₦airaland Forum

Do you want to discover how to make N1million in 30 days and daily payments of N1000 bills flowing to your account, including gaining access to Top Premium Money Making Training Courses for free? Comment FREE (in my whatsapp inbox on my signature) to get the info now.
No e-mail or phone number should be posted here please. Don't stop others from having a life changing opportunity. It comes once in a long time.
If after ten days, no one that followed through has a testimony, this thread must be taken down!

God bless....

With all this information, I would start listing certain locations in Lagos (that's the only area I know for now and I might extend to Abuja and Port Harcourt later) where you should invest, what makes them right for you, etc.
You can contact me for how to get those properties. However, if you have properties that align with the indices I would be divulging, and you want them sold off or rented, you can also contact me to get it done for you.

So, let's kick on..

Modified:

Here is a link for that on nairaland:

https://www.nairaland.com/5899869/genuine-properties-sale-lagos

To avoid derailing the thread.

Real Estate Appraisal

What is Real Estate Appraisal

Real Estate Appraisal, also referred to as property valuation entails developing an opinion on the real value (market value) of a property.

The need to do real estate appraisals occur since the transactions are far in between and the value of the transactions involved is usually big. Another reason why valuation is done is because each property is unique.

The appraisal reports will be used by financiers to prepare mortgages. They also form the basis of settling matrimonial property proceedings during divorce as well as tax due.

Most countries use the property valuers to establish the highest and best use that can be attached to the property.



Approaches to Property Appraisal

Sales Comparison Method

In this approach, the property appraiser will compare the features of the property at hand with those of a recently sold house. The assumption here is that no rational individual will pay more than what was paid for another house with similar amenities. Buyers will always compare the asking prices of houses that have the amenities they need. They will be looking to pay the least negotiable price for it.



Costing Method

The assumption in this method is that a rational home buyer will only be willing to buy a house for the price of building it. Sometimes, the buyer will even pay lesser than the market value arguing that the house has depreciated and will need extra renovation.



The Income Method

This is usually used on income generating properties. The valuer will get data on the income generated by the property using capital multipliers on the net operating income.

I'm not very skillful at this, as there are trained professionals for it. However, there are properties valuation calculators you may discover and use yourself.

Drawbacks Of Real Estate

The only major problem with investing in real estate is its illiquidity. Converting an asset into cash takes months. Depending on the market, finding a buyer of the property can be difficult even with the help of a broker.

If you want high liquidity, REITs and mutual funds are an alternative. REITs offer better market pricing while mutual funds offer more liquidity by pooling resources from different investors.

Unfortunately, even this solution comes at the expense of diversification and price stability since these two instruments have more correlation with the securities markets than direct investment into real estate.

But people like us know how to market and sale any property once the value increases. If you know, you know.

How To Diversify and Protect Your Real Estate Investment

The Power of Hedging Inflationary Pressure

Real estate demand will only grow if the economy’s GDP is expanding. This means that as the economy expands, there is more real estate projects going on. This triggers higher rent rates. The higher the rents the higher the value of capital.

Real estate will hold constant the purchasing power of the capital. Investors are cushioned from Inflationary pressure by passing it on to the appreciation of property’s value. Some of the pressure is also transferred to the tenants.



Leveraging the Investment

You do not have to pay all of your mortgage at once. You will have it staggered over a period of time during which the interest rates may fall or increase. If you have invested in a piece of real estate in an expanding economy, the payable interest rates on your mortgage will fall, but the value of your property will continue to appreciate. But is the Nigerian economy an expanding one? Hmm... Do this at your own risk.

Investment Groups In Real Estate
These are the preferred investment instrument for the investors that want to own a piece of real estate but don’t want the hassles of being a landlord. The group will buy or build a property.

In this property, individual group members will own one or several units, but it is the corporate group that will be responsible for tasks such as advertising vacancies, maintenance of the property etc. In exchange for giving you that service, the investment group will take a percentage of your rental income.

You are encouraged to get into a real estate investment group because even if your units are vacant, you will still receive your rental income. This means that there is no way you are going to default on your mortgage repayment just because your units are empty.

I would elucidate on this later. Giving succinct outlines of groups that do rent to own, buy and build, buy and it would be built for you, by for resale, etc in Nigeria...
I just hope that would not be seen as an advert, but rather as a dissemination of information.
We go see...

