If there is any business in Nigeria that is truly lucrative to the highest profitability, it has to be Real Estate investments. Most of the top billionaire in Nigeria are real estate investors. It is a money spinner of the highest order. Real Estate is currently booming in Nigeria and people are making millions in it. I want us to take a closer look at the business and see how anyone may invest in this sector of the economy irrespective of how much you have.
One thing extremely good about real estate business is that the investment opportunities are so diverse that there seem to be something for everyone. Anyone who wish to invest can invest whether he has thousands or billions of naira, you can even invest without a dime in your pocket. So, let's see how it works.
I am going to highlight some of the best investment opportunities in the industry. But before that, let's look at the profit. I bought a plot of land in Ikorodu area of Lagos State in 2011 where I've wanted to develop something special, I paid ₦500,000 for it.
This year, I changed my mind and decided to sell it, when I asked the estate agents how much the property is going for in that area now, they told me the current price is two million naira and that my own which is very close to the main road will go for between 2.5 to 3 million naira. i was amazed If I had bought like five plots then, I will be making ₦10,000,000 by now!
Just like that, 2 million to 2.5 million gain in less than two years for a green horn like me who is not in anyway into real estate investment. Then imagine what the pros who knows the in and outs in the business will be making. I know a petty medicine seller who is now a multi millionaire through estate investment he started almost with no money, few years ago.
I also know how some of the millionaires in the industry started. Some of them started as small real estate agents in a kiosk, but today, they control some of the finest estates in Lagos, Abuja and other major cities in Nigeria.