Real estate business can be very lucrative if you know how to go about it. It is one of the most profitable businesses anyone can do in Nigeria. It can also be a loss making business if you do not implement sound strategies and tactics.
I have a number of friends who are making good money from the real estate businesses they do. It is a fallacy that you need a lot of capital to start a real estate business. You can start with little or no capital and grow the business to a multi million naira generating business.
How to make money from real estate business
Sell property for people for commission
You can make money from real estate by selling property owned by people on a commission basis. The commission on property sales ranges between 2%-10% in Nigeria. For example, if you help to sell a property worth N100 million, you can receive between N2-N10 million as commission. Is this not good money?
Just scout around for those willing to sell their property, talk to the m and strike a deal with them. Get to work and market the property, when you get sales, you will be rewarded handsomely.
Look for tenants for landlords and estate agents
A friend of mine named Ade makes over N1 million every month in Lagos by helping property owners and big estate agents to look for tenants.
Just like acting as a commissioned agent for those willing to sell their property, you can also make a lot of money by scouting for tenants for people.
You can be paid commission ranging from 2%-10%. You need to work hard and smart. There are a lot of people looking for property to rent in big cities, find these people and smile to the bank.
Buy cheap land and resell
Nigerians like to build houses. It is not uncommon to see employed people jostling to buy land to build their property.
Most Nigerians do not like to live like tenants. They struggle to have their own homes. Smart investors also like to buy cheap land, hold for a while and sell later when they appreciate.
You can start by buying cheap plots of land, hold for a while and sell later at higher prices. You do not need to have millions to start this business. You can buy a plot of land for as low as N50,000 in some places in Nigeria.
Find your niche, play smart and make money.
Real estate business can be your money spinner, you can start small and grow very big.