Trading vs. Buy-Rent Landlords


Real Estate Trader Vs Buy-and-Rent Landlord

A short-term investor in Real Estate VS A long-term investor in real estate

Holds property for 3 to 4 months and then sell for profit Vs Holds property for a long period and gets rental income from the property.

Buys undervalued property or a property located in a hot area to make a quick sell (flipping) Vs Buys property in almost any area as long as the neighborhood has high rental income.

Being unable to sell the property can be disastrous. He usually never keeps ready cash to be able to service his mortgage. Vs He doesn’t need to sell the house. He can use the rental income to service the mortgage.

Sometimes renovates properties at a small cost to increase their value VS He has to keep the property in optimal condition in order to maintain high rate of occupancy.
U don see the difference? Different strokes for different folks.

Best Practices In Real Estate Investment

Take out a Mortgage

You can take out a debt (loan) called mortgage to buy a property that you can otherwise not afford. There is danger in using this leveraging tool in that in case the market takes a downward trend, the interest on repayment may increase. This has the potential to make you bankrupt.



Forming LLC’s or Limited Partnership

Instead of using the Mortgage, you can form a limited liability company or a limited liability partnership and take out a loan from a financial institution to use for making your real estate investment. The advantage here is that in case the deal goes bust, you will never suffer personal loss. May God help our work for Naija.

How to Make Income Every Month Using AirBnB �

AirBnB is a marketplace for travelers to book short-term rentals. The rentals extend from apartment to hotels, to homes. AirBnB connects travelers with hosts, travelers are provided a place to stay, and hosts with a way of creating an extra income stream.



In this post, you’ll learn exactly how to get your FIRST AirBnB booking, which can lead to more bookings that can eventually provide another stream of income for you.
Before we begin…



Put yourself in the travellers mindset, what would you look for in a listing if you were staying in your city?

How to Create a High Conversion Listing That Sells



1. The Title



The title is mostly self-explanatory. It needs to be eye-catching, along with an accurate use of words that potential guests would be using.



Guests have already selected the city they’re staying in, so don’t bother including the city name. Try to include your property’s defining characteristics, such as its view. Use all of the characteristics you can in a productive manner that will drive potential guests to click on your listing.



“Times Square walking distance” included in your title would be an ideal selection of words to get clicks on your listing.



As mentioned before, this is very self-explanatory, if you were looking for a place to stay in your city, what would you search for?





2. The Description



Optimizing your listing for a booking starts with your description. Your description should of course properly detail the residence, bedrooms, bathrooms, amenities, and all the other necessities, but in a more elegant tone.



By elegant I mean instead of putting “near bars and the beach” what would be more attractive is “The perfect location, great bars and restaurants are no further than a 10 minute walk, accompanied by a short 5 minute stroll to the beautiful headquarter of Nairaland (lol). ” Of course the description needs to be tailored to your location.



In your description, make sure to employ headings and bullet points, information broken up into small, bite-sized pieces are better than information chunked together into a longer paragraph, for example:



2 bedroom, 1 bathroom apartment, kitchen with a microwave, oven, and appliances all included. Located on the 5th floor, lots of windows for natural lighting, medium sized living room for friends or family with cable TV.



Or use bullet points:



The Building:

- 2 bedroom, 1 bathroom medium sized apartment

- Kitchen with everything you would need, including a microwave, oven, and even appliances for your everyday needs

- Located on the 5th floor, there are lots of windows which provide natural lighting for an enhanced experience

- Along with a medium sized living room for friends and family, that also comes with cable TV for entertainment



The Bedroom:

- 1st bedroom includes 200 square feet, full sized bed, carpet floors, a closet, 2 bedside tables with lamps on each table, along with cable TV.

- 2nd bedroom includes 130 square feet, full sized bed, carpet floors, a closet, 1 bedside table with a lamp, and cable TV.



The Kitchen

- Updated kitchen

- Microwave, oven, appliances

- Stocked with snacks provided for your stay

- Pantry

- An island for preparing food, and eating.



As you can see, the more detail, provided in a way that makes it easy for a person to digest, can certainly get you your FIRST booking. When writing your description, put yourself in the potential guests’ shoes, does your description scream the perfect location? If so, you’ve done it correctly, if you’re still unsure, keep rewriting the description until you have 100% confidence in it.





3. The Pictures



High-quality pictures are the best pictures, obviously. You don’t need to go out and buy a professional camera. But here are some quick tips to get the best out of it.



