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Starting your own real estate business is a good carrier option that comes with a lot of difficulties and challenges. The market is a well established one with tough competition from numerous new and established players. However, do not be intimidated by the competition rather focus on building a unique brand that stands out amongst the rest.
*What is Real Estate?*
Real estate is a property (consisting of land or buildings) or a huge collection of properties.
On the other side, real estate business is the process of buying, selling or renting a property, building, home or land.
Real estate agents assist homeowners, businesses and investors buy and sell all four types of properties.
The real estate business can be divided into further parts like loan servicing, residential and commercial properties etc. Examples of residential real estate include undeveloped land, houses, condominiums, and townhouses; examples of commercial real estate are office buildings, warehouses, and retail store buildings; and examples of industrial real estate include factories, mines, and farms.
Nigerians are always in need of residential apartments, office building, and commercial outlets. They look to either buy or rent buildings and structures of their choice, and they sometimes need to consult real estate agent or expert before making their choices.
*How to start a Real Estate Business?*
However, In order to be successful in this industry, one should have good knowledge and information in this field. This basic guide will equip you with the knowledge and information you need to acquire to start your own very successful real estate business in Nigeria.
1. *Have a strategic business plan:*
You need to strategically plan your business to be able to conquer this market. Real estate investing is just like starting any other career in which you can’t start on a whim without having a specific business plan in mind.
A business plan is vital for any real estate investor, and one of the best advice you’ll get in the housing market is to start out small and plan, plan, plan! This step is especially important if you’re planning on becoming a real estate investor for the long term. In this case, you want to grow your real estate investment portfolio strategically.
2. *Build a unique brand:*
Brand credibility is important in building a successful business in Nigeria especially when it has to do with the investment of millions of Naira. Branding is all about creating a perception about your business in the minds of people.
To turn your real estate business into a trustworthy brand, you need to give your customers more than enough value for their money and build a relationship by engaging with them on a personal level. Also, set your real estate business apart from the competition by investing in premium branding identities such as logo, website, adverts and more.
3. *Legally register the business:*
If you really want to make this business to the highest level possible, then you have to legalize its existence by registering the business with the Corporate Affairs Commission (CAC). Registering as a Business Name with CAC is enough at this stage if you can’t afford to register it as a Limited Liability Company (LLC).
Also, watch out for the rules and regulations guiding professional real estate bodies in Nigeria to ensure that you are not operating against the law. Some of the popular real estate professional institutions to watch out for include; Association of Estate Agents in Nigeria (AEAN), Real Estate Developers Association of Nigeria (REDAN) and Nigerian Institution of Estate Surveyors and Valuers (NIESV).
4. *Raise the required capital to start:*
If you did your business plan research well you must have known the minimum amount of money it will require to get you started depending on the scale at which you choose to start. If your savings and financial capacity are not enough to start, you can source for alternative funding.
Real estate business is very capital intensive and requires a huge amount of investment. If you do not have enough it is important that you seek investors. You can look for equity investors that can give you enough leverage at the start and accelerate growth.
5. *Get Started & Get Working:*
The last step to starting a real estate holding company is execution. Execute on everything that you’ve developed in your business plan. A good number of Nigerian businesses fail due to very poor execution. Execution comprises of your day to day activities in the business. This includes the closing of deals, marketing, networking, client orientation, human resources etc.
Starting a real estate business ain’t for the faint of heart. So, to be successful in the real estate business, you must be prepared to face the challenges. At a personal level, and as a business owner, nurture your ambitions and become a goal-oriented and organized person. Keep in mind that the real estate sector is not about achieving instant success. Instead, it is a long game, which requires a lot of patience.
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A Survey plan is a document that measures the boundary of a parcel of land to give an accurate measurement and description of that land. The people that handle survey issues are Surveyors and they are regulated by the office of the Surveyor-general in Lagos as it relates to survey issues in Lagos. A survey plan must contain the following information:
1. The name of the owner of the land surveyed
2. The Address or description of the land surveyed
3. The size of the land surveyed
4. The drawn out portion of the land survey and mapped out on the survey plan document
5. The beacon numbers
