HOW TO INVEST IN REAL ESTATE WHEN YOU ALREADY HAVE THE MONEY

 

Even when you have all the money, you still need the necessary knowledge so as not to be wrong. You will never have all the complete knowledge of anything and you will never have the guarantee of not being wrong. These are the steps you should take when you are not very expert in the field even when you have the money.

 

#1. Register in the main real estate platforms

In most cases, with an e-mail, password and little requested information you can get started.

#2. Make a selection of properties of your choice

This is important. Each person will search for a specific type of property based on a series of parameters:

§  The money you have i.e. your initial budget.

§  The neighbourhoods of the city you want to focus on.

§  The type of investment you want to make (rental, subsequent sale..)

§  Your personal tastes, although they should NOT influence much (if you are more of a flat or house, country or city).

 

Then, depending on your personal situation, set your filters in the alerts and start receiving ads for the properties that meet your needs.

#3. Call attached phone numbers for your property of interest

The call is to expand data and confirm that those published properties are correct. It is preferable to call by phone than to write. Emails sometimes become an endless series of comments, questions, answers etc at the end of which the apartment will have already been sold if it is a good opportunity.

#4. Make arrangements to visit the property

After you have seen the property of your choice and have called the displayed phone number, you need to arrange a suitable time to visit the property and inspect to see if truly it meets up with what you really want.

#5. Counteroffer

From the list of chosen, start with the first and, if necessary, continue with the following, making counter-offers to the downside.

The owner who accepts it or comes closest, respecting the order of priority, is the one chosen to...Sell you his home!

Mission accomplished: you already have a property purchased

#6. Land banking

This is a good investment opportunity for the rich. For instance, N10,000,000 gives you N19,600,000 in 2 years if you adopt a simple reinvestment plan.

Reference: Investopedia, Business insider, Entrepreneur

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