By Tolulope Oke
Managing Partner of a leading real estate firm, Joe Etoniru and Associates, Mr. Chidi Etoniru, has said the Real Estate Investment Trust, REIT, offers an alternative way to invest in property.
He explained that REIT does not just own property, but manages property on behalf of shareholders.
Etoniru said this yesterday in Lagos while briefing newsmen on the latest innovations in the industry by his firm.
His words:” One of the steadiest sources of legitimate wealth is an investment in real estate. At some point, your mind pictures having houses and lands. You probably tell yourself it isn’t as easy as it sounds and forgets totally about the idea. But the truth is that you also probably never heard that you can invest in real estate without buying a property or becoming a landlord.
“You don’t need a lot of money for this investment. Before we dive deep into this investment opportunity, let us get familiar with it. One of the investment opportunities that real estate offers is Real Estate Investment Trust, REIT. People hardly talk about it because lots of individuals are not aware of the possibilities locked in it. REIT is a company that owns and, in most cases, manages a property on behalf of shareholders.
“Essentially, real estate investment trusts offer an alternative way to invest in property. If you’re considering investing in buy-to-let, REIT is a good option since it has the benefit of giving you access to a portfolio of property without having to own a single house and without the complications that accompany being a landlord. REITs allow investors to share ownership in non-residential property like hotels, malls, and commercial property.”