If you have a thousand dollars, that's about N1.6 million of the Nigeria Currency. I don't want you to venture into something too volatile that will put you into much risk but something that will grow into much profit within 5 years.
Look around, it might not be in your vicinity. Get a land, you can do two things with this land. Build on it or farm on it. Such amount should get you up to a plot of land depending on the location.
Within a year, you would have harvested your produce and replanted. That's the first way to make profit. If you built a house, assuming you have enough money then you would have gotten your first rent too.
Either you planted or you built a house, you can sell the property in years to come when it appreciates. You should sell at the right time and invest somewhere else. Building will lose value at some point. The cost of renovation too is there so don't stress yourself. You can just buy, build or plant and sell from 10 years upward.
However, there are risks that come along with this idea but something that can be handled. So make your research before taking your decision.
Look around, it might not be in your vicinity. Get a land, you can do two things with this land. Build on it or farm on it. Such amount should get you up to a plot of land depending on the location.
Within a year, you would have harvested your produce and replanted. That's the first way to make profit. If you built a house, assuming you have enough money then you would have gotten your first rent too.
Either you planted or you built a house, you can sell the property in years to come when it appreciates. You should sell at the right time and invest somewhere else. Building will lose value at some point. The cost of renovation too is there so don't stress yourself. You can just buy, build or plant and sell from 10 years upward.
However, there are risks that come along with this idea but something that can be handled. So make your research before taking your decision.
