I was looking to buy an apartment early this year, and my major problem was with the documentation ownership structure and the fact i have to be paying a recurring service charge that's practically the cost of my yearly rent in Ago palace way... It just didnt make any sense to me.... I just told my wife let's keep renting for now pending when i build a financial portfolio to just own rental properties in good locations and then we can move to a state or country for our retirement....
The speaker shares his insights on the real estate industry in Nigeria, highlighting the challenges and opportunities. He emphasizes the importance of financial planning and strategic investment over simply owning a home. Key moments: 00:00 Many people buy properties due to parental prayers, spousal pressure, and the desire to escape renting. The speaker shares insights on trust, bank loans, and personal experiences in the real estate industry. -The speaker discusses the influence of family and societal expectations on property purchases, highlighting the role of spousal pressure and financial motivations. -Insights on building trust with banks for loans and the speaker's personal journey in navigating challenges and opportunities in the real estate market. -The speaker shares experiences of starting a real estate company, facing entry barriers, and adapting to market dynamics and technological limitations. 05:05 Facing challenges in a real estate project, the speaker had to navigate government changes, financial setbacks, and pressure to succeed, leading to personal sacrifices and strategic decisions. -Navigating government changes in real estate regulations and licensing processes can significantly impact project timelines and financial investments. -Overcoming financial setbacks by borrowing money, strategizing with agents, and negotiating contracts showcases the speaker's resilience and determination in the face of adversity. -Balancing personal sacrifices, financial risks, and pressure to succeed in a challenging real estate venture highlights the speaker's perseverance and strategic thinking in achieving project goals. 10:09 The speaker shares their experience with banks and real estate investments, highlighting the challenges faced in obtaining loans and the importance of trust in business relationships. -The speaker discusses the initial challenges faced when banks closed early, leading to the start of a significant financial endeavor. -The speaker reflects on the reluctance of banks to provide loans for real estate investments, emphasizing the need for trust and understanding in financial partnerships. 15:12 Real estate investments should be strategic to avoid financial pitfalls. Buying a house solely for personal use may not always be financially prudent, considering potential rental income and investment opportunities. -Importance of having a buyer before starting a real estate project to secure finances. Off-plan projects require a buyer before production begins. -Advice on strategic real estate investments, such as buying properties for rental income and partnering with others for profitable ventures. 20:14 Owning a house should be a strategic financial decision, focusing on generating income rather than personal use, to build wealth and financial security for the future. -Emphasizing the importance of building capital through business before investing in a house for personal use to avoid financial liabilities. -Highlighting the financial risks associated with borrowing money to buy a house and the importance of having a solid financial foundation to sustain unexpected events. -Encouraging the younger generation to invest in income-producing properties rather than relying on property appreciation, considering inflation rates and financial stability. 25:16 The speaker emphasizes the importance of building a house that aligns with personal enjoyment and values, rather than just for show or status, highlighting the significance of owning property that yields financial returns. -Choosing to build a house that brings joy and aligns with personal values is prioritized over building for status or societal expectations. -Emphasizing the importance of owning property that generates financial returns and the distinction between affording a house and building one without stress. -Discussing the desire to build a house for individuals like Elon Musk and Mr. Eazi, highlighting the importance of being inspired by individuals who challenge norms and push boundaries
Bottomline - (Don't spent your scarce resources on liabilities). What are liabilities? Liabilities are products you spend on that don't make you money.
I stumbled on this video. Mr Akeem thank you. You are such a selfless person, a goal getter, and most of all I humble. Its a privilege working for you 🙌🙌🙌🙌🙌🙌🙌🙌🙌🙌
Wow, you really went through a lot before you become established. But glory be to God you came out strong. This is an inspiration to young business owners not necessary real estate. Thank you
Real Estate investment is not as easy as people say it is. With the right real estate investment advice, one can strike gold. Albert & Wand can provide the best real estate advisory service.
I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN...I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED... CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?
The first foreign language " I love you" was Chinese, and the second was either Russian or Kazak. Now, would you please check out "Ikanaide"? This was live-streamed for the Tokyo Jazz Festival due to Covid restrictions. It is simply beautiful. I live in the US and I am a 73 yr. old grandmother. Thank you.
Before you put a content on RU-vid or any other social platform cut out the unnecessary part. Don't you people watch contents made by others? This is 2022 for goodness sake! Edit the videos and make straight to the point.
You have spoke well except on the fact that one should not buy house because that person becomes a liability to the house. we do need home and freedom for our family, so it is fine to own a house especially if you are married and have family.
Thank you !! Fantastic interview with Akeem. He is a very interesting and impressive guy. I most admire that he was willing to tell the truth that most people profiting from real estate will not say. What a gem
Underrated piece of content 🔥 Some truth I’ve been speaking even though I’m not fully vested into the Real Estate space; Still schooling though but this is a great speech most Nigerians need to listen to.
Honestly sir you speak it all ..Real Estate is real and lots of disappointment and junks but the last man stand and keeps my faith till now ...Yet I keep moving
