Improve Your Finance Through Real Estate

August 17, 2022by REDOC0

It’s 2022 and the hard reality for us to digest is the current state of the economy and increasing inflation which reduces the purchasing power of the citizens. This is a global issue, even as much as we can find a fault in the governing policies and regulations of our so-called Government.

It’s a pain in the hearts of millions of Nigerians out there looking for a way to better their future and improve their finance. But amidst this entire crisis going on, there are also people investing and making money work for them.

Yes, there are people increasing their wealth day by day. By now you should have come to the realization that to be successful is not about the level of hard work but how smart you’re in executing your work activities. If it is by hard work, the majority of our parents will be wealthy today without you having to go through all this stress.

Read also: 2 Biggest challenges Restricting You From Financial Stability

But as people say ‘in every situation, there’s always an opportunity, and that’s for those that truly care about their life. And always take action at every opportunity, regardless of the circumstances. I know you don’t want to be the type that later whine around sometime in the future, about why and how you missed out on an amazing opportunity to turn your fortune around and that of your family.

To be part of these smart people all you need is knowledge. As they always say knowledge is power, which I don’t totally agree with because knowledge without wisdom is useless. So you need both knowledge and wisdom to take absolute power over your finance.

I’m pretty sure real estate is not a strange word to you, which shows you already have a certain knowledge of what this amazing industry is all about, if not visit our website www.redocint.com for more knowledge on that.

So in this article, I’m going to highlight two ways you can improve your finance through real estate investment.

Improve Your Finance Through Land Banking

This is one of the best ways to generate and improve your financial income. Investing in undeveloped land and reselling it after there is an increase in the value of the land. A lot of investors are really into this. All you need is to be able to locate a good location where there is a good potential for development. It is also known as buying and holding. This means you, buy land and wait for the property to increase in value. And you sell with a great return on investment.

A great example of this is a plot of land in Lekki that was bought for 5 million in 1996 but fast forward to 2019 the same plot of land was sold for a whopping 70 million naira. At the point of writing this article, I can confidently affirm to you, that getting a piece of land in Lekki is something quite impossible.

Improve your Finance Through Real Estates Properties

This is another way real estate investors improve their finance state and accumulate their wealth. There are different ways you can go about this. Depending on your finance and your level of understanding of the sector. Before starting out in this type of real estate investment, you have to understand two common types of real estate properties. Which are residential property and commercial property.

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Residential property

The vast majority of residential property income comes in the form of basic rent. Your tenants pay a fixed amount per month- which will go up with inflation and demand- and you take out your cost from it, claiming the remaining portion as rental income. The key to generating more ROI is having your property located in a desirable location for Tenants to secure. Through this you can improve your finance.

Commercial property

Commercial properties can produce income from the aforementioned sources, with basic rent again being the most common. Also can add one more in the form of option income. Many commercial tenants will pay fees for contractual options like the right of first refusal on the office next door. Tenants pay a premium to hold these options whether they exercise them or not.

You can search and read everything on the internet.  Acquire more knowledge but without applying all those knowledge nothing in your life will change. To improve your finance, change your financial situation and cater for the future of your kids. Kindly apply this information and start investing in real estate.

You should visit our investment page at www.redocinvest.com to start your investment portfolio.

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