All Forum Posts by: Michael Ibosiola

@Bill Gulley

Thanks for the response.

The bank rates are very high for newbies who are just starting out as you stated but am still searching for other alternatives.

Please can you recommend any of the old books to purchase.

Bill can you also give me your opinion on my post about exploring the uae market. Today I went to meet a real estate investor to discuss how I can work with he's company on weekends so I can start learning on the field. He said I should give him two months to fix he's office, so I look forward to that.

Thank you all for your response..

@Bill Gulley

Wow that was more than an echo, very insightful.

please can you expanciate on rolling the construction loan over to end loan..

Also the issue about loan in Nigeria is that the interest rate is as high as 20-25% for a tenor of 3 to 5yrs max but the government said its working on a mortgage scheme for 15% and 20 to 30yrs plan. Is it advisable to get such loan...

I also appreciate you pointing out that when picking a niche one has to give more consideration to the market than looking for a profitable niche. That's why for now I spend my time studing so I can get the basic knowledge

Thank you

@ Josh Caldwell

For about one and half years now have been working in UAE..

Uae has a very good real estate market with nice ROI...I intend learning from this market before I head back home but my challenges are :1) investment are on the high side and i am on a low income job 2)because am on a low income job , I can't have access to loan.3)am new around so I don't know much people.4)getting a local investors to learn from on weekend because I work from 5 to 5pm.

Advantages with the Uae market:

1) RE is very lucrative here

2)due to the expo 2020 coming to uae, the region is developing very fast and looking to have more investors then

3) due its stable economy among other countries in the middle estate, investors are attracted to d region.

4) the youths are not really entrepreneur minded but are gradually embracing investment opportunities.

5) easy access to funds/loan for locals with low interest rate and long tenure of 25 to 30yrs.

So @ Josh Caldwell and other professionals, how can i work with this advantages to kick start my RE education and investment in Uae.

@Josh Caldwell

Thank you for your reply...

I agree with you that the raw land hold and buy strategy takes a longer time to yield profit...

I will put all points you gave into consideration when looking for a raw land to invest in...

ThAnk you...

@Budahn Darren 

Thank you for the information .......

We have something similar in Nigeria called NHF(national housing fund).

its an initiative by the government to provide affordable  housing for Nigeria workers......its made for residential properties..... Repayment period is 30yrs max.....and a 6% interest per annum max....

Comes with other lengthy conditions and i heard its difficult to get access to it.

@Kathy Argento

Thank you...

Hi all

I have been studying and taking time to pick a niche.

From all research  made ,I discovered Nigerians are more into 2 niches:  buying of raw land, hold for a while and resell when the value of the property increases in terms of cost. But I also notice this model sometimes takes years for the cost to increase which ties down capital.

The second niche is the build/buy and hold.

I want to base my real estate investment journey along this two niches.

I will  be delighted if anyone with experience in this 2 niches guide me.

Thank you

@ Kathy Argento 

Am a newbie also a nigerian but based in uae....Will like to ask are FHA laws and policies the same for all countries.....

thank you

Thanks for the information.... Will make sure I put them into action....

@Emilio Vernaza

Welcome to the Bigger Pockets community!

Am a newbie also, am also making research on how to use FHA loans to get me starting in my real estate investment.

wish you all the best..

Hello all 

I have no idea about REI so I'm currently reading the ultimate guide for beginners to REI and it shows there is a lot to learn.

I am interested in any advice anybody has about investing in Nigeria and Dubai.

Due to my low monthly income , i,'m looking to wholesale , rental properties and virgin lands.

Anyone knows Nigeria and Dubai?

I know many people are skeptical about the Nigeria scam but please am serious and want to learn to grow rich and help people also learn.

Thank you for reading.