machine: Many turnkey
providers buy, sell, and rent dozens or
even hundreds of homes per month.
For this reason, they are required to
consistently drive leads into all the
parts of their marketing funnel. They
might use billboards, radio ads,
newspaper ads, and more to drive both
motivated sellers and tenants to their
business. For this reason, they may find
better deals than you could, as well as
get tenants faster.
Management Experience: Let’s face it,
most people are not good managers.
Turnkey providers, on the other hand,
are usually experienced in dealing with
tenants and contractors. Their
experience helps them make the right
decision more often.
Simplicity: Finally, although each
turnkey company operates a little
differently, they all have the same goal:
to make the investment property easier
for you. When you invest in real estate
by yourself, you are forced to handle all
the moving parts yourself, which can
be overwhelming. A turnkey real estate
investment company attempts to
simplify the process, so you ideally will
only need to write and receive checks.
To be continued
|Re: The Real Estate Business Thread by Alaroro(m): 8:26am On Feb 23, 2015|
The Downside of Turnkey Investing
Now at this point, you are probably thinking
to yourself, “ Wow, turnkey sounds heaven sent. Why wouldn’t everyone do this?”
There are some potential downsides to
turnkey investing you should be aware of
before you jump into that kind of investing,
so let me walk you through the two big ones:
Financial: A turnkey company is a
business that needs to make money,
and they do this through several
methods. First, turnkey companies
often buy the property at a discount
and sell it to you, for a higher amount, essentially. Then, the turnkey
provider makes a monthly income by
managing the property for you.
Therefore, it would make sense that
you will be paying a “premium” for the
ease of service you are getting. You
generally can’t have your cake and eat
it, too! That said, remember that
turnkey companies DO have a
marketing machine running 24-7, and
as such, are generally able to find
incredible deals in their market, so
even if they do make a profit when they
sell to you, you might still be buying
“below average” and getting a great
Trust Needed: Perhaps the greatest
risk when choosing to invest in real
estate through a turnkey company is
the level of trust you must place in this
provider. After all, you are relying on
their knowledge and expertise to
choose a location, choose a property,
choose a tenant, and manage that
tenant. That’s a lot of trust you are
placing in someone else who gets paid
whether or not you make a good
investment. It would be fairly easy for a
turnkey provider to take advantage of
investors by encouraging
them to buy bad properties in bad
locations. In fact, I’ve heard many
horror stories of investors who buy a
property through a turnkey provider
only to discover soon after that it was a
Basket that immediately
began costing the investor a lot of
money in repairs imagine experiencing that especially now when the country's economy is tensing up.
So, should you invest in real estate at a
distance through a turnkey company? That’s
a decision only you can make after careful
investigation into a particular company..
There are both benefits and disadvantages,
so I would weigh those against the
possibility of investing in your own market.
If you live in an expensive area and want to invest in lower-priced properties, turnkey
can be a great alternative to being a local
landlord. Just be sure to do your research
and know what, and who, you are investing in.
|Re: The Real Estate Business Thread by Alaroro(m): 9:24pm On Apr 13, 2015|
QUESTION:I see TONS of new investors wondering how
they can get started in real estate with a great salary but no assets or savings.
Honestly, I bet if we "googled" for the most
popular nigerian questions you would see 100% “oso free.”(No money down)
While there are tons
of additional great books, podcasts and
forums posts on this subject(which are important), many people
ignore the simplest, the easiest 0%-5%
Start with personal properties,I know this is controversial, and there are
many different camps on this philosophy. I
have seen a lot of articles on why not to buy
houses as personal properties, but I wanted
to give my opinion on why I am a believer
in this being the most “valuable” type of borrowing.
1.Lower Down Payment & Interest
Rates: If you buy a house as a personal
property, you can put 0-5% down, and
pay .5-1% lower in an interest rate. I
know when we were running the
numbers a year ago, we even noticed
that this lower interest rate has
reduced our payments close to what a
20% down payment and higher
interested rate equate to! Although the Instability in the nations economy currently will definitely affect policies related to getting a personal property so its likely this figure may have changed so investigate closely
2.Tax Savings: Although its pretty peculiar in Nigeria because of our poor tax records however Depending on your tax
situation, being able to declare your
mortgage interest off schedule "A" of
your taxes could have a great benefit.
3.Lock in Potential Depreciation: Once
you own in a neighborhood e.g: lekki gardens etc. If it appreciates, you are able to experience this appreciation. While the same is
true if the market falls, if you have an
“exit” plan of being able to rent your
home out, this becomes much less of a
4.House Hack: If you own the house, it is
a lot easier to sublease. We have had
many friends who have lived rent free
by simply putting up with roommates/housemates.