Clear the clutter – Make sure the area you’re taking the pictures look mess free, clean, and clutter free obviously.



Lighting is key - Open up those curtains and let that light in. Natural lighting is best, shoot during the day to maximize your quality.



Get the goods – Got a great view? Highlight that. Great kitchen? Highlight that too, make sure the best features of your spot stand out.



Get the neighborhood – If you have a good neighbourhood with nearby treasures, such as a beach, restaurants, etcetera, make sure you get pictures of those spots to encourage a potential guest to book a bed.





4. The Pricing



Because you’re new to AirBnB and have zero reviews, you’re going to want to price your place LOWER than the competition. A general guideline for pricing is go 20% - 25% under your competitors pricing. This can be adjusted based on how much the actual cost is. You’ll be able to determine if your price is competitive based off of how soon you get your first booking. You’ll increase your pricing as you get more bookings and more reviews.





5. The Checklist



After you’ve successfully completed all phases listed above, read over your listing. Proceed to use this checklist to see if you’ve created a winning listing:



- Does my title accurately describe my place?

- Does my title list nearby attractions that can drive a prospective guest to book with me?

- Would I click on this titles listing if I was looking for a place to stay in my city?

- Does my description highlight all the features of my place?

- Did I successfully employ the use of headings and bullet points to make the information easier to read?

- Are my pictures high quality?

- Did I use natural lighting to create a welcoming feeling to my home?

- Did I get good pictures of my neighborhood (or your nearby attractions)

- Did I price my listing competitively? Meaning did you undercut your competitors pricing?



If you’ve checked every box on the checklist above, you’re ready to list your place and get your first booking. What do you do AFTER you get a booking? Keep reading to find out.



I got my first booking, now what?



After you get your first booking comes a very crucial point, making sure you get your first 5 star rating. Before your guest arrives everything should be above perfection. House cleaned, beds made, crown moldings dusted, kitchen cleaned, in essence, you want to make it feel like a new home (even though it’s not). The guest should be impressed the minute they step in the door. You’re doing this to ensure you get a 5 star review, which is crucial to get more bookings in the future. After you get that first review, more bookings should start to flow in, essentially creating a snowball effect.



Before we finish this post, I’m going to provide you with a handful of tips to achieve more bookings.



How to Get More Bookings

Your Response Rate



Your response rate is how fast you respond you reply to inquiries and requests. This affects your search listing, meaning how high or low you rank in the Airbnb search engine.



The faster the response time, the better. To keep it simple, responding within an hour is the most ideal response rate. Responding after 24 hours counts as a late response which hurts your response rate, in turn injuring your listings position in the Airbnb search engine.



Moral of the story, respond fast so your listings position in the search results ranks higher.





2. Your Response Time



Airbnb defines your response time as “the average amount of time it took you to respond to all the new messages in the past 30 days”. That easily explains it. Just maintain a fast response time and your listings search result ranking will correlate with it.

3. Create Multiple Positive Reviews



We talked about reviews briefly in the earlier sections of this post, but we’re going to touch more on it right now. Quality is everything with guests, so provide the guests a high quality stay. Reviews impact your search performance, so having a multitude of good ones is obviously crucial to get guests to book with you.



It’s a simple equation, not rocket science.



- Guests + High Quality Stays = 5 star reviews



- 5 star reviews = More Bookings



- More Bookings = Income



Again, this is very easy to understand, it’s all about creating those 5 star reviews with your guests to get more bookings.



Once your guest leaves you can send them a thank you message and ask for a 5 star review if everything was perfect! Most of the time they will be happy to do so if you simply ask.



Final Thoughts



You’ve just learned how to professionally list your home on Airbnb to create bookings and generate an extra stream of income. I encourage you to go, create your listing, and while you’re creating your listing, refer back to this post through every phase of the process, from title, to pricing, and then read this post again, and go through your listing again. This is to ensure you have a listing that will get guests to book, and get money into your pocket!

How Do Real Estate Investors Profit?

Asset Appreciation

A real estate property appreciates in value due to several factors including:

Lack of free land to build more houses as demand for housing increases. Scarcity leads to price appreciation.
Construction of major infrastructure such as malls and highways near the property thus increasing its accessibility and convenience.
Upgrade of the property with newer amenities.
An upsurge in the economic conditions of the region, turning it into a growth area.
If all the above happens, your property becomes attractive to potential buyers or renters and you can dictate the price.



