We discussed the importance of having a mentor as a real estate investor in our last blog publication. Today, South and Sttes Properties Limited offers the fourth of the six tips on how to make real fortune in Nigerian real estate industry. We are happy to have you among our readers:
- Learn, then earn.
Before “throwing” money into any investment, educate yourself! Don’t spend millions of naira on training workshops and seminars. No matter how shiny they make it or how much you are told that you need an expensive education, you don’t. Information is inexpensive and available in abundance. Find it or look for a reliable company that specializes in Nigerian real estate investment like South and Sttes Properties Limited who can teach you all you need to know before investing in real estate.
Educate yourself and create value. The first step is to determine which property or properties which when bought can create wealth with ease. We all know for example that shelter is a basic need. A good residential property in and around major metro areas, is usually a good investment, and demand for it is constantly increasing. By owning a residential property which is placed on rent in such location, you have a small business that works for you.
It is important to know that you need to plan your budget well. Most projects have surprises or overruns; it’s just part of the business. Keep a cushion amount of money for the unexpected. It is also good to start with one property project. To invest successfully in real estate, you must learn first. Learn! And when you’re ready, door knock! And talk to us at South and Sttes Properties Limited.