7 Ways On How To Make Money Off An Apartment, Maisonette, Penthouse, Bungalows, Terraces, Duplexes In Lagos, Nigeria – One Of Our Best Real Estate Advice By Anne Nwakama Realtor
Earning income from real estate investment in any part of the world is as old as man itself; Real Estate in Nigeria is one of the major steady income streams for Nigerians and Non Nigerians. You might also be wondering which of the investment is suitable to make money off??? One of them is an Apartment which I will explain further.
With many calls and chat I received from clients; alot more who are real estate investors in Nigeria are concerned on how they can make money off their apartment investments or better still invest into the right apartment to make money off it.
I had to narrow down this into 7 Ways to make money off an apartment investment in Lagos :
1. Buy & Resell : This is one of the easiest ways to buy a home. You buy and Resell. For example we’ve got alot of offplan developments. You buy at ₦20m per unit and once it is ready you sell at ₦35m. With this you are able to make good turnover on this investment. I made a Youtube video about this please watch below: HOW TO BUY & RESELL PROPERTIES IN NIGERIA
2. Serviced Apartment & Shotlet : This is becoming very common and replacing hotels bit by bit in Nigeria. During the Covid19 lockdown many serviced apartment was making alot of income because there were demand for Airbnb and short stay homes since hotels were asked to closed down service. Many of these home owners gave account on how they made so much money off this business. Some of them made as much as ₦100k per night for a 4 Bedroom Duplex which they had about 80% Occupancy rate which is more higher than the rate of normal rent. Here is One Youtube Video of ONE OF THE CHEAPEST APARTMENT AT ABIJO.
3. Lease Agreement: This is an agreement between a lease lease a lessor stating a certain period of time to lease a home. When it comes to an apartment a lease agreement is commonly carried out by top international companies, Nigerian companies for their expatriates and staff to stay. Alot of investors are enjoying great return on their lease agreement. If you need information on that please check our contact to reach out to us.
4. RENT : This is mostly common in Nigeria. Every tenant is expect to pay monthly or yearly. Alot of times it pays off when you have suitable landlord and tenant agreement backing your property up. This cannot be ruled out because people need homes that has proximity to major developments and their place of work.
5. Staycation : You may honestly need an holiday home in one nice part of the country rather than being abroad for long or you need a home that has proximity to major attractions for you and your kids then you just buy an apartment at that location. You stay there anytime you are around and still give it out for shotlet if you choose to.
6. Shared Apartments : Another good way to make more returns on your apartment; many real estate investors who have properties in relatively expensive neighborhoods have converted their homes to Shared apartments to enable more people to afford the rent. As a smart investor you tend to get alot more.
7. Flipping : This is a kind of investment that you buy old or dilapidated properties in good locations at low prices but use a processional realtor also to ensure this is certified then repair it to sell or rent and this will also fall into the market price with goof returns.
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