Blog

It’s Time To Use ‘Idle’ Money In Your Bank Account For Real Estate Investment

• Posted by Opeyemi Quadri in Real Estate Investing
• No Comments
• Share

Do you have some idle monies sitting in your bank account? Are you waiting for interest from your bank at the end of the year?

There is no way monies can be idle in financial institution. If you’re not positively using it for business, your banker will utilise it and give you a certain interest.

Usually, the interest you get from bank savings (which comes from stringent terms and condition) is a meagre compared to what you get from your investment on real estate.

I’ll share a story with you…

The owner of a property that recently sold out revealed how reluctant he was when he wanted to buy a property on the Ibeju-Lekki axis.

He shared an inspiring story of how he invested almost all his savings on five acres of land a few years ago.

Today, he described the price of the property as a ‘giveaway’ compared to the cost of 300SQM or 600SQM on that axis.

You want to know how much he sold a plot?

N15,000,000/plot (plus C of O). That’s cheaper compared to what some real estate companies are selling on Ibeju-Lekki.

For instance, one of the prominent real estate companies is selling an half plot (300SQM) for N11,000,000 on the same axis.

This means, the anyone who bought a full plot at N15M can be described as being lucky.

According to him, he made more than 120% on each plot by the time he was selling.

“How I wish I had bought more years back,” he said.

Use Your ‘Idle’ Money For Real Estate Investment Instead of Leaving It Idle In Bank Account

The good thing about real estate is that the price hasn’t reached its peak. If you bought a plot for N13M or more today in Ibeju-Lekki, you may have to pay X2 in the next two years or earlier.

The development in Ibeju-Lekki is huge which makes the area an investment destination for businesses.

The fact is: Dangote Refinery has completely refined the cost of property on that axis.

If you have ”idle’ money sitting in your bank account, look for a trustworthy real estate company you can invest in or buy directly from land owners and begin your own real estate journey.

If the property has a Certificate of Occupancy (C of O), head straight to the Land Registry unit at Alausa to verify it.

You can never equate the interest of financial institutions on you savings to what real estate investment will give you (ROI).

You won’t regret you did!