Millennials, invest affordably in real estate even on your 150k, 200k 9-5 Salary

Now we pretty much know that investing in real estate, especially in a city like Lagos, can dig holes in your pockets, heck you might even have zero pockets when it comes to the kind of pocket that is required to transact and invest in real estate in Lagos. Especially as a millennial who is still trying to put life together, earn a figure between 100-150k, pay rent, feed, take care of some bills, look relatively good and do drinks at least every once in a while, how could you possibly invest in real estate on your own terms? Should this really be mission impossible?

There’s good news guys. It isn’t!

It is do-able and achievable. You just need to gbe bodi e and look outside of the areas most folk in a higher income bracket are looking. Millennials who have been priced out of their local housing market are jumping on locations that are not so heavily priced, but that hold prospect of development headed in that direction, albeit not any time soon. But aren’t we all often shocked as to how quickly time flies, and next thing you know, a place that had no development becomes a threshold for development? This happens all the time, as long as you do your research, homework and due diligence about the particular area you’re looking to invest in.

If you’re a millennial looking for a departure from the roller-coaster ride of investment packages that are well over your pay grade, be willing to put in the work that’s required to find trusted, out of town/state real estate investment deals that come with a futuristic promise of development that will guarantee your return on investment in said areas. Futuristic might be 15, 20 years or more, but if from your research and statistics with real estate professionals who are versed in studying where development is headed, who’s to say that it won’t be worth the wait? And no gun to your head to go and live stretches away from your familiar setup. The land could be mostly for re-sale purposes when appreciation has set in, for rental, or you just never know, maybe just maybe for habitation.

This is a way to lucratively own real estate, especially when you live in an area where land or home ownership is harder to achieve, based on your current financial realities. Next thing you know, you could be owning multiple properties in multiple locations as a result of smart, affordable buying, as opposed to waiting endlessly to gather up the lump sum required to invest in a city like Lagos. And we all know the huge mantra of real estate: “Land doesn’t wait, appreciation doesn’t either”.

Armed with the right network of agents, legal and investment advisers, and with you always on hand to do your due diligence and supervision in the smaller cities and locations you’re looking to invest in, you can physically buy lands and homes or even rental properties based on various returns and risk factors, such as location and tenant history, ultimately working what you can afford in the now. Smaller cities and rising markets offer a good chance for more consistent monthly returns.

Also, there are emerging investment platforms like VistaFront for instance, that offer a channel for capital flow. VistaFront is a tech platform for co-funding real estate projects. It affords you the opportunity of funding a project, and the getting your initial funds plus returns at the end of the project cycle. You can select from the various projects that have gone through rigorous vetting process before they are made available for funding, you can fund as many units of a project as you want provided it is available, and then at the end of a project cycle, your bank account will be credited with your initial fund and the returns.

A vast array of options are open to you. Do not shut yourself out of investing in real estate because you feel you aren’t financially buoyant. Do your research, be willing to invest outside of the heart of Lagos but in a place that boasts of incoming development backed by statistics and most importantly, work with trusted, real estate investment advisers and agents in these very locations you’re looking to invest in who know the terrain so well. Conclusively, research thoroughly on existing real estate tech platforms that offer flexibility in real estate investing, and you’d most assuredly be on your way to kickstarting your investment journey!