Real estate in Cameroon is a multi-billion FCFA business in Cameroon. In fact, it is the highest-paid industry in Cameroon today, and there are many ways you can make money from it.
Recently, I wrote an article on how to start a real estate business in Cameroon, but in that article, I did not mention different ways you can make money from real estate in Cameroon.
In the article, I just mentioned the step-by-step guide on how to start a business. But in this article, I will explain many ways you can make money from real estate in Cameroon.
How to Make Money from Real Estate in Cameroon?
Here are the ten top best ways you can make money from real estate in Cameroon:
1. Buy and Sell Land
One of the surest ways you can make money (multi-million FCFA) from real estate in Cameroon is to buy and sell Land. You do not need to start by buying and selling lands costing millions of FCFA.
You can start small by buying cheap land in low-development areas to sell later. You need a starting capital to create this kind of real estate business in Cameroon.
With a capital of 2,000,000 – 10,000,000, you can start buying and selling Land in any of the regions in Cameroon. For example, if you purchase Land for 2,000,000 XAF, you can wait till it appreciates for some time and then sell it when it is worth 5,000,000 XAF.
After that, you can buy another piece of land worth 4,000,000 and sell the Land for 7.5 million XAF when it appreciates. The best thing about buying and selling lands to make money from real estate is that the more money you use to purchase the grounds, the more profits you will make.
Buying and selling Land in Cameroon will not make you money daily, but per deal, it can make you millions as time passes.
2. Buy and Sell Houses
This is another way you can make money from real estate in Cameroon if you do not want to buy and sell lands. However, this kind of real estate demands very high capital.
This capital can run into millions of FCFA. To start making money from real estate buying and selling houses, you can begin buying homes in the low-brow areas to sell, and as time goes by, you can start to purchase luxury houses to sell.
To make massive money from buying and selling houses in Cameroon, you will need to refurbish them to increase their cost value.
For example, you can buy a bungalow, renovate it by painting it and putting paving stones in its compound, and then sell it at a higher price.
Read Also: Types of Houses in Cameroon.
3. Put your Apartments on Rent
Do you own a house, boy's squatters, or an apartment? You can make money by placing these houses or apartments for rent. You can put these apartments on yearly rent or monthly rent or air BnB.
The decision is left to you. However, I will strongly advise you to go for yearly rent instead of monthly because it makes how much you will be paid bulky.
If you are putting your apartment on rent, there are a few things you need to do. The first is to make sure the house or apartment is in good condition and beautiful.
4. Lease your Land or Houses
If you already own land in Cameroon and you do not have the money yet to develop the ground, you can lease your Land to people that want to use it as a farm or people that want to use it as a mechanic shop.
You can lease your Land for 2 years, 5 years, 10 years, or even 20 years. It depends on how soon you might change your mind about the lease agreement.
Depending on the duration of the lease and where your Land is located in Cameroon, you can make up to 25 million – 50 million in leasing one Land.
Land leasing is one of Cameroon's most common ways to make money from real estate. However, many landowners are scared of this for unknown reasons.
Secondly, you need to make sure you renovate the apartment often. This is to ensure the house is rented at a higher market value. From what I have seen in Douala, Yaounde, Buea, and Limbe, many landlords only care about rent and leave their houses in harmful conditions.
This is not good. Every landlord should treat their house as a business. If they do, they will always set aside money to maintain the house and put it in its normal state.
5. Become a Real Estate Investor
Another way you can make money from the real estate business in Cameroon is to become a real estate investor. This option is perfect for you if you are just starting in the real estate business.
To make money as a real estate investor in Cameroon, all you need is money to invest in a real estate company. This real estate company will use your and your co-investors' money to buy landed properties.
When these landed properties are later sold with appreciation, you will be paid the money you have invested into the company and the return on investment (ROI) your money has made.
I have participated in this kind of real estate business, which was absolutely fantastic. Just make sure you take your time when you want to go into it so that you will not be swindled of your money or disappointed.
6. Become an Estate Agent
If you want to make money from real estate in Cameroon regularly, do not own houses, or have money to invest, you can become a real estate agent.
A real estate agent is a person who helps people looking for apartments to get apartments. He or she is paid to look for available apartments in an area on a budget.
When this apartment is finally chosen, and house rent is paid, the estate agent will get an agency fee of about 5% – 25% of the house rent.
Depending on the kind of customers and the kind of apartment you get for your customers, you can make millions as a real estate agent in Cameroon.
7. Become an Estate Developer
Another way to make money from real estate in Cameroon is to become a real estate developer. As a real estate developer, you can make money helping Cameroonians to build their houses.
To be an estate developer in Cameroon, you do not need to be a civil engineer or have any qualifications. All you need is to learn about buildings, how they are built, and how to become a real estate developer.
This handwork usually takes 1 – 3 years to learn, but when you are done, you can start getting paid for building houses for people. How much you make as a real estate developer depends on the area you work in and the kind of customers you meet.
8. Buy and Sell Building Materials
Supposeppose you like running a business and consider it a way of making a stable income for you and your f. In that case,mily. In that case, you should consider the building to make as a way of making money from the real estate in Cameroon.
Because the need for houses can never end, the supply of building materials will be unending. To start a building material business, you need capital. This capital can range from 2,500,000 – 25,00,000 XAF.
Asides from the capital, you also need the proper connection. With the appropriate connection, you can win a considerable contract even on the first day of starting your business.
9. Become a Building Manager
You can also make money from real estate in Cameroon by becoming a building caretaker or building manager. The job of a building caretaker is to manage buildings, ensuring they maintain their original state for a more extended period.
As a building manager, your job is to ensure that the buildings under your care maintain their original market value. You will be paid to paint the building, repair plumbing faults, electrical faults, and more.
If you manage so many buildings as a building caretaker, you can make good money from the real estate.
10. Start a Real Estate Company
Lastly, you can make money from real in Cameroon by starting your own honest company. Yes, you need to register your real estate company under the corporate affairs commission (CAC), describing all you want to do as a real estate company and start the business.
If you do not have huge capital to buy and sell properties, you can start your real estate business by helping houses, and landowners get customers who will buy their landed properties.
And as time goes by, when you have your starting capital, you can acquire land to build properties to sell.
Read also: Investment Opportunities in Cameroon.
Conclusion
These are the top ten ways you can make money from real estate in Cameroon. If you choose one of these ways and you can master the sales technique, you should be able to make millions from the real estate in Cameroon within a short period.
Suggested: Confidence Real Estate Cameroon.