Nakibinge is earning from buying and selling land

One of the shell houses Nakibinge has built on his land. Photo by Edgar R. Batte

What you need to know:

  • Property dealers says land is one of the invests that you can easily gain profits from without struggling and Anwar Sadat Nakibinge tells us how he has made this happen

Anwar Sadat Nakibinge is an artist by profession. When he started making profits from his career, he decided to invest the money. He bought boda bodas (motorcycles), retail shops and more. All these were a lot of hustle but when someone approached him to buy one of his plots of land, it opened his eyes to the possibilities and lucrative opportunities in real estate.

When did you get the interest in real estate?
When someone approached me to sell him one of the plots I had bought a few years back.

Where is the plot located and how much had you bought it? How much were they offering you?
The plot is in Kitti, near Nangabo road. I bought it at Shs3.5m and I sold it at Shs9m. This was after close to two years.

How did this raise your interest in real estate?
I realised it’s a stress free and good way of investing money that doesn’t involve a lot of struggle. It is legitimate and you don’t need to supervise your investment, you also don’t pay rent. You sell your own land and the demand is high.

What was your next step from your first real estate sell?
In the past, I have been buying land from property agents and companies. I bought them with an idea of selling them but I changed my mind. Instead, I decided to add value onto them by constructing houses on these plots and selling them. The good thing with real estate is you can sell the house at any stage, even when it’s still at the foundation.

What was your experience like with the different businesses?
You invest your money, but you reach a point when it’s just reducing. At the beginning, you are not making profits yet you are employing people and at the end of the month, they need a salary no matter the situation you are in. I realised, I was making my employees happy with my hard-earned money and making losses. Then landlords are ever hiking rent prices while some employees run away with your money.

How much was your initial investment, for both the initial business and the land?
For my initial business, I invested Shs4.5m; for boda bodas and for land my initial investment was Shs3.5m.

Tell me some few places where you have bought and at how much...
Kitti- Nangabo, I bought at Shs3.5m and another at Shs4.3m in 2008 but I sold one in 2010 at Shs9m. Today, it is now going for between Shs15 and Shs18m. In Matugga, I bought two different plots at Shs4.5m in 2012 and its value is now going for between Shs10 and Shs15m. I have three plots in Kitti in Nangabo, each at Shs3.8m in 2009. Their selling value is now between Shs13m and Shs15m. I also have land in Nkowe, Wakiso which I bought at Shs5m in 2011. I am receiving offers for between Shs10m and Shs15m. I have land in Nangabo, Kasangati which I bought in 2013 at Shs15m but I am receiving offers of between Shs25m and Shs30m.

At what point do you decide to sell off a plot?
That depends on the rate at which the area is growing, plus the offer. Sometimes people come with crazy offers. Then, if you get a hot deal to buy some prime land and you don’t have enough money, you can decide to sweep off one since you have made profits on it already.

How do you arrive or make up your mind on a place to invest your money into?
Distance, accessibility and level of development

What has been the biggest profit you have made off a piece of land you bought and resold?
I sold off some land in Katta that fetched Shs4.5m and reinvested it by buying bigger land in the next village.

What tips can you share about doing real estate business?
1. Do enough research especially back ground check from the land offices and in the neighbourhood before deciding to make a given payment especially if you are buying from an individual or individuals, even companies too.
2. Start small, you will in turn grow bigger.
3. Utilise the opportunity whenever it shows up

5.5m

AMOUNT IN SHILLINGS OF THE PROFITS NAKIBINGE MADE FROM HIS FIRST LAND SELL.