Dr Amos Kolawole has today emerged the treasurer elect of the Real Estate Developers Association of Nigeria, FCT.
His victory has been described by many members of the Association as a round peg in a round hole, his wealth of experience as a developer will in no small measure see to the continual advancement of the Association.
Dr. Gbade Kayode has carved a niche for himself in the real estate business with his ownership of 11 smart estates that contained more than 2,700 housing units.
Gbadewole operates with the business name of of Crown Allied Global Realty & Homes. He has fully developed seven different estates in Abuja and Lagos namely Crown Luxury Estate, Airport Road, Abuja, Crown Oakland City, Airport Road, Abuja, Crown Golden City, Airport Road, Abuja, Crown Sheffield City, Airport Road, Abuja, Crown Vista City, Airport Road, Abuja, Hill Crest Estate, Guzape, Asokoro Extension, Abuja and Crown Smart City, Ibeju-Lekki, Lagos which has over 100 blocks of buildings.
His current project is the development of the Crown Boulevard Welfargo Lake City, Karsana District, Kubwa Express Abuja. 500sgm goes for the price of 8.5m, while 350sgm goes for 7million naira.
Chief Executive Officer and Managing Director of Sujimoto Construction Limited, Sijibomi Ogundele, has called for the right kind of leadership to be provided for Nigerian Youths as a way to build the capacity to achieve a strong, economically viable, and politically stable country.
Ogundele said this during a recent interview while answering questions on what he thinks about the description of the Nigerian Youth as lazy and how to properly utilize the potentials of the young population.
He said; “I sincerely believe that I understand what the president meant by that concept, but I disagree with that. I think that one of the greatest assets we have as a nation is in our young people. I have been to different universities, to different schools and spoken with these young guys: there’s a hunger for innovation.
“What we lack as a nation is not in creativity. What we lack as a nation is more in leadership, not only political, but the community and family-based leadership, or someone to push the youths and provide opportunities in different sectors.
“Nations like America, China, and other places have identified that their true asset is in their young people. They have created systems that will support people in education, health care, entrepreneurship, and infrastructure.
Ogundele further charged young people in the country to have as their driving force, the knowledge that there is no nobility in poverty; he said that some critical and internal decisions must be taken to achieve success in Nigeria and not to live with a sense of entitlement but to go all out to grab the ever available opportunities.
“I want our young people to know that ‘Success is not served a la carte. It’s a buffet! You have to go for it!’ Youths should bury any sense of entitlement. The likes of Linda Ikeji, Davido have worked hard and are ripping the reward for their dedication.
“Our youths must know that there is no nobility in poverty; to achieve success today in Nigeria, you must be ready to lose friends, be misunderstood, and be unreasonable in your visions. Nigerians have stopped following leaders who are ‘complaining and murmuring’ leaders.
“Young people must learn to reject the ordinary and risk the unusual. We need to know that Nigeria is a land of opportunities; find these opportunities. The likes of MKO, Ojukwu, Mai Deribe, and others started from their youth days. So, as young people, we have to prepare a ‘don’t do list,’ as much as you prepare a to-do list.”
Sijibomi Ogundele’s company, Sujimoto is building what’s been dubbed the tallest residential building in Banana Island: ‘The LeonardoBySujimoto.’
Real estate historically has provided investors with a stronger return compared to all other forms of investment. It is also an edge against inflation.
As a follow up on the maiden edition of the Homeownership made easy series solid foundation estates limited has announced a webinar focusing on investments in Canada.
Canada is one of the world’s strongest and most stable economies. it is a beautiful and conducive environment with stable government policies. The influx of immigrants to this very receptive country has increased the demand for housing.
“There is no better time to invest than now”, says Mrs. Adetoun Otepola Managing partner Solid Foundation Estates Limited, “We hereby invite you to join us on Saturday 7th November 2020 by 6.00 pm for a very informative session. We look forward to hosting you”.
Chief Executive Officer of Labo group, Olabisi Akanbi wins the City Pride Achievers Award for his business acumen and various support initiatives for youth empowerment.
The real estate management expert has won the best Estate Management Company of the year 2020 at the just concluded City Pride Achievers Awards held this October at LCCI, Alausa.