Rent income

This is also known as cash flow income. Here, you acquire an apartment building and then lease it to one tenant or a host of tenants where you will be collecting rent at the end of every month (year). Consider renting your property as offices, rental residential houses, car washes, storage facilities etc.



Commissions for Buying and Selling Real Estate

This is the money made by real estate brokers who get to keep a percentage of the money paid by the buyer after they sell a property on profit.

There is also the real estate management companies who collect rent on behalf to the landlord and then get to keep a small percentage of the rent money. The real estate management firms run the day to day operations of the estate such as orientation of new tenants, hiring plumbers and electricians to fix faults, ensuring the neighborhood’s security etc.



Ancillary Income

Another way investors in the real estate industry make money is by installing ancillary profit generating infrastructure within the estate. This infrastructure may include vending machines, laundry facilities, ATM’s etc.
*Note that it's not good for your health to allow network provider 's mast around your property. But if money get more value than your own health, no yawa.

Property Features to Look Out For

The Property’s Neighborhood

The neighborhood will determine the quality of tenants and the rate of vacancies. If you invest in a rich neighborhood, your tenants will probably be rich and thus your rental income will be high.

If you buy a property near a university campus, then you are likely to attract students as tenants. The market capitalization of your property will also be determined by its location. Town properties cost more compared to rural ones.



Taxes

Property taxes have a way of eating into your rental income. Talk to the people living in that neighborhood and ask how much they are paying in taxes. Alternatively, you can go to the local authorities and enquire.



Schools Nearby

If your chosen investment is residential real estate, you will need to confirm that there are good schools in the neighbourhood. This is a great way to reduce vacancies in your property. Parents will find it harder to move if their kids are in a good close by school.



Crime Rate

Vandalism, burglary, shootings, and other crimes will make your property investment a hard sell. No one wants to run a business or host a family in such a neighborhood.



Employment Opportunities

Try investing in a residential property near an industrial town or a big city. Bus, railway systems and good public transport are also important. If there is lots of accessible jobs that is a huge factor for you.



Other Facilities

Are there malls, parks, theaters, public transport and other amenities nearby? If you invest in a property that is near all these facilities, it will be very hard not to get a return on investment.



Check with the Municipal Department

Apart from giving you building permits, the department will have all the information on upcoming developments in the area such as parks, condos, a highway etc. You will need to know whether it will be a growth area.



Vacancies in Surrounding Properties

You should never invest in a property whose neighborhood has hundreds of vacancies. You will be competing for tenants with other property owners. The effect of low vacancy is reduction on rent so as to attract tenants.



The Average Rent

In order to be able to repay your mortgage and handle other property expenses such as tax, you will need to be sure that the rental income in the neighborhood you want to invest in will be enough to cover all this and leave you with some profits.



Susceptibility to Natural Disasters

Note that your insurance premiums will be higher in an area prone to disasters such as flooding (if you've seen how some places at Lekki get flooded after rainfall you won't joke with this) etc. All this will eat into your pocket.

Another way is via short term rentals like AirBnB

Property fix and flip. Just buying at 20m for instance, and set the price of the property as 26m for sale in the next 6months. So many naija people no sabi this one...

Other Types of Real Estate Investments


Real Estate Investment Trusts (REITs)

This is the chosen investment instrument for those that do not want to directly construct properties. You buy shares of a company that owns properties. The company will divide all its income in the form of dividends.
Lending Money to Real Estate Investors

Most people consider this a fixed income instrument similar to the bond. However, there is still money to be made from the real estate.

You will lend money to the investor in exchange for a percentage of the rental income. Note that you will not share in the capital gains of the property. Your interest in the investment is confined to the loan principal and its interest.

Lalas247:
Kmt
Guys that will still marry Nigerian women ....
Had one guy o .... when I visited during school days ... from kings college .... this boy will be doing team foreign girl ..
I was browsing Instagram saw he is married come n see his wife (Just being honest ) she looked like a dreg I was like wawu ..... niqqa was punching above his weight

But where is he now married to Average ... so they should stop giving themselves headache ...... as for conversation I don’t blame ladies who don’t chat much what’s the point most of these youths will use that same convo to black mail .... then another will say ladies talk too much
Confused bunch I tell ya ....