They have had other people paying for
their mortgage and “house expenses”
while they are building other baskets!
5.Easier Ability to Purchase:
Especially in states like Lagos,there are
Upcoming number of programs for first time home
buyers or even home buyers(check with the local government council). We have
had a much easier time qualifying for
our personal homes versus the ones
we buy as investments from day one.
Ability to Get Your Foot in the
Door e.g: i know a couple who got started at 23 and 25. As
Strange as this sounds, getting started in
the traditional way, buying their first
house, they got to learn a lot and now when things go
wrong they have a good idea about what
is going on even if they hire the handy
man instead of doing it themselves!
6.Higher Leverage Possibility: Since
personnels have less of a required
amount down and tend to be more
“lenient” (again bank dependent), it is
easier to buy a lot more houses, a
duplex, or fourplex to leverage and
begin your real estate career. While it
definitely is not always a great plan, if
you have ways for others to pay off
your mortgage (house hacking, multi-
family, etc.), it can be an awesome
To be continued.....
|Re: The Real Estate Business Thread by Alaroro(m): 9:27pm On Apr 13, 2015|
While there are lot of negatives to this
strategy, there are also many myths!
1.Waste of Money: We have bought in
areas where our mortgage payment
was less than rent, so someone else
ends up paying. That’s not even taking
into account the role that taxes or
2.You Need 20% Down: I see a lot of
people comment that you should have
at least 20% down before you buy a
house. Many more mention
refinancing. Personally, we try to do a
loan ONCE. Therefore, instead of
pulling money out, only buy once with
as little down as possible. This way,
when we move on or have roommates,
someone else is paying our mortgage.
3.You Have to Hold Long Term: Many
people buy personals and move on
when their life requires it. Upgrading
due to an increase in your family,
moving to a new location, etc.
4.Smaller Profit Margin: For me this is the koko Of course, if you put less in the
house, your mortgage is going to be
higher and therefore your cash flow is
going to be less. On the other hand,
this means you are going to have less
paid into the house and that your
tenant will be paying off your asset
(which is my ultimate goal). This is why
I look at “cash on cash” returns. So my
profits are based on what I put into the
|Re: The Real Estate Business Thread by Alaroro(m): 3:20pm On Jun 15, 2015|
Well not only the Nigerian market has that problem, it's a general market problem especially with the forces of
Modern day economy, even with the american dream concept, selling a house in America is no stroll in the park, as you should know by now, just having a
website will never guarantee that you will
generate business from it. On that same
note, just getting lots of traffic, and even
attracting a good amount of leads, does not
mean that you will actually get new clients
Successful lead generation campaigns –
ones that produce actual business – must
be comprised of all of these elements; a
great website, a strategic traffic generation
campaign, strong calls to action and one
more thing….an effective lead nurturing campaign.
This articles focus is to teach you how
to nurture real estate leads with content
marketing so your website and marketing
efforts can produce actual business for you.
What is Lead Nurturing?
There are three main strategies to make an
online marketing campaign successful: (1)
(2) lead generation and
(3) lead nurturing.
Traffic generation is all about getting
people to your website whether that is from
paid advertising, social media or my personal favourite word of mouth aka "famzing"
Lead generation is focused on conversion
optimization of your website and using and
testing calls to action to produce more
Lead nurturing is a system for continuing a
conversation with a prospect from initial
contact until the person is ready to become
a client. By providing useful information and
keeping your name / brand in your
prospects’ minds you stand a much better
chance of converting that lead at a client
One strategy that can, and should, be used
throughout all of these three of these to
make them as effective as possible is
content marketing. Given the amount of
topics and relevant information that real
estate professionals can use to provide
valuable content, content marketing
remains as a staple for producing traffic,
leads and sales.
Below are 3 primary ways to use content
marketing to nurture, and convert, your real
Using Content Marketing
to Nurture Leads
Lead nurturing campaigns focus on creating
mutually-beneficial working relationships so
that when it comes time to buy, that lead
turns to you, or your business, instead of a
While the first step in lead nurturing is
making sure you have the right contact
information, it’s important to realize that
consumers are using more than a phone
to stay connected.
In order for you to connect with buyers, you
need to be present on social media and on
the platforms where buyers are searching.
