It helps the reader look through the data and make an informed decision.
The pressure to buy land NOW! is something that has been engrained in our cultural upbringing. An asset that some sees is what we have been taught to appreciate more.
In this era of Unit Trust Funds and more financial education.
I see people waiting for three years or more to have the purchasing power to buy these properties and more.
The question then is, can someone wait? Can they be patient to consistently put the same money aside to invest it and have that 92 million.
I was once denied a loan by my bank. I decided ask my friend how much he would pay every month. I chose the option of saving that same amount for 3 years, I only wished I had put it in a Unit Trust fund that would give more interest. It was in a high yield target savings account. But still with that strategy, I bought land debt free and build our home debt free. It's possible. It's about will power and being consistent.
For the land, it took me 3 years of savings 500,000 every month.
In between, I got bonuses and side hustles which I put mainly towards getting the land and I continued with the habit of putting the 500,000 aside for every month. So once I managed to save up to 20 + million, with the land already acquired in 2015, we decided we would build and it took us 3 years because we entered it in 8th April 2018 when it was fairly habitable.
It's a quite a story of just working and doing things at our pace especially knowing that a home is a not an investment but it is also not a bad money decision.
The biggest thing is the issue of self and money management. That discipline is one that is highly required because you will have to forego some things.
Thank you so much for this. I get how the money accumulated in that time and as things stand for me based on that I need to look for ways to increase my income as I am already saving a small sum with a unit trust fund but feel like I can do better. Thank you for sharing again, now let me cook :)
You pushing for unit trusts .Have you taken keen thought of these companies make money? where they based ? who owns them ? Are they listed?
i would rather fly to nairobi and buy a numberal of shares in these companies/ check with dyer and blair Uganda. than getting 10% -12 % on my money HERE
AND YOUR ANALYSIS IS ALWAYS ONE SIDED.
YOU ASSUME LAND WILL NOT APPRECIATE IN VALUE..
TRY ENGAGING WITH Ugandans who are in land buisness or you can compare notes with your landlord.
Making money in Uganda is difficult no need of sophisicated excel sheets to make high return on investment.
IN 10,000 ULTRA WEALTHY UGANDANS, YOU WILL NOT FIND ANY CFA.
IN MY EXPERIENCE land will give you high return on investment than unit trusts.
here is my score card in land buisness in Uganda
30million -2 billion
100million -400 million
100 million - 900million
500 million - 10 billion
1.8 bLilion -31 billion
i look foward to 200 billion GOD WILLING.
IM STILL OPTIMSTIC ON UGANDAN LAND.
WE ARE FIRST GENERATION WELATH CREATORS/HANDAFUL OF THEM
HUGE YOUTH POPULATION EARNING LESS THAN 400,000 UGX LOOKING FOR WHERE TO SETTLE ,TO EARN AND LEAVE SOMETHING TO THE NEXT GENERATION.
I think we are talking about different classes of people.
You are talking about business people who invest and trade in land, buy and sale, and my advise are for those who want to borrow and buy land. I'm highlighting to them that you can save your way to buying that land. In the end the goal is them to buy land, I'm just telling them, instead of taking on a 19% loan, you can actually save and invest in a UT and see your money grow and still buy that plot of land.
This was such an insightful article, my biggest worry would be that in three years the land would probably be worth more than 96m and in such a case, if you are willing to share how is land valuation done because it is not like it has an interest rate or so unlike the unit trust fund. Secondly and this is just for the purpose of discussion, doesn't this go against the principle of the time value of money?...because due to inflation and things like that the 96m would probably not have as much value as the 96m today. Looking forward to your thoughts :)
This comparative analysis is a good one.
It helps the reader look through the data and make an informed decision.
The pressure to buy land NOW! is something that has been engrained in our cultural upbringing. An asset that some sees is what we have been taught to appreciate more.
In this era of Unit Trust Funds and more financial education.
I see people waiting for three years or more to have the purchasing power to buy these properties and more.
The question then is, can someone wait? Can they be patient to consistently put the same money aside to invest it and have that 92 million.
I was once denied a loan by my bank. I decided ask my friend how much he would pay every month. I chose the option of saving that same amount for 3 years, I only wished I had put it in a Unit Trust fund that would give more interest. It was in a high yield target savings account. But still with that strategy, I bought land debt free and build our home debt free. It's possible. It's about will power and being consistent.