Average Nigerian guy is BROKE! DUMB,! LACKS SELF CONTROL! STRUGGLING ! CANT EVEN Bleep WELL ! STILL LIBING AT HOME AT AGE 25 AND UP SHAME ! Scammer ! FUVKBOY OR YAHOO BOY oya go and kill yourselves ...

What is reasonable in what you just typed here?
Ha. May God help us in this country.

DKM123:
Yes o!

Nigerian men are PERFECT. The BEST any woman from America, Japan and Jupiter can have for a husband!

Nigerian women are #$&@likemoney!@#%moneyfck%& !


Did I say, Nigerian men are PERFECT? Oh yes! Okay.

P.S: Nigerian men don't like money.


Smh! Nigerian men. You people are a sick bunch of bullies and I actually have genuine PITY for our women. You men are poison to this poor women and I wish they never have to be with men that feel this way towards them.

So what if they ask for money? It is the way society has raised them to believe the MAN is the provider, the master and the leader and the only way they assert that leadership is to be PROVIDERS. After all, they are told their duty as women is the caring for the family and raising the kids while the men is to PROVIDE MONEY!
You men crying foul here are also of this opinion. So why are you bitter. Choose a struggle.

When you start RESPECTING women the way you all DEMAND respect and tell them they can be Presidents, major CEOs and not shove them aside when they come out for top positions (just because they are women) or tell them to only aspire to marriage and childbirth and serving their husbands and cleaning the house and all this other bullsheet..... Maybe then, they will realise that they are just as intelligent as any man and can think towards being a WO(MAN) of themselves and not less likely to succeed financially than the man.

That time is coming though because our women are very hardworking and very brilliant, yet homely and decent as compared to ANY OTHER WOMEN IN OTHER CLIMES. Who know know!

Stop deceiving yourself. Your last paragraph is completely subjective. Go and read the sociologists reports, relationship gists, etc.
I suspect your work has not allowed you to have adequate information about the social system of your own country.
I mean no disrespect. Women (includingNiherian women) are awesome when you meet the ones with a renewed mind or different way of thinking. But from experiential know ledge, 80% are just from a world I don't seem to fathom.
Someone said the character would be determined by association or work environment. I just got involved with one working for a bank. On my first day of whatsapp chat with her, she requested for money to buy some edibles. I was so shocked. At least courtesy demands.
The whole game has changed. Nigerian girls easily recognize good guys and teach us good lessons. The bad guys too has stopped looking for the good ones because it has become difficult to find them. Thus, almost all (both men and women) just behave anyhow.

If men could respect women and see or want more than what's underneath the cloth, then we would easily identify the good ones. But now, big ass and boob's plus good face has become the key to any gate secured by a man.

I just pray good guys meet good girls and the bad ones just stay on their lane. But that may never happen.

You have been all over her. I can perceive you have been telling hher she's one special angel.
Your world has been full of imaginative thoughts. You can even see her carrying your kids.

She already knows all this. Then her real character can unveil. You should be grateful this happened.
You just have to leave her for a while (no attention ). She wouldn't bulge at first. Later, she would start displaying an humble character towards you. It's their dragonian principle. Because you love her, you would forget all her wrongs, and ignore the warning signals.
In marriage, you have to love your wife. Thus, you would inevitably experience worse than this after marriage. Your type is one of those men who after marriage lost their creativity because the tamer is at home. You would enjoy it when Lagosians traffic delays you from getting home early from work. You'd better heed this warning signs and pick race.
However, you cannot ascertain if my advice is right, until you marry her, and your kids start telling you that they would report you to mummy

Now, let's go into the business/investment proper...

Types of Real Estate Business / Investment

Residential Real Estate -

You can invest in townhouses, vacation homes and apartments buildings where people live in exchange for a monthly rent. All the particulars of the tenancy are put in the rental agreement and undersigned by both you (the landlord) and him (the tenant). In most countries, tenancy lease agreements last 12 months upon which they can be renewed or terminated.



Commercial Real Estate-

These are essentially office buildings. The property can be a small building where you lease to small business owners or skyscrapers that can host a big government department. The lease agreements usually last for several years. The amount of rent payable is calculated per square meters.



Industrial Real Estate -

Warehouses, distribution centers, factory buildings, storage units etc. fall under this form of real estate investment. They offer significant revenue to the investors as they are usually long-term. Additional investments that you can make under industrial real estate are ancillary revenue streams such as car wash machines, dispensing machines etc.



