DECISION MAKING — A Sad Story of Mr K

 

DECISION MAKING — A Sad Story of Mr K

Because of my exposure to real estate, I have seen many sad stories. I have seen people with a lot of money, and I have also seen people who once had a lot of money and are now suffering.

What I have learnt is this: money comes and goes, but wise people invest in real estate. However, you also need wisdom when investing in real estate.  

My personal model is simple: smaller and multiple investments.

Mr K had worked for 38 years in another city for a certain company. Because of age, he retired, sold his house, added his retirement package, and had about USD 280,000. He wanted to relocate to Harare.Mr K came to my office for advice, and I gave him one.

My advice was:

• Buy a 400sqm stand in Tynwald  

• Build a comfortable home  

• Install solar, steel tanks, borehole, and proper water storage  

• Live comfortably without pressure  

I also told him:

“It’s not about the location, it’s about the lifestyle.”

I advised him to spend:

• Around USD 25,000 for the stand  

• Around USD 60,000 for the house  

Then use the remaining money to buy two more stands and build investment units that could generate around USD 2,400 per month.

Mr K was very happy with the advice. He then went to bring his wife so we could discuss together.

When they came back, the wife asked me one question:

“Who doesn’t want to stay in Borrowdale? I want views and space. I can’t retire in the ghetto.”

Immediately, I told Mr K I would no longer advise them because they had already made up their minds emotionally.

They bought a stand in Borrowdale on a hill with beautiful views. They drew a triple-storey mansion with a 600sqm footprint.

Before reaching the first ring beam, all the money was finished.

Mr K then started coming to sit at my reception until we eventually gave him some work on one of our sites.

Later, we helped him with a few roofing sheets so he could cover a few rooms.

They then tried to sell the property, but we could not find a buyer.

Today, Mr K suffered a stroke and is living in an unfinished shell house on concrete floors.

Watch your decisions with women, they determine your destiny.

For property advice, I give it for free.

We are created to shelter mankind, and we will do it in our lifetime.