Whew!! What a year 2019 has been. I said that like it has ended already. Fortunately or unfortunately a lot can happen before the sun eventually sets on 2019. My guess is, the stock market will experience rapid change with stocks going belly up real quick while some will flourish exceedingly within 24hrs. The usual fuel scarcity scare will loom and probably come to reality for a few days or frizzle away with the harmattan wind.
The pre-election year makes investing a dicey affair for all. Even the bold risk takers have to do a little more calculation this season. The economic tides are as unpredictable as Lagos traffic has been since the last week of November. Whatever happened though. I’m not sure it has ever been this terrible with multiple tankers taking turns on falling sprees.
Our folks from “the abroad” aren’t left out on this at all. I’m referring to real estate investments now. This is the time many return to celebrate with family and take advantage of being here to key into some juicy real estate assets before leaving the shores of the country by new year.
I have a few tips for the IJGB investors. It’s pertinent that they’re shrewd at a volatile time like this. The first thing to do isn’t to try buying rental apartments or a new home through an inexperienced cousin or nephew.
- The first step would be to establish a relationship with a professional real estate advisor or sales consultant for one of the reputable developers or companies around. An individual/company they can verify his/her history by doing a simple background check. LinkedIn, Facebook and websites would pretty much suffice.
- As much as possible, go for as many site/property inspections before you eventually pick a property to purchase. Compare prices with value offering; standard of finishing, location, proximity to amenities, the concept of design, dimensions of spaces within… the parameters to consider are so many, getting an experienced consultant to walk you through your purchase would take all the burden off.
- After picking a property you like, ensure you have the title vetted by a lawyer experienced in real estate acquisition. Lawyers aren’t so good at evaluating ultra modern real estate investment opportunities though. They’re largely inexperienced and unexposed to these areas.
- Most important advice I can give is, NEVER PAY CASH INTO A PERSONAL ACCOUNT. I just believe if you’re paying hard-earned currency for a property, you should be kind enough to yourself to pay into an easily traceable account.
It never gets less tricky to invest in Nigeria. Especially in a maturing and unregulated industry such as Nigeria’s real estate market. I’ll be giving free consultation to the first 10 emails I receive after this blog post.
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