Very interesting , can you give me more details of the property, as in location, how close is it to town, school, market etc, its price and all of that.

How can I reach you on these property?

Hello Lawyer, don't know if this is the right thread to ask but let me just shoot my question.

Please how can an investor protect him or herself from real estate developers that build blocks of apartments and directly sells to the public in units? Most time the apartments are expected to be finished in a year or two but in an event where unforeseen circumstances occur and the project cannot be completed like, death of the CEO, delays in raising the needed funds within the stipulated periods thus costing in building increases or maybe outright fraud. What can be done to protect yourself/money against these situation.

DID WE GET OURSELVES BURNED OR LG BURNT US!!!

I came across this trend two years ago and was very happy to have gone through it, page by page, post by post and actually, I learnt a lot from all that has been placed. It actually made me grow more curious, caused me to do more research and also I had to redirect some investors to other investment properties that were of better investment.

Now I know many have had enough of the things going on in Lekki Gardens and many still have a lot to vent in anger about them, if it were in their power, they'd close the company down in a split second but sometimes, we also tend to forget that we also have the responsibility to admit that we have a part to play and to be blamed in any real estate investment error.

But what makes it even worst is that people are still going into the same mistakes over again with a different real estate company while others are repeating it with the same company.
Its too bad all this is happening to good people trying to make some good investment decision, but lets look at some of the attractions we saw and figure out where we erred.

* THE PRICE: This always was and still is their marketing edge, currently Lekki gardens have started a project here in Port Harcourt where I reside but of all the real estate developments going on in the state (PH), Lekki Gardens beats them all in price by a huge margin. But you see price is the last thing to look at when investment is involved, its of utmost importance, but it should be the last. Many are so shocked by the price that they don't even think anymore, so what they do next is equally shocking... they just invest... without thinking.

*THE NAME: Nowadays just hearing the word "Lekki" and every investors in Nigeria is paying attention. Many are being fooled that the best places to take their real estate investment is in the high braw (excellent, pleasant, attractive) locations, forgetting one of the laws of investment properties has more to do with, how much demand is there for such kinds of property? And not just the name. Lekki Gardens has branded its self so well that it is now a house hold name in the Nigeria real estate industry. I can tell you for a fact that many are buying into this properties here in Port harcourt because they have heard LG has been doing it in Lekki and now they are doing it in GRA.

*THE RESEARCH: Now, here I can say that many people believe that having a property is of utmost importance in this country especially with an inflation of over 9%, which is still increasing, high cost of rental apartments in town and the possibility of making a great investment deal from its sale. But there is a common trend people do while buying, NO RESEARCH WORK!! . Its too important to research as many available offers you get when trying to buy a property, but it should not stop in the property price, but also the last properties built by developers, finding out if their clients where satisfied, comparing your results from at least 10 other developers already building.

Many times many fall back to price or brand that's why we have so many complains in this thread but when you have done your due diligence properly not falling to emotions or the hype of the location, you'll have a better chance of buying the right property with the right price in the right location that has a great value.

This thread has helped a lot from going into property investment especially LG irrationally but bashing Richard or Lekki Gardens in here all day won't stop his business from moving on (like I said Lekki Gardens already have major projects they are building in Port harcourt and many are buying into it, and that's if its not already sold off).

We should find out our errors and learn from our own mistakes to become better in the game and guide people to much better estate developers, estate investment deals and the likes so others are protected.

Its too bad it all happened but we become better when we treat our burns and prevent others from getting burned.

So did you get yourself burned or did LG burn you?