In our today’s publication, we will continue with our professional advice to potential investors in real estate. South and Sttes Properties Limited would be looking into the third of six tips on how to make real fortune out of Nigerian real estate business. Mentoring is what we are looking at today:
- To understand the economics of real estate, you need a mentor.
The real estate deals that look the prettiest and are easiest to find include buying a property that has tenants and existing management structures in place, or buying into a publicly-traded real estate investment trust. The problem with such deals is that they yield the lowest returns. The most profitable real estate opportunities are the ones no one else knows about, which you find and create.
If there are relevant and reliable documents on a property that is located in a good place, a lot of real estate investors will be interested. The low amount of such properties creates bidding wars among potential buyers, which may increase the prices that the property owner sells his/her property. So, if you can find such a property before competitions begin to build on it, you can a fortune out of such deals in a relatively short period. It is not uncommon to obtain more than a 20 percent return on such properties.
Unfortunately, real estate is full of pitfalls. And what you see as a good deal may be a very bad deal. This is why you need South and Sttes Properties Limited, a professional real estate company that mentors, educates, helps, and provides professional guide for you in be a real estate investor.