ESTATE GUIDE SERIES: 61
Weekly On Saturdays

14-09-2024

Theme:

INVESTMENT PROPERTY

- Introduction:

What Is an Investment Property?

An investment property is real estate property purchased with the intention of earning a return on the investment either through rental income, the future resale of the property, or both. The property may be held by an individual investor, a group of investors, or a corporation.

Examples of commercial investment real estate include land held for long-term capital appreciation rather than for short-term sale in the ordinary course of business, office buildings, retail centers, industrial warehouses, medical offices, and mixed-use developments.

- How does real estate investment work?:

Direct real estate investments involve owning and managing properties. Indirect real estate involves investing in a pool of money that is used to buy and manage properties. Example of these are land co-own or mutual land banking investments currently on sale.

- How to invest in land and make money in Nigeria?:

• Rental properties: Generating income through renting out residential houses or commercial spaces, or offices.

• House flipping: Purchasing a limited land property, building a mini and serviced estate on it, and strictly reselling it for a profit.

• Real estate development: Constructing a newly layout land or housing estate, or rehabilitating existing ones mostly for sale in phases atimes, or renting it out for residential, or commercial purpose.

- What type of investment property makes the most money?:

Commercial properties are considered one of the best types of real estate investments because of their potential for higher cash flow, whether as long or short term rental properties or outright selling, they are the best types of real estate investment because you can earn a high Return On Investment or monthly positive cash flow.

- Investment Land Property Documentation:

Land documents are more than just pieces of paper; they are the legal proof of ownership and the foundation of a secure real estate transaction. Without proper documentation of investment estates, property buyers and investors risk losing their hard-earned money to scams, disputes, and legal battles.

- What are the documents required to own an investment land in Nigeria?:

• Certificate of Occupancy: In Nigeria, the main document that shows you own a piece of land is the Certificate of Occupancy (C-of-O).

• Deed of Assignment: A Deed of Assignment is an essential legal land document for recording the sale of land from the seller to the buyer.

• Survey Plan: A survey maps out your land boundary and size, detailing the land ownership and a registered copy establishes Government approval and appropriate zoning restrictions.

• Land Excision: This is the process whereby the government releases a parcel of land back to the indigenous owners of such lands for the purpose of residential and commercial developments. When this excised parcel of land is published in government official gazette such a land is said to have "Gazette" as title.

• Receipt: It is a transactional evidence of payment for a real estate but not a legal instrument or Government issued documents for securing the subscriber's ownership.

• Governor's Consent: A land or housing property with existing C-of-O cannot go through another C-of-O processing in the hands of a new buyer, instead, the new buy obtains the consent of the state Governor who approved the previous owner's C-of-O initially.

• In Conclusion, land ownership can be a great investment as long as you enter the deal with an awareness of all of the risks and pitfalls involved. By conducting careful research, investors can take advantage of low property prices and purchase land that will be worth much more down the road.

• Ask Realtor Michael

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Our goal is to provide legal advice through our "Estate Guide Series" to answer your real estate questions by simplifying your complex land and housing matters.