To be continued.....
|Re: The Real Estate Business Thread by Alaroro(m): 3:22pm On Jun 15, 2015|
Here are some ways to use social media
to pull your real estate leads through
the buying cycle :
Use social media to answer
questions. These can be customer
service questions, home buying
questions , blog posts
and the latest in home buying in your
area are all types of content you can
use to nurture leads. A great real estate
video could be the final push someone
needs to make an appointment while
blog posts are an easy way to get social
shares and new eyes on your website.
You should know by now that not every web
lead you receive is going to be ready to buy
a home right away. As a matter of fact, few
of them probably are. However, this doesn’t
mean you should shrug off these leads or
consider them unworkable.
You can appeal to those who aren’t ready
now by using your blog to keep your
business and name in their minds until they
are ready to do so.
An effective lead nurturing campaign
positions you as someone who cares about
each and every prospect, no matter what
stage of the buying cycle they might be in.
Here are some effective ways to nurture
your real estate leads with your blog:
1.Find a niche and talk about it on
your blog . By having a blog available
for people you meet and work with to
view, you can establish yourself as the
kind of agent they’re looking for.
Perhaps you come across a number of
people looking for someone
knowledgeable in a certain type of
architecture or home building
materials used. Write up posts on these
Mix in some posts that aren’t just
about buying or selling a home . Your blog can advocate
your business and agents, but shouldn’t
be pushy. You’re nurturing, not selling.
Think outside the box with
unconventional topics . Try posts
about public services in the areas of
your listings or opinion pieces on
community events and developments
that shape your neighborhoods.
To be continued...
|Re: The Real Estate Business Thread by Alaroro(m): 3:23pm On Jun 15, 2015|
Email is still the top online activity of
Internet users. If you aren’t using email
marketing yet, you should be.
Email allows you to connect with home
buyers without interfering with their already
busy schedules while sharing your blog
posts, listings, etc. You can help move home
buyers to making a purchase by keeping
them up to date via email.
Here are some common, but results-
oriented, ways to use email to nurture
your real estate leads :
Segment your audience. Be sure to
separate out sales-ready buyers from
those still in the early buying stages.
You want your lead nurturing emails to
go to the right people at the right times.
By analyzing their clicks and
interactions, you can see when they are
approaching the final stages of a
buying decision. With each stage,
change up your content and your call to
action so the email marketing is geared
to the right audience at the right time.
Add value. Make sure your emails add
value to each person you’re sending
them to. Include helpful information
To entice your
recipients to click.
Every Lead is an
As with any form of marketing, make sure
your timing is strategic and that you’re
tracking the results of your efforts. There’s
no way for you to optimize your efforts to
get the best results unless you’re properly
tracking, analyzing and refining based on
Proper tracking will allow you to start
looking at every lead in a different way –
each as valuable as the next. With lead
nurturing campaigns, you can turn old, cold
leads into new opportunities won – even if
that means 12 months from initial receipt.
Content builds trust while establishing you
and your business as useful, authoritative
industry resources. It also gives you
something to constantly grow your social
sphere which will only become yet another
network of possible business for you.
|Re: The Real Estate Business Thread by Alaroro(m): 3:50pm On Aug 03, 2015|
There is no time when poor economy affects the market to drastic measures it may perform slowly but there's always a system that works for every situation, first of all you should debunk the two popular myths associated with generating leads in real estate marketing
MYTH #1:Visitors are most interested in who YOU are.
Well, yes, they do care, but not right away.
Real estate prospects who come to your website generally want to see what they searched for. If they like what they see, then they will check out your profile.
However, if you don’t have the information, resources or tools they are looking for, then you can bet that they will be moving on before even looking at that pretty face of yours.
TIP: Don’t make your website primarily about YOU.
Include your personal information and qualifications in the “About” section of your website, but don’t clog up your homepage with it.
Focus your website around resourceful content, user-friendly home search tools and strong calls to action to create a winning formula for quality web lead generation.
MYTH #2:Lead generation trumps lead management.
We have found that this is a very common disbelief among not just real estate agents, but many business owners who lack experience with online marketing.
You might have 500 leads, but if only 10 convert, that’s only a 0.02% conversion rate, and this is not enough to support your business.
Conversion rates this low usually lead to a poor lead management system – one that can waste all of your hard work and money spent on marketing.
TIP: Guide each visitor all the way through the conversion funnel.
Once you get visitors to your website and are able to get them to provide their contact information, your creativity and hard work must continue.
Segment your web leads by any and all information you have collected about them (source, location, interest, stage, etc). Once your lists are segmented then create communications to these lists that specifically target each of these segments.
