Real-estate investing is well beyond just the regular business its a long term game that would definitely pay off in the long run here are 8 real estate secrets every young Nigerian should know
Well, before we get into the main point of this article on “Real Estate secrets” lets start with principles that are not really just for Real Estate. These principals work in any area of life, but I use them in my business, and to help others grow their businesses.
Most successful people work from a plan that includes something like this.
1. We need a big WHY. In business and in life we need to find out WHY. Why we are starting this business, what is really motivating us? If you don’t have a big enough WHY you may want to go back and see what really inspires you. Do what you love, and what you are good at. My WHY is freedom. Real Estate investing can give me the freedom of time to pursue other passions I may have.
2. Focus. This is a big one, and some may find it a little difficult when you are first starting out in business. There are so many areas that need your attention. So many areas of Real Estate investing may seem interesting. You start working on one area, like rental property, and then you start hearing about the money in rehabbing, and tax liens, and lease options. An experienced investor can work in many areas simultaneously, but if you are just starting out, know that some of that comes with experience and it’s best to learn one thing at a time. I see people hop from seminar to seminar, always looking for the magic recipe. Most money-making secrets in Real Estate come down to finding one recipe and focusing on it until you are confident, then going on to other areas.
3. Commitment. You have a WHY and have picked an area to work in, now you need to make a commitment. This helps if you do some goal setting first, so you know exactly what you want. Make a commitment to yourself that you will follow through. Commit to being the best you can be; that you will do whatever it takes to get where you want to go.
4. Persistence. This is one that goes along with character and discipline. Do whatever you have to do to make it happen! There will be some failures, or things that don’t turn out exactly as you planned. Are you going to let that stop you? Did you know some of the wealthiest people have also gone bankrupt at some time in their lives? Thomas Edison said, “I am not discouraged, because every wrong attempt discarded is another step forward.” You can do anything you really want to do; you just need to take the next step.
5. Action. This is the biggest secret of them all. It’s not really the last one, it fits in between these others also. ACTION, a very powerful word. We know what to do, but we don’t always do it. We study and learn about investing in Real Estate, we go to investment meetings, we read the ads, but never make the calls, never make the offers. It’s not what you are going to do that makes a difference, it’s what you are doing now. Take the next step to freedom. Take ACTION NOW!
OK, let’s get started.
Real Estate Secrets Every Young Nigerian Should Know.
1. The Starting Point For Anyone Who Wants To Invest In Real Estate Is Considering It And You Don’t Need Money In Your Pocket To Do That.
Being bold enough to consider it is the foundation, It Is Possible To Invest In Real Estate Without Money, For more information on how to go about this I suggest you pick up a book titled “Nothing Down” by Robert G Allen
2. If You Would Like To Finance Your First Investment, You Can Start Saving For It Right Away.
This approach is probably the most obvious. I recommend investing in Treasury bills (look this up if you’re not already familiar with it) amongst other low-risk investments that can help you multiply your money. Saving towards a goal makes it easier and more enjoyable.
3. Instead Of Thinking Affordability, Think Collaboration.
You don’t have to invest in real estate alone, or even save up for the investment all by yourself. People come together to acquire property all the time! Even if you don’t have any money now, check out this scenario: you and 9 other women save 100k every month. In a year, your group would be able to afford a property worth 12 million that none of you can afford individually. And you already know that even if all you do is buy land and sit on it for a few years, it will appreciate and you’ll all be richer for it when you offload and share profits!
4. The First Step To Making Money In Real Estate Is Research.
Know your location and ask lots and lots of questions.
5. When Investing In Property, The Title Is Everything.
This is why Hazelcrest properties settle this first, before proceeding to anything else.
6. When Starting Out In Real Estate, Start Simple.
For instance, it’s always a good idea to house people. People are crying out for affordable accommodation.
7. Know That Real Estate Is A Long-Term Play.
It’s not liquid, and it takes time to extract liquidity from it, so don’t come at it with a “make it quick” attitude.
8. Even If You Can’t Do Anything Else For Starters, Buy Some Land.
A land is a great option because you can’t go wrong once you’ve secured it. Unlike developed property which you need to maintain, land increases in value on its own as time passes. You can even decide to lease it to a farmer or rent it to a telecommunications company.
Mark Twain- “Buy land, they’re not making it anymore.”
These real estate secrets can be utilized by anyone looking to grow their wealth irrespective of who you are or your current financial position.
The possibilities are endless if you simply open your mind to the fact that you, too, can invest in real estate. Once that can happen in your mind, it can happen in your life. If you need help on how you can go about this click here to get a free consultation from us at Hazelcrest properties we would be glad to walk you through