One of the best assets to own is unarguably real estate, and one of the best investments to make in any economy is in real estate. Many of the world’s most renowned millionaires have at one point, or the other used real estate as a vehicle to earn passive income and simultaneously secure their wealth.

Most people shy away from real estate investments because of the general perception that real estate is expensive. While real estate has a higher entry price compared to stocks and bonds, there are still several easy ways to kick start your journey as a real estate investor without breaking the bank.

HERE IS THREE SIMPLE WAYS TO INVEST IN REAL ESTATE ON A BUDGET:

1. Invest in co-ownership schemes: Co-ownership is an investment scheme that standard real estate development companies usually offer. The scheme enables two or more investors to contribute funds to acquire a single rental property. A facility manager is assigned to manage the property and share the rental returns amongst the co-owners of the property. This investment strategy can be done with friends or trusted business colleagues.
2. Get a mortgage plan: Good old mortgage is a great option to consider when you have a low budget. In Nigeria, most federal institutions provide mortgage support for staff members. If you work in the private sector, you can encourage your human resources personnel to include mortgage support in the employee welfare packages or join a cooperative society that offers mortgage loans to members.
3. Request for a flexible payment plan: Many notable real estate developers offer flexible payment plans on lands and rental properties to remove the pressure of one-off payments. When you find a suitable property, you can negotiate for a personalized, flexible payment plan and pay for the property in bits. Some real estate companies offer up to 24 months payment plans.
4. Invest in off – plan sale: Off- plan sale are those buildings investors pay for when the building is still under construction. In off-plan sale once the foundation of the building is laid, investors will be called upon to buy. Off-plan buildings are cheap to compare with finished and furnished houses. As an investor if you are on budget, it is advisable to go for off-plan sales.

Real estate investing is a great way to take up your finances and set yourself up for financial independence. If you are just getting started, speak with an experienced property advisor or consultant that can set you on the right track and save you the cost of falling for scams or making critical investment mistakes.

In such economy as ours, the best investment to make now is in real estate, even though the value of naira is depreciating so fast the value of real estate is appreciating. Saving your money in Banks or Forex trading is not the best investment in this current economy. Invest wisely today! Invest in Real Estate! It pays!

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