Provision Of Students Accommodation Is Still A Money Spinner
Eight years ago (December 2004, and then in January 2005 editions of SuccessDigest) we exposed this business opportunity to our readers. Eight years on, we can tell you authoritatively that this business is still a money-spinner for anybody to tap into. Research conducted recently by SuccessDigest reveals that massive opportunities still
abound around all our tertiary institutions for smart people to enter this highly lucrative and secure investment. For this reason, we’ve decided to revisit this story and bring this evergreen business opportunity to your awareness once again.
This is the cover of the December 2004 edition of SuccessDigest in which we published the Students Hostel Opportunity for the first time Are you looking for how to secure your money so that you, your children, and generations unborn will benefit from it or looking for how to safely multiply your money without stress?
If you answered ‘yes’ to any of these two questions, then we recommend you seriously consider investing in providing Students accommodation. In a recent chat with Mrs. Patience Ilaboya, a smart real estate entrepreneur who started her real estate businesses from the scratch as a result of a similar story she read in SuccessDigest sometime in 1998, she confirmed that there are lots of opportunities for more Nigerians to invest in providing decent hostel accommodation for students of tertiary institutions across the country as Government and the school authorities cannot do it all alone.
Mrs. Ilaboya, whose 60-room hostel around UNAAB, University of Agriculture, Abeokuta, Ogun State can compete with any of the best student hostels nationwide, remarks: “Most government institutions don’t have adequate hostel accommodation for their students. So if you build your hostel around any of these government institutions, you will definitely make it.
The location of the hostel must be very close to the school, as students won’t be willing to take accommodation that is far from their schools because of the cost of transportation. Private universities usually have hostels for their students within the school premises, they don’t allow their students to come from outside. She counsels, “Do not wait till you have all the millions before you start. If you do so before you know it that millions that you have saved will be spent on something else.
Do not put the money first. Once you’re convinced about the idea and you know what to do,
strive to buy your plot(s) of land first. Then start erecting the structure gradually. You don’t
have to rush it, just go little by little. Anytime you have a good amount of money, go and
invest it there. And before you know it, you are done building your hostel.”
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