ABDULAZEEZ O. ENILARI

 

REASONS WHY YOU SHOULD INVEST IN REAL ESTATE

 Real estate can be a compelling investment for many reasons, but it's important to note that the suitability of any investment depends on individual circumstances and market conditions. Here are 20 reasons why you should consider real estate a good investment:

1. Potential for Appreciation: Real estate values can increase over time, potentially leading to significant returns.

2. Rental Income: Owning rental properties can provide a steady stream of income.

3. Diversification: Real estate can diversify an investment portfolio.

4. Tangible Asset: Real estate is a physical asset with intrinsic value.

5. Hedge Against Inflation: Real estate often appreciates in value during inflationary periods.

6. Tax Benefits: Investors can take advantage of tax deductions, depreciation, and other incentives.

7. Leverage: Real estate can be purchased with borrowed money, magnifying returns.

8. Cash Flow: Rental income can provide consistent cash flow.

9. Control: Investors have control over property management and decisions.

10. Equity Building: Mortgage payments gradually increase ownership stake in a property.

11. Appreciation Potential: Properties in high-demand areas may experience rapid appreciation.

12. Forced Appreciation: Investors can increase property value through renovations and improvements.

13. Long-Term Investment: Real estate is often seen as a long-term wealth-building strategy.

14. Stability: Real estate markets tend to be less volatile than stocks or cryptocurrencies.

15. Demand for Housing: Population growth sustains demand for housing.

16. Portfolio Diversification: Real estate can balance a portfolio of stocks and bonds.

17. Passive Income: Real estate investments can generate passive income streams.

18. Control Over Expenses: Investors can manage property costs and increase profitability.

19. Retirement Planning: Real estate can provide a source of retirement income.

20. Wealth Preservation: Real estate can be a way to preserve wealth for future generations.

However, real estate investment also comes with risks and challenges, including market fluctuations, property management, and illiquidity. It's essential for you to  contact a REAL ESTATE CONSULTANT to help you do a thorough search and give you proper ADVICE considering your financial goals and risk tolerance before investing in real estate. Consulting with a real estate advisor is advisable to make informed investment decisions.

For your Real Estate Advisory contract : THE OVERFLOW GLOBAL PROPERTIES & REALTORS LIMITED 

Tel/WhatsApp : 08165456551 or 008054051344

INVESTING IN NIGERIA

INVESTING IN NIGERIA: HOW PEOPLE'S OPINION ALMOST DESTROYED MY DESTINY

''Do not listen to anyone telling you to invest ooo!”

That was the voice of my mother, but I will never forget this investment experience that later saved my life.

My first Major visit to Nigeria after almost 10 years was in 2007, Banana Island and Oniru Estate were the best locations where you could find the movers and shakers of Lagos. MoHits had just released their numerous singles, ‘Why Me’ & "Pere" were my best jams.... if you weren't in 1145 or Bacchus on Friday nights, you were lost in the social scene.

I learnt everything from Aristo to Groto, the best place to eat Ofada rice and their Sunday nights had no Part 2. I was just 26years old. I had a G-Wagon and a Blue convertible MiniCooper GT. I didn’t understand the Nigerian Investment Scheme. I was naive and somewhat paranoid.

I met this developer Akin, who had a beautiful piece of land, located on a major road in Oniru Private Estate. His amazing Brochure showed that he was developing a 16 unit 3-Bedroom apartment.

“Suji, this is an opportunity of a life time, I am only giving you this chance because you speak French and we are both young. I have 16 Units and I have sold 12, grab 1 now before it is too late. For now it’s selling for 50M Naira, if you buy now, you can sell when we complete the project for 100M Naira”

It sounded too good to be true, but coming from a Venture Capital background, things like this were not strange to me. However, this young Oniru developer was too sharp for me. I was new in Lagos, and he was very persuasive. Do I trust him or not?

After spending 5 weeks in Nigeria, I had to go back to Paris. I had about 70M Naira left and I had only 2 choices: invest 50M Naira into the Oniru property or put it a Fixed Deposit and make 7% annually?

The fixed deposit was an insult on my intelligence but it was safe. The Oniru off-plan property sounded great but too risky. As a strategic risk-taker, hedging my risk on security and assurances, I took the Oniru property; after all, I had already spent more than 30M in nightclubs and on gifts for family and friends. I closed my eyes, paid Akin the 25M and gave him post-dated Cheques for 10M and 15M Naira, tied to milestones.

