One of the smartest ways to invest your money is to own property. Not only can it save you money, but it can also generate a constant residual income for you, which you can pass on to your offspring.
Do you dream of having your own property?
If yes, know that the path to success must begin with LEARNING. Even if you have all the money you need, you’ll be wise to learn all you can about real estate investing in the first place.
Because?
That’s because the money involved will often be large and the potential risks considerable. Therefore, it pays to arm yourself with as much information and education as possible, before you begin to make serious efforts to invest in owning your property.
Here are some examples of what you need to learn…
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Learn about the types of properties available and the markets they are in.
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Get information about the developers offering the properties: their history, etc.
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Know the possible payment and acquisition conditions.
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Find out about legal requirements, especially those specified by the government.
Where can you go to learn all this?
1. Consult a professional/real estate agency
Those registered with the NIESV (Nigerian Institute of Estate Surveyors and Valuers), or linked to partners with such affiliation, are your safest bet. You want to be sure that you are receiving the most accurate, reliable, and up-to-date information!
2. Wait for a learning event:
Find out where you can attend real estate investing seminars or workshops. Just make sure the facilitators are competent and honest, so you don’t get used to chatterboxes!
3. Buy learning products:
Find out where you can buy books, videos/audios and other products on real estate investing. There are not many such products created by Nigerian experts for the Nigerian market, but some are. Look for people with strong industry knowledge for recommendations.
4. Subscribe to an online resource:
Look online, preferably with reference to the Nigerian market, for places where you can learn. Again, seek guidance in making your decision from established players in the market, both real estate professionals and long-time property owners/developers.
5. Find a mentor:
Do you know someone who is a successful, honest and trustworthy professional in the real estate business? If yes, please contact him/her for help or guidance, to achieve your self-education goal. If possible, find and connect with owners with a solid understanding of the industry.
Ask questions. Be willing to wait as long as you are told. Get as much out of them as possible, to empower yourself. Go out and check the veracity of what they tell you. You’ll be better off in the long run.