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HOW YOUR PROPERTY PORTFOLIO SHOULD LOOK LIKE IN 2024 BY DENNIS ISONG

Published

1 year ago

January 15, 2024

OCHEFA

Today, we’re delving into the realm of real estate, specifically focusing on how your property portfolio should shape up in 2024.

Whether you’re a seasoned investor with a track record spanning five, ten, or just a couple of years, or if you’ve taken your initial steps into investing this year, this discussion is tailored to guide you through the nuances of crafting a property portfolio that aligns with the opportunities and challenges that the year 2024 holds.

It’s a practical example designed to offer insights regardless of your level of experience in the real estate journey. So, let’s embark on this insightful exploration together.

CASH FLOW REAL ESTATE

Real estate is like having money-making machines. You buy properties and they make you money regularly. There are three main ways they do this:

• Rental Income:You can own a house or apartment and let someone else live there. They pay you rent every month, and that’s your income.

• Short-Term Rentals:If you own a place in a cool location, you can rent it out for a short period, like a vacation home. People pay good money for short stays.

• Equity-Based Returns: This is like having a share in a property. Even if you don’t own the whole thing, you still get a piece of the profit.

It’s like having different money streams – some from homes, some from businesses, and even some from farms.

If you own a place in a cool location, you can rent it out for a short period, like a vacation home. People pay good money for short stays.

2. LAND BANKING:

Imagine buying land like planting seeds for the future. Here’s how:

• High-Yield: Some lands grow in value super fast. You buy low, and before you know it, it’s worth a lot more. Quick and exciting!

• Joint Venture (JV): Team up with others to make something big. You have the land, they have the skills to build. Everyone wins.

• Short-Flip:Buy land, hold it for a bit, and then sell it quickly for a profit. It’s like the fast lane of land investing.

It’s like being a smart farmer – planting seeds in different fields, each with its own strategy.

3.STRATEGIC POSITIONING

Think of real estate like playing a game of chess. You want to position your pieces (properties) in the right places:

• High-End Zone: It’s like the VIP area. People pay big money to live or do business there. Eg Ikoyi

• Student Zones: Where there are students, there’s always a need for housing. Universities and colleges are like gold mines for real estate.

• Business Areas: If there are offices and companies, there’s a need for commercial spaces. Invest where the businesses are.

• Upcoming Regions:Like predicting the next big thing. If you can spot an area on the rise, investing there can bring huge returns eg epe ,ibeju lekki

It’s like placing your chess pieces wisely on the board to win the game.

Let’s talk about addition tips that will help you;

• PORTFOLIO MANAGEMENT:
Managing your real estate portfolio is like taking care of a garden:

• Check Your Plants (Current Investments): See how your properties are doing. Are they growing well or need attention?

• Balance Your Garden (Real Estate Types): Like having a mix of flowers, veggies, and fruits. Balance different types of real estate for the best results.

• Get Professional Gardeners (Portfolio Managers): Sometimes, you need experts to help your garden flourish. Similarly, professionals can manage your portfolio for better outcomes.

It’s like having a beautiful garden that keeps growing and blooming.

• LONG-TERM PLANNING:
Planning your real estate journey is like mapping out a trip:
• Careful Analysis: Study the map and plan your route. Similarly, analyze your options and plan your investments.

• Consider Different Stops (Cash Flow, Land, Positioning): Like planning where to rest and refuel, think about your cash flow, land investments, and where you position your properties.

• Create a Roadmap:Plan for the long term, just like planning a road trip. Know where you want to go and how to get there.

It’s like having a well-thought-out plan, ensuring a smooth and successful journey in real estate.

So, as we wrap up our chat about building your property portfolio for 2024, remember, it’s like creating a map for your real estate journey. Whether you’ve been in the game for a while or you’re just starting out, the key is to mix things up – a bit of renting here, a piece of land there, and maybe even a joint venture.

Don’t forget to position your properties wisely, like chess pieces on a board.

Taking a closer look at your existing investments and balancing them out can lead to a portfolio that’s not just strong but also ready for whatever the real estate world throws your way.

