INTRODUCTION
Every individual that decides to go into business, either way of investment or active participation in the operational process, intends to make a profit from the venture. Real estate has proven to be one of the best and safest investments over time, provided it is done diligently with adequate attention and care paid to it.
So many people have been able to climb up the financial ladder and live financially free just by taking the right steps towards investing in real estate, and there are still so many opportunities out there in the industry, and we would be looking into some of these opportunities.
BUILDING WEALTH FOR THE FUTURE
Real estate could benefit the investor, either on a long-term or short-term basis and this is solely dependent on the choice of the investor regardless of the capital used while venturing into it.
Some of the ways you can generate wealth through real estate include the following;
Buying and selling of land.
This means of investment in real estate has over the years proved to be a very lucrative and easy way of generating wealth for future purposes. Land appreciates, and the rate of this appreciation depends on the location where it is situated. For instance, a plot of land in Lekki Phase 1 was sold for less than #200,000 in the early 2000s, but today that same plot of land will not sell for less than #150,000,000. Someone who bought 10 plots of land when it was less than #200,000 would be making over #1 billion naira in profit if they were to sell it now, and this is just for buying and keeping an empty plot of land. Buying and selling land is still the most lucrative in making wealth from real estate, but it has to be on a long-term basis.
Buying and selling of houses (residential, commercial or special use).
Just like buying and selling of lands, the acquisition and sale of houses are also another lucrative means of acquiring wealth and safeguarding it for the future. Due to the constant growth and increase in real estate value, there’s always going to be an avenue for huge profit-making in the flipping of houses, either on a short-term or long-term pattern.Referencing the price of houses in Lagos as an example, a house in Lekki in 2010 cost about #30 million, but now a house of the same feature would be sold for about #120 million and above. Buying and selling houses creates avenues for generating wealth that could be passed on to generations.
Lease of lands.
People acquire large amounts of land in different locations, especially on new sites and places with good futuristic marketing potentials and this type of investment is usually well thought out and executed.In other to protect your land from land grabbers and snatchers and to also make some money in the meantime, leasing the land is a good way of achieving it all at once. The land will be developed, utilised, protected from intruders and also used to generate passive income for you.The amount of money that will be gotten from leasing the property might not be as much as what would be realised when sold, but it would be worth more than just leaving the land idle, not being used and prone to theft or loss.
Putting up apartments and houses for rent/lease.
Another lucrative way of building wealth for the future by investing in real estate is this one here. Real estate as a lifetime investment can mean profit-making from an investment for a very long time and even passed down to generations. This model is one of the oldest means of generating passive income in real estate investment and it is still very much active. Acquiring multiple buildings and apartments and putting them up for rent/lease can yield profit for the investor/owner, who can use these profits to further invest in other ventures thereby diversifying his portfolio.
Direct investment in real estate firms.
Another way of making very good money and the right investment is through direct investment in real estate firms and companies. What this means is that real estate firms take money from investors like yourself, pull them together to develop certain properties (lands, buildings, etc.) and either put them up for sale, lease or rent. Afterwards, they share the profit amongst the investors according to the level of investment made.In this type of investment, the profit isn’t usually as huge as the other points highlighted earlier, but the ROI you get is very reasonable and substantial. Regardless, the profit can be used to further reinvest in another area of real estate.
CONCLUSION
Real estate has been an exceptionally stable lucrative business venture that has recouped high percentage returns for investors over the years. Going into this investment wouldn’t be a bad business choice, however, one needs to be very careful and make proper findings before buying any property or investing in any property.
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