PERSPECTIVES ON LAND BANKING:-
We must have heard people say things like:
'It is unimaginable that I bought the land few years ago for a few thousand naira, now it is valued for millions of naira."
"I had the money to buy land in the choicest location, but I was more interested in partying, and spending money on frivolities."
"I was offered land in that very location but I hesitated. I kept thinking of when the area will get developed. Now, I cannot afford to buy there again. How time flies!"
These statements lend credence to the fact that land is a product that is always on the upward spiral. It does not run out of vogue or depreciate, and it offers the highest return on investment. This summarizes the concept of Land Banking.
Land Banking involves the
purchase land with the intention of selling it at a higher rate for profit at a future date. Investment in Real Estate has advantages over bank saving, shares, stocks, etc. because it does not get affected by inflation and market fluctuations. It is regarded as the underground bank and the surest store of value.
Let me conclude this piece on a light note. The story is told of a certain billionaire, Chief Emeka Ahamefuna Nwankwo. He bought a house for N75 million for his girlfriend in VGC in 2010, but the document of the house was drawn in his own name. He gives her a monthly maintenance allowance of N500,000.
By January 2017, after they broke up, he decided to sell the house. A quick calculation shows that after 6 years fling with the lady, he spent a total sum of N36 million on her monthly allowance. Added with the N75 million cost of the mansion, this amounts to N111 million. He sold the house for N225 million, which means he made a net profit of N114 million.
When his wife found out about this, she was mad and yelled at him, "BLOODY IDIOT!!!
Why didn't you keep two mistresses? By now, we would have made a profit of N228 million."
This is to show how profitable investing in Real Estate is. The return is always higher than any other investment option.
Buy now when it is within your reach; hold on to what you purchase; and re-sell for maximum profits:
1. Royal Haven Garden, Phase 2
Location: Okun-Folu, Ibeju Lekki
3 minutes from La campaigne Tropicana
Price: N 850,000
Title: Excision
2. Lekki Sunshine Garden
Lepia Town, Ibeju Lekki
Price: N1.2 million (Buy 5 get 1 free)
Title: Excision
3. The Summit Home
Location: Eleranigbe, Along the New International Airport, Ibeju Lekki, Lagos.
Title: Excision
Price: N 2 million (Buy 6 get 1 free).
4. Arium Estate
Location: Abijo GRA, Ajah, Lagos
Title: C of O
Price: N 7 million
Land also available at Ikorodu and Mowe for N900,000 and N800,000 respectively.
Contact: +2348034334692 (WhatsApp enabled).
IG: @qlhomes
Visit: www.facebook.com/qlhomes
Remember: Always discuss land matters because, Land Matters!
With Love,
Adebayo Olusegun (Esq.)
Pls, share
