There’s no better time to invest in real estate than now as the opportunities continue to grow endless and limitless. You may wonder how can I invest in real estate? What do I need to know about real estate? When is the right time to invest? How much do I need to invest in real estate? Below are the answers to your questions and the unending opportunities available for you to explore in Abuja real estate.
There are various ways you can invest in real estate in Abuja.
1. PURCHASE AND SELL AN UNDERVALUED PROPERTY:
The real estate market is very interesting. It is filled with individuals trying to dispose off their properties and other individuals trying to acquire the said property. People buy and sell for various reasons unique to them. You know the popular saying “buy low, sell high”? It is always true. Ray Brown said “the best time to buy real estate is 5 years ago”. Look for a property that is undervalued, purchase it and sell when the value has appreciated.
2. PURCHASE A PROPERTY RENOVATE IT AND PUT IT UP FOR SALE:
This is very simple. I know individuals who practice this real estate investment principle for a living. I mean they don’t do anything else! The person looks for a property that is in a good location but dilapidated. He purchases it, renovates it and puts it up for sale. In certain instances he may decide to remodel the property before putting it back in the market for sale. He makes good profit from doing this. This is capital intensive, but it is a very good real estate business.
3. COOPERATIVE INVESTMENT IN REAL ESTATE:
This is a situation in which a group of investors come together to invest in real estate. A group of individual or organizations could purchase a property and then sell it to make profit from it. The idea is that funds could be pulled together for investment in real estate. The profits would be shared in accordance to the contribution or as agreed by the members prior to the investment.
4. THE LEASE/LET OPTION:
In this form of investment, the idea is that an individual could lease/let a property for as long as 5 to 10 years and then pays a lump sum for which the lessee then sublets the property and makes his profit at the prevailing current rent obtainable from such property.
5. BUYING AND HOLDING REAL ESTATE:
This option is also a very common real estate investment practice where an individual builds or buys a property and then gives it out for rent. This is really a good investment but at the same time you would have to deal with repairs, liabilities, taxes, tenants etc. A simple way out is to give your property to a registered Estate Surveyor who can effectively manage your property and obtain current rent and keep the property in a good state of repairs. This has proved to be a good source of investment.
6. FARM LANDS AND UNDERDEVELOPED AREAS:
You could purchase farmlands and give it out for rent. What is bad in farming in it anyway? So also you could purchase undeveloped areas and keep for the same purpose.
7. INVEST IN COMMERCIAL PROPERTIES:
If you purchase a commercial property, you can do all that has been mentioned so far but one notable advantage is that it has little or no repairs to be carried out on it. For example, if you decide to buy a shop, and the shop you bought is in a good location, you will get a great value for it if you have to sell it
8. GO INTO REAL ESTATE DEVELOPMENT IF YOU HAVE THE FINANCES:
You don’t have to have 2 billion naira to do this. If all you can build is just a duplex or a bungalow in a good location, you can sell it and make your profit and repeat the same. After a while you would probably be able to build two properties at once, then five, then ten etc. I know an individual who built a house and someone offered him about thrice the amount for it… that was how he got into real estate development and today has a massive estate in Abuja. If you don’t have all the finances, call a couple of investors and professionals and start nurturing the idea. Think big but start small… Think future but start now…no matter how small.
Good read? Kindly call ….. if you have questions or objections. Have a memorable week. Cheers!