TOP 5 WAYS TO BUILD WEALTH FROM REAL ESTATE
Real estate is the buying and selling landed Properties for a higher yield. It could be property consisting of land, buildings, and natural resources such as minerals or water.
Oftentimes when we talk about real estate investments, we overall assume it is buying a land or property and holding it for a few years to achieve higher appreciation. Well yes, that’s the general idea but it’s broader than that. Real Estate is an imperishable asset, ever increasing in value. It is hereby the most solid security that human intelligence has ever conceived. It can’t be stolen, lost or taken away.
Another misconception is that a big budget is critical to succeeding in real estate investments. Nonetheless, in reality, having a ton of money is not always a prerequisite for real estate investment.
Real Estate investment implies the purchase of properties, management of purchased properties, sales or rental of real estate profit. With real estate, you can practically improve or revamp properties to make more money from them. Investment in real estate even on a very small scale remains a tried and true means of building an individual’s cash flow.
Keep in mind, real estate is an investment that’s been around for years, but it has become more popular now than ever.
why? Because of the stability and flexibility it offers to investors, it’s also the business of the century. Therefore it’s important to note that 90% of the world’s millionaires become so through real estate.
It presents an avenue to make money, and there are lots of ways you can create wealth using real estate as a medium.
The first thing you have to do is decide what kind of real estate you want to buy. Do you want to buy a house? Do you want to buy an apartment building? Or maybe you want to buy land? Whatever it is, make sure it’s something that can be resold at a profit later on down the road.
Here Are The Types Of Real Estate You Can Invest In:
Now, before investing in real estate, you need to decide which type would be convenient for you. Here are the types of real estate.
1. Residential real estate: This is buying and selling properties for residential purposes. This includes houses, apartments, and estates.
2. Commercial real estate: This is making money from generating a profit, either from capital gains or rental income. E.g. shops and malls.
3. Industrial real estate: Industrial Real Estate can be broadly defined as all land and buildings which accommodate industrial activities including production, manufacturing, assembly, warehousing, research, storage, and distribution. Here you can lease a property to a bank or a company for a given time frame.
4. Investing in Lands: This is buying large plots of land at a lower cost and reselling for a higher rate. You could allow it to appreciate before reselling or reselling right away or building for residential purposes.
Real estate is a fantastic investment because the value tends to increase over time. In light of this, you wouldn’t have to be shaken by the economic decline, currency devaluation nor inflation for the reason that you’ll be making money for years down the road! It is prime to know that the real estate market is on fire, and it’s not just because of the recent economic downturn. The housing market has been steadily recovering since the 2008 financial crisis, and now it’s at an all-time high. What does this convey to you? It means you have a golden opportunity to get in on the action.
This is the best time to buy real estate because people want to sell so solve a few financial issues. They’ll be willing to sell low. Call to mind that real estate is about buying low and selling High. The good thing about real estate is that it’s not affected by inflation. While the economy crashes, your property value soars higher, isn’t this the best kind of investment? Now you would agree with me that this is the best investment there is.
The best investment on Earth is earth. Don’t wait for development before you buy real estate, buy real estate and wait and you won’t regret it for a second.
You know, there is a distinct joy in owning a piece of land. This joy is contrasting from owning money, books, pictures, or anything else which men have dreamed up. Personal property brings you into society with men. But land is part of God’s estate in the globe; and when a parcel of land is deeded to you, and you walk over it, and call it your own, it seems as if you had come into partnership with the original proprietor of the earth.
It is bewildering to know that owning a home or land is a keystone of wealth. Both financial affluence and emotional security. The ownership of a home or land, and the feelings of independence that come with the possession of a bit of the earth are among the most powerful incentives for real estate investment.
Invest in a Trusted Property
Interestingly, buying real estate is not only the best way, it is the quickest, safest and the only way to get wealthy. Private property was the source of freedom. It is still its main bulwark. Now I always tell people, If you don’t own a parcel of Land, buy one. If you own one parcel, buy another one. If you own two parcels, buy a third. And lend your relatives the money to buy as well.
Investing in stocks and bonds is a good way to save up your money but it can’t be compared to real estate. In real estate your money grows with time, not the same with other forms of savings or investment. With that being established, buying a home or a piece of land is the best investment anybody can and should make. There is no such savings bank anywhere. In the aforementioned investments, your money remains the same but losses value with the economic downfall. Think Smart, think Future.
Want To Create Wealth Through Real Estate?
1.Buy low and sell high. This is one of the most basic forms of real estate investing, it can be incredibly lucrative if you know what you’re doing! When you buy a property, take note of any defects that need repair or replacement, then wait until the market has gone up enough for your cost to be worth more than what you paid for it. Then use those profits to buy another investment property and repeat the process.
2.Rent out your Land or House. If you already own a house in a good neighborhood with good schools, then renting it out is a great way to make money on the side without having to invest in any additional properties or worry about maintenance cost. This is also a great way to gain and control your cash flow.
3. Invest in property management companies like Lujo Heights Homes Limited. These companies manage properties for owners who don’t have the time or energy to manage them. Real estate is an investment that’s always going to appreciate, which means even if you’re not using the money right away (like when buying a Land or a Home), it will still go up over time. You could also buy shares with a leading Real Estate Company without having to be involved.
4. Financial Security: After Covid, the only investment in Nigeria that was not affected is real estate. You know why?. Because it’s not volatile. In real estate, you don’t have to worry about losing your investment overnight unlike forex and the likes.
5. It Beats Inflation: Your property value increases in times of monetary devaluation. The more devaluation the country’s currency goes through, the higher the value of your property and I can gladly tell you that no other form of investment beats real estate in any way.
6. Appreciation: Real estate appreciates over time. A land you buy for 300,000 today can be worth 3 million in 2 years or less depending on the location. You could also decide to make some renovations to your property and the market value will soar.
Did You Know?
Nigeria has one of the lowest homeownership rates in the world.
Nigeria has a 25 per cent homeownership rate. Nigeria has a housing deficit of 22 million units. Despite its size, Nigeria’s real estate business still falls short of addressing everyone’s demands.
This is why you should invest in real estate today to address people’s demands. Real Estate is about the future and you too can help people provide the comfortability they want and you tend to become wealthy for solving their problems. Buying land can be considered scary by some.
However, for the well guided, investing in lands in the right location at the right time has been a source of major wealth.
Importance of Location
The importance of Location to your success in real estate cannot be overemphasized. Location is everything in real estate. You could get a great property in a Bad location and it wouldn’t sell but you could get a terrible property at an amazing location and it will sell for an even higher price.
It’s advisable to place your savings in realty near a growing city like Port Harcourt Airport where we have Rhema’s Court now. There’s this feeling of independence that comes with the possession of a bit of the earth. These are among the most powerful feelings in the world. Let me end with this
The best investment on Earth is Earth. Don’t wait for development before you buy land, buy land and wait for development. “Landlords grow rich in their sleep without working, risking or economising.” –John Stuart Mill.
Conclusion
Have you ever wondered about “What makes your landlord your landlord?
I mean, how come you’re smarter yet he collects your rent every year; and if you are being honest, you pay him almost 50 per cent of your annual income.
Well, let me let you in on a little secret. Your landlord saw an opportunity to buy land several years ago and took it. He may not be as educated as you are but he sure knows that real estate investment will guarantee that he is never poor again.
You have that same opportunity now to acquire your first, second or third piece of property. Are you going to take it?