But despite it all, the real estate sector in Lagos has stood the test of time solidly. Of course, we have testimonials of people who invest and get big profits from this sector.
Lagos is currently the most populous city in Africa and alone has the fifth largest economy in Africa.
Real estate in Lagos can only generate double the ROI if you are ready to play the long-term investment game and know how it works and what to do.
There are enough opportunities in Lagos for anyone who wants to make money in real estate in Lagos.
someone like lawyer delivery We were lucky enough to work for a billionaire a few years ago.
Instead of carelessly spending all the money and cheating, he diverted it to investing in land in Lagos.
He was part of the first group of people who saw more potential in Ibeju-Lekki and bought as many acres as possible many years ago.
Do you know how valuable land ownership is in Ibeju-Lekki? Now imagine someone who bought land on the site years ago!
You may be confused about how to make money from real estate in Lagos but that will be discussed in this article.
Ibeju-Lekki is one of the more remote areas being developed in Lagos Island and has been for some time now which indicates there is no stopping soon. These features are currently in progress:
- 4 mainland bridge planned to connect this area
- an airport
- golf lesson
- Dangote refinery
Further development is planned.
All this should be reason enough to acquire land in this area because it is a great investment because the prices are still minimal.
What should a good investor do?
- A good investor can analyze upcoming areas and buy land in bulk just like Barrister Teslim.
- After purchase, wait for a few years when the value has risen due to development in the area.
- Finally, resell it to real estate developers or homeowners.
A good land turnover can yield more than 500% return on investment within a few years if properly planned and executed.
2. You can focus on off-site property development
Developers and investors are making huge profits from this aspect of real estate in Lagos currently.
How does this happen? What steps should be taken?
- The developers discovered a large area of land.
- He plans how to increase value by building a gated property or block of apartments for direct sale to homeowners.
- Once the plan is good, the investor makes the initial investment for the purchase and prepares the land for construction.
- Then the marketing team for the real estate company or developer turns to work. One way to make it easy to operate is to allow payment by installment plan from the end homeowners.
All this is done even when the property is under development. Ultimately the investor and developer (a real estate company) makes a huge profit that they can use to repeat the cycle a second time and so on.
3. Real estate investment management
Aside from the old saying “money is made through money”, isn’t this evident from our daily activities? Usually, real estate deals with high profit returns which require huge investments for anyone.
Is there hope for the average investor? The ordinary investor can join, create or manage a real estate investment management fund.
4. Becoming a long-term rental investment owner
Shelter is important, so people will either need a place to stay or to do business (shops, offices). So, what did you come up with that fits people’s demands?
Buy or build rental housing. This can be in blocks of apartments or even communal (office) spaces a good way to start.
However, this can be more convenient if you are in the right location. When it comes to real estate, location is the most important.
This is a surefire way to make profits for as long as possible.
5. Flipping home renovation
People haven’t noticed this yet. However, you can get a double return on investment if done right. You can buy or rent an old house in a very prime location, renovate and renovate it.
Then put it up for sale or rent. For example, you can rent or buy a 5-bedroom duplex apartment, re-fit into separate rooms, studio apartments, or studio apartments, and then lease back and recoup your initial investment with some profit to set aside.
This is done deliberately for faltering sales. Many people sell their properties as bad sales. It is important to find these people early, buy the property, add value to it, or just put it up at a higher selling price and wait for the buyer who will buy it from you with a more profitable deal.
7. Shortlisting and vacation rentals
Shortlisted business in Lagos is thriving silently. The easy thing about getting a short rental apartment is that you can start with a low cash investment. For example, you can double the profit if you invest 8 million naira at the end of the year.
Although this business is not easy nor is it for the faint hearted as it is not easy to manage as it requires some experience and access to pivotal information. However, if you are on the right track, your investment is sure to come back to you with great benefits.