The award is usually given to appreciate individuals whose business and social activities are directly having a major impact on society. The award ceremony held despite the #endSARS protest going on in the country, several high profile celebrities graced the occasion to receive their awards in business, politics, media, maritime, automobile, and other categories whose contributions especially during the COVID-19 lockdown and post lockdown was a great help in supporting families and businesses in cushioning the effects of the lockdown.
According to Joshua Uloko, Publisher City Pride Magazine who paid a courtesy visit to Labo CEO at his Lekki office, Lagos, the award for Mr. Olabisi Akande popularly known as Labo comes as a reward considering the several assistance and community service his organization carried out during the COVID-19 lockdown, also considering his business achievements within its playing sectors which are real estate management, automobile and entertainment respectively,
“We have heard lots of good things this man has done during COVID-19 that he aided lots of people. Despite business challenges in Nigeria this year, he assisted youths. He has also employed almost fifty young graduates and fifty labours to alleviate poverty in Lagos and Nigeria at large at a time many businesses were laying off some of their workforces.
“Without being immodest, he merited our award. He has proven to be a good role model for many young achievers out there. Young people are celebrating him. That is the reason we are also celebrating him” Joshua said this while presenting the award to Akanbi.
When receiving the award, Akanbi expressed his gratitude and appreciation to the City Pride publisher for the recognition. “We appreciate every positive comment being said about Labo business group. It has been our business philosophy that only the government cannot do everything alone. We have to help people also. That is how Nigeria can move forward. We will continue to do our best. I dedicate this award to our staff who have been working hard to make sure we are recognized”, Labo boss said.
The real estate expert who was also recently honoured by the National Association of Nigerian Students (NANS), Congress of Nigerian Youth (CONYO), and the National Association of Polytechnic Students (NAPS) through his NGO Labo Foundation, raised awareness of the plight of slum dwellers in Agberin community along the Oworonshoki corridor of the expansive Lagos lagoon. The organization also carried out the disbursement of foodstuff to dwellers of the riverine community through an initiative tagged Meals4All. Also in celebrating Nigeria as it clocked 60 years, Labo Foundation was out celebrating with the future of the Nation, Labo Foundation Hosted 1,000 Children In Ibeju Lekki Area and donated food and take home packs to them.
Real estate is one of the most viable kinds of investment. Investment in real estate can become a fortune overnight if the right mix is put in place.
The following are some of the mix to consider when investing in real estate and for those already involved in it to turn their presently dormant investment into fortune:
1. INVEST IN PROPERTIES WITH A HUGE DISCOUNTED VALUE: When buying at a good discount you have the flexibility of selling at worst case scenario at a profit. Here is what I mean. Recently, a friend put his property for sale at almost twice the price of the going rate in an area in Lekki. When I asked him why the unreasonable amount, he said that because he bought it for more than double the actual value. As a matter of fact, he is only left with barely a meagre profit.
The opposite should always be the case when buying a property. Any serious investor should realize that you make your profit from the start of a transaction in real estate and not at the point of resale.
2. ENSURE A SUPER FINISH: When investing in real estate, a few details can make all the difference. The difference between two buildings on the same street may be as massive as N1 million as a result of details. The details can attract a huge fortune to the property owner. Paying attention to details must be a priority to any serious investor if you care about good returns. For instance, Plaster of Paris ceiling as against PVC; Turkish doors as against local doors; wall screeching as against direct painting etc.
3. FOLLOW NEW DEVELOPMENTS: When making a real estate purchase, always ask questions about the kind of development that is coming up in an area; since development will most times attract other developments. An example is the Dangote Refinery; long before the Dangote Refinery project started, I had made a huge stake in that area. Thank God I did! Other developments in Lekki we may consider is Fourth Mainland Bridge; Lekki Seaport; Airport and the Lekki Free Trade Zone etc.
4. BUY PENNY PROPERTIES: Investing in penny properties means buying at rock bottom price. What I mean is buying the property virgin; buying long before there are roads, layouts, drainages or any form of development or title. I do this often. Some of the properties I sell today at N10 million were properties I bought at N200, 000 seven years ago.
5. LOOK OUT FOR YOUTHFUL DEMOGRAPHY: When investing in real estate, we have to consider demography as this will determine a whole lot of other factors e.g. prices, development etc.
