Six years ago, I began my conscious journey to become wealthy, to matter in life, to be above a statistics on earth – a journey to live my best life.
As with everyone who begin this journey, you begin with books, inspirational talks and events, and eventually some action to prove your pursuit.
2017, I had some financial lift, so extra cash was available.
I bought my first piece of land.
Why? Because that’s what wealthy people have!
As nice as that sounded, today I laugh at myself for the reasoning behind the purchase.
I wanted land, there was land, and I bought it. I actually bought it for buying sake. There was no purpose in mind. And today, that land is still without purpose. It is too far to be for residential. It is unsafe, last I checked. It is too small, and inaccessible to be used for industrial purpose, or even for agricultural purposes.
This ingrained in me a lesson. Although all hope not lost, land is land, time will bring it closer and of higher value, even if it is 40 years!
Circa 2021, I bought my second piece of property. This time around, I was specific. I was buying for agricultural purpose. Road, water, electricity and distance were key factors. Another key factor was ability to expand.
Now, unlike the first time, I went through a series of options before picking. And it was a good decision, in my opinion.
2022, I’m buying my next property for residential purpose. Whether for myself or for commercial purpose, I cannot tell yet. But the lens for the decision is, I’m buying a place I can live, hence, any human at my current demographic profile can also live.
First is the progression of knowledge. See, no matter how you read, you can never learn to ride a bicycle from a book. You learn by getting on it. Yes, you can be faster, if guided or mentored, but it does not “disappear” your process and progress. I’m grateful that I can look back and see the progression in understanding by experience.
Second lesson is, always buy a piece of property with a purpose in mind. It doesn’t matter if you will eventually sell it without developing or utilizing it. Just be clear what the potential use case is assuming you had all the resources right now to do what you want.
And yes, you can start out like me, LOL, buy a land for buying sake just to have a feel of being a landlord. However, I think you should do better than me, buy with a purpose.
There are few basic purpose for buying a land as an individual:
1. Agricultural Use
2. Residential – Whether personal or for rent/lease
3. Commercial – shops, offices and co…
4. Industrial – Warehouse, small processing plant, etc…
On your next buying journey, think this way.
One thing I always think when I move through any city is the fact that someone owns all the properties I see (except public buildings). Yes, every land I see is owned by some persons. No wonder people are rich!
The shareholders of FirstBank own all the sweet city centre lands that FirstBank owns. The Alhaji beside me owns all the road facing land, shopping complex and the leased land for a fuel station on the next street. How did he get it? Did he buy it 50 years ago? Was it an inheritance? Whatever the case, he’s the landlord.
This is one of my motivation for property ownership – It’s real, it’s lasting.
I do believe in investing knowledgeably into real estate. And being an architectural designer nudges me even further in that direction. It’s only a nudge because real estate is far bigger than buildings and structures.
Today, I’m glad I’m a landlord. Yes, that feels great to say.
And perhaps you wish to begin your landlordship, I’m collaborating with some credible real estate companies to deliver seamless, peaceful (no small police case), affordable land and properties. You can DM me now to find out more, or wait until I share some offers in the coming weeks. If you know me, you should know that my investment philosophy prioritizes risk management and mitigation, I no like wahala! So, imagine owning a property in Abuja (satellite axis to be precise) for as low as N15,000 monthly premium: Fantabulous right?
Own a space on earth! It’s a good thing.