BUYLETLIVE IN CAPACITY EXPANSION, NAMES INDUSTRY EXPERT - MODUPE AGBOLAHAN COO

BUYLETLIVE IN CAPACITY EXPANSION, NAMES INDUSTRY EXPERT - MODUPE AGBOLAHAN COO

BUYLETLIVE IN CAPACITY EXPANSION, NAMES INDUSTRY EXPERT - MODUPE AGBOLAHAN COO

3rd August, 2022

2 minutes, 14 seconds read

BuyLetLive expands its team with the latest appointment of a new Chief Operations Officer, Modupe Agbolahan to its management team. Astute leader with business acumen in real estate and property marketing, Modupe brings onboard a wealth of experience in building sustainable stakeholder partnerships and brand loyalty.


Until recently, she was the Assistant General Manager at Realhouse Communications Limited where she delivered rapid market adoption of Castles Lifestyle Magazine and grew the portfolio to N100M Annual Recurring Revenue. She led the team to achieve excellent customer service to over 10,000 real estate practitioners earning the title “Nigeria's premier real estate magazine”.


Announcing the onboarding, Olorunsola Awolola, the Chief Strategy Officer, said, Modupe’s appointment will support the accelerated execution of BuyLetLive’s ambition and 3year growth trajectory to dominate the Market through Partnerships and excellent Customer experience. “As a real estate marketplace, BuyLetLive is a safe meeting point for stakeholders in the ecosystem. Our users are at the core of everything we do. It is why we harness resources from the best available to ensure we deliver on our promise”.


“I am very happy to be joining this family. I have seen the active commitment and passion of the teams to addressing user pain points in property search for rentals, finding short lets and outright purchases. The team relies on profound market insight, adopting user research for concrete strategy. All that we do is from a place of commitment to our customers. I am ecstatic to be a part of this and we will do ground breaking things!”


Modupe has a strong background in commercial strategy, consumer marketing, customer service, brand building and customer analytics, a great addition, especially with the massive growth the platform has seen over the last few months.


As the Chief Operating Officer, Modupe will oversee marketing and operations, while Olorunsola will now oversee technology and product developments. This promotes the goal of BuyLetLive as a proptech platform giving the best experience in property search made easy. 


At the press conference, Olorunsola announced the release of the BuyLetLive Mobile App and state other plans in the blueprint for improved property search. We started operations 8 months ago with only the web application. This was a deliberate approach to understand our users. More importantly, we needed to study their pain points and build what really is value to them. We are happy to announce that the app will improve agent upload sessions by 40%. Of course, for those who request a more personal touch, we have a dedicated customer service team and an active web chat to directly receive feedback, enquiries, and special requests from customers.


About BuyLetLive: BuyLetLive’s mission is to simplify, digitize and streamline the buying, selling and rental experience for the real estate ecosystem in a user-friendly interface, using top-quality photos to view. They give prospects peace of mind by verifying agents on the platform and offer VAS services that ensure that their customers find the process of searching and settling into their new homes, seamless.


To find out more, users are encouraged to visit the buyletlive.com website.


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28th July, 2022

2 minutes, 30 seconds read

Top locations to rent 1 Bed Apartment of less than 1 million naira in Lagos

If you are a young professional living in Lagos or planning to relocate to Africa’s megacity, one crucial financial responsibility to consider is accommodation. Our rental price index note highlighted that the average asking rent for apartments in Lagos has increased by 20%+ over the past year. This was based on an analysis of a pool of listed apartments, comprising 1 bedroom, 2 bedroom, 3 bedroom and 4 bedroom apartments in multiple locations in Lagos. While rental prices have increased across board, there are still a few locations where young people can find decent apartments with rental values below one million naira per annum.

In this article, we have profiled and ranked locations where annual rental values for 1 bedroom apartments are still under one million naira, and what makes them attractive for young renters. We adopted a number of metrics including infrastructure, average rental price, availability of power supply, proximity to the CBDs, and overall security/neighborhood serenity in ranking these locations.

Ikeja GRA

Ikeja emerged as the top location to rent a 1 bedroom apartment in Lagos. Based on our property inventory within Lagos’ capital area, the average asking rent for 1 bedroom apartments in Ikeja is N800,000 per annum. So far, Ikeja is one of the areas with decent road infrastructure in Lagos with a modest electricity supply compared to the other locations under consideration.

Gbagada

Ranking second on the list was Gbagada. The average asking rent for 1 bedroom apartment in Gbagada is N650,000 per annum. Outside the fact that the neighborhood has a very decent power supply, Gbagada also has quick access to the Island through the Third Mainland Bridge and the rest of the Mainland through Oworonshoki-Oshodi Expressway. The quality of power supply, affordability, centrality, and accessibility of the neighborhood all come together to make it a choice location to rent an apartment.



