Today’s world is a global village, thanks a lot to the Internet and globalization. With just a mouse click, you’ll get all the information you need about what’s happening anywhere in the world. This has really made things easy, especially when it comes to investing.
That today there is a crisis in the real estate market is no longer news. Everyone knows this, no matter what country or continent you live in. Due to this crisis, many investors are not willing to gamble their money on any real estate investment, at least for now. They want to wait for the market to stabilize, so they can know the direction of the market. This is a wise decision, of that there is no doubt.
However, I have a different vision or approach to this issue or situation. I think instead of waiting for the US economy to return to normal, which analysts have predicted may take six to 12 months to do, why not invest in the developing markets of Africa? If the housing market is bad in America, it’s still booming in places like Nigeria. Instead of waiting for the US economy to improve before buying land or property, buy that property in Nigeria and wait for the US to come back.
The real estate market in Nigeria is so good that you cannot lose your money, unless you fall victim to scammers. There are places in some remote parts of Lagos, where a land was selling at a rate of #360,000.00 as of October 2007, but at the time of writing, the price of a land there is from #800,000.00 to #1M. There were people who knew when the land was sold at #360,000.00, but they were waiting for what would become of that area, today they are paying the current value to have a land there, and there are still some who are still waiting.
John Jacobs Astor, once the richest man in America, was quoted as saying “if I could live life again, I would buy every square inch of Manhattan.” Instead of waiting for the economy to improve before investing, start investing in other developing countries like Nigeria, Ghana, South Africa, etc. Through the internet, you can get reliable brokers or property managers to help you get your dream property that you can sell within a year at a 100 percent profit.
Cautionary Notes However, be sure to do your due diligence before settling with a broker or property manager to avoid being scammed. The fraud rate is very high in these countries, especially Nigeria.