Retail Real Estate -

Shopping malls, multi-use buildings, retail storefronts etc. fall under this category of real estate investment. Apart from the base rent agreed between the landlord (investor) and the tenant, additional money generated from sales by the property’s occupant can be remitted to the investor’s account.

Most investors in this category look for an anchor tenant (usually a big supermarket) to drive traffic into the building.



Mixed-use Real Estate -

If you combine all the above, you get a multi-use real estate investment. Investors in this segment do so looking to diversify their options of potential occupants. You will have an anchor tenant followed by other businesses such as insurance firms, banks, shopping stalls etc.

We'll continue on Monday.

Thanks.

Disadvantages and Problems of Getting Governors Consent

Obtaining a Governors Consent from the Land Bureau isn’t the easiest thing to get quickly despite the importance attached to it and urgency needed to secure a land from Omoniles. On the Government website, it is stated that a Governors Consent
can be obtained in 30 days but that has proven to be very untrue due to unscrupulous civil servants who would do everything to frustrate the process of
obtaining the document without giving them huge kickbacks. A Governors consent that should cost N200,000 naturally could end up costing N600,000 Due to kickbacks, Egunje, Bribes, P.R etc and that 30 days could translate to 6months or a
Year.

In all, a Governors Consent is a very good document to obtain and I advise you to get it so as to free yourself from Omoniles 100%. An advantage of having a Governor’s consent is that you can transfer your land to another person without going to the Omoniles or Family Baale to sign your deed and Form 1c which are compulsory requirements needed before you can process Governors consent. The Omoniles pray seriously for the Owner not to have a Governors consent so that they can make a lot of money running into their Thousands whenever the Owner require
the signatures of the family to start the Governors consent.
Do you now see why C of O is not the ultimate? Stepping aside the criticism of those in charge of processing the C of O, You should try as much as possible to get a Governors Consent for all your genuine lands so as to eliminate Omoniles completely
and live a straight forward life devoid of Omonile wahala.

Have you learned anything so far?

CERTIFICATE OF OCCUPANCY

A Certificate of Occupancy (C of O) issued by the Lagos State Government officially leased Lagos land to you, the applicant, for 99 yrs. All lands belong to the
Government.

GOVERRNOR'S CONSENT
So many Academicians, Lawyers and Intellectuals have tried to define what a Governor’s Consent is and they end up confusing simple minded men like me with
their Big Big Grammar, so am going to attempt to do the impossible by breaking its meaning down and how it operates under the law.
A simple formula to follow is this. The first person on a Virgin Land that has neither been occupied neither by another person nor under acquisition by the Government is entitled to get a Certificate of Occupancy on that land.
If that person with the C of O decides to sell his land to another person after so many years, that person must now obtain the Consent of the Governor before that transaction can be deemed legal in the eyes of the Government. If the new buyer now decides to sell the land again to a third owner in future, that Third owner must also obtain a new Consent of the Governor before that transaction can be deemed
legal in the eyes of the Government and the process continues every time the property changes hands to a new buyer.
In other words, the first person on a land is the only person or group of persons entitled to obtain a Certificate of Occupancy. Every subsequent buyer of that land must get a Governor’s consent. There can only be one (1) Owner of the Certificate
of Occupancy on that Land and it will not be replicated for another person once the land has been sold or transferred to another person. The powers of the Governor to Consent to such transactions can be found in Section 22. Of the LAND USE ACT 1978 as amended this states thus:
“It shall not be lawful for the holder of a statutory right of occupancy granted by the Governor to alienate his right of occupancy or any part thereof by assignment, mortgage, and transfer of possession, sublease or otherwise howsoever without the consent of the Governor first had and obtained.”
With this power, the Governor has the right to grant consent to any transaction quick it thinks has not contravened any Law of the land and if the consent has been obtained fraudulently, the Governor is entitled to revoke such consent immediately.
It is very important for a purchaser of land to perfect his or her document by obtaining a Governors consent so as to have a complete rest of mind. Although its
good to buy a land that already has a Global C of O or the Land has a Gazette, it still doesn’t give you the full satisfaction that you own the land without any form of fear or intrusion by the Omoniles. Your documents have not been perfected and the consent of the Governor to that transaction has not been obtained

Relationship between Excision and Gazette


So for example if in 1981, Victoria Island, Ikoyi and Lekki were all part of one big
Community joined together called Oniru and it had no separation to know which
area is called ikoyi, Lekki or V.I then, and it has an approximate total area square
meters estimate of 100,000 square meters and the Government is interested in that
area and decides to take 70,000 square meters for its self for its own personal use
as an Urban Area or public purpose, it will record this acquisition in the official
government which is Gazette and also record that the remaining 30,000 square
meters (EXCISED PORTION) has been left alone for the traditional family to have
and do with it whatever it pleases it to do. This is the sweet relationship between a
land under acquisition, an excision and gazette.

