Six Figure Income From Lagos Nigeria Real Estate - Free Tips To Make Passive Income From Real Estate Investing
The simple answer is . . . Yes.
However, on the internet it is often referred to as 6 figure income. So, we will stick with that terminology in this discussion.
In simple words . . . a person is considered to be earning six figure income when he or she earns as much as 1 million Naira as income.
Income Per Time - What Do You Earn?
Six And Seven Figure Income From Nigeria Real Estate
What this means is that you buy apartment buildings and then generate income from then through rent paid by the tenants occupying the building. When done right, this can quickly add up to earning one million Naira per month or 12 million Naira per annum.
For example, you can buy a block of four flats made up of four units of three bedroom flat.
Suppose the rental price per flat is 300,000 Naira per year. The four flats will generate income of 1.2 million Naira per year.
That is a far cry from 12 million Naira per year. But, you know, this is just the beginning.
By the time you buy another four apartment buildings like this one, you will generate 6 million Naira per year. That is, you're half way to your target of six figure income of one million Naira per month.
To accelerate things, you may wish to buy a commercial house like a shopping plaza that is up for sale.
Suppose you buy a shopping plaza in a busy location that has 30 shops. Suppose too that the rental price for each shop is 120,000 Naira per year. Your revenue from this shopping plaza will be 3.6 million Naira per year.
Now you're closer to your target.
The next line of action will be to either buy another shopping plaza or buy a block of 6 flats.
Suppose you decide to buy another shopping plaza that is about the size of the first . . . another 30-shop shopping plaza.
However, this time the rent per shop is 90,000 per year because of the difference in location.
Your earnings from this second shopping plaza will be 2.7 million Naira per annum.
Your total revenue from all your real estate investments will be . . .
6m (1.2*5) + 3.6m + 2.7m = 12.3m per annum
The above means that you will end up with 7 properties altogether.
However, if you have huge capital, you can consolidate your investment by buying one high value property that generates high rental value per annum.
For example, you can buy a luxury building with two wings of 5 bedroom duplex in Ikoyi Lagos Nigeria.
Suppose the rental price of this luxury building is 9 million Naira per annum per wing of duplex. Every year you will generate residue income of 18 million Naira from this one property alone.
Get the point?
You do not need to buy or build several buildings to earn good rental income annually. If you have the financial muscle, you can buy one high value property and earn six figure income just from this property.
In fact, with good financial base, you can generate as much a seven or eight figure income from one property located in Banana Island Ikoyi Lagos Nigeria.
However, if you're an average guy, go slowly . . . invest in one property after another as funds become available.
To generate six figure income, you have to do more than just invest in one property. You have to continually invest in properties if you do not have access to huge funds.
Never stop investing!
It is your investment while you're young and active that will provide the funds to cater for your retirement.
Therefore, take real estate investing seriously.
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