One of the smartest ways to invest your money is to own landed property. Not only can it save you money, but it can also yield steady residual income for you, and you can pass it to your offspring.
Do you dream of owning your own property?
If YES, know that the journey to succeeding has to start with LEARNING. Even if you have all the money you need, you will be wise to first of all learn as much as you can about real estate investment.
That’s because the money involved will often be a lot, and the potential risks considerable. It therefore pays to arm yourself with as much information and education as may be possible, before you begin to make any serious efforts to invest in owning your own property.
Here are a few examples of what you need to learn…
- Learn about properties types available, and the markets they are located.
- Learn about developers offering the properties – their history etc.
- Learn about possible terms of payment and acquisition.
- Learn about the legal requirements – especially as relates to those specified by government.
Where can you go to learn all these?
1. Consult a real estate professional/agency
Those registered with the NIESV (Nigerian Institute of Estate Surveyors and Valuers), or who are linked to partners with such affiliation are your safest bet. You want to be sure you are getting the most accurate, reliable and up to date information!
2. Attend a learning event:
Find out where you can attend seminars or workshops on real estate investment. Just make sure the facilitators are competent and honest – so you don’t get used by quacks!
3. Purchase learning products:
Find out where you can purchase books, video/audio and other products on real estate investment. Not many such products exist that are authored by Nigerian experts, for the Nigerian market, but some are. Seek out persons with sound knowledge of the industry for recommendations.
4. Subscribe to an online resource:
Search online, preferably with reference to the Nigerian market, for places you can learn. Again, look out for guidance on making up your mind, from established players in the market – both real estate practitioners as well as long time property owners/developers.
5. Find a mentor:
Do you know someone that is a successful – and honest/reliable – professional in the real estate business? If yes, reach out to him/her for help or guidance, to achieve your goal of self-education. If possible, look out for, and connect with property owners with sound knowledge of the industry.
Ask questions. Be willing to wait as long as they tell you. Get as much as possible from them, to empower yourself. Go out and check the accuracy of what they tell you. You will be better off in the long run.