This thread would be continued here:

https://www.nairaland.com/4647577/one-major-real-business-real

Why?

Because we are going into the core business aspect of it.

It is important to understand some facts before you engage in Real Estate business for commercial or private purposes.

This is a continuation from the previous thread:
https://www.nairaland.com/4624710/how-know-genuine-properties-sale

EXCISION
An Excision means basically taking a part from a whole and that part that has been
excised will be recorded and documented in the official government gazette of that
state. In other words, not having an excision means the land could be seized by the
Government anytime without compensating you even if you bought it “Legitimately”
from the Baale or the Original dwellers on the land.
GAZETTE
A Gazette is an Official record book where all special government details are spelt
out, detailed and recorded
A gazette will show the communities or villages that have been granted excision and
the number of acres or hectares of land that the government has given to them. It is
within those excised acres or hectares that the traditional family is entitled to sell its
lands to the public and not anything outside those hectares of land given or excised
to them.
A Gazette is a very powerful instrument the community owns and can replace a
Certificate of Occupancy to grant title to the Villagers. A community owning a
gazette can only sell lands to an individual within those lands that have been excised
to them and the community or family head of that land has the right to sign your
documents for you.

SURVEY PLAN

A Survey plan is a document that measures the boundary of a parcel of land to give an accurate measurement and description of that land. The people that handle survey issues are Surveyors and they are regulated by the office of the Surveyor general in Lagos as it relates to survey issues in Lagos. A survey plan must contain the following information:

1. The name of the owner of the land surveyed

2. The Address or description of the land surveyed

3. The size of the land surveyed

4. The drawn out portion of the land survey and mapped out on the survey plan document

5. The beacon numbers

6. The surveyor who drew up the survey plan and the date it was drawn up

7. A stamp showing the land is either free from Government acquisition or not

Happy Sunday to you all.

rainmaker12:
People don't just wake up and assume.
If you hide and make calls, go home late, sleep outside, give excuse why your phone should be off always, missing my calls, delete messages, raking anytime I carry your phone, give excuses why i can not fûck, always going to see one uncle, always seeing your uncle, always have different uncles, infact for mentioning that you are going to see an uncle and spend the night there...

I will suspect you and suspect your mother join!

So much experience

DEED OF ASSIGNMENTS

Most people have the title documents to their cars intact and in safe places but fail to ask for the Deed of assignment to their properties which is several times more valuable than cars

A Deed of assignment is one of the transactional document drawn up by a real estate attorney between the current title holder for a particular property and the new buyer.

In real property transactions, a deed of assignment is a legal document that transfers the interest of the owner of that interest to the person to whom it is assigned, the assignee. When ownership is transferred, the deed of assignment shows the new legal owner of the property.

The deed contains very pertinent information for a real estate transaction. It spells out the date when the ownership of the property transfers from one owner to the other. The deed also gives a specific description of the property that is included in the transfer of ownership.

It is very compulsory and mandatory for a Deed of Assignment document to be recorded at the appropriate land registry to show legal evidence as to the exchange of ownership in any land/landed property transaction in order to make the general public and government aware of such exchange or transaction.

Any recorded Deed of Assignment at the appropriate land registry will be authenticated in form of either a Governor’s consent or Registered Conveyance after it has been stamped at the Stamp Duties office.

It is important to Note that the deed of assignment document is not the only document indicating transfer of owner.

The following documents are usually involved when you a purchase is made.

1. The purchase receipt

2. The contract of sale and

3. The deed of assignment

4. The survey plan

5. The Building plan for housing investment

6. Any other title document that may apply

Each of these documents can come at separate times in the transaction process. The seller signs all documents when the transaction is complete and hands over the documents to the buyer.

Land Classification

Land can be classified as either free or acquired. A parcel of land is considered free if the government has not indicated any interest whatsoever in that land. Such land is safe to buy because the title on the land can be perfected without issues.

In most cases, such lands will either have a gazette, a C of O or a governor’s consent.

