By Ayo Onikoyi
An American real estate businessman, Founder and Chief Executive Officer of South Park Management LLC, Asahn Guyton has revealed plans to expand his business operations to Nigeria, bringing his expertise to bare on the ever-growing real estate sector of the country, with a view to making available to the people affordable housing in choice environments.
“I actively invest in buying properties, then making repairs or improvements to the properties, and sell it later for a profit, he said in chat with our reporter through a telephone conversation.
“My plans are to invest in Nigeria and expand my portfolio to the Nigerian market and compete with the Chinese as they too are buying and developing in the Nigerian Market, he added.
Continuing, he said, “Lately, I’ve been a passive investor, I just buy a real estate property and hold it to collect monthly rent and let the property appreciate in value.”
But the man who was born in Elizabeth, New Jersey and now resides in Las Vegas, Nevada has a bigger plan for Nigeria as he says he’s not all about profits but comfort and top quality services to rival and surpass competitors on ground.
“Appreciation occurs over time, generally, though an investor may “force the equity” in a property by making enhancements to it or the surrounding environment to increase its value. In general, residential real estate is valued by the “comparable sales” method which estimates the value of property under the principle of substitution. The method estimates property values by comparing a subject property to similar properties sold in similar locations within a recent period of time,” he said, giving an insight to how the residential real estate works but electing not divulge on strategy to employ to break into the market.
Asahn Guyton started his operations in 2014 and currently runs South Park Management LLC and South Park Consultants LLC.