Christine Mabel posted: " I have always seen my father prioritizing investing in real estate. His first property, he made the bricks himself and put up our house, and a school. Growing up, he increasingly invested in real estate. Sometimes he would over invest that we would" Girlfriends
I have always seen my father prioritizing investing in real estate. His first property, he made the bricks himself and put up our house, and a school. Growing up, he increasingly invested in real estate. Sometimes he would over invest that we would actually feel his financial struggles at home and the time for going back to school. This paid off when we were in high school. He would collect money from his rentals to top up the income from other sources and pay our school fees. After giving each of us school fees and basic needs (soap, sugar, shoe polish, books etc. etc.) he assigned each of us a stubborn tenant, for us to collect dues and use those funds to take care of the other requirements and drove away for like a week. We therefore had to struggle, each of us to collect the money, otherwise you will watch your siblings go back to school while for you are still struggling with your tenant. It was a lesson.
When I started working, my father emphasised that I save some money and buy myself a plot of land. Truth is, I always thought that my salary was too little and that I can never afford land. Of course I was always looking at prime property in places like Ntinda, Namugongo etc. because it's where I was staying. So I kept dodging my father's cries hoping that one day I will get a job that will pay me a lot of money that I will be able to save and buy the land I wanted. In 2016, my brother calls me and says he was having an opportunity of buying some land. There were 11 acres and he was buying 4 of them and remaining land was available. It was very affordable although very far, deep into the village. I had some money on my account, I took a loan advance at work and topped up to go get the land. It was indeed very far, but because my brother had convinced me, and also my cousin had mentioned that land is never far as long as it's your own plus the excitement of owning property, I made the decision to buy. Unfortunately, after measuring, we realised that it was only 5 acres remaining and the land was 9 acres and not 11 acres. Plus my brother had a friend who also begged us to allow him take 2 acres. Therefore my brother got 4 acres, I got 3 acres and the friend got 2 acres. The happiness, the excitement of owning land.
I told my father about it, he was happy but not excited. Now, his subsequent phone calls were asking; "what are you doing with your land?" I said; "Daddy, the land is very far, but I am planning to plant trees and leave it there for now". The next phone calls were asking; "Have you planted the trees on that land?" I said; "Daddy, give me sometime, I am going to do it." Well, I have not done it till today and he is proly disappointed in me. 7 years down the road and I have not done anything with the land. I visit once in a while to make sure there are no squatters. I recently decided that I should sell the land. I told my old man about it and he was in agreement. He rarely agrees to selling personal property but this time round he was very positive. I am still looking for a buyer by the way… Although I keep thinking that if I had planted the trees 7 years ago, right now I would be harvesting the trees and the land, this would give me much better proceeds. Anyways, putting the regrets aside, I am happy I invested in the land because the value has gone up significantly.
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