Real Estate: A Low Hanging Fruit Ft. Oloruntoba Olubukola Motunrayo

Signals Guest, Oloruntoba Olubukola Motunrayo started off by saying Real Estate is a low-hanging fruit everyone can pluck, when asked why by the show’s Host, Oshodi-Tapa, she gives the reasons why which are:

· You can come into the space as an investor,

· You can also come in as a marketer.

Oshodi asked Oloruntoba an important question that is on the lips of many Nigerians concerning being able to afford a plot of land. Oloruntoba replied by giving an insightful answer, she said if an individual cannot buy the land out rightly, such a person can do land banking, which is also called buyback, and if an individual has about five hundred thousand or below, an individual can invest in land banking which brings returns, in some months, he or she will be able to purchase a plot of land. If an individual doesn’t have that amount of money, the individual can join the network marketing team to achieve the desired result.

She further tells us at least one hundred and twenty plots of land make up an estate. Our network marketing team is in a pool whereby we interact with a large number of people. One also has to be consistent and ready to put in the work. She also states that consistency is better than tenacity.

Oshodi asked our Guest about the current rate of inflation and how buyers are going to cope with the ever-increasing rate of properties. Our Guest also highlighted the fact that Real Estate is the surest way to wealth and as an individual, you will need to own a home and always live in a home. These factors will make the land business continue to be important forever.

Real Estate investors are futuristic thinkers, and this is why they buy plots of land close to a developing area, and in about ten to fifteen years, that environment would have opened up to development. She advises people that if they cannot afford to buy landed properties in Lagos, they can explore other parts of the country. Oloruntoba gives a historic account of what the Catholic Mission did, stating that they used to build churches in the middle of the bushes and that attracted people to move into that area and settle down.

Oshodi-Tapa further asked about the type of documentation required when buying land and Oloruntoba gave a simple reply by saying any document that doesn’t have an excision is not valid. Excision means that The Government has excised a portion of land stating that it is free and not needed by The Government.

Furthermore, there are certain individuals who are referred to as “Omo Oni le”, these set of people usually collect money from individuals after purchasing a portion of land, and the question of how to handle them was asked by the Host. The Guest stated that they also have to meet with developers and you as a network marketer also have to settle them so they do not disturb clients.

Lastly, Nigerians in the diaspora make up about ninety percent of our customers, she likens this to the African mentality of always having properties back in Nigeria. She also states that people should always make sure they do not turn their assets into liabilities, which deals with high demand in the market and space management.