Recently, I have noticed that some areas have stopped developing as a result of the kinds of individuals staying around such area. An area filled with retirees will most likely not attract many up and mobile young people.
6. ENSURE YOU HAVE A FAIR IDEA OF THE EXISTING RENTAL VALUE: Recently, a young fellow approached me with a fairly good amount of money he was almost going to put into another property with a rental value in the range of N2.4million per annum. I discouraged him and at the same time took him to where he got another for same price with a rental value of about N6 million per annum
My formula which I call ‘’DAVID’’ formula is that you must consider at least 8% -10% ROI [Return on Investment] for any real estate investment per annum. Without which, it is a bad investment. Be it building land etc.
7. GO UP, DON’T GO WIDE: When investing in real estate, always consider going up as against going wide. Usually, going up will come cheaper for an investor on the long run than going wide. What it means is that you may consider a two- storey building than a seven bedroom bungalow if you want a serious return on your investment.
8. ASK FOR THE PREVAILING TYPES OF PROPERTIES: Building a four bedroom duplex in an area where the demography demands is a two bedroom duplex or mini-flat may amount to tying money down for too long. In certain areas, some kinds of houses are in high demand and this should be put in consideration when planning real estate investment.
9. ENGAGE IN DIRECT LABOUR: The first kind of profit is made from the start of a project. Recently, my neighbour entered into a brawl with his Engineer over very outrageous construction cost; a case where the Engineer charged over N80 million for a job of less than N45 million!
10. TITLE! TITLE!! TITLE!!! : A property with good title documents will sell any day. In the circumstance that sale becomes difficult the Bank will most likely bail you out when the property is with the right kind of title.
David, an experienced property consultant based in Lekki, is available on: 08028550128, email: info@fkr.ng, Facebook:@fkr.ng, twitter @fkrNg and Instagram: fkr ng.
Together with her husband Dave, Melanie Dupuis has emerged as one-half of one of Canada’s most successful real estate duos. They have won several awards and been recognised for their success.
“We won the 2020 Canadian Award as Leading Expert in Real Estate Investing and solely own $20,000,000+ in real estate. We also own an award-winning Property Management company – Dupuis Properties, which has been rated numerous times Top 3 Apartment to Rent and for which we have won the 2019 Business of the Year Award,” Melanie explains.
Dave and Melanie understand the market system and after transitioning from other industries have achieved the kind of success that they could not have envisioned when they started thinking of getting into real estate. “With over 19 years’ combined experience in real estate investing, property ownership and management, we understand the ins and outs of building a business and of acquiring wealth through real estate,” Melanie says.
They want to help others also achieve the success they’ve been able to achieve. “I am dedicated to helping others create their own financial, time and geographical freedoms,” Melanie shares. “I’m a speaker and mentor throughout North America and have helped my mentees use creative and strategic financing to change their lives.”
Continuing, Melanie says: “We also started a mentoring program for those wishing to get started in the real estate industry or for those wanting to grow their real estate portfolio using none of their own money. Mentees are buying properties within the first month of joining our program and have lifetime access to our mentoring program. I was able to quit my cushy job with pension and benefits to pursue my real estate career.”
Their 2019 book, Real Estate Investing Secrets: A No-B.S. Guide to Creating Wealth & Freedom is also an instructive guide for people looking to get a crash course in the dynamics that underpin the modern real estate market.
For North Carolina-based real estate agent and broker, Amanda Williams, ownership is the most important aspect of being in the real estate business because it provides opportunities for creating multiple streams of income.
She said; “You must have ownership. No other time in modern history has provided opportunities for realtors to own property as now.”
With COVID-19 creating a global emergency, mortgage rates have tumbled to the lowest they’ve been in ages and it provides the opportunity for many to start building their investment portfolio.
Once ownership is secured (or the property is controlled correctly), Amanda advises that short-term and medium-term rentals are prioritized because of the quick turnover rate.
She also recommends that realtors use Airbnb because it is the platform at the cutting edge of cloud-based technology right now.
Presently, she is looking for other ways to help realtors take advantage of the moment. “My biggest project right now is creating my entire educational course teaching realtors what I call the HALO Method. House Hacking (How to Live for Free), Arbitrage (How to use other people’s properties to build your short term rental portfolio), Lease Options (How to “try” before you “buy”), and Owner Financing (How to structure a deal where the seller carries the mortgage and you’ll never have to worry about getting a bank loan again).”
