What is Land Flipping?
Land flipping is a type of real-estate investment that involves buying lands at a low price and selling at higher prices to make huge profits. This type of real-estate investment is profitable when you buy land in an area that’s rapidly developing. You can make up to 300% on your investment in a few months or in some cases a few years.
5 Powerful Reasons Why You Should Start Land Flipping Today
1. Capital Appreciation of Land
The value of land increases steadily unlike some other forms of investments charaterised by frequent flunctuations. Depending on the location in Lagos, for instance, the value of a land can appreciate by more than 30% in 12 months. Some premuim locations like Lekki Phase 1 can see a piece of land appreciate by over 500% in a few years.
So investing in lands is the surest way to get the higest ROI in the shortest possible time.
2. Lower Maintenance Cost
Lands are easy to maintain compared to other forms of real estate such as apartment buildings, which you would have to always renovate to maintain the value of the property. With lands, you can just let it sit fallow for as long as you want without spending much in maintenance cost and it will still appreciate in value.
3. Ease of Managing The Investment
One of the downsides of other forms of real-estate investments like rental properties is dealing with tenants, tax issues and other issues associated with maintaining buildings. We all know the stress that property owners face when it comes to relationships with tenants, government, etc. One bad tenant could cause a landlord to incur unnecessary expenses or deal with delayed payments. Flipping lands cut off all these contingencies. Plus, it’s easier to sell lands.
4. Ease of Sale
With lands, there’s relatively no need for special effects pictures or need much advertisement before selling the land. All you need is buy land in a fast developing area and wait for buyers to come knocking at your door, plus it’s easier not to have any emotional attachments on lands. It’s possible to resell land without the help of a realtor. You can take advantage of the many websites available to get the deal closed from the comfort of your room. The simplicity and stability that comes with owning the right piece of land, bought at the reasonable price, surpasses a wide range of problems that come with other forms of problems involved in other types of real-estate investments.
How to Become a Smart Land Flipper
A smart land flipper is an expert in spotting lands with potential, mostly from within developing areas, sold at very cheap prices but can appreciate in value over a short period of time when he sells to make huge profits.
Some areas are already developed and lands there have reached their peak values. A smart land flipper rather chooses to buy from areas with a potential for high appreciation. Examples of places like that in Lagos include Ibeju Lekki. Outside of Lagos, the same strategy applies. In Aba, for instance, you can get cheap lands from Lighthouse Courts selling at 6000/sqm now which will obviously increase in value in a few months time.
Steps to Becoming a Smart Flipper
1. Research thoroughly. Pick out areas that are rapidly developing or have the potential to develop in future. Depending on the location and economic viability, certain areas developing faster than others. If you’re opportuned to acquire land in a more developed area at a fair price, go for it. More developed areas are the easiest to flip in a couple of months and earn profits compared to developing areas. Developing areas may require a couple of years to fully appreciate.
2. Ensure that the seller is the rightful owner of the land and has complete land documents including a Certificate of Occupancy or a Governor’s Consent. Avoid lands with inconclusive land titles like Excision in Process or Gazettes. Since you’re reselling, you must avoid getting caught up in land title issues. Go for clear, genuine lands with the appropriate land titles.
3. If you’ve secured the perfect land at an ideal location, do some work on the land. Clear the land, create a path or road to the land. Get a surveyor to get the area marked and craft a brilliant description of the area; highlighting advantages to cajole a potential buyer to opt in.
4. Advertise Your Land. If you cannot write professionally, employ the services of experts in the field and then, run adverts on the land, utilizing the numerous social media sites and other forms of advertisement.
5. Avoid getting attached to any property, so it’s easy to let go and sell to someone else. Always keep in mind that it is business, and you’re out to make a profit.
Conclusion
Take out some time and browse through the listed properties in Nigeria on our website and start you business of land flipping today. If you need advise on the best deal for you, you can reach us through the contact of the agent in charge of that property.
To you ultimate success!