Lastly, don’t give up on a lead or disregard it just because it is “cold”. Cold leads become “hot” leads at some point….IF you spend the time and effort necessary to properly nurture it.
There you have it, common myths have been debunked and specific tips have been provided. Remember, there are many pieces to the puzzle of mastering your leads generation efforts.
Successful real estate web lead generation and management comes from ongoing processes and hard work….not one off projects that have no follow through.
Lead Generation & Management Takeaways
Two things we would like for you to take away from this article are centered around two main questions to ask yourself:
1) Why would anyone want to visit, and more importantly, remain on my website?
Create personas and develop your website to cater to them. This will guarantee your visitors will like what they see and increase the chance of conversion.
2) Do I really have an effective lead management / nurturing system in place?
Don’t just rely on automatic response emails to follow up with leads. Your customers will really appreciate a personal email from you every once in awhile, which will develop stronger relationships. Demonstrate patience and interest and follow up with the needs of each customer.
Follow these two things, at the very least, and you will begin to see results.
|Re: The Real Estate Business Thread by Alaroro(m): 11:50pm On Sep 22, 2015|
Although not very popular in Nigeria,
the real estate industry is actually
one of the most tech savvy
industries around today. The
necessity to cover numerous
territories and the demand to
provide all inclusive services makes
the real estate professional almost
dependent on the technologies
available to them.
This dependency has pushed many
real estate professionals to jump on
new technologies and quickly
become familiar with the various
ways to maximize their time and
build their businesses by attracting
new buyers, sellers and investors.
The bi-product of this trend has
been a strong demand from the real
estate industry for technology
companies to continue pushing the
envelope to build faster, more
efficient and more effective real
estate marketing technologies.
Sorry to disappoint, but
don’t expect Twitter or
Facebook tips from this
New Marketing Technology for Real Estate Professionals
Technology for the real estate
industry has evolved so quickly. We can still
remember nokia 3310 and the siemens "green light phones" being ‘high-tech’.
Every Realtor seemed to have had
one as it allowed them to be even
more accessible than most real
estate professionals probably
intended. These types of
technologies changed the way we
thought of and worked with a
Realtor. Now, our real estate agent is
more accessible than ever, which
leaves them with less time in the day
to focus on important aspects of
their business, like marketing their
business and their clients’
Welcome new marketing
technologies that make a real estate
agent’s job more about inbound lead
generation and less about call
volume and how many business
cards can be passed out in one day.
Real Estate Technology Goes Local
Searching for Real Estate Made Easy:
It is rumoured that Geo-Fences maybe coming to nigeria soon. We
feel that technologies like the one
we’re about to mention will help to
change the way real estate is
marketed and discovered by
prospective buyers, sellers and
The real estate technology market
has been flooded in recent years
with “location-based” applications to
help buyers find properties in their
area. With little variation, they all
work in about the same way:
Start an application on your
Utilize your phone’s GPS to
determine your location; and,
Have the application retrieve
location-based real estate
What if a prospective real estate
buyer didn’t have to initiate an
application to get real estate data?
What if the data just came to their
Sound far-fetched? Well it isn’t.
Advertising company, deal dey, has
developed services and we think it has very
interesting implications for the real
estate industry. These sevices allows
users to opt in to receive marketing
messages on their phone from retail
stores that are nearby. For example,
a person would sign up for alerts
from kotangoa and would
automatically receive tailored text
message marketing notifications
each time they were close to kotangoa market(google alert may also be useful)
This could work in the same manner
for the real estate industry. Users
could opt in to receive alerts about
specific types of properties. And
when they near those properties,
they cross a “geo-fence” which
prompts an automatic notification to
be sent to their mobile phone.
Essentially, a person lives their life
and in the meantime, receives
notifications about properties they’re
close to that match what they want.
Is this ideal marketing or what?
Where Is Real Estate Marketing
The way we see it, real estate
marketing is going to continue to
evolve and improve to a point where
just about every step of the
marketing process becomes so
automated that a Realtor can literally
start and complete an effective
marketing campaign in minutes
from their phone or computer. We
are a long way off from this
currently, but with the addition of
new technologies like the one
mentioned above it will not be long
before homes start marketing
|Re: The Real Estate Business Thread by Alaroro(m): 3:50pm On Oct 20, 2015|
Being Overly Exuberant
Many newbies are very excited to have
discovered the world of real estate
investing. They should be as it can change
their lives. But this excitement can lead to
an over-exuberance, which in turn can lead
to poor decision making. They will want
to get started so badly that a mediocre or
poor ojodu berger out skirts deal will begin to look good. Many will
think that they just need to get their first
deal and then things will flow from there.
