Real Estate Business in Lagos

Welcome to topschools.com.ng, the topic is "Real Estate Business in Lagos"

Have you been searching to know how real estate business works in Lagos State? See below.

See How to Make money in Lagos

Do you want to know more about how to start real estate business in Lagos?

Then, relax and go through this short page as we shall show you everything you must know about this profitable business called "Real Estate"

For those who must not have heard about this lucrative business before, we shall take our time to describe and explain the meaning of real estate business right here.

What is Real Estate Business? Lagos

Remember, this page will be brief and straight forward. We just want to introduce to you the definition of the business first.

The term "Real estate" can be defined as the property, land, buildings, air rights above the land and underground rights below the land. The words real estate also mean real, or physical, property.

Now, let us look at the various types of real estates...

Types of Real Estate

RESIDENTIAL REAL ESTATE

includes both new construction and resale homes. The most common category is single-family homes. There are also condominiums, co-ops, townhouses, duplexes, triple-deckers, quadplexes, high-value homes, multi-generational and vacation homes.

COMMERCIAL REAL ESTATE

This includes shopping centers and strip malls, medical and educational buildings, hotels and offices. Apartment buildings are often considered commercial, even though they are used for residences. That's because they are owned to produce income.

INDUSTRIAL REAL ESTATE

It includes manufacturing buildings and property, as well as warehouses. The buildings can be used for research, production, storage and distribution of goods. Some buildings that distribute goods are considered commercial real estate. The classification is important because the zoning, construction and sales are handled differently.

LAND

This includes vacant land, working farms and ranches. The subcategories within vacant land include undeveloped, early development or reuse, subdivision and site assembly. Here's more at Land Broker Transactions.

Having known this, let us now see how real estate business works in Lagos State, Nigeria.

Real Estate Business in Lagos, Nigeria

Starting a real estate business in Nigeria is serious a good idea, all you need is to gather the ideas and think of the right thing to do. We shall help you do that.

Imagine you buying a land now in Lagos, probably in a place that is not well develop, keep it for some years.

Think of the amount you will sell the land if development eventually hit the area.

Lagos Investment opportunities in Real Estate Business

Real estate is one business that has many opportunities. You can never run a loss in this business.

The good thing about this profitable buz is that you can start with a large capital or you can start with the little you have. I wouldn't want to start mentioning some successful real estate business men here in Lagos because this page will be filled with so many words to read.

Therefore, all I will do here is to is to give you the various opportunities involved in this business so you can choose the one you like to venture into. Let us take them one after the other.

Land Flipping

In simple term, Land Flipping in real estate means, buying a piece of land and opening it out for sale quickly. In this case, you'll make a lot of profit with little effort. All that you need here is your money and the knowledge to do so. Though it might require huge capital if you really want to make so much from it, but as a starter, you can buy just a plot with the little amount that you have, sell it and buy another one until the money grows to the extent of buying tens of plots and acres.

Opening Space Leasing

This particular one works in a simple and a very unique way. Just Buy a property in a good location and lease it out for makeshift use. You can lease it to organisations or business that wants to develop a makeshift outlet such as car wash and panel biting. They will be paying you monthly while the property is still appreciating for future sell. It is like borrowing money for someone and get paid double interest and still get your money back.

Real Estate Agency

This is the simplest and easiest of all that we have mentioned. It is not investment as you think but service rendering. How does it work? Just Go round and check for properties to let or for sale, advertise your service and secure clients for the property owners, a certain percentage will be paid to you as commission depending on the amount the property is sold or rented. You can start with little or no money and if you are smart enough, you will grow to become a giant realtor. Of course, you can agree with me that such things are abundant here in Lagos, so why not start now.

Property Development

Wow! This one is for the big guys. They acquire properties in nice places, develop it into luxury apartments, commercial structures, etc and sell at a very high profit margin, you can imagine that. If you spend N300 million to develop a property, then, be sure you will sell it at the rate of N600million, interesting...But note, only big guys in the industry can do this.

Office/house rent

This one involves you building a house or office and open it for rent, then, be paid yearly for life time. It's simple, but there are things involved in it.

We advise you to subscribe to this page as we shall be publishing more opportunities right here...