Bola, a Nigerian living in London, informed his brother in Nigeria of his decision to purchase some properties for profit-making. Then his brother suggested buying properties in Lekki for shortlets and office spaces. Bola decides that his brother will assist him in establishing the company in the agreed location, Lekki. The project requires that Bola will transfer the funds to his brother’s personal account. 

Aside from the fact that Bola desired the property on the Lekki axis, he specified that he wanted 4 units of a fully detached apartment for shortlet and rentals for office space to corporate clients. His brother sabotaged his investment scheme by building blocks of flats in an underdeveloped area of Otta. 

Meanwhile, he had been sending fake pictures to Bola.

It was heart wrenching when Bola visited Nigeria and discovered this sad reality.

The most common mistake in real estate investing is to buy because of the influence of a family member or friend, it could be a classmate from college who hasn’t been in touch with you in over a decade or a family member.

You must avoid making this investment mistake in real estate. If you must collaborate, pick a partner who shares your goals.

Your purchase should be one that meets your investment objectives.

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