She also adds: “I’m creating a private website for the agents in my organization where I literally hold their hand throughout the entire process of joining my team and building their legacy’s so that they too can live a Passive Income lifestyle. ” Ultimately, Amanda believes that it comes down to mindset to help achieve success in this field.
“It’s all about what you think about and there is nothing that I can’t do. When you get to that mindset, there is no limit. I could do whatever I want to do and so can anyone who is reading this blog. It’s all up here. The way that you keep that rolling is through reading the right books, taking the right courses and training. Most importantly, putting yourself in rooms, in situations with other people who are going to inspire you and push you to be a better person and a better you.”
Lagos has restated its commitment towards strengthening the Lagos State Real Estate Regulatory Authority (LASRERA) with the required legislative backing to put an end to fraudulent and unscrupulous practices in the real estate sector.
Governor Babajide Sanwo-Olu said this at The Real Estate Discussions & Awards – REDA 2020 organised by Thinkmint Nigeria, a member of the TM Group in partnership with BusinessDay.
Presentation of Lifetime Achievement Award for Leadership to The Lagos State Governor, Babajide Sanwo-olu, who was represented by the Special Adviser on Housing, Mrs. Toke Benson Awoyinka
The virtual conference was streamed LIVE across YouTube, LinkedIn & Twitter hosting 30 eminent local and international speakers from the private and public sector and over 1,000 attendees globally.
It was also the first major real estate event in Nigeria since the COVID-19 pandemic.
Participating organisations included The Federal Housing Authority; the Lagos State Real Estate Regulatory Authority; Palton Morgan Group, Periwinkle Residences, Cedarview Communications, Homework Development, Attarhi Nigeria, and LiveVend.
Sanwo-Olu, who was represented by his Special Adviser on Housing, Mrs. Toke Benson-Awoyinka, noted he was passionate about the real estate sector having successfully led the Lagos State Property Development Commission (LSDPC).
He said: “I am extremely committed to ensuring that the housing deficit being experienced in the state is a thing of the past”.
Managing Director/Chief Executive Officer of The Federal Housing Authority Senator Gbenga Ashafa said: “As stakeholders in the real estate industry, the theme of this program not only requires us to outline the changes that are taking place in our industry but also requires us to rethink our strategy and retool in order to meet the daily evolving needs of the consumers in line with global realities.”
Ashafa posited that like every other industry, the real estate sector is grappling with a painful uncertainty in the global economy, rapid technological advancements, a growing appetite for homeownership by a retiring generation of baby boomers, a sharp deviation in lifestyles and tastes by a maturing generation of millennial, the impact of an unforeseen pandemic, amongst other realities and trends.
Presentation of the award for Stand-out project of the Year in recognition of The Pacific Lagos to Emmanuel Odemayowa (MD_CEO Cavalli Business Group) (1)
He highlighted the importance of answering questions on how to manage the change in consumer preferences, as well as other emerging trends going forward, and identified the three major areas necessary for the desired change to be building, financing, and documentation.
Managing Partner at ThinkMint Nigeria, Imelda Usoro-Olaoye, stated the conference with the theme: “The real estate market, an overview of the current global changes” was to identify limitations encountered by players in the real estate market seeking global relevance.
She said it was also aimed at birth ideas that would facilitate the improved performance of the real estate industry.
Sanwo-Olu received the lifetime achievement award for leadership; Ashafa received the lifetime achievement award for excellence in recognition of his contributions to the growth of real estate; Mrs. Uzo Oshogwe, MD/CEO Afriland Properties as the Real estate woman of the year.
Brigadier General P.M. Tunde Reis, Chairman First World Communities received the award for the Real estate man of the year. MD/CEO Broll Nigeria, Bolaji Edu received the special recognition award for contributions to the industry.
Presentation of the award for Real estate woman of the year to Mrs Uzo Oshogwe (MD_CEO Afriland Properties)
Tayo Odunsi, CEO North court Real Estate received the award for the young real estate person of the year.
The Pacific Lagos by Global Property Partners, a member of the Cavalli Business Group, and The Oceanna by Palton Morgan Group received the awards for The Standout Projects of The Year. Urban Shelter Nigeria received the award for the Property Developed Company of the Year – Residential.