And while there is some truth to that
statement, you cannot let your guard down
and take any deal just to “get one done.”
Being Too Trusting
Many first timers are simply way too
trusting. The sad part of this business especially in Nigeria is the fact that you get to see a totally different
side of people when dealing with tenants,
contractors, and other investors. These
dealings often leave us more experienced
folks with a discerning eye.
I hate to say it, but you sort of have to come
into this business thinking everyone is
trying to get into your pocket and pull one
over one you. Not everyone is, of course,
but there are many out there who are.
Always remember that if the story sounds
too good to be true, it likely is. “Shine ya eye” is a good mantra to use. Remember
to get everything in writing and to be very
careful about who you give your money to.
It can be very hard to get it back.
Not Doing Basic Research
Most newbies(JJCs) understand that they have to
run the numbers on any deal, but there is
also some other basic research that can and
should be done to prevent a potentially
serious mistake. The internet has made this
so simple now. Simply running the property
and the seller through Google is one simple
thing that may yield interesting results. You
never know what you might learn.
Forcing the Numbers
Perhaps this is a bit related to item number
one above, but I have seen new investors
think that they can bend the numbers to
their will. That they can force the deal to
work. The thing is, they can’t. The numbers
do not lie, and if they are telling you that a
deal is not there, believe it is not there and
move on. Sure, run your numbers again,
look for mistakes, and even ask for advice
from a trusted investor friend. But if the
numbers still say no, then move on. Nothing
will end your career more quickly than
getting into a bad deal.
Underestimating Rehab Costs
This is the most famous of them all if you see a nigerian man who invested in real estate and lost all his money, ask him he probably made this mistake as Nigerians we always want Return on investment quickly but
Underestimating a rehab can quickly lead to
a busted budget and a problem. Rehabs
can be very tricky and very complex. There
are a lot of things that can be hiding and
things that a newbie can easily miss. Your
best bet when starting out is to find a
simple, patch and paint rehab. Otherwise,
be sure to get estimates from trusted
colleagues or from contractors. Again, if the
numbers do not work or if you are just not
confident on the costs, move on to the next
Thinking Real Estate Investing
"E dey always sweet when alao alakija or robert kiyosaki is talking about investing in real estate" however, Real estate investing is not easy. There is no
simple, clear cut formula that will bring you
instant success. Do not believe what many
of the gurus say, and do not be so quick
to purchase the
dream they are selling. That is all it is: a
dream. I can assure you that you will
quickly get discouraged and end up
thinking real estate investing is a scam. Yes
Everyone will make mistakes. You will too,
no matter how hard you try not to. I hope
those mistakes will be small and end up
good learning experiences. The moral of the story is that people
survive and learn from them. You can as
well. But let’s try our best not to make them
in the first place.
|Re: The Real Estate Business Thread by Alaroro(m): 5:44am On Dec 28, 2015|
|Re: The Real Estate Business Thread by Alaroro(m): 5:53pm On Apr 04, 2016|
4 Practical Steps to Find
Your Perfect Real Estate
As always, there is a right way and a wrong way to do this ,and it’s my goal today to show you, step-by-step, the practical way to successfully find a real estate mentor.
Why Do You Need A Real Estate
Mentor in the First Place?
Well, because I have met very few
successful, long-term real estate investors who have made it without one.
Having a seasoned investor to bounce
comps with, ask advice, and grow with is something that I believe is the most crucial step in becoming a real estate investor.
If you do it alone, you’ll make a lot more mistakes and struggle a lot more than if you
had taken the time to seek the influence
and insight of a mentor and in a country as unpredictable and hypercompetitive as Nigeria you may find yourself in an endless loop of mistakes and lessons.
Should You Pay for a Real
You know, my answer may surprise you, but if under the right circumstances, I think it is
possible to benefit from a paid mentorship stop the alaroro mentality.
In essence, it should function like hiring a business coach who specializes in real estate investing.
If you pursue that route, however, I would caution that you need to be 100 percent sure that they’re not going to promise you the world and ultimately not deliver.
There are a lot of real estate gurus out there who would love to take your money and leave you in the dust. Don’t get caught in their trap!
Though I think a paid mentorship under the right circumstances could work.
Step #1: Find A Seasoned Real
Sometimes people have difficulty finding a seasoned investor in their area.
you can do a search for cash-buyers
who have bought in your area over the last six months and then reach out to them that way.
