How do I make money with real estate? how do I invest in real estate successfully? is real estate really the best investment in Nigeria?, These are some questions prospective real estate investors ask me a lot and In this article, I will be answering this questions and even reveal some ways you can earn a lot of money in real estate with little or no capital.
So stick with me because I’m about to reveal a secret that will change your life for good.
The real estate industry over the years has proven to be the best form of investment and has made many investors millionaires and some billionaires. But does that mean every real estate investor becomes millionaire or a billionaire? No. However, it is possible for every real estate investor to make a lot of money if you know what you are doing and follow the due process.
But if you don’t know what you are doing, investing in real estate can be frustrating and costly.
The beautiful thing about the real estate sector is the amount of opportunities it has and anyone can take advantage of them including you And the sweetest part is; you do not need much capital to make tons of money using this strategies.
Making money with real estate isn’t so difficult, You just need the right knowledge which I will be giving you here for free. After reading this article, you should have enough information to start making millions even billions with real estate. All you will need to do is put in the work. So…
Here is how to get rich with real estate
Contract flipping is one of the ways to get rich with real estate. It is one of the easiest way of making money in real estate And it does not require much capital to start and operate. All you need to do as a contract flipper is to find a distressed seller and a motivated buyer then bring them together. That’s all you have to do and you get your commission. Simple right?
This strategy may seem simple and straightforward but it requires a lot of hard work to operate – You have to spend a lot of time to locate a distressed seller and also to hunt for a motivated buyer. So you see a lot of work and effort is required.
In contracting flipping, Networking is key. Because if you are well known and trusted, half of your job is done. Distressed sellers will always come to you to help them get buyers for their properties and that means you are left with only one task – which is to hunt for motivated buyers.
The disadvantage of this type of real estate investment strategy is that your income is not passive. You must work to earn because your earning is commission base.
Buy and Hold
Another method of getting rich with real estate is Buy and hold.
Buy and hold is one of the most common real estate investment strategy and is popular among income property investors not only because it allows them to build a steady stream of passive income, but also because it gives them the opportunity to gain long-term appreciation!
Most real estate investors prefer this type of investment because it enable them make money even while they sleep and your property appreciates with time. This method of getting rich with real estate requires a lot of capital( at least more than contract flipping) because in this case, instead of connecting distressed sellers and motivated buyers together, you are the one buying the property.
The buy and hold investment strategy works as follows: the real estate investor buys an investment property, rents it out to a long-term tenant, and makes money from collecting monthly rent.
Buy and hold is not limited to buildings alone. It is also applicable to empty land as well. In this case the real estate investor acquires a land, then rent it out. This person can build temporary structure on the land(kpako) and be maintaining the land for the owner. With time, this landed property will increase in value and the owner may decide to sell it.
This is a very common practice in Lagos state, Nigeria.
Another way of getting rich with real estate is…
Fix and Flip
Fix and flip is a real estate investment strategy where a real estate investor buys investment properties below market value (because they’re in a bad condition and need plenty of repairing), and the investor then works on improving this investment property and sells it for a higher price than the initial investment, thus making a quick profit!
This is almost similar to contract flipping. But in this case You buy the property for yourself, repair all the damages then hunt for a buyer.
The real estate industry has made many investors wealthy in the past and it still making investors wealthy now and will continue to do so. To get rich with real estate, you need to own a property the right way and in a good location.
To own a land with peace of mind in Lagos state, contact @Bethel realtors & management limited via phone 09024554979 or visit our office at Suite 201 & 202 Akord shopping mall bogije, Ibeju Lekki LGA, Lagos state.