Now that you understand what it means for land to be free, you should also know that all lands that fall within areas that are designated as ‘urban areas’ are under government acquisition until deemed committed or free.

There are two types of acquisition: 1. Committed Acquisition 2. Global / General Acquisition.

Committed Acquisition

A parcel of land is said to be under committed acquisition when the government has indicated an intention to use that land for a specific purpose such as provision of amenities.

Such lands belong to the government and can never be available for use by individuals. If you purchase land that is under committed acquisition, it will be impossible for you to perfect your land title and you’ll only be occupying the land until the government comes to kick you out.

Global or General Acquisition

Lands that are under “general acquisition” or “global acquisition” can later be confirmed ‘free’ or ‘committed’ as the case may be.

A land under general acquisition can become free by a process called excision.

“Excision is a process whereby the government releases a portion of an expanse of land that is not committed” If a parcel of land that was formerly under acquisition becomes excised; it is then considered free and becomes gazetted.

The gazette then becomes the title on the land and such land is safe to buy because a proper title can be processed on the land.

A second case where lands under general acquisition can be released is if an individual purchased a land that was under acquisition without going through an excision process.

Such lands can go through another process called “ratification” or “regularization” in which the land owner pays for the land to be ratified or regularized. The only conditions in this case are that the land in question must not fall within a committed area and that the purpose for which the land was bought does not disrupt the original plan of the state.

Conditions for ratification may differ from state to state.

Now that you understand the classification of land, lets now look at meaning of each land documents that we have.

to be continued...

bryt85:
Fill me in

Chat me up on whatsapp.

Good day.
First of all, this is not a job post. So, if you're for the 8-5 job, kindly excuse the thread.
This thread is for those passionate about real estate, specifically real estate marketing, and are residents of Lagos only.
Almost every day in Lagos, a property is either sold or purchased, especially during weekends. We have people who purchase properties such as lands for commercial (Agriculture, car wash, etc) or residential purposes. Some purchase houses/estates also for commercial (office use, etc) and residential purposes. Guess what?

Nowadays, most people who already own properties just prefer real estate investment. This is when you buy a land or house now and resell the land within 6 months upward with 1-500% (or more) return on investment. Why? Because Lagos is constantly developing. Industries keep coming, and people keep migrating to Lagos. In fact transportation in Lagos is one of the major issues the Lagos State Government of every administration usually have to tackle.

Since we cannot trust ponzis, and other businesses that can move away anytime, most investors who know that lands and houses are here to stay just buy now and sell later. And those who are yet to have one, buy for acquisition purposes.

Now, as big as this sector is, there are only few real estate companies in Lagos. And even at that, there are no special or professional bodies that trains on real estate marketing like some businesses use to have (e.g a digital company would be prone to hire a certified digital marketer). So, these companies then make it an open fields for anyone who just knows how to read, write, explain, has integrity and passion, to come in as a marketer. Not an office marketer! You earn based on your efforts.

Some give between 3-17% commission (according to my knowledge). Now, imagine you selling a 50 million Naira property to maybe a company that needs a land for warehouse. You can earn between 1.5million to 8.5million. Now imagine two of such sales in a month. And sometimes sales can extend to 2billion Naira.
Now someone would have to work for 10 years to earn the figures above even though he has a Masters Degree. No offence. Let everyone abide by his/her calling.

To join these companies are free. And I'm willing to coach people (in Lagos only) how to get this done (for free) as time permits me . I have to pursue my own leads too, lol.

You can contact me via my signature.

Note:
You must be in Lagos
You must have whatsapp and facebook (internet connection).
You must be good at relating with people, because most clients would prefare you taking them to the location of the properties.
You must have faith in God, and you must believe in yourself.

God bless.

Hello Nairalanders.
I have opened this thread for daily or regular updates of genuine properties available for Sale. But before them, I would be educating us on different types of properties. Their meaning, advantages, disadvantages, etc. The meaning and uses of different Titles, documents, etc.
There'll be videos, images and direct information about available properties owned by reputable companies.
At any time, you can come for inspection, consultation and legal confirmations.

Just to ensure we are on the same page, properties here refer to only houses and lands.

To set the ball rolling, two of the conventional ways of identifying genuine properties for sale os always by documents and on site inspection.
But there are many other ways too.

Let's get started.

kayola11:
contact me on WhatsApp for pictures

Done.

I'm referring to buses. Not just any Hilux please.