Category Archives: Articles

Who will take over the family business?

Who will take over the family business?

Family-owned businesses have long been part of Nigerian business life and history, yet so many of the prominent businesses in the early 50s and 60s

Biggest mistakes businesses make on Instagram

Biggest mistakes businesses make on Instagram

Instagram has now surpassed the one billion user mark so it has undoubtedly become a crucial marketing channel for businesses to consider. But, while some

Top 10 most lucrative businesses in Nigeria

Top 10 most lucrative businesses in Nigeria

Starting a business in Nigeria may be a bit difficult, especially if you are a bit confused about what business to venture into. Here is

Ways to prevent your bank account from hackers

Ways to prevent your bank account from hackers

There are many obvious reasons that emphasise the need to secure bank accounts. The primary one is the fact that, the bank accounts are the

Paul Tudor Jones says the coming December interest-rate hike ‘will be the last one for a long time

Paul Tudor Jones says the coming December interest-rate hike 'will be the last one for a long time

Legendary investor Paul Tudor Jones says the coming December interest-rate hike ‘will be the last one for a long time’ The Fed is expected to

Why go to work?

Why go to work?

A 25-year-old New Yorker gets $4,000 a month in donations from his social media followers and says he makes more money live-streaming his days than

Is your money coming back?

Is your money coming back?

Author of Practical Steps to Financial Independence and personal finance coach, Mr Usiere Uko, writes on building wealth through getting your money back. The cash

How Obinwanne Okeke turned a university business into an empire

How Obinwanne Okeke turned a university business into an empire

How Obinwanne Okeke turned a university business into an empire worth millions of dollars In this interview, Obinwanne tells us how he started his company,

I have lost over a million naira in my stocks investment this year

stocks investment

I have seen over N1,000,000 of my stocks investment money wiped off this year. And we are just about to finish this year. How did

Best high yield savings accounts compared

Online Savings Account

High yield savings accounts vs Certificates of Deposit (CDs) Interest rates today aren’t great, but if you have savings at a local bank paying less

Give yourself a break from financial pressure

financial-pressure

I feel sad each time I come across folks, especially parents running from pillar to post trying to raise money to pay for what they

Do you have a plan for financial freedom?

Do you have a plan for financial freedom?

Almost everyone would like to achieve financial freedom one day. That is a dream. Very few have financial goals. A goal is a dream with

Five ways to manage joint account with your spouse

Five ways to manage joint account with your spouse

Having one would make it easier to pay common bills, but how do you go about doing it? Here are our tips if you are

Benefits of investing in real estate

Real estate is one of the most profitable investments that has a high potential for success. The investment, however, must be done correctly. Experts and operators in this line of business have often stated that investment in real estate comes with many advantages. They also noted that investors could enjoy a steady income flow that might lead to financial freedom when their investments blossom. According to experts, the benefits of investing in real estate are enormous, as they noted that majority of people invest in this line of business for the steady flow of cash. They added that most real estate investors earn steady revenue that comes in the form of rental income. Operators in the housing sector stated that depending on the location, the investor could be earning significant income to cover his expenses and make extra money on the side. Experts explained that investors in urban cities or towns with colleges and universities tend to reap higher income because the demand for houses was always high in those locations. They noted that if a real estate investor chose the location of his property wisely, he could secure a steady flow of income for a long time and even save for retirement. Operators advised investors in real estate not to stop at investing in one property at a time. They stated that the investor could invest in multiple rental properties simultaneously in order to increase his cash flow and diversify his real estate investment portfolio. The Managing Director/Chief Executive Officer, Federal Housing Authority, Prof. Mohammed Al-Amin, during an interview with our correspondent in Abuja, advised that big real estate investors could manage their invesments by hiring a property management professional if the workload became too much on the investor. Talking about another benefit of investing in real estate could offer, experts added that it could also provide investors with long term financial security. They explained that when an investor has a steady flow of cash in succession, the benefits of such investment brings financial rewards for a long period. They stated that owning a rental property could afford the investor a sense of security. This, according to experts, is because most real estate appreciate in value over time. They noted that land and buildings were appreciating assets, but stressed that there was no guarantee that the value of a property would increase indefinitely. They stated that this was another reason why investors should thoroughly research the location before closing the deal on the property to invest in. On the need to consider the location, Al-Amin explained Nigerians often look for three major things in relation to the Federal Housing Authority with respect to investing in real estate. “Principally, what they look from us is to acquire a house. Secondly is the issue of land, either annexation of the next plot, if it is available, or allocation of a vacant plot if it is also available,” he said. The FHA boss added, “Another thing is the issue of marketing. Now for these three things that we do, we have officials handling them. If it is outside Abuja, we have zonal offices. In our zonal offices, we have those we call estate officers. The estate officer will tell you the type of house involved in any deal, guide you on how to annex or apply for land, as well as guide you on how to seek permission or build or remodel your house.” He noted that majorly, the cartels and people that cheat Nigerians go into these things and might ask investors to bring money on the grounds that there were houses to be sold out by the FHA. “Or they may say bring your money, we have a plot that is going to be allocated to you by the FHA. Or if you are looking for permission to remodel your house, to do extension or to change the use from residential to other uses, they will say bring us your money and we will do it,” he added. Al-Amin, however, stated that what “we’ve kept telling Nigerians is that they should not interact with anybody who is not a staff of the FHA. And even if he is a staff of the FHA, ask him if he is from the estate department. This is because each estate has specific departments and if an engineer, a lawyer or a quantity surveyor, who is not in the estate department comes to you please do not work with him or her.” Experts further stated that the benefits of investing in real estate include the investor’s tenants as well. They said that the rental income which the investor received each month could be enough to cover his or her expenses, including part of his mortgage payments, if any. They stated that in situations like this, the investor’s tenants were actually the ones paying the mortgage. Operators also observed that real estate could not be a short term investment plan. They noted that on the contrary, the benefits of investing in real estate include the appreciation of capital assets like land over time. They stated that another benefit of investing in real estate was that it guaranteed a hedge against inflation. According to experts, high inflation significantly increases the value of a property, adding that real estate investors welcome inflation because it increases their cash flow.

Real estate is one of the most profitable investments that has a high potential for success. The investment, however, must be done correctly. Experts and