Amos Wekesa: Don't build a house before you have positive cashflow, investments

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Tue 04 Jan, 2022

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Amos Wekesa kololo personal house

By Amos Wekesa

Don’t be pushed by what society (same society who are struggling financially) think is the right way, ie when you start making money (usually salary), buy land and construct.

This societal pressure has put many people in difficult financial and stress positions...like loan defaulting, unfinished houses, loss of properties, unhappiness etc.

The best way to construct a family house is using cashflows – not salary. With exception of those who earn huge paycheques and have job security.

But if your like many of us out there, struggling to save from salary, not sure if you’ll have your job next month or year, to buy land you need years savings…, then that advise is a trap.

Start thinking of how you can create cash flows before taking on responsibility of constructing a sleeping house. There are many ways one can create additional income without much time or knowledge.

I realised from my tweets quite a number of people paid attention on the family home I completed.The family generally speaking was very excited about the new home and I remember driving my wife and daughter to the house one evening and my daughter hugged me so tightly and said dad, thank you so much.

I felt a little sad and apologized for taking so long to build a house for them. My daughter quickly said, "you would have probably not built one like this and I agreed with her."

I only felt guilty because of what my wife and daughter expressed.

My dream house as a person is a 2 bedroomed house facing the Nile in Jinja if God gives me life. Many years ago, I bought the location and it was Shs 800k per acre and we have planted many fruiting trees.

I will write about the 10 months it took to build this….but I must appreciate the fact that my wife and daughter pushed me into doing this at the beginning of 2019.

I told them design a house you want, I will build it for you. And I introduced the architect they worked with.

Guys, I will be turning 49 years this year and I have been running a business or businesses which turn 21in April 2022. Of course I have aspirations which I haven’t handled yet and I can’t wait God willing to achieve those aspirations.

Build cash flow first

I have been in tourism for close to 25yrs from a sweeper to a team leader at Safaris Uganda and Uganda Lodges Limited plus a few other stuff outside tourism.

A personal home or house according to me who has a lot of experience isn’t a big achievement reason it has come many years after working and building a business or businesses for many years. Let me give you an example, many guys many years ago shared houses and land in Kololo and nakasero out of excitement. Many years down the line, it’s the people with cash flows who bought them out.

They couldn’t maintain or even look after them. The people that chose to build cashflows over many years, simply walked into banks and bought out those who valued the wrong things.

I know a businessman who owns over 30 plots in Kololo and when he told me the stories about how he bought out former owners, I couldn’t believe.

I know we have been told to go to school for a degree or degrees, look for a job thereafter, build a house and marry and then wait until you die. It’s one of the reasons we Ugandans (Africans) haven't aspired to own banks, five star hotels, Telecommunication and construction companies, energy companies etc. It’s very easy to achieve what society expects of us.

Study hard, get a job, build a house, marry and die. Most people attain that quickly and then create a new list basics like driving latest number plate, drinking every night, accumulating shoes, suits, handbags, latest phones etc.