Once your potential mentor is found, invite them out for lunch or stout.
Step #2: Don’t Ask to Be
Though I have a heard of a few people who started off this way with me turn out OK, the vast majority of people who ask me to mentor them within the first time of meeting typically were a waste of my time.
Asking a real estate investor to mentor you the first time you meet is similar to going to a bar and asking the first woman you meet to marry you.
Doesn’t usually turn out well!
My first suggestion would be to take it slow. You need to make sure that the both of you fit well together and mutually benefit from
In your first meeting, I would ask them
What are your core values?
What are some things you’re
passionate about in life?
What kind of investing do you do,
and how do you do it?
What would be your suggestions for
me, as a complete beginner?
Do you partner on deals on a case-
Listen far more than you speak in this first
Step #3: Discover Their Needs
in a Non-Arrogant Way
Next, I’d seek out to discover what their business is lacking. Maybe your potential real estate mentor is a one-man operation,
and taking all the motivated seller calls is weighing on him (or her).
Maybe they’re overwhelmed by having to
view too many properties and are in need of
some extra help there.
Or maybe they’re terrible at utilizing online marketing and are missing out on that huge opportunity.
Whatever it is for their specific situation, once you’ve found it through asking strategic questions, offer ways that you may be able to step in and help.
Here’s a big key, though: DO NOT do over sabbi and tell
them how to run their business or
come across as a know-it-all!
You’ve got to take the humble route, my friend(siddon observe). You have never done a deal (or have
done very little) compared to this investor,
and you are in no place to preach to them.
Your communication needs to come across
as simply wanting to help and learn.
Suggest running social media for them,
helping out with some motivated seller calls,
or cleaning their office even!
Then once they make a suggestion of
something you can do, go far above their
Under-promise but over-deliver, meaning
wow them with your responsiveness and
work ethic. If they ask you do 5-10 hours,
give them 15-20 or even full time without
asking to be compensated for it.
Genuinely show interest, and let your work
speak for itself.
If you do this, the more value you bring (if
they’re a decent person and a worthy
mentor), the more your mentor will help you
To be continued....
|Re: The Real Estate Business Thread by joeybankz: 12:03pm On Nov 15, 2016|
Realestate.com.au app download has been considered as one of the best real estate app for android because of the way it was designed, and also it is easy to use, for an app considered to be in the top 10 real estate apps for android, I think anyone interested in having a property in Australia should consider this app.
|Re: The Real Estate Business Thread by Alaroro(m): 10:00pm On Dec 08, 2016|
ahem i go take 65% of your proceeds for ya advert
|Re: The Real Estate Business Thread by accattoni(m): 9:04am On Aug 07, 2018|
Quite a comprehensive thread you've made here, yet I'm not sure getting a job in the real estate business will be the real thing in the near future. Frankly, the whole industry has become simplified and so screwed up, because now you barely need somebody but the lawyer only in order to keep your real estate routine clear, even all the papers you can get online, as well as to fill and sign the commercial real estate contract If you need some assistance, just go and ask through the forum threads - there's too much information on it
|Re: The Real Estate Business Thread by hamescod: 7:50pm On Sep 12, 2018|
7ft by 7ft used container shop for sale in abeokuta, Ogun State....contact 08131167061 for details.
|Re: The Real Estate Business Thread by estatengcom: 12:25pm On Nov 17, 2018|
How to value the cost of a house in Nigeria Online
you can estimate the cost of a house for free in less than few minutes, provided the house is in Nigeria.
you can check the worth on https://estateng.com/property-worth/hsev/
its absolutely free and easy to use.
|Re: The Real Estate Business Thread by ssolaoye: 11:21pm On Apr 04, 2019|
How To Start Your Own Real Estate Business In Nigeria
These days, real estate is considered to be one of the most profitable and growing businesses. In the Nigeria of today, you can make a lot of money by starting a real estate business, whether as a real estate agent or as an investor.
Starting your own real estate business is a good carrier option that comes with a lot of difficulties and challenges. This basic guide will equip you with the knowledge and information you need to acquire to start your own very successful real estate business in Nigeria.
|Re: The Real Estate Business Thread by Nobody: 3:37pm On Apr 28, 2019|
There is no doubt that the job opportunities in real estate is unquantifiable
Join Here>>> https://online-estate-biz.
|Re: The Real Estate Business Thread by NaijaPress: 6:23pm On Jan 20, 2020|
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, real estate is one of such businesses.
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