MAKING THE RIGHT DECISIONS IN REAL ESTATE

MAKING THE RIGHT DECISIONS IN REAL ESTATE

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Everyone has that awesome believer of a personality growing up right? For most it’s the all conquering super Mum. I belong to that group.

You see Mum has been my super SHERO for as long as I can remember and over the last few weeks I have had the privilege of working with her .

Trust me when I say few can compare to her in business . She may not be your Folunrusho Alakija but she’s certainly raising a man that would make Dangote’s achievements a child’s play( you can sue me at this point ).

The small chops of this article are a couple of things I have gleaned from Momma mostly in the kitchen on her real estate journey . I love stories and so I’d share this with you by telling you about Johnson .

You see Johnson was your typical vibrant and ambitious 26 year old. Fresh out of the mandatory NYSC program, he was ready to take over the world.

Johnson had plans like every other serious dude his age: get a good job, save up some money , marry college sweetheart , raise a family bla bla bla. The thing with stories like his is that they don’t usually go the Nollywood way .

Eight years down the line and Johnson is still a certified squatter and baeless but with his dreams intact. Plus Johnson is also an entrepreneur but hasn’t attained the heights he envisioned way back.

Most people’s present doesn’t in anyway look like how they planned it in the past. Stuff happens . Loss of a dear one, termination of appointment , heartbreak, name it.

Businesses and enterprises are not spared too. Policy change , new technology , change in consumer taste, the list is endless. That said, the entrepreneur shouldn’t throw in the towel. Instead, he should hang it firmly around his waist. How?

Knowledge!! He should know:

* THE BASICS : Like all spheres of life , in real estate there are basics . How much of these are you aware of? Are you aware that different states have different land use charges hence what applies in Lagos may not necessarily apply in your native Edo?

* WHERE: There are prime locations and choice areas that ramp-up value. Not every location is suitable for that magnificent event centre of yours . Some areas may not be suitable for a 3 floor building . Such knowledge would help you identify the ideal land for your project .

* WHO : A surveyor that doesn’t perform a correct assessment to ensure that the physical land and that on the title document are same in terms of size and configuration has no business being your go-to person.

Business is as much of money as it is of people and a greater number of losses experienced are usually down to people error . Be certain of your who! Check. Verify .

* TRENDS : Nothing disrupts businesses more than trends . Trends are subtle but deadly. Current trends favour facilities that contribute to a higher quality of life .

Local investments have been going the way of recreation centers , student accommodation , office spaces etc. Each comes with it’s own peculiarities . Your responsibility? Know which suits you and your economic realities.

Real Estate requires real wisdom.
“Happy is the man who finds wisdom and the man who gains understanding for his proceeds are better than profits of silver and his gain than fine gold” – Proverbs 3:13-14 .