My Mum nearly fainted when she heard.

‘Ajaniogunnnn!!! You have given money to a thief!!!’

My aunty, my friends, my brother, everyone told me I was stupid; that the Developer will use my money to drink Champagne in Groto, but I trusted the Developer and I loved the project. My heart was beating fast but my conscience told me I did the right thing. People talk nonsense about things they don’t understand.

1 year after, no apartment, no house, Akin's phones were switched off!

‘Chaiiii!!!! This guy has finished me! Should I contact EFCC and SFU? I want my money back.”

Then, One beautiful summer of 2009, Akin called me:

“Mr Suji, sorry I have been away. I lost my mum but all is good. I am back now and your property will be ready in 8months. If you want your money back, I can send it to you in 3 Months.”

I was confused but I trusted the voice in my head. I allowed him to go ahead with the building and in 7 months, I received a nice 3 Bedroom with 1 BQ and 2 car parks.

Unfortunately for me, 2009 was a rough year, the international economic recession had affected my business and I was in dire need of money and sold my apartment for 105M Naira. This saved my life. What looked like failure became a fortune. I changed this money to Euros, revamped my business and compounded that money INTO MILLIONS which became the foundation on which I started Sujimoto construction in 2014.

Written by

Sijibomi Ogundele
MD/CEO SujiMoto

#business #investment #realestate #intelligence #lagos #nigeria #theoverflowproperties #abdulazeezoenilari

STAMP DUTY ON RENT AND C OF O.

The Federal Inland Revenue Service (FIRS) has said that stamp duty will now be paid on house rent and certificate of occupancy (C of O) in Nigeria.

The revenue service also urged residents to ensure that rent or lease documents and C of O are subject to authentication with the new FIRS adhesive stamp duty.

Abdullahi Ahmad, director of FIRS communications and liaison department, said this is necessary to give the instruments the force of law and make them legally binding on all parties involved in the transactions.

Mr Ahmad said the new FIRS adhesive stamp was introduced at the official inauguration of the inter-ministerial committee on audit and recovery of back years stamp duties.

The FIRS spokesperson quoted Muhammad Nami, the FIRS executive chairman, as saying that the chargeable transactions under the stamp duties act as amended in the Finance Act 2019 are in two categories – fixed duty instruments and ad-valorem instruments”.

He said: “The following are the chargeable transactions in the fixed duty instruments category, power of attorney (PoA), certificate of occupancy (C of O), proxy form; appointment of receiver, memorandum of understanding (MoU), joint venture agreements (JVA), guarantor’s form, and ordinary agreements receipts.

“While ad-valorem instruments chargeable under the stamp duties act are deed of assignment, sales agreement, legal mortgage or debentures, tenancy or lease agreement, insurance policies, contract agreements, vending agreement, promissory notes, charter-party and contract notes.

“Stamp duty is basically charged in two forms, either ad valorem where duty payable is a percentage of the consideration on an instrument or a fixed sum irrespective of the consideration on dutiable instrument or document.”

The FIRS advised Nigerians to ensure that all the listed instruments contain the new FIRS adhesive stamp affixed or stamped on them as this would legalise such instruments.

PREMIUM TIMES reported how the revenue agency said it generated the sum of N66 billion from stamp duties between January and May.

READ ALSO: NIGERIAN GOVT SETS N1 TRILLION STAMP DUTY TARGET

Mr Nami said the money realised in the first five months of the year from stamp duties represented about 1,000 per cent increase.

He stated that the increment was unprecedented when compared to six billion naira collected from January to May 2019.

The FIRS boss attributed this increase to the dynamism triggered by Finance Act 2019, sums warehoused by the CBN in respect of prior years and the deployment of technology as well as stakeholders’ collaboration.

Your right as a Landlord

YOUR RIGHTS AS A LANDLORD.

A landlord is the owner of a premises or the holder of the reversionary interest in the property. This means that at the expiration of every tenancy, the right to possession and ownership of the said premises goes back to the landlord. Individuals own property for a number of reasons one of which is for passive income or as an investment as such, they let such properties out to tenants in exchange of rent. The rights a landlord has include:

1. Right to receive rent: A landlord has the right to receive regular and periodic rent form the tenant for the use and occupation of his premises. Rents can be collected weekly, monthly, quarterly, half-yearly and annually as agreed by the landlord and tenant. However, the manner by which the rent is collected determines the period of notice to which the tenant is entitled to.

