Real estate is undoubtedly a profitable and lucrative investment. Before we delve into ways to invest in real estate, we need to understand what real estate really is.
Real estate is simply an acquired property in form of land and building. It goes hand in hand with real property. Real property means structures attached to the land or building. For instance when a person acquires a land if the land has a garage or a swimming pool such things depicts real property.
When a property is purchased or acquired, real estate developers could either lease for income it or modify it and put it for sale for income also.
This investment is a business of owning property and using it to make income. Therefore, it is up to the real estate developer to strategize on how he wants to run his business.
There are also forms of real estate which includes;
Real estate for residence:
This is a form of real estate where people can reside. It is primarily for people to live in. This is where you rent an apartment, a building or town houses for people to be domiciled in.
Real estate for commercial purposes:
This form of real estate provide property for business or commercial services. These property include a shopping mall, gym center, a restaurant or a relaxation center and an office. A property could be rented or sold out to provide business enterprises.
Land:
Land is one of the factors of production in economics and it is a very important requirement for real estate. A land which have no structure or building on it can be sold out or rented. For instance if a person wants to start a fishery business he may want to rent a land to construct what he would need for his fishery business. Subsequently, Primehill gives you an opportunity to own a landed property in your name through their affordable and comfortable payment plans.
Real estate for industrial purposes:
This form of real estate provides property for industrial structures and activities such as factories, industries, warehouses and distribution center.
To become a real estate investor, you must have a real estate management scheme. So that on the long run you won’t always have to be on a loss.
10 ways to invest in real estate
Check out real estate companies, developers and businesses and learn from them:
Before you delve into a particular thing make researches about it and people involved or experienced in such a thing. Search for successful real estate companies that you can learn from to start up yours. For instance, Primehill limited in Uyo, Akwaibom State is a good real estate company that buys, sells, develop and manage landed property therefore, you can learn from them and start up yours.
Select an appropriate real estate investment strategy:
To become a successful real estate investor, you need to pick a good real estate strategy or scheme for your business. This means that you can make your real estate a rental i.e to rent a property either monthly or annually, or you could buy a property modify it and sell it at a higher price than you purchased it, or you could buy a land and erect buildings on them for sell.
Find a good location:
In every business, location matter. Find an appropriate location either in the city or along the road and important areas. Be careful to choose a good location for your involvement because your location also depends on how profitable your investment will be. In Uyo, Akwaibom State City Crest Estate is located at Airport road, also Le Meridian in Uruan, Akwaibom State and 1, Mbiokporo, in ibesikpo, Akwaibom State. All these places are important areas and location for investment.
Study the market trend:
As a real estate investor, having a good understanding of the market trend is imperative and important. The way the real estate business was about 2 or 3 years ago may not be how it is presently. Therefore you need to follow how the real estate market works currently. Just like the Primehill limited have various estates (City Crest Estate) in Akwaibom State, Nigeria. They studied the environment and area of their investment and gave affordable prices that will fit the pockets of people in such area. This is what is known as understanding and studying the market trend.
Utilize Urban Environment:
City crest estate is located at Airport road in Uyo. Such area is a good location for a real estate investment. These are areas that are eye openers. People are populated in the area and demand for landed property whether for rental or sale will be high.
Check out Real estate Investment rules and regulation:
rules bind the behavior of people. Therefore follow certain principles that guides real estate investment. For instance do not make a single room apartment too unventilated because you are trying to manage your expenditure
Real estate investment group (REIGs):
REIGs is an organization with numerous partners that invests in and operates one or more apartment or condo buildings. In order to join a group, you have to buy an apartment or condo from the firm. Which then employs a property manager to take care of repairs, screen potential tenants, and fill vacant spaces.
Increase the worth of your real estate:
Try this to make your real estate valuable for attraction and attention. For instance you can rent a space for a bank to install their ATM. You could even build a security post to make the building or property very appealing. You can even charge a higher rent for an appealing property or building.
Commercial purposes:
You can rent or sell a property for commercial activities. Such as a warehouse, restaurant, shopping mall, event centers, or a gym center. Real estate Investors lease property or buildings for people who have commercial need for them and maximize profit.
Partnership:
This is the number 10 way to invest in real estate on our list. A saying goes that no man is an island. Subsequently, do not refuse assistance. Real estate investors could partner with realtors or real estate developers for smooth running of their real estate investment.
10 Ways to invest in Real Estate