MY REAL ESTATE STORY
Chinedu Ani Emmanuel (Nedu Wazobia)
My real estate journey couldn’t have kicked started without the assistance of Mr. Chudi Kalu, the founder of Middlechase Property Limited. He opened my eyes to see how to properly invest in real estate. Initially, I used to think real estate is all about having plots of land. Coming in contact with Chudi, I had another mind-blowing perspective and worked along with it. With his advice, I sought for properties that generate rental income. Now, I’m not just a property owner but a Cashflow landlord.
In everything someone does, knowledge is a key factor. Some people get properties that are not yielding any income for them. These kinds of properties are called lazy assets. Such an asset include landed property. Even though the worth of land appreciates over time, its potential for generating more money can still be maximized.
For instance, Mr. X is a real estate investor. He has an expanse of land in 5 locations and believes in years to come, his acquired property would have appreciated. He meets a friend who works with Middlechase Property Limited. He discusses his real estate experience. Having heard all, His friend advises him to sell 3 of his landed properties and build a set of apartment units with the money He gets from the sale. Mr. X acts on the advice by selling 3 of his landed property and builds 16 apartment units of different types in one of his remaining properties whose location has a high surge of rental demand. Now, He enjoys cashflow and He’s willing to replicate the process on other lands. This is what is called real estate investing.
A lot of properties in highbrow locations in Lagos like Lekki, Ikoyi, and V.G.C are experiencing a high vacancy rate because it doesn’t suit rental income demand. For instance, it’s unwise to build 7 bedroom duplex for rental purpose while you can use that same money to build 7 units of apartments in a location that yield a high Return on Investment.
Due to the economic recession, a lot of people will be affected financially and that is why investing in profitable rental income is very necessary. Real estate investment is not about acquiring property but having the property that generates a lifetime consistent cashflow. Therefore, instead of having a property for title sake (which an average Nigerian does), it is wise to invest in a property that will put money in your pocket.
QUOTES FROM CHINEDU ANI EMMANUEL (NEDU WAZOBIA)
· Real estate is about discipline. You don’t need to have big money before you can earn big.
· One important element in real estate is Vision. You just don’t invest in property because everybody is investing. Have a focused-mindset and stay away from distraction.
· You don’t have to be rich before you invest in real estate. Real estate is for everybody. With little money, you can kick start your real estate journey.
· Most of my investments is real estate because it saves me from a cash trap. When I’m financially unstable, I sell one of my properties and use the money to finance my course and still re-invest part of the money in property.
· Real estate is about calculation. This is how I multiply my portfolio: Let’s say,
1. I bought a genuine property for 1 million naira.
2. Due to law of appreciation after some years, I resold it for 6 million
3. From the money, I buy 3 properties (2 million naira each) and wait for some months or years for appreciation purpose.
4. When each property worth 5 million naira (making 15million naira in total), I resell and,
5. Repeat the process until I begin to generate consistent rental income. This process can be done in less than 10years. One key thing is to be focused.
· One of the best periods to invest in real estate is in the time of economic recession because there will be a drop in the value of property. Many property owners will be left with no choice than to sell their assets at a low price. As a wise investor with liquid cash, you have to maximize this time to 10x your financial life.
· Buy real estate in the name of your children so that when they are grown, you will have something to fall back upon.
· There is no age limit to real estate investing. You can get started in real estate once you have control on your financial life.
· Instead of investing in things that are perishable, invest in real estate that is not perishable.
· Invest in a woman who gives you peace of mind, adds value to your life and wants to help multiply your investment portfolio.
QUOTES FROM CHUDI KALU
· Having a property to your name is not a bad idea but the question to ask when venturing into real estate is, what do I want to achieve as regards having this property? Focus is key.
· To make money in real estate, you have to be human-centric. Focus on what people can use and not just appreciation.
ABOUT CHINEDU ANI EMMANUEL(NEDU WAZOBIA)
Nedu Wazobia is a Nigerian on-air personality, broadcast journalist, TV presenter, actor, comedian and content creator. He is famous for adding a unique spin to his pidgin rendition of the daily news on popular radio station Wazobia FM 94.1 Lagos.