I'd honestly like to find out more about this, for instance how much you were putting aside and where you bought the land if you are willing to share.
At the time,
I was putting aside 500k a month. My colleague was paying the same amount of money for his loan.
Since I was denied, I used that as fuel to save.
In between, any bonus or gig I got, I saved 100% of the money to ensure I gathered as much as I needed.
Hello Arthur, thanks for the advice. Between the land and the house, how many years did it take you to save for both?. I'm typing to do the same 🙏🏽
Hello Andrew,
Good evening.
I hope you are well.
Thanks for the query.
- Between the land and the house.
For the land, it took me 3 years of savings 500,000 every month.
In between, I got bonuses and side hustles which I put mainly towards getting the land and I continued with the habit of putting the 500,000 aside for every month. So once I managed to save up to 20 + million, with the land already acquired in 2015, we decided we would build and it took us 3 years because we entered it in 8th April 2018 when it was fairly habitable.
It's a quite a story of just working and doing things at our pace especially knowing that a home is a not an investment but it is also not a bad money decision.
The biggest thing is the issue of self and money management. That discipline is one that is highly required because you will have to forego some things.
Thanks so much Arthur, I thought I was behind track but this encourages me more that I can do better 💪🏽💪🏽
Well done, keep it up.
Thank you so much for this. I get how the money accumulated in that time and as things stand for me based on that I need to look for ways to increase my income as I am already saving a small sum with a unit trust fund but feel like I can do better. Thank you for sharing again, now let me cook :)
Well done Aber,
- You surely have to cook.
The good thing is you are leveraging the Unit Trust Fund to grow your income.
For me I used a high yield savings account but that's what my knowledge was limited too.
You will also have to make some high sacrifices and deny yourself a few good things.
It really takes high level discipline.
If you need more guidance. We can talk.
I wish you the best, I trust you are already on the winning side.
All these hard things are possible.
Regards
Man you have no idea how changing my perspective on investing. Thanks alot
Great and transforming stuff.
Those who have ears should hear, those who have eyes should see.
You pushing for unit trusts .Have you taken keen thought of these companies make money? where they based ? who owns them ? Are they listed?
i would rather fly to nairobi and buy a numberal of shares in these companies/ check with dyer and blair Uganda. than getting 10% -12 % on my money HERE
AND YOUR ANALYSIS IS ALWAYS ONE SIDED.
YOU ASSUME LAND WILL NOT APPRECIATE IN VALUE..
TRY ENGAGING WITH Ugandans who are in land buisness or you can compare notes with your landlord.
Making money in Uganda is difficult no need of sophisicated excel sheets to make high return on investment.
IN 10,000 ULTRA WEALTHY UGANDANS, YOU WILL NOT FIND ANY CFA.
IN MY EXPERIENCE land will give you high return on investment than unit trusts.
here is my score card in land buisness in Uganda
30million -2 billion
100million -400 million
100 million - 900million
500 million - 10 billion
1.8 bLilion -31 billion
i look foward to 200 billion GOD WILLING.
IM STILL OPTIMSTIC ON UGANDAN LAND.
WE ARE FIRST GENERATION WELATH CREATORS/HANDAFUL OF THEM
HUGE YOUTH POPULATION EARNING LESS THAN 400,000 UGX LOOKING FOR WHERE TO SETTLE ,TO EARN AND LEAVE SOMETHING TO THE NEXT GENERATION.
I think we are talking about different classes of people.
You are talking about business people who invest and trade in land, buy and sale, and my advise are for those who want to borrow and buy land. I'm highlighting to them that you can save your way to buying that land. In the end the goal is them to buy land, I'm just telling them, instead of taking on a 19% loan, you can actually save and invest in a UT and see your money grow and still buy that plot of land.
This was such an insightful article, my biggest worry would be that in three years the land would probably be worth more than 96m and in such a case, if you are willing to share how is land valuation done because it is not like it has an interest rate or so unlike the unit trust fund. Secondly and this is just for the purpose of discussion, doesn't this go against the principle of the time value of money?...because due to inflation and things like that the 96m would probably not have as much value as the 96m today. Looking forward to your thoughts :)