How To Acquire Landed Property With Little Or No Money

The simplest and easiest method of buying properties is to pay cash. The seller is happy and you are happy. There is no need for extra paper work and security, which you will need to comply with if you are sourcing the funds from a third party. There are no monthly payments and thus, less sleepless nights if you have a drop in your cash flow or lose your job if you are an employee.

However, if you do not have the cash that you need to buy a property, there is no need to be discouraged. All you need is to become more creative and all things being equal, you will eventually achieve your dream of home ownership. There is always a way for those who are willing to pay the price to find it. There are several ways of acquiring properties other than paying the full amount upfront as it is usually the case in Nigeria.
If you have no money at all but you are knowledgeable about real estate, it is possible to convert your effort into a property or properties. Most professionals who work in the real estate sector, depending on the circumstances, can choose to be paid in kind rather than in cash or part cash and part in property. In this case, your equity is what is called sweat equity. Several real estate professionals are familiar with this and can share their own experiences in this regard.

Take the case of an estate surveyor engaged by traditional land owners to carry out a survey of a large expanse of land, but the owners cannot afford to pay his or her professional fees. In most cases, they offer to pay professional fees using the land in lieu. This same arrangement is applicable to all those who are engaged in one aspect of real estate investment or the other. The critical point to note is that it is possible to trade your effort, skill or professionalism for real estate. Continue

Culled from Punch