The first question that comes to your mind is what on earth is land banking?
I will tell you
Land banking is simply investing in landed properties. In this way, you won't be given the physical land. You are saving your money to the value of that land.
Let me use a conversation to give you an example
Miss A: Hello Miss B, can I talk to you?
Miss B: Sure, why not?
Miss A: ok, thanks. I have #3,000,000(Three Million Naira) in my account and I have been thinking of the kind of business to venture into. I need your advice
Miss B: oh, really? Heard of Land banking?
Miss A: Nope, what is it about?
Miss B: Land banking simply means land investment. And my company, PWAN (A real estate company) offers such opportunity. When you invest this #3,000,000(Three Million Naira) for a period of 12months, you will get 40% profit i.e extra #1,200,000(One Million, Two Hundred Thousand naira)
Miss A: Really?....So my money will just be there working for me?
Miss B: Exactly, that's it. It shows you are following
Miss A: So what are the documents I am entitled to after payment?
Miss B: Simple, my company will give you Receipt of payment, Contract of Sales, and a cheque upfront with your actual capital + your 40% profit, dated same day you made payment the next year. So on your cheque will be #4,200,000 (Four Million, Two Hundred Thousand Naira).
That's a simple illustration of the land banking.
PWAN is a real estate, information and network marketing company. Here we refer to the land banking as BUY TO SELL. Where you allow your money work for you. Instead of letting that money in your account to be constant, why not give "PWAN BUY TO SELL* a try and thank me later. This can be done in any of our offices across Nigeria.
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This is similar to what DIG chain will be doing on block chain. Fractional ownership on land.
Lets hope we see some use cases very soon.
Yeah