Today we will b talking about how you can invest into real estate with or without money in Nigeria. Investing in properties is a great investment option that could generate an income source.
How to Invest in Property with or Without Money
Investing in properties appreciates overtime, proving a good investment in the cash value of the home or land you want to buy this serves as a method of creating wealth for yourself.
Knowing how to Invest in properties like real estate gives the peace of mind unlike other property like a car which after investment you have to maintain and care for it to give you a good income when using it. Investing in a property to many looks like taking a big risk but many people believe that investment properties become part of one’s diversified portfolio. Having a proper plan and care for these investments makes it a valuable asset which could earn more and give you a steady income in the future. There are various ways to invest in a property with or without money. We are going to look at how to invest in property below.
Analyze your capital
Checking one’s finances helps you know how to invest in properties, this will give you an insight of how much you are to invest. Capital comes through your savings, earning from your job and every other job done to make a profit, you need to invest on the amount available so that at the long run it would not be a burden for you.
The landed property has a value, so also the house on the land does and the income it produces has values for the future investors in the long run.
Earning through flipping of houses and lands
The flipping of house and land implies buying of land, house and reselling them quickly to get profit so as to invest. This process enhances on how to invest in properties. It is one of the fastest investment which requires little or no effort, it involves selling off properties to get funds so as to invest in more properties. For this process, you could start small by having a substantial amount of money by buying a plot of land, sell and grow more plots of lands.
Start Small and Grow Big
Many investors start small by purchasing an apartment and grow into purchasing many duplexes. This is a good way to become a business tycoon in the investment of properties. When you earn more, set up your budget on how many properties you are buying and selling, through this means you become a landowner of your own.
Search for foreclosure properties with low price tags and little or no maintenance requirements. Do not purchase properties in poor conditions unless you can renovate the house. Renovations like new floorings, paint tiles attachment, new roof should be done If you can afford it.
When you invest in properties with your money you feel it is the path to break even of the real estate deal but when you don’t have much money with you, there are other means of investing in properties without money. Below are the ways of investing in properties;
How to Invest In Real Estate Without Money in Nigeria
Partner with Investors
If you have great ideas in you, but you don’t have much money and you want to invest in property with no money, you could partner with investors who will provide the funds for the investment and allow you do the managing which might be an attractive option. You will need to write up a contract agreement base on the responsibility of the properties and how the profit will be shared.
Borrow money to finance your investment
When you want to have an investment and you have little or no money at hand, you will take the risk of borrowing money from families, friends or getting loans from banks. Write up an official promissory note with payment due date in it, a specific interest rate in it and what ownership the lender has in the property. If this agreement is followed, the lenders might be willing to lend you more funds against the future projects.
Look out for motivated Sellers
For individuals short in cash and wants to invest without money, you could also involve in seller financing. The investor purchases a property from the homeowner or seller and looks out for a good seller that could sell the house. This way both partner will sign an agreement which includes an interest rate, repayment reschedule and consequences of what both partners have agreed on. The seller could also decline down payment in return for higher monthly payment. This process enhances the investment of property with no money.
Many investors and buyers are good to go with accepting no money down if the property has been in the market for a while and is being advertised for sale, the seller will be willing to negotiate the price. Some properties online offer incentives like little or no down payment if researched. Following the procedures listed above, you could own a property either with money or without money.