All Forum Posts by: Michael Ibosiola

@Morgan Nilsen

Am a Nigerian but presently working in the Uae. I aspire to invest in my first property by nex year.  I have been spending time studying materials on BP to know more about real estate investing.

I plan to invest  in Nigeria and Uae but there are no post ,blogs or articles on BP that i have read so far that talks extensively or give strategies based on this two markets .

So the challenge I have is that most of the post on Bp talking about stragies of acquiring a property and rentals does not really tally with the Nigerian market. E.g real estate loans are given at an interest rate of 20 to 25% for a tenure of max 10yrs and many other conditions attached.

Now my question is which states in US , UK  , austrailia Etc, has a similar pattern with Nigeria or Uae market. Am asking so I can network and learn  more with people from these states , knowing we have just few Nigerians and people from Uae in the forum that are professionals and talking about the market.

So please any advise will go a long way

As am in the process of studying and setting up my real estate investment goals , i want to focus on the Uae and Nigeria market.

What countries do you suggest that are in a similar state with those two countries in terms of acquisition pricing and rental pricing?

Because most  of the systems I have studied so far especially in terms of financing don't seem to work in these countries.

Thanks for your response.

hello  ,my dad offered to give me a raw land of he's .the land is situated in a developed community with lots of buildings, infrastructure, schools and hospital surrounding it. The size of the land can build 2 sets of 2 big  bedrooms SFRs.

The challenge I have now is financing this project and my dad is also financially down to loan me some money. Going to the bank also doesn't look wise with the 20 to 25% interest rate and max 10yrs tenure.

Please what type of creaive financing can I look into to get this project going. 

Thanks for your ideas

@Mark Broganundefined

Thank you mark...what were the the major challenges you faced as an investor when you started?

Hello Armond, u said its better to start investing without involving ones money...its sounds so interesting but what of in a situation where the mortgage loans accessible are at an interest of 20% and a tenor of 5yes max? Is this advisable.

@Dan Mackin

thanks for responding to my message......some of the things that appeal to me back home in Nigeria is buy-build - hold ,investment in raw lands for capital appreciation and also taking advantage of the cheap housing scheme by the federal government,with the aim of providing cheaper housing for workers ... but because  am not home its difficult to start that now.

today i was searching online and making calls to mortgage banks to see if i can use them to finance deals but the conditions are not favorable, 20% interest rate and tenor of 5 to 10 years.

And as for DAMAC, the job involves getting investors to invest in there off plan projects and also getting investors to buying hotel apartments ,which damac can manage for them and pay them there ROI on the properties yearly.

THANK YOU

hey guys

thanks for replying my message out of your busy schedules, i really appreciate...i just finished reading the ultimate guide for beginners and its been an eye opener..

I feel stuck, really don't know how to proceed next in choosing a niche and proceeding to achieve my REI goals.... the issue is that am new in the uae so i don't know much about the MARKET and i don't have a good network like Nigeria but i know the MARKET is very lucrative here ....i approached a real estate broker last week ,to volunteer WORKING with him for free during my weekend so i can learn but he told me to check back in 2 months because of some modifications hes doing hes office.

i had an offer from one of the biggest property developer here in the uae called DAMAC . THEY gave me an offer to become an independent AGENT with them.they have lots of off plan projects and apartment buildings in the MARKET.

 please do you think i can use this as an opportunity to start up.......if yes how should i go about it......any recommendation will be appreciated. 

Michael....

@Brandon Turner

Very informative video. Thanks for all the free information. am a newbie and i feel stuck at step 1.......................i have my mind stuck in two different markets, Nigeria and DUBAI....

AM FROM NIGERIA BUT PRESENTLY STAYING IN THE UAE FOR ABOUT A YEAR NOW AND THIS TWO MARKETS OPERATE ON DIFFERENT NICHES.......

THANKS TO YOU AND EVERYONE AT BP.............

@Kelechukwu Uche

 Welcome to the BP community kelechukwu, its nice to have you here . Am also a newbie working on my real estate goals .

Make sure you download and study " the ultimate beginners guide" . 

@Mehul Mehta

Hello its really nice finally meeting someone from the uae in the forum......i am a newbie just joined BP last week with a mission of becoming an REI. I WISH YOU ALL THE BEST AS YOU GO ON WITH YOUR INVESTMENT.