Real estate investment in Nigeria is a traditional and cultural investment option that many Nigerians have continued to adopt till date. In today’s world, It is not uncommon to see real estate as part of an average Nigerian’s investment goals.
Speaking of goals, we will be walking you through various steps on how to set and achieve your real estate investment goals in Nigeria this year. We can guarantee that if you follow these simple steps, you will be right on your path to building a strong investment portfolio and generating wealth actively and passively.
The first step to setting any kind of goal is to write it down. Get started by writing down your investment goal. How many properties do you want to have on your portfolio by December? What kind of property do you want to own? Put it all down on paper.
Writing a goal down on paper has been proved to be an effective step to achieving any goal by many successful people around the world. It triggers your subconscious mind and helps you find clarity on how to achieve the goal.
The second step is to identify your why. Why are you investing? We can all agree that we invest to make money, but how do you intend to monetize your property?
There are different ways to enjoy returns on real estate investments and this mostly depends on the kind of property you buy. As an investor, you could buy a one-bedroom apartment and list it as a short let serviced home or you could buy a 4 bedroom fully detached home and put it up for yearly rent.
So you need to ask yourself these questions, If it’s a house, do I intend to make money by renting out or by selling it when the value goes up? Or, If it is land, do I intend to lease it out, or keep it to sell later?
While these decisions are not set-in-stone, having an idea of what you will do with your property can help you avoid pitfalls.
The third step to setting and achieving your investment goal in Nigeria is to identify what it will take for you to actualize it. We all can agree that the primary requirement for any investment is money. So, you will need to prepare a budget.
Estimate your earnings for the year, and be on the lookout for mortgage plans that are available to you.
Once you have a budget, you are ready for the next step. Yes, you can start shopping for real estate deals. Shopping for properties can be very tricky especially when it is for the purpose of investments. The rules that apply to how you shop for a property for personal use is not the same as what applies to shopping for investment properties.
In the case of investments, you will need to do your due diligence. i.e. choosing the right location, evaluating the market, selecting the right property, etc. Read this blog post on 5 Factors To Consider Before Buying A House In Nigeria for more insights.
The final step to achieve your real estate investment goals in Nigeria is to INVEST WITH DRADROCK. We are all about your needs and desires, which is why we have a wide range of properties and investment options for you to choose from.
Our expert teams are also available 24/7 to answer your questions and guide you in making the right decisions. Our goal is to give you greater value for your money and leave a feeling of satisfaction and fulfilment in your heart.
You can check out our properties and find the one that best suits your taste here. You can also explore our investment options if you want to do more than just buy a property.
If you need help getting started, call us today on 08025476152 or send an email to marketing@dradrockng.com, our representatives will be available to attend to your needs.
Till our next newsletter, stay frosty, and keep winning in your space. Always remember to comply with COVID 19 health precautions and stay safe. We care about you.