Real Estate Investing Strategy Lagos Nigeria - Free Property Investing Strategies That Work
Therefore are unwilling to share their 'winning' real estate investing strategy with anyone else for fear that their winning edge may be eroded.
Here's the truth.
Whatever the property investing strategies you decide to deploy in your quest to become a better real estate investor, I can assure you that sharing those strategy with others will not make you lose the potential earnings from your property investment.
Oops! What disappointment!
Investing Strategy 2: Augment Your Funds With Bank Loans
Smart Nigeria property investors understand the folly of trying to do it all by themselves. So they invite their banks to participate in easing the burden of raising the funds needed to buy a house . . . their dream home.
They take a home mortgage.
Let's take an example to illustrate this.
Suppose Mr. Bidemi earns 400,000 Naira per month and saves 80,000 Naira per month (that is, 20 percent of what he earns).
Suppose too that Mr. Bidemi wants to buy a bungalow within an estate and the bungalow sells for 8 million Naira in February 2011. And property value rise at a rate of 10 percent per annum. That means the same property will be worth 9.6 million Naira in February 2013.
If Mr. Bidemi saves 80,000 Naira per month, it would take him 10 years for him to save the 9.6 million required to buy the property. And by that time, the property will be worth 16 million Naira.
Mr. Bidemi understood the value of involving his bank in his real estate investing endeavours. So he spoke to his account manager. He was told he needed to make an equity contribution of 20 percent (1.92m) to get a mortgage loan of 9.6 million Naira.
So, he committed himself to raising the 1.92 million required by sticking to his personal saving schedule of 80,000 Naira per month.
Happily, Mr. Bidemi raised 1.92 million Naira in 2 years and was able to buy the property with the mortgage loan.
Investing Strategy 3: Invest In Low Priced Land For Sale
Another property investing strategy that works well is to invest in land for sale in low priced areas of Lagos Nigeria (or the state in Nigeria where you wish to invest).
For example, some people buy acres of land for as low as 600,000 Naira per acre (that is, 100,000 Naira per plot), fence it round, and get proper documentation with the state government.
Thereafter, they sell high when the area is developed . . . guaranteed high margins.
Investing Strategy 4: Buy Already Built Houses Instead of Land
Some people prefer to buy already built up proper instead of plots of land.
Well, it saves them the trouble of dealing with unreliable workmen during building construction and allows them to target a particular budget and stick with it.
Sometimes the price of bare land is almost equal to that of a completed house.
Many folks recognize this and decide to save themselves the hassles of building from scratch. So they buy already completed buildings and give it a face lift.
Think, Think, Think!
Think through the four investing strategies discussed above and choose the one that works for you. You can combine these strategies in any format you like . . . it's your choice.
Have particular strategies that have worked for you?
Share it in the free real estate forum.
By sharing you become a better investor. Trust me.