Inculcation into the real estate When I was growing up, my father always reiterated that his was to bring me up, educate me properly and set me up for life. If I wanted something of my own, I had to get it. Seeing I am the first born, he obviously did not wish for me to hand around when I am grown and educated awaiting the morsels from his investments. He was acquiring pieces of land in far off places through his Sacco, which he’d take us along once in a while to “see”. These parcels were in bushy areas, mostly uninhabited and quite inaccessible. Often, we had to leave the car a kilometer or more far up and walk the rest of the distance. In my naivety, I always wondered why he insisted on strutting us along, to those far off places. In the interim. Mr Big Shot in our neighborhood has acquired the plot near the bus station, and is planning to bring up a building, Mr Loud Mouth has acquired one just off the estate fence and wants to construct a hotel…..why the fuss? It seemed so pointless. As we grew older and demands for fees became a personal issue (doesn’t usually hit you when in primary school), my father would just advertize for sale one of the (then far off, now quite inhabited area) plots and whoa!! there is money. Heck, there was even money for holidays down coast! That became the trend for me and my siblings. Surprisingly, my parents continued to invest in property even when they offloaded others. There is a lesson there! Their current house (and it’s a sight to behold) was a conglomeration of land parcel sales, which happened even before the last kid was out of school. Did I say there’s even a beach plot at Kikambala…? Group investments As I started working, I was still reluctant to go into real estate, it seemed so old-style. I believed employer products would be sufficient. A few years into employment, and it started hitting me that no one will come to my investment and financial growth. If I needed to be financially independent, I had to get my act together and put money away for that. Employment can be a vicious cycle of earn-and-spend. I cannot pride myself to have reaped the full potential in this market but in the last five years, I have had tremendous investment in real estate by myself or with other likeminded individuals. I have also learned a lot about it, through research, associations and participation that I am now using it to advice others, e.g. Saccos, chamas etc. Investment in real estate is rewarding if done properly and mostly does not require babysitting like other business ventures. Hence, so long as you have a source of income, you can invest in it without compromising that source of income. So long as the initial research/decision is rational, and the transaction is clean, the rest is a matter of patience, just a bit of that! I have not been in an investment club like Pamoja. However, I am looking forward to the challenges and benefits that come with numbers and common interest. Being a project manager by profession, I will be looking at the best practices, highest levels of integrity and maximum returns.
Inculcation into the real estate
ReplyDeleteWhen I was growing up, my father always reiterated that his was to bring me up, educate me properly and set me up for life. If I wanted something of my own, I had to get it.
Seeing I am the first born, he obviously did not wish for me to hand around when I am grown and educated awaiting the morsels from his investments. He was acquiring pieces of land in far off places through his Sacco, which he’d take us along once in a while to “see”. These parcels were in bushy areas, mostly uninhabited and quite inaccessible. Often, we had to leave the car a kilometer or more far up and walk the rest of the distance.
In my naivety, I always wondered why he insisted on strutting us along, to those far off places. In the interim. Mr Big Shot in our neighborhood has acquired the plot near the bus station, and is planning to bring up a building, Mr Loud Mouth has acquired one just off the estate fence and wants to construct a hotel…..why the fuss? It seemed so pointless.
As we grew older and demands for fees became a personal issue (doesn’t usually hit you when in primary school), my father would just advertize for sale one of the (then far off, now quite inhabited area) plots and whoa!! there is money. Heck, there was even money for holidays down coast!
That became the trend for me and my siblings. Surprisingly, my parents continued to invest in property even when they offloaded others. There is a lesson there! Their current house (and it’s a sight to behold) was a conglomeration of land parcel sales, which happened even before the last kid was out of school. Did I say there’s even a beach plot at Kikambala…? Group investments
As I started working, I was still reluctant to go into real estate, it seemed so old-style. I believed employer products would be sufficient. A few years into employment, and it started hitting me that no one will come to my investment and financial growth. If I needed to be financially independent, I had to get my act together and put money away for that. Employment can be a vicious cycle of earn-and-spend.
I cannot pride myself to have reaped the full potential in this market but in the last five years, I have had tremendous investment in real estate by myself or with other likeminded individuals. I have also learned a lot about it, through research, associations and participation that I am now using it to advice others, e.g. Saccos, chamas etc. Investment in real estate is rewarding if done properly and mostly does not require babysitting like other business ventures. Hence, so long as you have a source of income, you can invest in it without compromising that source of income. So long as the initial research/decision is rational, and the transaction is clean, the rest is a matter of patience, just a bit of that!
I have not been in an investment club like Pamoja. However, I am looking forward to the challenges and benefits that come with numbers and common interest. Being a project manager by profession, I will be looking at the best practices, highest levels of integrity and maximum returns.
interesting this is so inspiring,opens up eyes..thank you .
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