2. Right to reasonable periodic inspection of the demised premises: The landlord is permitted by law to enter into the demised premises to carry out routine checks on the manner in which the demised premises is being used. However, before such checks, sufficient notice has to be given to the tenant in the manner stipulated in the tenancy agreement.

3.  Right to lawfully eject a tenant: A landlord has the right to lawfully eject a tenant whose tenancy has been determined in accordance to the Tenancy Agreement or by operation of law. To lawfully eject a tenant, the appropriate notices has to be given in accordance to the law before proceeding to the law court. It is illegal to use self-help by inviting thugs or “Area-boys” to assist in ejecting a tenant. One can be liable for the crime disruption of public peace and criminal assault among others.

4. Right to review rent: A landlord has the right to review his rent upward (and sometimes, in the face of economic realities like economic meltdown, downwards). Such rent reviews have to take cognizance of the prevailing rate in the area and the special circumstances of the property so that they are not viewed as arbitrary or unreasonable.

5.  Right to compensation from compulsory acquisition: The governor of the state by virtue of the Land Use Act has the right to compulsorily acquire properties within the state for “overriding public purposes”. However, whenever such occurs, the landlord has the right to be given compensation by the state government for the unexhausted improvements he has made on the land.
#theoverflowproperties #abdulazeezoenilari

7#abdulazeezenilari #realestateagent #yourrightasalandloard #realestateadvisory #realestateacquisition #propertyacquisition

Secure the future of you children

*Damn! It sent some shivers down my spine.*

Zig Ziglar once said, "People often say motivation doesn't last, that's why I recommend a daily dose of it."

In like manner, a consistent dose of real estate investment is recommended if you want to be free from financial pressure. 

*Something happened today.*

And I will share it with you soon.

Today, someone posted on Twitter celebrating her parents for buying their 7th home.

She then went on to boast that her parents are just another home away from being able to leave her and her siblings their individual rental properties. 

*Damn! It sent some shivers down my spine.*

*Do you know what that means?*

It shows that her parents truly care about their future.

It tells that they are willing to go that far in ensuring that their today and tomorrow is fully secured. 

It also means that they want their children to never have to run to any uncle or family member while they are gone.

*THAT'S SERIOUS WISDOM* right there!!

I began to ask myself, Am I doing enough for my unborn kids?

Am I spending and investing money the right way?

Will my kids boast of me a few years from now that the choice to invest in real estate and own properties helped secure their future?

It'd be selfish of me to call myself successful if that's not passed on to my kids and if their future is not secured today.

THE NOOKS ESTATE EPE

Biodun has been my friend for the past 10years now, and I must say she's a woman of great quality and taste.

She's the kind of woman any man would want to keep forever.

*But guess what?*

She's married to Kola, a true definition of an OLIVER TWIST.

He's the kind of man that would request for stew on top of his jollof rice.

*Can you imagine?*

Who does that in this time and age?

Like seriously, who?

But to be honest, he still has his good sides.

Last week, I spoke with Biodun about our new property which we recently launched at EPE, known as *THE NOOK*.

She was like

What about the other land we purchased at THE ENCLAVE EPE.

But I told her she won't lose anything if she acquires more lands. Owning more lands would be to her benefit.

So, we scheduled an inspection to site and of course, her husband came with her.

When we got to *THE NOOK*.

Imagine what happened next?

That OLIVER TWIST nature of asking for more came out of him from nowhere.

Their initial plan was to buy 2 plots but on getting to site, Kola found out that the land was not just in a serene environment but that we are offering
a 20% discount on every plot which is *₦2million.*

As we already know Kola's nature, He decided to buy more.

*THE NOOK* is an affordable piece of luxury located in Epe.

A place that will turn out to be the next destination of the elites in Lagos.

That you will call Home.

It is covered with a *Gazzette* as the root title.

A plot of land measuring *600sqm* sells at *₦2million* and you can also get *300sqm* plot for *₦1million*.

People are already positioning themselves in Epe and 5years from now you will find yourself in Epe because that's where you will find your target clients.

Don't wait to be told what will happen in the next 24 months.

If I were you, I'll call 08165456551/08054051344 to schedule a free site inspection.
#lagosproperties #theoverflowproperties #abdulazeezoenilari #abdulazeezenilari #thenooks