Ajibade Paul
New member
At the Platform Nigeria organized by Pastor Poju Oyemade, Dr Gabriel Ogbechie, the founder of Rainoil Ltd shared a story of how the value of one of his real estate properties skyrocketed.
According Dr Ogbechie, he acquired a petrol station along Ipaja Road in October 2001 for ₦12.8 million and rebranded it to Rainoil.
This particular fuel station happened to be his second outlet in Lagos after he acquired the first one in Agege.
In one of his visits to Lagos Country Club, a senior colleague in the oil and gas sector approached him to ask why he wasted that amount of money to acquire the fuel station along Ipaja for that amount.
He literally asked him if he was normal.
But Dr Gabriel Ogbechie knew what he wanted.
Today, that same property is worth over ₦500 million and has generated hundreds of billions of revenue since then.
The most amazing part is that it won’t stay longer than two weeks if he puts it out in the market today.
Why?
Two reasons:
— Strategic positioning
— And he knew why he bought it
That same station has been selling over 15,000 litres of fuel every single day for years now.
When people say that real estate can’t make you rich, it’s because of two things:
— They don’t understand the difference between doing real estate as a business and as an investment. Both are not the same
— They don’t know how to identify an emerging location before other people gets there
Just like every business and investment, you may lose money at some point BUT the more you acquire knowledge, the less losses you will record.
Every time you fail to invest in knowledge before starting a business or making an investment, your capital becomes your training fee. WRITE IT DOWN.
This won’t change because it’s real estate.
Prioritize knowledge. But some of you won’t listen.
Real estate remains one of the best ways to protect your money.
Real estate can make you rich and richer.
But that can’t happen if you keep buying properties just because you can afford it. It has to be from a place of knowledge.
When I’m done teaching you real estate investing, you can decide to buy from me or from anyone else. But my guarantee is that you will never make an avoidable mistake if you apply what I will tell you.
Had it been that Dr Gabriel Ogbechie chickened out because a senior colleague in the oil and gas sector (who supposedly knew the industry better) told him that the property he bought was a bad investment, his investment portfolio won’t be as strong as it is today.
Always prioritize knowledge in everything you do.
Take care.
According Dr Ogbechie, he acquired a petrol station along Ipaja Road in October 2001 for ₦12.8 million and rebranded it to Rainoil.
This particular fuel station happened to be his second outlet in Lagos after he acquired the first one in Agege.
In one of his visits to Lagos Country Club, a senior colleague in the oil and gas sector approached him to ask why he wasted that amount of money to acquire the fuel station along Ipaja for that amount.
He literally asked him if he was normal.
But Dr Gabriel Ogbechie knew what he wanted.
Today, that same property is worth over ₦500 million and has generated hundreds of billions of revenue since then.
The most amazing part is that it won’t stay longer than two weeks if he puts it out in the market today.
Why?
Two reasons:
— Strategic positioning
— And he knew why he bought it
That same station has been selling over 15,000 litres of fuel every single day for years now.
When people say that real estate can’t make you rich, it’s because of two things:
— They don’t understand the difference between doing real estate as a business and as an investment. Both are not the same
— They don’t know how to identify an emerging location before other people gets there
Just like every business and investment, you may lose money at some point BUT the more you acquire knowledge, the less losses you will record.
Every time you fail to invest in knowledge before starting a business or making an investment, your capital becomes your training fee. WRITE IT DOWN.
This won’t change because it’s real estate.
Prioritize knowledge. But some of you won’t listen.
Real estate remains one of the best ways to protect your money.
Real estate can make you rich and richer.
But that can’t happen if you keep buying properties just because you can afford it. It has to be from a place of knowledge.
When I’m done teaching you real estate investing, you can decide to buy from me or from anyone else. But my guarantee is that you will never make an avoidable mistake if you apply what I will tell you.
Had it been that Dr Gabriel Ogbechie chickened out because a senior colleague in the oil and gas sector (who supposedly knew the industry better) told him that the property he bought was a bad investment, his investment portfolio won’t be as strong as it is today.
Always prioritize knowledge in everything you do.
Take care.