Couple weeks ago I was having a conversation with someone.
Someone I highly respect, look up to and take advice from not because he is exceedingly rich or successful, on the contrary he has had a lot of ups and downs in his business but he remains one of the most godly, and wise people I know.
How To Spot High Return Real Estate Deals In Lagos!
I casually asked him, ‘is there anything you particularly regret so far about your life’?
Mind you, he is in his late thirties but he made his money very young before challenges came.
He looked at me with his bright eyes, and replied in a voice thick with the weight of a missed opportunity, “Yes, not buying land in 2008″.
He went ahead to tell me how lands at Ago, a mainly Igbo area near FESTAC in Lagos, were selling for ₦300k per plot then in 2008 and he had the opportunity to buy.
He said that he could have bought 20 plots then conveniently without even feeling it, but he didn’t.
He said that if he had bought the land then, his life would have been much different than what it currently is because when his business started going down, what he would have done was sell some of the lands and use the money to bounce back.
His business wouldn’t have totally collapsed the way it did, he wouldn’t have had to start afresh.
Today as am writing this, the cheapest land at Ago right now is selling for ₦60 million.
Now imagine if he had bought those 20 plots then when his business was still booming.
There is a common money trap that people fall into.
4 Wealthy Reasons You Should Invest In Real Estate Today!
When the money is coming, like a dam that has suddenly been released. Flowing. They think that it will be like that forever.
Heads up, nothing lasts forever.
The book of Ecclesiastes chapter 3 starts with this and I quote, “For everything there is a season and a time for every matter under earth. A time to be born and a time to die. A time to plant and a time to reap what was planted”.
In your time of plenty don’t make the fatal mistake of thinking that life will always be like that. Instead start preparing for an unknown future.
In the biblical tale of Joseph, he predicted a 7 years of plenty followed by 7 years of famine.
When the 7 years of plenty came, what happened? Did they eat and drink all?
No!
While eating and drinking, they also saved for the future. They built storehouses and they stored grains and other things in preparation for the future.
So when the 7 years of famine came, what happened? When the crops, trees and everything was no longer bearing fruit. Did they starve to death?
Once again. No!
But why is that? After all the land was no longer producing food.
They started eating what they had stored up in their time of plenty. Not only eating but also started selling to their neighbouring nations and kingdoms and that was how Egypt became the richest kingdom at that time.
They prepared for tomorrow using today’s resources.
If you don’t invest and prepare for tomorrow using today’s resources, tomorrow you might end up begging and serving someone else who prepared for their tomorrow same way neighbouring nations of Egypt who all ate up their food during the time of plenty ended up selling their lands and other things to Egypt so they can buy food.
But what is the best way to provide for tomorrow using today’s resources?
Is it by saving your money in the bank?
No!
Saving money in the bank or anywhere else is stupid because everyday your money is loosing value due to inflation.
For example, by January of 2022, a litre of petrol was selling for about ₦158 naira.
Am writing this article in October, 2023. Right now a litre of petrol is ₦600.
If you saved ₦10 million naira in 2022 January, with the ₦10 million you could buy about 63,000 litres of petrol.
That same ₦10 million you saved in 2022, if you withdraw it today and try to buy petrol, it can only buy you about 16,000 litres of petrol.
Same amount of money, same currency but as you can see, its value has dropped drastically.
This is why saving money is stupid. Inflation will keep eating the value of your money and every day the purchasing power becomes lesser.
The best way to provide for your tomorrow with today’s resources is to put it to work. Put your money to work.
Use it to buy assets that appreciate in value. Assets like land.
Why did I say land? Why not cryptocurrency or stocks?
Well because of scenarios like this 👇
Since the Biblical times, land had been and continues to be the best storage of wealth. Land is wealth. In the medieval times what determines the wealth of a king is the amount of land under his control.
Even in the Bible when God blessed Abraham, God didn’t give him gold. He gave him land.
The Israelites whenever God wanted to bless them, He gave them land.
Any amount of money you use to buy land is like a seed, sown into the land. It will bear fruit, hundred fold, fifty fold, even twenty fold.
Paul Adefarasin the founder of Church on the Rock church bought about 10 acres of land at Lekki Peninsula for just ₦25 million.
This was back when Lekki was a bushy slum. No developments. Today that land is worth over ₦5 Billion.
You can’t possibly make a loss when you invest your money in land. Neither can you regret buying land.
There are only two regrets you can have when it comes to land investment. Either that you didn’t buy on time or that you didn’t buy enough.
The unspoken rule of land investment is to buy as many plots as you possibly can.
For example the lady above bought a plot of land for ₦1.5 Million. 15 years later she sold the plot of land for ₦90 Million.
Now imagine that she had bought 10 plots or 20 or even 5.
How to Invest and Compound ₦1 Billion in Real Estate – A Must Read.
One regret you can have about land investment is that you didn’t buy enough.
At the beginning of this article I told you the story of someone I know who missed the opportunity to buy lands at Ago when they were selling for ₦300k. Today those lands are selling for ₦60 Million.
Now he has started buying land, but what if he had started since? He would have bought the lands at Ago when they were selling ₦300k per plot and his life would have been totally different from what it is now.
Another regret you can have about land investment is not buying on time.
Something my mentor, Dr Stephen Akintayo always say is, “Don’t wait to buy land. Buy land and wait”
“But Ugochukwu, I want to buy land oo but I have heard so many stories of people getting scammed when they want to buy land. I don’t want to lose my money to scammers or make any mistakes when buying land”.
Yes, you are right. People have been scammed while trying to buy land.
Some bought land only to find out that there are issues on the land, or their land was also sold to someone else and other stories I can’t possibly put here.
That is why I founded Rose Garden Realty Ltd, Nigeria’s Fastest Growing Real Estate Consulting, Advisory and Brokerage Company helping individuals like you, both Nigerians in diaspora and Nigerians back home build, grow and pass down multi-generational wealth through safe, strategic and high ROI real estate properties acquisitions.
We help you acquire genuine properties so you can go to bed, travel out of Nigeria if you want and stay for 20 years, your land or house will still be safe and secure, waiting for you. Scroll down to get in touch.
I am Ugochukwu.
Send me a Whatsapp Message