Planning for the long term is like setting out on a road trip with a well-thought-out map – it may take time, but it’s worth it.

So, let’s get out there and turn those property dreams into reality. Unlock the door to your success in real estate – the keys are in your hands.

Happy investing!

Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

Related Topics:Nigeria Real Estate industry Outlook in 2024

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JUST IN: FG to seize retirees’ property over unpaid housing loans

Published

6 hours ago

April 24, 2025

Charles Flames

The Federal Government Staff Housing Loans Board says it has begun the compilation of list of retired civil servants who have defaulted on the full repayment of housing loans obtained.

Head of Information and Public Relations, FGSHLB, Mrs Ngozi Obiechina, disclosed this in a statement on Thursday in Abuja.

Obiechina quoted the Executive Secretary of the Board, Mrs Salamatu Ahmed, as saying that the move was aimed at recovering mortgaged properties from retirees who failed to meet their loan obligations.

Ahmed noted that the decision followed a recent memo issued by Mrs Patience Oyekunle, Permanent Secretary, Career Management Office, Office of the Head of the Civil Service of the Federation.

According to her the memo reminded public servants of the mandatory requirement to obtain a Certificate of Non-Indebtedness to the FGSHLB and MDA Staff Multipurpose Cooperative Society as a precondition for retirement.

The executive secretary said that the board would take necessary legal steps to repossess properties where applicable, in line with the terms of the loan agreements.

She said this was in line with the provisions of the Public Service Rules 021002 (p), issued by the Office of the Head of the Civil Service of the Federation.

”I am directed to bring to your attention the provision of Public Service Rule (PSR) 021002 (p), which mandates all public servants to obtain a Certificate of Non-Indebtedness as a prerequisite for retirement.”

“The Federal Government will commence the seizure of mortgaged properties belonging to retiring federal public servants who have failed to fully repay housing loans obtained from the board,” she said.

Ahmed explained that the FGSHLB reserves the legal right to repossess any mortgaged property in cases where a public servant exits service without fully repaying the loan.

She reiterated that the directive also applied to already retired officers who were still indebted.

She urged all affected public servants to regularise their loan status and obtain the required clearance certificate without delay.

“The board is currently compiling a list of such retirees, which will be forwarded to relevant regulatory agencies for debt recovery.

“The FGSHLB remains committed to enforcing compliance and ensuring proper loan recovery procedures are followed, ” she added.

NAN

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Killings: Enough is enough – Tinubu issues marching order to NSA, Service Chiefs

Published

7 hours ago

April 24, 2025

Charles Flames

President Bola Tinubu has issued marching order to security agencies to tackle insecurity within the country.

Tinubu, while ordering a complete overhaul of Nigeria’s security strategy, said “enough is enough.

”He issued the directive during a meeting with security chiefs on Wednesday at the Presidential Villa in Abuja and was contained in a statement signed by his spokesman, Bayo Onanuga.

There have been killings in Borno, Benue, Plateau and Kwara states.

However, the statement said the National Security Adviser, NSA, Nuhu Ribadu while addressing State House Correspondents after the meeting, said Tinubu directed a new approach to tackling insecurity across the country.

Ribadu said, “Mr President gave us the chance to come and brief him again. It lasted very long. We gave him an update on what was going on.

”He explained that while the President was on official visits to Paris and London, he remained actively involved and continued to issue instructions to security agencies.

“Today, we had the opportunity to come and brief him again, and it lasted hours. It was a very detailed briefing, and it was exhaustive.

“The issue of insecurity often is not just at the higher levels. It involves the subunits.

They are the ones who are directly with the people, especially when some of the challenges border on community problems.

“We need to work with the communities. We need to work with the local governments, and we need to work with the governors.

“The President directed that we work more with governors,” he said.

Ribadu noted that the President was “very worried and concerned” at the meeting.

“He said, ‘Enough is enough’. We are working to ensure that we restore peace and security.”

“We were all at the meeting with the President, armed forces, police, and intelligence community,” Ribadu added.