Purple received the award for the Property Developed Company of the Year – Commercial. The Pacific Lagos by Global Property Partners and The Oceanna by Palton Morgan Group received the awards for The Standout Projects of The Year.
Chois Estates received the award for Residential Project of the year. The Oxygen Apartment received the award of the Luxury project of the year. Northcourt real estate received the award for Real estate services company of the year and real estate advisory company of the year. Alphamead Group received the award of Facility Management Company of the Year. Spleet Africa received the award for Proptech company of the year.
All programmes and sessions of the virtual conference are available on YouTube at Thinkmint Nigeria.
When asked what he thinks is the most important step for people getting into the real estate business, Ryan Tseko has no doubts. “My biggest piece of advice is for them to get around others who are doing that business and learn from them. It is the biggest shortcut you will ever find in life,” he says.”
Ryan’s life is an example of this approach to business. From being a pilot at 18 to meeting his current boss, Grant Cardone, while serving as his pilot, Mr. Tseko has always gotten around people doing the business and offering his services to them. “I was Grant’s pilot and had already built a decent size real estate portfolio in my twenties, consisting of 21 properties,” he says. “I soon realised how small that really was and wanted to take my real estate profession to the next level. I sold all of my properties and started investing with Grant 6 years ago. Starting with $400,000 I invested in a portfolio consisting of 826 units located in Nashville Tennessee. 3.5 years later when Grants sold that portfolio that $400,000 turned into $1.2 million. As I continue to invest with Grant I have also contributed to the building of the Cardone Capital portfolio.”
He has continuously increased his participation with the Cardone Capital business, rising to the role of vice-president. “Indirect correlation to my innate management and entrepreneurial mindset, I was able to dramatically grow Cardone Capital to its current stature.
Additionally, in the last 25 months, Grant, I and the team were able to raise over $430,000,000 via Crowd Funding alone, a feat that no company or individual has ever conquered.”
According to Ryan, another important thing to note is the power of social media in helping investment opportunities: “I have been working for Grant Cardone the last seven years. I realised early on that Grant’s social media following would be a great fit and partnership for our multifamily projects.” Remarkably, the company was able to raise the $430,000,000 from Grant’s friends, family, social media followers, etc.
FIPS Multilinks, a real estate development, management, and marketing company, has launched its latest real estate development, Penfield estate, in Ibeju Lekki for residential and commercial housing projects.
Penfield Estate is a premium residential and commercial development with a C of O title located at Olomowewe town in Ibeju-Lekki, off the Lekki Coastal road neighboring the Dufil prima factory, Adron Homes’ Rehoboth Gardens and the popular Dangote Refinery in Ibeju Lekki.
The Ibeju Lekki community recently recorded massive developmental activities as Dangote Refinery sets to commence operations in early 2021 and infusion of over $221m equity funding from China Harbour Engineering Company (CHEC) in the Ibeju Lekki Deep Seaport to fast track its construction with commencement of operations billed for 2022.
With anticipation of a high influx of labour force towards the axis, property developers have begun launching residential properties as housing and investment options for potential residents and savvy investors respectively, and also commercial properties for businesses looking to set up logistics or warehousing operations within the highly industrial district.
Chief Executive Officer of FIPS Multilinks, Oladele Oluwatobi, said the company is positioning its project to attract eagle-eyed investors.
He said the project is targeted at property investors, corporate workers and companies looking to build warehouses and logistics around the axis.
He assured FIPS Multilinks is committed to providing affordable land and houses to Nigerians with verifiable titles that guarantee safe and healthy investment.
“Penfield Estate comes with a C of O and is completely free from Gov’t acquisition and any form of encumbrance.
“It is a guaranteed low-risk, high returns real estate investment and will be constructed with the integration of eco-friendly materials and to international standards,” he added.
Plots are currently available at Penfield Estate in 300sqm plot size and for 600sqm plot size with flexible payment plans for investors.
General Manager, Mr Olaide Abimbola, shared on the economic benefits the rapid development of Ibeju-Lekki has brought to neighbouring settlements like Epe and encouraged investors to take advantage of the offerings of their other estates Royalville phase 1 in Imokun town and Royalville Phase 2 Ilara.
