The Wealth Secret in the Real Estate Sector
Generating wealth during a recession is a big deal. Most people are losing wealth. Businesses are crashing and many are feeling the punch of the economy on their businesses. The best solution to these challenges is to look inward.
Real estate experts who gathered at a stakeholders’ forum have argued that contrary to belief that the ongoing recession in the country has hampered growth of businesses, the recession is actually a blessing in disguise to those who know what to do, just as it affords opportunities to think outside the box and makes people to be innovative.
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In the world of finances, we talk about a vehicle of wealth creation and that means there is a vehicle that takes you from your present financial situation to your desired financial destination. Now if you are going from Lagos to Abuja, you can choose to trek, but it will take you a while.
However, a man that flies by plane to Abuja will get there faster. Now, the reason the man that flies will get there faster is not because he is more intelligent, it is not because he has a godfather, it is not because fortune has smiled on him but it is because he has chosen the right vehicle. The man that is trekking is not trekking because he is a lazy man, it is not because he is not intelligent, or because there is a demon in his father’s house.
So, what we are trying to help people understand is that, for you to get to your desired financial destination, you need to choose the right vehicle and one of the best vehicles you can choose is real estate and that is what we are telling people today. We are saying that there is financial power in real estate.
Juxtaposing economic recession in the country with wealth creation. The question is who is in the recession? Nigeria is in recession. You are not Nigeria, you are a Nigerian. When the country was not in the recession did they give you the money? Is it not your salary you are still collecting? So, whether the country is in recession or not, what is your business, the country chooses to be in recession and you choose not to participate. Instead, you look for a way out of it.
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An entrepreneur should understand how to swim in the midst of the sharks, how to survive in bad seasons like the current economic recession the country is facing.
The recession as an opportunity to thrive. A lot of people see the recession as a drawback but we see it as an opportunity because most countries in the world that have become developed today, thrived during the recession. “Recession helps people to start thinking outside the box.
It is not a disadvantage to us, it is actually an advantage if you know what to do. So, in recession, we are still doing very well. Another thing about the recession is that when there is recession people want to invest in something that is tangible. So, they want to invest in asset not liability and what we deal on is the asset. If you buy a piece of land, it is an asset, if you buy a house it is an asset. That is why we are doing very well in this period of recession.
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Source: Vanguard News.