5 Black Men Agreed to Save $50 a Month for 2 Years, Now they Have their First Investment Property

Najee Hannigan contemplated many ways to change not only his life, but the lives of those closest to him.

In 2017, the 26-year-old man created a plan for his two younger cousins, Meqai Herder, 23, and Ahmid Hill, 23, and his friends, Tyree Harvey, 26, and Darius Jacobs, 26, to stash away some funds and then to use their combined money to purchase an investment property.

Hannigan told a reporter at BOTWC, “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."

Collectively, the group of men decided investing for their future was worth the sacrifice and hard work. For two years they each saved $200 a month and in June of this year, they closed on their first property. They have plans of renovating the property and then renting it out.

With acquiring their first property, the group of men have started a property management company and they have no plans of letting up. They will be buying more properties in the near future.

Hannigan says that while his partners couldn’t see his plan at first, they 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.

Hannigan said, “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.” The other four men did not really understand the plan initially, but they believed in him, as he had just opened a daycare at the time and they trusted his entrepreneurial thinking.

Hannigan kept this African proverb in mind as they went through the journey of saving, "If you want to go fast, go alone. If you want to go far, go together."

Image Source: Black Business News

16 views0 comments

Recent Posts

See All