HOW TO BE A GOOD PROPERTY INVESTOR
The real estate market in Nigeria has been flourishing significantly causing an increasingly competitive market for property investors. I have written articles on this platform about land/ property investment. it has however come to my notice that so many people go into property investment without knowing its pros and cons, which makes it frustrating and discouraging.
To be a good property investor, please pay attention to the following points.
PROPERTY LOCATION:
The phrase “location” is very common amongst property investors. What does this really mean…. Property location is not just the geographical area of the property. In practical sense it means the availability of basic human features which are key factors that impact life and lifestyle in the area where the property is located. These basic amenities can translate from a good road network to proximity to schools, shopping and recreational centers. Every land/property investor should consider adapting the practical meaning of “location” in property investments. This will no doubt increase its value.
PROPERTY MARKET VALUE:
Property location is one thing, understanding the factors that affect land value is another. For every property investor to get a significant return on his investment, such investor should be able to find out the market value of a property. There are certain factors that can affect market value either in a positive or negative way. Example of a positive factor: properties around Ibeju-Lekki has more market value than properties along Mowe, the reason is not farfetched.
There are motivating factors that has increased the market value of property around Ibeju-Lekki area. In order to protect your investment as a property investor, you should be aware of and be able to determine the market value.
GOOD MARKETING STRATEGY:
Even with the right property location and market value, your quest to becoming a successful property investor is not complete without a good marketing structure. Every business that desire growth in the world requires a good marketing system either traditionally or digitally. However, because of the age and era we find ourselves, digital marketing has proven to be more efficient than traditional marketing. Read more
Add factors that further contributes to the property value:
Other than these listed above, additional factors could be added to increase property value. For example no one would want to buy a property that has a defective title document, no one would want to buy a property that is a subject of litigation in court. The higher the authenticity of the title document of a land, the higher it’s value. Every buyer desire security on whatever they purchase, as a property investor, being able to provide a high level of security will no doubt increase your client and prospects confidence in you, in the process allowing the investor to enjoy significant returns on his investment.
THINK AHEAD:
A successful investor is a person who thinks ahead. Understanding the factors when determining your property value will help you get the most value out of such property. Value is created by the interaction of supply and demand and by determining the market principles. When this is done, you can determine what value any property will have at a time, you can determine how to spot a good investment opportunity, when to buy a land, when to sell and when to develop. The simple principle to determining all these mentioned above is by thinking ahead.
See Also Best Places For Investing in Real Estate
Competency Development: The first rule of going into any venture is arming oneself with knowledge in that field. Real Estate Knowledge can be obtained from several sources; Textbook, trainings, seminars and websites, www.ibejulekkilawyer.com offers such information.
For further assistance or consultation on this article or other issues, feel free to contact me. Email ibejulekkilawyer@gmail.com or Call 08034869295.