Magodo

The average asking rent for a 1 bedroom apartment in Magodo today, is N800,000 per annum. Among other things, Magodo is most notable for its serenity and the decency of the apartments within the estate. Magodo is one of the affluent neighborhoods on the Lagos Mainland, a well-organized estate which has since been modernized and now hosts some of Lagos’ most affluent and middle class.

Yaba

Yaba has over 8 tertiary institutions and a number of technology hubs within it attracting a large population of young people. Due to its proximity to Victoria Island and other business areas in Lagos where the bulk of young people in Lagos work, Yaba is dubbed a residential hub for the younger demographic. As of today, the average asking price for 1 bedroom apartments in Yaba is N700,000 per annum and based on our ranking, Yaba is the 4th best location to rent 1 bedroom apartments for less than 1 million naira in Lagos.

Surulere

Surulere is perceived as a middle-class neighborhood in Lagos supported by pockets of industrial and residential activities. Young people and the middle class in Lagos now like to live there because of its relatively centrality and close proximity to Lagos Island and Victoria Island.  Based on our database, the average rent for 1 bedroom apartment in Surulere is N650,000 per annum, and Surulere ranks 5th in our list of top locations to rent 1-bedroom apartments for less than 1 million naira in Lagos.

You can follow us on LinkedIn and Instagram to get more insights into what is happening in the Nigerian real estate market. Send us your comments and feedback to research@buyletlive.com and we will like to keep in touch.



15th July, 2022

2 minutes, 44 seconds read

How Investing in Real Estate Can Help You Build a Diversified Portfolio

According to Fundrise and Investopedia, since April 2020, the stock market around the world has not been at its best. Investors are voraciously searching for ways to reduce fluctuation in their portfolios to make them more resilient. The option of diversification aids this process. Below, we explore some of the ways you can glean from diversifying into real estate.

What Is Diversification?

Maximizing returns is the goal behind diversification. The saying, “don’t put all your eggs in one basket” is essentially an appeal for diversification. From the finance perspective, it is the process of mixing various asset classes within an investment portfolio. 

An asset class is a group of investments that have similar characteristics and are subject to the same laws & regulations. The risk profile attached to assets in the same class fall in similar ranges. Typically, you should only invest based on your risk appetite. That means before you invest, ask yourself- “how much risk can I afford to take on this asset”? This is why you should research the risk profile for assets you invest in. Some asset classes are Shares, Bonds, Commodities, Properties, and Cash.

 

How Will Investing in Real Estate Diversify Your Portfolio and Yielding ROI?[1]

Real estate historically has strong returns, making it a valuable choice for diversification. Unlike stocks, real estate has longevity which means that it matures over time. You can always expect its value to appreciate. Real estate also falls in the low-risk asset class which encourages consistent and sustainable returns over a longer period. Basically, your real estate investment can provide for others after you. The advantage is that depending on your risk appetite, you can mix aggressive and low-risk assets in your portfolio. It creates a baseline that will buffer impact and enable more returns. Real estate is also popular for its ability to generate passive income. It will get you cash flow for your retirement years.

Another benefit of investing in real estate is being able to build equity. Equity is an asset that is part of your net worth. Real estate can also be a good hedge against inflation and gives you leverage to acquire more property.

 

How to Use a Mix of Real Estate Assets to Diversify Your Portfolio


Experts recommend a 60/40 split when diversifying portfolios, allocating 60% of capital to stocks and 40% to fixed-income investments such as bonds. Real estate bonds are fixed-income investments or loans, backed by real property. Some other options to invest in real estate are private equity funds, publicly-traded REITs (Real Estate Investment Trusts), and DIY by purchasing directly from other real estate platforms.

As an independent investor doing it yourself, selecting the right piece of real estate to invest in is a vital part of the process. When choosing, you need to do thorough due diligence. If you use a real estate platform, consider the structure of service, the actual value of properties on offer, and process management expertise. We recommend using one that has both local and international appeal. That way, those in the diaspora can invest in properties. A proven track record is a good standard to rely on.

BuyletLive.com is an excellent reference for a real estate marketplace that fulfills these conditions. Using a seamless process, users can purchase properties. Agents’ posts are advertised through Buyletlive’s paid effort, addressing potential local & international customers. This helps agents gather more leads and users connect faster to properties for sale. The properties posted are thoroughly verified to ensure that their current state keeps up with maximum standards. There is also dedicated customer service available to handhold a user through the entire process and manage every inquiry.

 

Want to see for yourself? Check today’s properties here.



[1] ROI- Return on Investments. It means profits.