6. The surveyor who drew up the survey plan and the date it was drawn up
7. A stamp showing the land is either free from Government acquisition or not
Land Use Decree on the 28th of March, 1978 that vested all lands in every state of the Federation under the control of the State Governors. The Land Use Act coupled with other laws made it possible for the Governor who was now the owner of all lands in the state to actually have the power to Acquire more lands compulsorily for its own public purpose to provide amenities for the greater good of the citizens.
Fortunately, the government recognizes that indigenes of different sections of the country have a right to existence . . . a right to the land of their birth. Hence, it is customary for state government to cede a portion of land to the original owners (natives) of each area.
An Excision means basically taking a part from a whole and that part that has been excised, will be recorded and documented in the official government gazette of that state. In other words, not having an excision means the land could be seized by the Government anytime without compensating you even if you bought it “Legitimately” from the Baal or the Original dwellers on the land.
A Deed of Assignment is an Agreement between the Seller of a Land or Property and a Buyer of that Land or property showing evidence that the Seller has transferred all his rights, his title, his interest and ownership of that land to the Seller that has just bought land.
The Deed of Assignment has been exchanged between both parties, it has to be recorded in the land registry to show legal proof that the land has exchanged hands and the public should be aware of the transaction. Such recorded Deed of Assignment come in the form of either a Governor’s Consent or Registered Conveyance.
A Gazette is an Official record book where all special government details are spelt out, detailed and recorded
A gazette will show the communities or villages that have been granted excision and the number of acres or hectares of land that the government has given to them. It is within those excised acres or hectares that the traditional family is entitled to sell its lands to the public and not anything outside those hectares of land given or excised to them.
A Gazette is a very powerful instrument the community owns and can replace a Certificate of Occupancy to grant title to the Villagers. A community owning a gazette can only sell lands to an individual within those lands that have been excised to them and the community or family head of that land has the right to sign your documents for you if you purchase lands within those excised acres or hectares of land.
If the government based on some reasons best known to them decides to revoke or acquire your land, you will be entitled to compensation as long as it’s within the Excised lands given to that community.
The best way to know whether a land is under acquisition or has an excision that has been covered by a Gazette is to get a surveyor to chart the site and take it to the surveyor general’s office to do a land information analysis to confirm whether it falls within the gazette and spell out which particular location it can be found.
A Certificate of Occupancy (C. of O.) issued by the Lagos State Government officially leases Lagos land to you, the applicant, for 99 yrs. As already indicated above, all lands belong to the Government.
A C of O, however, is the officially recognized Document for demonstrating Right to a Land.
What happens after 99 years? That question is still subject to debate among experts. Most have adopted a wait-and-see attitude. Others postulate that as the new owner of the land, you the buyer can renew the certificate of occupancy when it expires. That makes sense, but for now is largely a case of “We shall see when we get there”
Most people who purchase land in Lagos and elsewhere don’t really understand the meaning of these Real Estate terms. As a potential buyer wishing to buy a land or build a new house you must be conversant with a few of these figures. The first hurdle is to understand the system of Land measurement in Nigeria.
In Nigeria today, Land is measured in Hectares, Acres, Meters and Feet. These measurements are affected by factors, which include development pattern, human and environmental factors.
Let’s start by asking what is the size of a standard plot in Nigeria?
According to the dictionary meaning of a plot: _A plot is a marked out piece of Land_ for the purpose of building or farming. The word ‘plot’ is an arbitrary term used to describe a land division carved out for property development.
The size of a plot can vary for different reasons but according to Nigeria’s land division, the appropriate plot for a house construction is 50 x 100ft which can accommodate a standard house with a small compound. To better understand land divisions used in Nigeria, different units of area are used as follows:
A hectare is one of the least known metric units and one which potential buyers and Estate developers seem to struggle with –
It is a land measuring:
-100m x 100m OR
-328ft x 328ft OR
-10,000 sqm OR
-Two and half acres OR
-15 plots.
An Acre is a standard unit of measurement used by Land sellers and it is almost equivalent to the size of a standard football field. An Acre is a product of any rectangular plot of land giving a total of:
– 4,046sqm OR
– 43,560 sq ft OR
– 6 plots (each measuring 60ft x 120ft)
In Lagos State, the standard size of a plot is 60ft x 120ft (18m x 36m i.e. 648 sqm), while in some other cities of the country, plots are measured in 50ft x 100ft.
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Government To Open Ibeju Lekki For Development

