Latest News In USA: Five Friends Buy First Investment Property After Saving $50 A Week For Two Years
There’s an African proverb which state, “If you want to go fast, go alone. If you want to go far, go together.” This proved to be true in the lives of five friends who agreed to save $50 a week for two years. Today, they have bought their first investment property.
Philadelphia resident Najee Hannigan, 26, in 2017, devised a plan for his two younger cousins, Meqai Herder, 23, and Ahmid Hill, 23, along with his long time friends, Tyree Harvey, 26, and Darius Jacobs, 26, to save and pool their money together to purchase an investment property.
Hannigan told Because of Them We Can. “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”.
The investment in their future was worth the sacrifice and focus as a group. They each saved $200 a month for two years and in June 2019, they got their first property. Hannigan said, “We plan on rehabbing this property and renting it out.” The friends have started a property management company and have plans to acquire more properties in the new future.
According to Hannigan, initially, his partners couldn’t see his plan but believed in him as he had just opened a daycare and was getting into the entrepreneur mindset. He believes trust is the foundation for others trying to replicate their plan.
“Find people you trust and never give up. Don’t 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.”
On what kept them focused, Hannigan said it was knowing what their outcome would be if they quit.
“We knew that if we gave up at any point that we would end up like everyone else, stuck…”
Click Amebo Book for more latest news in USA.
