MY REAL ESTATE STORY
Steve Onu (Yaw)
Film and entertainment industries have recently experienced tremendous changes. A lot of celebrities now think outside the box. Knowing fully well that their profession and the endorsement deals can not feed them till old age, most celebrities now diversify their investment portfolio into something tangible and long-lasting like real estate. Many seize the opportunity, shared their real estate stories and what motivated them into investing in real estate.
In this interview, Steve Onu (yaw) talks about the life of celebrities, what type of investment they do, and how they can leverage real estate to build lasting wealth.
Is real estate still a good investment?
Yes, it is still a good business venture so far the platform or company you are dealing with is a trusted brand/company. It is a tangible investment any individual can do, no matter how little, even if it means buying in a place yet to be developed. It is an asset you can pass to your generation.
Is real estate investment meant for the rich alone?
Real estate is not only for the rich but for those who want to be rich. You must not have up to 500 million before you can invest, in fact with as little as 150k and above you can get started, in real estate project gradually grow your money to buy an apartment or land whichever your capital can afford. And you can equally buy an apartment started at 3.5 initial deposit and balance up gradually. The first thing is to get a credible real estate company.
Which would you rather own an Apartment or Land?
It all depends mostly on location. Having landed property in a well-developed area is better than having a house or apartment that is not generating cash flow. Viewing from another angle, a person that has 16 units of apartments where He receives rent on a yearly basis is better than with another person who has landed property in the same location that is generating cash flow because there is no amount the land will worth that can equate the returns the owner of the apartment has made over a period of time.
What should a person consider before building an apartment and which apartment comes first?
Before building an apartment, some factors like location, population, rental demand etc should be considered. For instance, looking at Yaba, Lagos, it is an area that is predominantly occupied by students because of the easy commute to academic institutions. The apartment type that suits the location is a studio apartment which the students can afford. On the other hand, building such an apartment in an area like Surulere, Lagos which is majorly for residential purpose can be a loss on an investor. One important thing to consider is studying the environment to know what goes
Why do most celebrities never think of utilizing their money through real estate investment?
Many of them like to follow the trend without making proper analyses. Another major cause is that there is no management firm. Most of them manage their finances. Their managers, who should have been in a better place to advice can’t do that because these celebrities own their record label. There is some I know in the entertainment industry who could not pay His rent but could lavish dollar on the stage just to show that He’s a big boy. Many celebrities are like that. Instead of having a tangible asset like real estate investment either land, apartment, in Nigeria or have international real estate investment they can fall back on, they choose to buy liability assets.
Should a celebrity invest in local or international real estate market?
Both investments have there pros and cons. Internationally, some countries offer an opportunity to have your visa paper once you can acquire property from their country. Secondly, the rent gotten from an apartment is enough to take care of you and your family. With 1 million or 1.5 million Rand, you can buy an apartment in places like Jobe, South Africa. In Nigeria, it is also a golden opportunity to invest in rental property, especially in Lagos.
In summary, life can be a bed of roses if we play our cards well. It is not how far but how well. 1 million naira land can transform one’s life. Real estate is for those who want to be rich and is one of the safest, secured, reliable and the quickness way to make money.
THE PROFILE OF STEVE ONU (YAW)
Steve Onu popularly known as Yaw is a famous Nigerian stand-up comedian, on-air personality, actor, master of ceremony, event host, radio personality and all-round entertainer.