Lagos State Government has unveiled plans to open new towns in Ito-Omu and its adjoining communities in Ibeju-Lekki Local Council Development Area (LCDA), to fast track development.

The Acting General Manager of New Towns Development Authority (NTDA), Olakunle Aboyeji, speaking at a stakeholders’ meeting with residents of the communities, including representatives of the monarchs, said Governor Babajide Sanwo-Olu had approved the development of new towns within Ito-Omu and its adjoining communities, to raise the status of the area.

He added that the meeting was necessary to inform stakeholders of government’s presence in their communities and seek their cooperation for the success of the project.

Aboyeji told the residents that the government meant well for them.

The Permanent Secretary, Lands Bureau, Mr. Bode Agoro, allayed the residents’ fear of being exploited by the government.

He assured them of government’s cooperation and partnership in the development of the area.

The Surveyor-General, Olutomi Sangowawa, said: “This is going to be the beginning of new things to happen in the communities.”

He said the mistakes of the past while creating new towns would be avoided if the residents worked with the government officials to bring in the needed expertise for the development.

The representative of the Oba of Ito-Omu, Akogun Fatai Kosoko, said the exercise was long overdue “as only Ito-Omu and its adjoining communities that are yet to be developed and connected to the main  network of roads coming into Ibeju Lekki and Epe axis.”

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Understanding Vat & Witholding Tax

Let’s face it: No one likes paying tax and this is exactly why taxes are one of the last things on the to do list of most businesses until they are visited by tax officials. Before the Finance Bill 2019, every business was mandated to have a Tax Identification Number (TIN) before opening a Bank account, but the bill now includes a requirement for Banks to request for Individual Tax Identification Number which would further expand the tax net considerably, therefore understanding the different types of taxes, rates and available deductions should now be an essential for both individuals and businesses.

Two very important types of tax in Nigeria are Value Added Tax (VAT) and Withholding Tax (WHT) and my emphasis today is the meaning and applicability of these taxes to your business.

Withholding Tax

Withholding tax is basically an advance and indirect source of taxation deducted at source from the invoices of the tax payer. WHT is not really a distinct tax type and therefore has no legislation of its own. It is only a mechanism for the collection of other taxes. Consequently, its application is provided for in the enabling law of other tax types i.e. Section 81 of the Company Income Tax Act or Section 13 of the Value Added Tax Act. The main purpose of WHT is to capture as much tax payers that may have evaded tax into the tax net and the rate is usually 5%-10% depending on the type of transaction.

WHT is used mainly for transactions involving contract of purchase e.g. When a company or individual supplies goods or services to another company an invoice will usually be issued as evidence of a transaction.

The WHT system in Nigeria is regulated by both Federal and State Inland Revenue Services.

Value Added Tax

VAT is a consumption tax payable on the goods and service consumed by any person whether government agencies, business organizations or individuals. The target of VAT is consumption of goods and services and unless an item is specifically exempted by law, the consumer is liable to the tax.

The standard rate of tax has now been raised to 7.5% of invoice value of goods and services although companies with an annual turnover of N25 million (approx. US$69,000) or less would be exempt from VAT registration and filing obligations.

The VAT system in Nigeria is administered by the Federal Inland Revenue Service (FIRS). All existing manufacturers, distributors, importers and suppliers of goods and services are required to register for VAT. The prospective VAT payer will obtain and complete VAT registration (and return it to the nearest FIRS Tax Office. A permanent VAT registration number is then issued to the tax payer.

Goods Exempted from VAT include Medical and Pharmaceutical Products; Basic food items; Books and educational materials; Newspapers and magazines; Baby products; Commercial vehicles and their spare parts, and Agricultural equipment and products and veterinary medicine;

Services Exempted from VAT include Medical Services; Services rendered by Community Banks, Peoples Banks and Mortgage Institutions; and Plays and performances conducted by educational institutions as part of learning.

The tax is collected on behalf of the Government by businesses and organizations which have registered with the Federal Inland Revenue Services (FIRS) for VAT purposes, and who are now required to make monthly returns to the Government.


To illustrate these type of taxes better we will use an example Nairametrics.

Jideowo Ltd is a supplier of printing and stationery and got a contract to supply stationery to MoMoney Ltd for an invoice value of N100,000. Being a Vatable item, JideOwo Ltd adds a 5% VAT to the contract sum bringing the total amount to N105,000.

Upon receiving this invoice, the accounts department of MoMoney deduct 5% WHT from the invoice and schedule a payment of N100,000 in favor of Jideowo Ltd. They then remit the deducted N5,000 to the Federal Inland Revenue Service and obtain a withholding tax credit note which they should give to authorized representatives of Jideowo Ltd.

Jideowo Ltd upon receiving the payment of N100,000 and Tax credit note of N5,000 will remit a sum of N5,000 to the Federal Inland Revenue as value added tax on the transaction. They will then show the FIRS the WHT credit note of N5,000 which can be used to set-off against future company income taxes.

