Real estate investment is about acquiring real estate in larger quantities almost at the same time. For example, you may acquire properties, lands, commercial lands, warehouses, etc. to resell, whether in the short or long term, depending on your goals. You can either buy a property for residential use (to live with your family) or acquire it for business purposes (i.e., to resell later). Real estate investment is not like any other investment you can’t control. You can buy a property now and resell it almost immediately at a higher price, even without lifting a finger. However, location is a major factor when choosing an investment in real estate, but there is no location where you can’t acquire land and properties. What will mostly determine the choice of location is first your goal (what to achieve with it), and secondly your gold (the money available at hand or in a bank).
Available Location VS. Desirable Location
A friend’s husband was going to sell off his property in a particular area in Iju Ishaga, Lagos, to buy another one in Ketu, Lagos. The stage at which the property was could be valued at an asking price of 20 Million Naira (if in a developed environment) but people were pricing it for 7 and 8 Million Naira. He couldn’t sell off the property as expected because the offer wasn’t too good for him as well was not enough to buy his dream location. When I was told about this case, the first question I asked was if he had other properties in other locations so he could sell off two to buy one. Real estate is dynamic if you understand it better. I’m sure you will when you are done with this book. My friend in the above story could have acquired more properties in available locations for him to resell to get properties in his desired location. This is how to approach real estate investments especially if your goal is to create wealth with it.