Updated: Apr 12, 2020
This blog will contain tips, information and stories about Real Estate.
My name is Bolanle Ogidan, I am the MD/CEO of Mcdedict Homes Limited. Permit me to take just few minutes of your time. Permit me to open up to you today. About 10years ago my hubby and I moved into a neighbourhood called Ikota Villa Estate in LEKKI Lagos. As soon as we moved in, the Landlord called us to discuss with us how we can become a home owner in Lekki. So he said he would allow us to pay rent yearly for the next few years till we are able to pay N20m for a Semi-detached house sitting on over 680sqm(a bit above a plot). My hubby and I looked at him and said 'thank you'. We were quite young and just 4 years into our marriage. We didn't understand the worth of such valuable strategy to owning a Property. So we didn't really take it serious like something valuable. We were only paying N750,000 per annum. In my mind I felt intimidated, thinking 'why on earth are you offering such to us knowing fully well that it will take us nothing less than 20years to pay such'. And the house too wasn't looking so new to us because the Landlord built it to taste but did not live in it some years. And coupled with the fact that it was a water logged area. Follow me, just about 5 years down the line He asked us if we could get loan to pay him off so he can give us document immediately. We still didn't take it serious. To cut the long story short we moved out of the house thinking it will be good for him to sell off to someone else since we were not ready to commit to this kind of Investment in the first place. Fast forward someone bought this house from our landlord. During my normal morning routine exercise last year, I decided to go as far as reaching this same house. Lo and behold I saw that the house we were living in then, has been demolished and now 3Units of Semi-detached House is sitting on that same land which worth as much as N150m. A plot in this same estate worth at least N60m (that is if you even get to see one to buy). Hmmm can you imagine we could have had such kind of Investment in our portfolio. Think about it all this is just 5years ago. A Property worth N20m now worth as much as N150m. Why am I writing this long story, I realised that if I had a Real Estate Company or An Investment Analyst then, I would have been able to agree on a DEAL/Joint Venture opportunity that would have allowed us to own at least 2 of the houses to accommodate the investors funds. I will never allow anyone close to me to make such mistake and that is one of the major reasons why am so passionate about Real Real Estate Don't Wait to Put Money Together Before Investing In Real Estate most especially where there is a high demand like Lekki.*START FROM WHERE YOU ARE. You are free to ask me how you can start Building Your INVESTMENT Portfolio. Once Again, my name is Bolanle Ogidan and I am your GOTO Realtor.
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