(MY SUCCESS STORY) Opportunities in real estate huge for people to make fortunes – Adeyeye Foluwasho, Principal Consultant, Jeh Royal Shelters & Construction Limited
Tapping into the hidden opportunities in real estate, shelter provision and construction seems to be the way to go in recent times, as the number of real estate companies is rising in Nigeria.
One cannot fault the market for the prediction that since Nigeria’s population is increasing exponentially, it is only wise to expect the real estate to boom. With predictions for further increase in the next 10-15 years, there is indeed a keen prospect for Nigerians to alleviate the country’s poverty.
Adeyeye Foluwasho, a principal consultant of Jeh Royal Shelters and Construction Limited, shares more insight in this interview with The Nigerian Xpress:
Tell us about your business?
Jeh Royal Shelters and Construction Limited is a registered business in Nigeria established to perfect, perform and carry out construction works, engineering, drawing, and designs of buildings, road and drainages construction, document registration and perfection, real estate consultant and property management, and the supply of manpower and building construction materials.
The business started operation in 1999 on a very low-key (little capital) as Adebamgbe Adeyeye Nigeria Enterprises before recapitalizing to Adebamgbe Adeyeye Nigeria Limited.
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On 2020 July, there was a need to fully go into shelter provisions and construction which was started with a team of engineers, and today we’ve grown to this feat.
Aside from the growing presence of digital technology, real estate, which is the umbrella name of the business, is a good investment ground for eyeing prospects with a keen desire to invest. The business is a great ground of wealth that never loses value and constantly appreciates. But surprisingly, many Nigerians, particularly youth, are not mounting on the sector. Nigerians can tap into the wealth potential in the real estate sector to alleviate the country’s poverty.
How sustainable is this type of business?
The sustainability power of the business lies heavily on trust and integrity. Aside from these factors, I can boldly say the business has a huge financial benefit ranking in the millions that youths could invest in and become successful. The income opportunities are huge and people should venture into and make a fortune for future posterity.
What are the peculiar challenges?
As it were in every business, there’s always up and down, especially with the Nigeria factor which does not support the growth of enterprises. Lonely challenges include lack of required capital, taxation, locations as well as government policies.
The government needs to invalidate obsolete laws to boost the courage of prospective investors in the sector. People need protection from the government, which can be achieved by a strengthened and reformed Land Use Act.
What are the likely opportunities and how financially satisfying is it?
Real estate investment has a robust economic prospect; investing in real estate doesn’t necessarily have to come through buying and selling landed properties. Real estate investment is a great deal and another solid alternative to alleviate a country’s poverty as there will be more job opportunities as more businesses grow. The real estate sector has a lot of possibilities for motivated individuals and entrepreneurs.
However, payment is subject to performance per month and the outcome of the project is solely determined by the proceeds of work done. Any interested member of the populace who is capital-oriented can pull resources together to invest massively into the real estate and construction sector which is coated with opportunities and forms an integral part of our economic development.
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What is the return on investment in the business?
The return on investment cannot be underestimated. The more capital, the more the return on investment. It is based on what one can afford. To purchase a property at Ogba, which is in Lagos, is different from a property at Opebi or Victoria Island in the same Lagos. So real estate and construction business capital is relative and subjective to a certain area. A rough estimate of what my company makes monthly cannot be mentioned since we are still in business but Nigerians should tap into the business to amass wealth.
What are the investment opportunities?
Investors can invest directly in physical real estate or choose to invest indirectly through managed funds. Investing directly in real estate involves purchasing the residential or commercial property to use as an income-producing property or for resale at a future time. Indirect ways to invest in the real estate market include investing in real estate investment trusts, real estate exchange-traded funds, and infrastructure funds.
Due to the higher liquidity available in the market, the lower transaction costs, and lower capital requirements, average investors prefer to indirectly invest in real estate. Globally, the real estate sector is one of the most profitable ventures of every economy and one of the indices of measuring the economic growth of a society. It is a sector that mirrors the economic viability and sustainability of an economy and its poverty level. You can reach us via google to discuss extensively how to make good returns on your capital instead of lodging a fortune in your bank account.
