The Chief Executive Officer (CEO), Balofem Properties and Company, Engr. Balogun Femi has advised real estate investors to choose wisely in order not to loose their hard earned money to fraudsters.
Engr. Balogun gave the advise during a media chats with our Correspondent in Abeokuta, the Ogun State capital.
The CEO hinted that investing with registered real estate companies is one way to have their monies safe.
“At Balofem, we advise people to invest on properties not because of today but because of tomorrow and we tell people to invest wisely by getting registered company in real estate so that you won’t lose your money in the hands of fraudster”
“We show our customers lands and papers and we also tell our customers to confirm the land at the Ministry of Lands if its government acquisition or not, we do that before our customers pay”
He further stated that this is his over 12 years experience in real estate sector without having any issue arising from sale of land or properties.
He however bemoan the saturation of the industry with quacks who had venture into the sector just to swindle the citizens of the hard earn money.
“We have been into this business for over 12 years ago and we have been trying our best so far compare to those that just venture into the business”
“It’s so unfortunate that those that join us recently are not really real estate practitioners. They are just doing it as a business and most of them are not straight forward people because land is not something that you can just buy easily but they have forgotten that it has to do with procedure” he stressed.
He therefore advise investors on how to create an empire through real estate, stating that, “Any land that is place on Promo are usually in the bush and those that are doing that are doing it to get people’s attraction just to buy the land or they have the issue of Omo Onile, in that case, they are cheaper”
“If Omo Onile sell a land, I don’t think you will have issue on it again unless you didn’t meet a right person when you want to buy such land that’s when Omo Onile will disturb you and in Balofem Properties we make sure that what you bought is from the right source”
“Though land is a business because nobody can carry it away, if you buy land it will appreciate because land don’t depreciate, but on the issue of persuading people to buy and pay later, how do you expect such categories of people to build on the land since the money they bought the land on credit is lower than the amount they will spend on it in building a house”