ilemi

For many Nigerians in the diaspora, owning property back home is more than an investment; it’s a legacy. Lagos, as the country’s economic heartbeat, offers unmatched opportunities for wealth growth. Yet, even the most financially savvy investors abroad often fall into costly traps when buying or managing Lagos properties remotely.

Here are the five most common mistakes — and how to avoid them.

1. Trusting Informal Agents or Family Connections Without Verification

Many diaspora investors rely on a friend, cousin, or “trusted” local contact to handle property transactions. Unfortunately, this informal approach often leads to misrepresentation, inflated pricing, or even outright fraud.

What to do instead:
Work only with verified property professionals and registered management firms. A reputable platform offers transparent processes, due diligence, and proper documentation — all digitally accessible from anywhere in the world.

2. Ignoring Title and Documentation Checks

In Lagos, title verification is not a formality — it’s essential. Many buyers skip detailed checks, assuming all land with a “receipt” is legitimate. Later, they discover disputes, double allocations, or encumbrances.

What to do instead:
Ensure legal due diligence before any transaction. Confirm Certificates of Occupancy (C of O), Governor’s Consent, and land registry records. A good property management partner will help you verify titles and keep all paperwork safely digitized.

3. Underestimating Ongoing Property Maintenance

Buying the property is the easy part — maintaining it is where most investors lose value. Without professional oversight, properties quickly deteriorate, reducing rental income and resale potential.

What to do instead:
Engage a reliable property management firm that handles regular maintenance, inspections, and tenant relationships. With the right system, you can monitor upkeep and performance through detailed reports — all remotely.

4. Not Considering Rental Yield and Market Data

Diaspora investors sometimes buy properties based on location prestige or emotional ties rather than data. This can lead to poor yield or low occupancy.

What to do instead:
Invest with a clear ROI-driven strategy. Analyze rental yields, market demand, and appreciation potential across Lagos neighbourhoods, from Ikoyi and Banana Island to emerging zones like Ibeju-Lekki and Oniru.

5. Lacking a Structured Oversight System

Real estate in Lagos can thrive, but only with structure and accountability. Without a digital system for rent collection, maintenance tracking, and reporting, investors are left in the dark.

What to do instead:
Adopt tech-enabled property management solutions. With secure dashboards and performance analytics, you can see what’s happening with your asset portfolio in real time, no matter where you are in the world.

Final Word

The Lagos real estate market remains one of Africa’s most lucrative, but it rewards diligence, structure, and transparency. Avoiding these five mistakes can mean the difference between frustration and long-term success.

If you’re ready to invest or manage your Lagos properties with confidence, consider partnering with a trusted property management platform like ilemi, that specialises in diaspora investors, one that ensures every naira you invest is protected and performing.