Sunday, January 9, 2011

Rules For Buying A Land

Find a reputable real estate company and buy from them (they will usually be in
charge of getting a lawyer, making sure the land is free from government interest etc)
?? Ask questions – yes, ask any questions you may have no matter how stupid. I have
discovered that in the course of asking questions, you something stumble on things
you would otherwise not have known.


1. Never buy a land that has the sign “This Land is Not For Sale”
2.  Ask about the documentation and titles of the land you are about to buy
3. Make sure you collect and keep your receipts after payment
4. Ask about allocation information
5. Ask about types of structure and limitation because sometimes the estate company might set a limit on what you can and/or cannot build
6. Make sure the land is free from Government interests
7. Even when buying from the estate agents, try and buy in groups
8. Ask about documentations they will give you when you complete payment and are allocated your plots
9.  Buy on recommendation as much as possible
10. When paying in instalments, make sure you keep your books and records intact. They may mis-calculate or loose their records or a staff may be funny. Keep your records.
11. When you are buying in groups, watch out to see if the leader is trying to hide things or play funny games – this is a sign that you should beware.
12. Check the location
13. Get a professional and check the land from the government


When you buy from real estate companies there is more safety than when you buy
individually and to give you more dealing power, it is always best to buy in groups and that is
exactly what the Mafialandlord website does.


Instead of you buying directly from the real estate companies, we serve as the link (not
shielding you in anyway however) and therefore create a group buy so that if anyone has an
issue, the whole group can go all out on behalf of that one person.


Another good reason for buying directly from the estate companies is that it gives you the
ability to buy and pay at your ability. You see, I believe that everyone who earns an income
can become a landlord. The problem is always putting all the money together, and this is one
good thing about the estate companies that allow you to pay in tiny, broken bits.



For example, we have a Mowe/Ofada offer of land at N250,000 which is a steal anyway. The
nice thing is that you do not need to pay all the N250,000 at a go. All you need to pay is
N50,000 – then you can pay the rest “small-small” until you complete payment. Which
means if you like, you can pay N10,000 or N20,000 a month until you complete the payment!
Note, some of these estate companies will promise you that once you start paying the cost of
the land will not increase and yes I have one like that personally. I started paying at N600,00
and now it is going at around N750,000 per plot. I have not completed the payment on this
particular property but I am able to peg the price while it appreciates. I am sure that the day I
complete the payment, my property has appreciated many times over without any stress!
I am sure if I kept that same N600k in the bank, it cannot have appreciated with an extra
N150,000 in just 12months. If you know a bank that can pay that much, please let me know
so I can keep some money there ?



I know the question you are dying for me to answer next in this report is “How Do You Get
Started Using Mafialandlord.com”

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