HOW I BECAME A MILLIONAIRE REAL ESTATE OWNER FROM SELLING USED CLOTHES ON THE STREETS.

Dear friend, tough times don't last but tough people do.
Fifteen years ago, I was a young ambitious woman who survived through school and being from a not so privileged background. I had to combine school with petty trades to pay my fees as I have always wanted to be more and a blessing.

To achieve this I was resolute not to settle for the average life. On finishing University Education, I got into the business of hawking used clothes (okrika) and made enough money to take care of my needs but not enough money to become and make the kind of impacts I have always desired.

On a sunny afternoon, I came across an old school friend, it was very obvious she was on a very different financial level. Being curious, I immediately asked what the source was, it was real estate.

We spent the rest of the afternoon discussing the opportunities in Real Estate and how I might join the industry. She also warned me that cheap real estate investment like lands without bankable  documents is a trap and i can loose my small savings

I had saved up about N500,000 from my okrika business and ready to invest.

BUT I HAD SOME FEARS !!!

✔ Fake products and scams

✔ High cost of entry for genuine real estate product with high returns

✔ Integrity issues with developers and other real estate companies

With the help of my friend, I could identify a couple of them but the real challenge was that genuine property with high returns on Investment were too expensive for me.

In one of our first deals, there was an opportunity to purchase a fast appreciating land worth N5,000,000

We had estimated that in 5 years time, the land could appreciate by a minimum 500%.

I did not have the full money, neither did my friend, however, we decided to put together the money by inviting other people.

By co-investing ,we would also share the 500% profit according to our individual contributions.  My contribution was a meagre N500k

After 3 years, we sold the property for a whooping N30, 000, 000, I got back a little above N3,000,000. 

It could have been impossible for any of us to acquire the property as individuals, but by collaborating,we enjoyed huge returns.

I have since taken on bigger projects in their millions and billions, becoming a multi-millionaire with the power of joint venture. Now teaching and collaborating with corporation like chevron coporative, mobil coporative, Lagos state development project corporation etc

Don't you ever give up.
Keep doing all you know how to do.

Courtesy

Ofure Ibakhome