A no-fluff guide to help you avoid mistakes and make smart moves.

So, you’re finally ready to jump into real estate?

First off – huge congratulations! You’re about to step into one of the most powerful ways to build wealth, not just in Nigeria, but globally. But here’s the honest truth, straight up:

👉 Real estate can absolutely make you rich.

👉 But it can also seriously drain your wallet – especially if you dive in without a solid plan.

This post is here to give you some practical, street-smart advice that every first-time real estate investor in Nigeria absolutely needs to hear. Let’s break it down – keeping it simple, real, and totally free of confusing jargon.

1. Don’t Rush – Do Your Homework (Due Diligence)

If there’s just one golden rule you absolutely must follow in Nigerian real estate, it’s this:

Verify everything before you buy.

Seriously, too many people get caught in scams because they trusted an “agent” or a “family friend” without actually checking things out for themselves. Before you hand over any money for land or property:

  • Confirm the land titles: This means checking documents like the Certificate of Occupancy (C of O), Governor’s Consent, or a Registered Survey. These are your proof of ownership.
  • Go see it yourself: Visit the land or property in person. Don’t rely on pictures or someone else’s description.
  • Hire a trusted lawyer: And we mean trusted. Not just any lawyer, but one who specializes in real estate and has a good reputation.
  • Ask for the deed of assignment: And then, take it a step further – search with the Land Registry to make sure everything matches up.

If these terms sound like a foreign language right now, that’s perfectly fine – just promise yourself you won’t make any moves until you fully understand them.

2. Risk Is Real – But You Can Handle It

Every single investment comes with some level of risk. In Nigerian real estate, here are some common pitfalls:

  • Buying from fake landowners: This is the infamous “omo-onile drama” – dealing with people who don’t actually own the land.
  • Paying for land the government already owns: Imagine buying a piece of land only to find out it’s under government acquisition. Ouch!
  • Investing in properties that will never grow in value: You want your money to work for you, not just sit there.
  • Building in flood-prone areas: Nobody wants their dream home to turn into a swimming pool every rainy season.

So, how do you manage these risks?

  • Don’t let emotions drive your decisions: It’s easy to fall in love with a property, but keep your head cool and focus on the facts.
  • Always insure your property once it’s built: This is your safety net against unforeseen disasters.
  • Work with a real estate consultant: Someone like PropertyLab can be your guide, helping you navigate the tricky parts.
  • Ask questions, lots of them: If something feels too good to be true, it probably is. Trust your gut, but verify with facts.

3. Location, Location, Location: It’s Everything!

In real estate, this isn’t just a cliché; it’s the absolute truth.

The area you choose can either make your money multiply in just a couple of years, or it can hold your cash hostage for a decade.

When you’re scouting for a location, ask yourself these questions:

  • Is the government planning or already building major infrastructure nearby (like the Dangote Refinery or the Lekki Airport)? These are huge growth drivers.
  • Is the area already attracting businesses, schools, hospitals, or shopping malls? These bring people and demand.
  • How easy is it to get to major roads, public transport, or city centers from here? Accessibility is key.

Pro tip: Keep a close eye on areas like Ibeju-Lekki, Epe, Sangotedo, and parts of Ogun State that are close to Lagos. They’re showing great promise!

4. Think ROI (Return on Investment), Not Just “Looks”

Don’t buy a house just because it looks “fine” or “big.” Buy it because it’s going to bring you returns. Period.

There are different ways to make money from real estate:

  • Rental income: This is your classic monthly rent from tenants.
  • Shortlet income: Think Airbnb-style rentals, where you rent out furnished apartments daily or weekly. These can often bring in significantly more cash.  
  • Land appreciation: Buy land low, hold it, and sell it for a higher price later.
  • Flipping: Buy a property, renovate it, and then quickly resell it for a profit.

So, ask yourself this, honestly:

“How much money can I realistically expect to earn from this investment in 1, 3, and 5 years?”

Be honest with your calculations. A good yield for a short-term rental, for example, is around 10%, but it really depends on your goals – whether you want high cash flow, long-term consistency, or low effort.  

5. Start Small, Then Grow Smart

You absolutely don’t need heavy millions to get started in real estate. That’s a myth!

You can:

  • Co-invest with friends or a cooperative: Pool your resources and share the benefits.
  • Start with a joint venture deal: Partner with a landowner or developer, where you bring funds or expertise, and they bring the land. You share the profits!
  • Buy affordable land in developing areas and hold it: This is a classic long-term play.
  • Rent out a small 1-bedroom for shortlet: Get your feet wet with an Airbnb-style rental. Short-term rentals can earn 30-50% more than long-term rentals, but they do come with higher operational costs and more hands-on management.  

Every big landlord you know started small – the key difference is, they started.

Final Thoughts:

Investing in real estate is genuinely one of the smartest things you’ll ever do – but only if you do it right.

The Nigerian property market is full of incredible opportunities, but it also has its fair share of traps. So, if you’re just starting out, take your time, ask all the questions you have, and make sure you work with people who truly understand the terrain.

📌 Need a hand with site inspections, verifying documents, or just some solid real estate advice?

Let PropertyLab Nigeria guide you. We specialize in helping you set up, manage, and get real ROI from your real estate investments – whether you’re brand new to this or a seasoned pro.

Call us today on +2347038570563 or

👉 Visit: www.propertylabng.com