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REAL ESTATE: 6 Profitable Ways To Invest In Real Estate In Nigeria - Investment - Nairaland

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REAL ESTATE: 6 Profitable Ways To Invest In Real Estate In Nigeria by MariaDee(f): 9:35pm On Jul 11, 2021
REAL ESTATE: 6 Profitable Ways to Invest in Real Estate in Nigeria

Real Estate in Nigeria, like in many parts of the world is an ever-increasing-in-value investment that must not be slept on! Many people are oblivious of this. A few know about this basic fact and have been drinking from its rich and profitable stream.

Today, many people are very skeptical about venturing into real estate investment due to a number of factors. However, Expert Properties expressly states that “real estate has many advantages over investing in stocks, bonds or mutual funds.”

According to Millionacres, there are several ways to invest in real estate, each with different capital requirements, risk levels, and investment dynamics. Let’s dive in!

1. Buy a rental Property

This is one sure way of making monthly or yearly income in Nigeria. It is not enough to buy a home and that’s the end. This is a much wiser alternative to buying a house, especially when there is not enough money to maintain it.

The trick is this, buy from areas with high rent and lower tax payment than the rent. An example is buying a property in the Island part of Lagos Nigeria, such as Lekki, Victoria Island, Ikoyi and the like.

However, there are two downsides to owning such a property, one of which is paying a lot of cash upfront before purchase and after (when it comes to maintenance).

The other aspect is having to deal with tenants. If you are new to this, you will come across different tenants, which you must screen. Some would wear you out with stories that touch others may not. If. However, you are the type that yields to people easily, you may want to outsource these aspects to a property management service.

Thus, depending on who you partner with, rental properties are really lucrative and can serve as a form of semi-passive income.

2. Practice house hacking

You may be wondering, what is house hacking. Wonder no more! House hacking is a real estate investing strategy, which according to Fortune Builders, helps investors earn rental income by renting out their primary residence.

How is this done practically you ask? Now, let’s say you have a duplex, you can rent out one of the units while you stay in the other unit.

This is an easy way of making cool cash you don’t want to sleep on. It reduces housing cost, gives you flexible options, helps you learn how to be both a landlord and property manager easily and helps you grow your wealth passively.

Read more here https://www.teachdeworld.com/real-estate-6-profitable-ways-to-invest-in-real-estate-in-nigeria/

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