News Success Story June 22, 2020 at 11:00 am

Five friends saved $200 a week for two years to buy a property

Ama Nunoo June 22, 2020 at 11:00 am

June 22, 2020 at 11:00 am | News, Success Story

Photo: Amebo Book

“Little drops of water make a mighty ocean” is a saying that means that to attain something great, one must put in the work no matter how small because eventually, the goal will be met no matter how long it takes. That is exactly what Najee Hannigan set out to achieve with his friends and cousins when he encouraged them to save $50 a week to gain enough capital to make an investment together.

Saving $200 a month seems meagre but multiply that by five people for a period of two years, Hannigan and his crew have successfully purchased their first real estate property two years down the line.

This is the outcome of strength in numbers on the back of the African proverb, “If you want to go fast, go alone. If you want to go far, go together.”

In 2017, Hannigan, 26, convinced his two little cousins, Meqai Herder and Ahmid Hill, both 23 years old and two of his childhood friends, Tyree Harvey and Darius Jacobs, who are both 26, into becoming young property owners together.

Accountability also played a big part in helping each other attain their common goal of becoming young entrepreneurs and making their money work for them. Every Friday over the period they would send in their money.

“We need to understand the concept of paying ourselves first,” Najee explained. He said this mindset was important. The most challenging part was getting them to understand that time is going to pass regardless, we can invest in [ourselves] or continue to let time pass us by,” Hannigan told Because of Them We Can.

The five who are an epitome of friendship goals after buying their first property have plans of renovating it before renting it out. The group has also established a property management company and hopes to buy more properties in the near future.

Moving into a new venture can be scary, especially thinking of all the risks involved but Hannigan, who is also the founder and co-owner of the childcare center Extraordinary Scholars Academy was grateful his friends put their faith in him and trusted him.

“Find people you trust and never give up. Do not argue about dumb stuff and always think of the bigger picture. Giving up something like cable or clothes for a year or two can put you in a position to have it [for] a lifetime.”

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