Everyone agrees we are living in unprecedented times for two years. Most businesses are slow, save for essential businesses such as health care, retail, home care, food, and cargo transport. And when it comes to teachers, the world closed its door behind us.
I am a school teacher in a private school in Wakiso district. Before the first lockdown in March of 2020, life was normal for most of us. I had saved sh20 million, and my biggest worry was being caught between buying a plot of land or a car. Land around Wakiso is fast rising in price and therefore, sh20 million meant I would get a plot a bit inside. I would be left with a plot without money to build. The money was however enough to buy me a second-hand car in good health – a symbol of achievement for a simple teacher, a son of a Mpigi peasant. I was actually more persuaded by the car buying idea.
Then, Covid-19 hit. The next thing was President Museveni announcing school closures. Then, national lockdown. Schools have never recovered.
That is when it hit me that I was going to consume all the money I had saved. I read a story on Watchdog website about a new low cost Kabaka estate opening in Sentema. Sentema is in Wakiso district and near the school where I teach. I physically went to tour it. I was amazed at the level of expertise on the construction site and the quality of the material.
At first, I wanted to buy a unit for myself, then, I feared, I don’t have all the money they were asking for. At the time, the first offering for a one-bedroom was about ugx45 million. The same unit has gone up to sh52 million in the same estate from Mirembe Estate offices. However, I had made this gamble…
I went to Mirembe Villas office at Garden City and was taken through the procedures. I realized with a deposit of sh20 million, I would be good to go. I however needed to make two extra deposits in two years, which in my assessment was okay – because I had a small plan.
With documents about my house in hand, and a house almost ready, I told a friend in South Africa about my project. The friend advised me to sell the house to raise the full amount to pay off another house in the same Mirembe Estate Sentema. It sounded a little unconventional. But I started looking for a buyer. I got one in Boston. Mukasa Samuel wanted to invest his money in something that gained value. Everyone knows real estate is one of those few investments whose value keeps growing. I shared my documents with Mukasa and his wife who lives in Makindye. He wired sh55 million on my account. I went fast to clear my outstanding bills with Mirembe Villas office and was given my documents, including 99 years lease title, house plans, and keys to my house. They also helped me to facilitate the transfer to the new buyer. What I did, I immediately deposited sh25 million on a new house. I didn’t need to return to the site because I know it very well.
When I returned home, my wife was amazed at what I had just done. That is when it hit us that we can start contacting our friends who had some idle money sitting on their accounts to start investing in these houses. We did this at a small profit.
I started booking properties, growing from one, to the two and three roomed houses.
The biggest benefit has been the opportunity to gain interest in the real estate business. I have used this time to rethink my career and I have registered a company to do real estate brokerage. I have so far bought seven houses in Mirembe Estate Sentema. And I have acquired a few plots in different Wakiso areas.
I use my network and social media to market my properties and so far so good. In the near future, I want to buy more houses in the estate and rent them out to ensure I have a constant cash flow.
Contact Mirembe Villas
Hotline: +256 414 696 368
Email: info@mirembevillas.co.ug
Office: Garden City Shopping & Leisure Centre, Shop LG5, Plot LR 64/86 Yusuf Lule Road
+256779217421/701252756/706445783/751735401/783222708/705332617/702817066/750651558
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