How To Make Money in Real Estatechioma
Before understanding how to invest in real estate, it is important to know that real estate is the fastest growing industry which has come to stay.
According to a renowned estate surveyor and valuer, Femi Oyedele, who was a guest at the Housing Development Advocacy Network (HDAN) Real Estate Outlook for the year via virtual meeting in Abuja, the sector will witness a growth rate of 2.9 per cent in 2022.
When you want to invest in real estate, you need to;
Understanding the industry: Real estate is a non-perishable good. It never depreciates and if you are able to find a suitable location with a good return on investment, that’s a very excellent start.
Research and get valuable Information: In the real estate business, you can buy and sell properties, buy and invest, or engage in the management of real estate properties. It is important to get information on upcoming trends that will impact the real estate business.
Ensure to conduct a land verification and inspection of the property you are willing to buy: In the real estate business, you need to verify and inspect the property you are willing to buy. At this stage, you are able to do your research and see the potential of the location in terms of industrialization and also possible plans of the government in the future. Before you cash in on the investment, you must have all of your facts straight and be well-versed in the nitty-gritty.This is why documentation is very important during this stage. The property has to have the right documents and the location has to be right as well.
Confirm the land documentation of the property: As mentioned earlier, you need to get your documents right. You have to be sure it is a “C of O land title”. C of O means Certificate of Occupancy. Having a C of O ascertains you as the owner of a plot of land or property. It prevents the Government from confiscating the land or property without compensation. There are steps to applying and processing the C of O document as the land can be privately owned or state owned.
Conduct a research on the real estate company selling the land or property: Authenticity, the real estate business has always been emphasized on to avoid any fraudulent or over-promising activity. At FlapCoop, we pride ourselves in building strategic partnership with reliable individual and corporate stakeholders. Flap Multipurpose cooperative society Ltd is licensed by the Lagos state Ministry of commerce, industry and cooperatives (LSCS 17428). We are a people venture initiative to assist individuals own, invest and earn from Real Estate and agricultural and other strategic Assets initiatives.
Make sure you cross check for hidden charges: There are possibilities of hidden charges like ground rent, tax clearance, service charge, development levy and other lurking fees. It is advisable to always cross check the document you receive.
FlapCoop has over 500 happy members and investors, 328+ paid investors based on buckets, more than 7 investments earning reasonable return on their investment and 15+ major asset satisfaction that has been guaranteed, you cannot go wrong on a smart, secure and most affordable way to wealth creation.
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