Break-down of payment (who gets what in cash).

Invoice amount – N105, 000
FIRS    (VAT)      – N5,000
FIRS (WHT)        – N5,000
Jideowo  Ltd    – N95,000

Tax evasion is a crime that involves an individual or business intentionally avoiding payment of tax. Those caught evading taxes are generally subject to criminal charges and substantial penalties. On the other hand Tax avoidance is the legal usage of the tax regime to one’s own advantage to reduce the amount of tax that is payable by means that are within the law. Tax avoidance is perfectly legal.

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BeachFront Ph2 : New Release for all our investors

Beachfront phase 2 has just been released. With the massive success of Phase 1, the developers decided to expand this opportunity to more savvy investors looking to secure a real estate by the beach.


Queen’s Garden Estate

Eleko Beach

Pan Atlantic University

Lekki Free Trade Zone

Dangote Refinery

The Proposed International Airport

Beachfront Estate ph2 is certain to go fast.!!!

Secure yours today by contacting us at info@globalafricaninvestorsalliance.com


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Introduction to the NSE (Nigerian Stock Exchange) with Icon Stockbrokers

Introduction to the NSE (Nigerian Stock Exchange) with Icon Stockbrokers GAIA has partnered with Iconstockbrokers for those who are looking to investment in the Nigerian stock market. Iconstockbrokers Icon Stockbrokers Limited was incorporated on 30th June 1962 under the name “ICON NOMINEES LIMITED”. The company’s name was changed in 1973 to Icon Stockbrokers limited.

The wealth of experience and expertise are reflected in Icon Stockbrokers Limited’s wide range of financial services, which are tailor-made to meet customers’ financial and investment needs. Services include: Stockbroking Portfolio Management Services Investment advisory Services Consultancy Services Overseas Correspondent


Contact us today: Gaia@iconstockbrokersltd.com


Link: https://globalafricaninvestorsalliance.com/nigerian-stock-market/


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Investing in Ghana With Dropzonn

Investing In Ghana can be tricky but dealing with the right agent can save you money and time. GAIA has now partnered with Dropzonn to bring to our investors genuine real estates in Ghana for high ROI and rental income. You can visit our website ekaabo.africa for full list of properties for sale in Ghana and Nigeria. Email us: info@stakpropertyinvestors.co.uk


TY  Video Link: https://www.youtube.com/watch?v=DqVFWAVQxDM

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The Cons Of Buying Omo-Onile Land!!!

2. Omonile Lands are owned by either Families or people who bought lands from the families. Either way, till you complete your house, you must have a relationship with these families good or bad till the very end.
3. Most omonile lands have one issue or the other associated with them such as land dispute cases, family dispute cases, resale of another person’s land, buying lands that belong to the government etc hence the need to conduct due diligence on them before you buy.
4. You pay for everything such as your own survey fees, legal fees, agency fees, omonile signing fees, foundation fees, roofing fees, drainage, Nepa etc.
5. Even when you do everything right such as conducting due diligence, buying from the right person and paying all the necessary fees, you still have to build a fence to ward off criminals and trespassers from stealing your land.
6. Until you complete your house you must always be vigilant to check on your land. Any form of complacency or negligence would only lead to criminals reselling your land
7. You would have to put up with annoying agents throughout the Inspection and negotiating experience
8. Buying an Omonile Land means you have to be tough and take no nonsense unless these miscreants would rob you off your land.
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10 Reasons to Invest In Abeokuta

10 Reasons why you should invest in landed properties especially in Abeokuta in 2020
1. The fast rate of infrastructural development in the city means the value of landed properties are projected to go up astronomically.
2. The increase influx of people into the city due to the overcrowding of Lagos and proximity
3. Buying a landed property is a way of acquiring liquid asset which could be easily traded for money in case of emergencies.
4. Abeokuta land are 100% dry lands
5. Land is an asset whose value never decreases. So owning land means you having good asset base.
6. Buying a land is your first step to building your house. So it’s good to start now.
7. Investing in landed property is investing in real and tangible asset that will always be there forever.
8. All billionaires and rich people today have real estate as one of the corner stone of their wealth building strategy.
9. Inflation devalues your money saved in the bank, but when you buy a landed property, the value of your
money is protected from inflation.
10. If you don’t make the sacrifice now and take action, it might become a regrettable action in the future because the best time to buy a landed property was yesterday.
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