TIP OF THE DAY
Imagine for a moment that you're ready to buy your next Lagos property.
The question is:
Where should you buy the property?
What part of Lagos should you buy your next property?
Here's my recommendation:
Follow the money.
Buy where the money is.
What does that even mean?
...buy in a location that has the potential to earn you the highest possible return on the capital you're investing on the purchase of the property.
The above recommendation is contrary to how most people buy properties.
So, how do the majority of people buy properties?
The majority of people, especially first time home buyers, buy property...
1) Based on emotional attachment to the property (or the location where the property is situated) or...
2) Based on where their friends or family bought or...
3) Based on places recommended by their family or friends (instead of by professionals)
They end up with very low return on their Lagos property investment.
Don't make the same mistake!
Now the big question...
"What criteria must a property meet to qualify to be called a high yield investment property?"
Well, there are two key criteria:
Criteria #1: The Property Must Be A Land Within An Estate
The reason is because land within new estates tend to be low priced because the owners of the estate are desirous of selling fast to recoup their investment.
Second, land within estates tend to have good return on investment over time because there is a general perception that land within estates are higher in value.
This means that when you're ready to re-sell the land, you will be able to get good price for it.
Third, land within estates owned by reliable real estate developers tend to be more secure and free from incidences of fraud. So, you can be sure that your investment will be protected.
Criteria #2: The Investment Climate of The Neighbourhood
The second key criteria for selecting high yield investment property is the investment climate of the neighbourhood, area or region where the property is located.
For example, if the property is within (or close to) an industrial area, the value is likely to grow rapidly over a short period of time.
On the other hand, if the property is located in an area where there are no industries and no foreseeable government investments in the very near future, property prices in that particular area are likely to remain relatively stagnant for a long period of them.
My name is Samson Itoje.
I am a Lagos Realtor focused on helping my clients get the best possible return on their Lagos property investment.
My Lagos property investing solution help my clients massively grow their wealth so they can... at the very minimum... maintain their standard of living even after retirement.
Book a 15-minute FREE Strategy Session Call with me to get FREE access to my unconventional method to succeed with Lagos real estate investing.
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