Hey there, are you interested in going into real estate business part time or full time? We’ve got all covered on this page as we reveal to you a successful guide on how to start real estate business in Nigeria 2023.
This surely will be all you need in getting informed on how to properly startup your career in the real estate field without having to suffer so much lost in short time.
Real Estate is one of the lucrative businesses in the Nigerian market anyone can start today. Most especially in a country like Nigeria where most of the states and regions are in a developing stage and people are searching for homes to live close to their working place due to recent expansion in the industrial sector of the country.
The main ideology of real estate business is to acquire properties and flip when the worth increase or perhaps stand as an agent for other real estate business men/women. Serving as an agent has to do with you bringing customers to acquire properties from your client while you get certain percentage or cut. This should be the broad few of earning a living in Real Estate business. We will channel this further in our article so make sure you consume the information on this page so as to be properly informed on how to start a money making career in real estate business.
Starting a Profitable Real Estate Business as a Newbie
Remember, making money from real estate business has to do with buying, selling and renting out for some time. This simply means that how much you can earn is determined by your startup capital as well as guidelines which will be revealed soon on this page. Since this content is for dummies, we will be kickstarting with basic steps before the complex ones.
How to Start Real Estate Business in Nigeria 2023
To successfully explore into the real estate world and start a profitable money making real estate business in Nigeria, you should follow guides that will be provided below;
Seek for Council from an Expert in Real Estate Field
This we regard for anyone who want to ride into this real estate business. Real estate itself is a sword with double edged blades which means you need to be careful when kick starting to avoid or limit the risk involved.
Seeking an advice from an expert real estate investors will not just educate you on the risk therein in the business but also; help you explore the tons of opportunities in this money making field.
Register a Business name under the Corporate Affairs Commission
Starting big always gives you an upper hand in the field of real estate. Not even just an upper hand, most clients will want to go in contract or partnership with companies registered and recognized nationally within their jurisdiction.
Now this is where registering your business with the National Corporate Affairs Commission (CAC) comes in. The CAC is a constitutional body recognized by the Nigerian constitution and law, the body is saddled with the responsibilities of registering all sort of business in the country at Federal and State Level. You will be issued a certificate of registration after registering your business with the CAC which you can keep as a legal document for your business and this surely will earn you more trust among your competitors in the field of Nigerian Real Estate business.
Only Buy Properties with the Potentials of Making you Rich
Real Estate business in any part of the world is not just about buying and buying random properties. There are some factors that need to be checked and proven worthy before you should pay for any property as a real estate investor. This is why we wrote on our guide of Factors to Consider before Investing in any Real Estate Property in Nigeria.
Among other guidelines stated above on this page, we believe that this is the most important and crucial among others because this is where the real risk lies. This can either make or break you so we recommend you visit the above link and also make a thorough study on how to identify properties that are worth investing in real estate.
Watch out for Scam or Fake Properties
There is a saying all general saying “cannot be bad and all cannot be good” and this is the inspiration behind the listing of this business guide on real estate. This is more of an addition for the key guides stated above. Consider this as an upfront bonus of not losing your capital in the Nigerian real estate market.
There are fake property owners claiming they are real owners of even agents to some big real estate company and as a beginner, you might fall prey to this as they are experience in what they do. This might end you up, purchasing the wrong property which may further result to you losing all your invested fund in the game. Losing of fund here is more like losing your capital in Crypto trading which there is a high chances of you not recovering from the lost.
So as advised, always watch out for fake property sellers and/or fake property owners in real estate business.
Make Extensive Research Before Investing
This is simple but can only be done by you or your real estate agency. This has to do with you doing soe background checks and confirmation which won’t result to much expenses at your end before investing your money in real estate properties anywhere in the country.
This applies to all states in the Federal Republic of Nigeria.
Conclusion: Starting a Lucrative Real Estate Business in Nigeria
Glad you made it to the end of this informative article which covers the guides to starting a profitable real estate career in any part or region of the country. If you follow guide on this page properly, result you will get in Real Estate business will be massive and surely it will happen before you even notice it.
All links on this post are important so make sure to consume them also as they will be resourceful to you most especially you are just starting out and you plan on standing out as a growing company/agency in the real estate field. Further guide on how to start real estate business as an agent with zero capital can also be resourceful.
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