Interested in venturing into the Real Estate Business? Business plan tips for Starters.

Real estate investment in Nigeria has taken a positive trend compared to other business investments. There are many advantages of real estate investment compared to other investments. Income from investment in a property is the rental income or returns on outright sale.

Having your property at strategic locations like city centers, commercial areas, high brow areas, near universities, close to the airport etc, the rental income or return on sales will be quite substantial and the profits will be quicker.

It has also been observed that rental incomes appreciate annually especially in areas where there is quick development,Hence, the property owner is protected against inflationary trends with the receipt of increased rental incomes from real estate investment, which acts as a cushion against mortgage payment which will not undergo a change due to inflation.

Property investment or real estate investment appreciates over and over again and as  mortgage amounts are paid off, the equity value of your real estate investment will be increasing. This can be utilized by taking a loan equivalent to the equity value of the property from a financial institution.

This business is highly lucrative, but must be entered into with caution. Choose the properties that are certain to appreciate and further, the properties must have a clear title. If you patiently search, you are sure to clinch such deals. Notwithstanding some small loopholes like property investment scammers, a real estate investment in Nigeria is one of the wisest investments that can get you many advantages on the financial front.

To venture into the real estate business as a start-up, do you want to be a financial investor, a property/real estate developer, or a real estate agent? Whatever position you decide to take, here are just a few tips to guide you and get you started;

1. Create a business plan.

2. Know your target market ie residential, commercial etc

3. Identify the facilities and services your property should have, to meet the needs of your target market/occupants.

3. Draw up your budget and costing plans.

4. Identify your source of financing ie private and equity investors, mortgage facilities, project financing sources etc

5. Carry out a thorough financial analysis to determine your profit and cashflow indices and payback period on mortgages and loans.

6. Carry out a feasibility study to determine the factors that would drive long term continued profitability on your property business, and optimize those factors.

7. Identify the risk indicators to your investment. Getting advice and consultancy services from experts in the property business to advice you on a number of options and how to carry out your business plan successfully with minimal risk factors.

The Millenial Generation Trends and The Strategic Positioning of Real Estate Business

In this age of digital revolution, the E- and I- savvy, smartphone and device craze, social media ie facebook, twitter, pinterest, youtube, linkedin, instagram, blackberry, whatsapp obsession, easy and quick means to access and share information via multiple E- platforms.
Real estate businesses should be positioned to have an engaging and active on-line presence to attract targeted clients, fans and audience. A large untapped market exists for real estate businesses, which can only be reached via positioning your business to be accessed on-line.
Today's real estate business should not just be dependent on 'word of mouth' promotions, referals and notifying close contacts, family, friends, co-workers etc.

These strategic approaches listed below if harnessed optimally will draw targeted audience, clients, buyers, investors and more to your business.
1. Host a website for your real estate business. Hosting your business website is a major online essential and cannot be overlooked. Your website is your online domain and basically tells visitors about you and your business, and what you have to offer.
2. Develop and build online social networks and contacts ie facebook friends and fans, linkedin connections, twitter followers, google + contacts, etc. start by creating your company page on any of these platforms and inviting contacts from existing clients, friends etc and then gradually expanding to targeted new clients and contacts.
3. Linking your social media profiles to your real estate website to help spread the word about your real estate business.
4. Engaging your online social media audience using online press releases, online reviews, news and information from events and trends in the real estate industry, information about your new properties etc.
5. Creating graphics of your properties and posting them on all your online profiles.
6. Have a mobile friendly website. A large number of your online prospective clients access the internet via their mobile devices and whilst on-the-go. Mobile options are critical to attracting online traffic to your real estate business web pages. You loose drawing the attention of these users if your website is not mobile-friendly.
7. Engaging the services of online marketing professionals, who have knowledge and skills that will help boost your online presence.
Visit this Harvard Business Review on driving sales via online social media networking - less sales pitching and more fun and viral friendly sharing.