Most people on this app are pretending.
I’m building real businesses.
Here’s what I’ve learned about:
• Real estate
• Shortlet industry
• Startups
• Making money in Nigeria
Follow if you want the truth.
Poor pricing strategy; your shortlet business can be very profitable if you price it properly.
But only if you treat it like a real business and not a side hustle.
Most people entering the industry are not ready for that reality.
Most people entering the shortlet business in Lagos right now will lose money.
Not because the industry is bad.
But because they misunderstand how it actually works.
Let me explain.
Thread 🧵
Fourth mistake: underestimating expenses.
Cleaning
Maintenance
Utilities
Agent commissions
Repairs
Staff
These costs add up quickly.
Many people only calculate rent.
That’s a big mistake.